DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR vs. MEASAGE BHAGWATI LACTO VEGETARIAN EXPORTS (P) LIMITED, FEROZEPUR CANTT
In the result, the appeal filed by the Revenue is dismissed
ITA 1/ASR/2020[2016-17]Status: DisposedITAT Amritsar17 Feb 2023AY 2016-17
Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee
For Appellant: None (Written submission)For Respondent: Sh. Rohit Mehra, CIT DR
Section 36Section 36(1)(vii)
section 36(1)(vii) of the I.T. Act, 1961. 2. Briefly, the facts of the case are that the record of the appellant-
company filed return of income declaring net income of Rs.11,95,70,120/-
on 31.03.2017. During the course of scrutiny proceedings, the AO noticed
that as per the audited profit and loss account, the assessee had earned