SHIVA SPECIALITY YARNS LTD.,LUDHIANA vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-I, LUDHIANA
Appeal of the assessee is allowed for
ITA 1049/CHANDI/2024[2018-19]Status: DisposedITAT Chandigarh22 Jan 2025AY 2018-19
Bench: Shri Rajpal Yadav & Shri Vikram Singh Yadav
For Appellant: Shri Navneet Sehgal, CA and Ms. Naina Gaba Sehgal, CAFor Respondent: Smt. Kusum Bansal, CIT DR
Section 139(1)Section 139(3)Section 143(2)Section 270ASection 80
depreciation. The AO was of the view that
business loss of Rs.19,26,39,748/- is not allowable to the
assessee because the return under Section 139(1) was not
filed within the time limit provided in Section 139(3) of the
Income Tax Act. The AO further observed that as per Section
80 of the Income