MANJILAS AGRO FOODS PVT. LTD,THRISSUR vs. THACIT,CIRCLE-1(1 ), THRISSUR

In the result, all the appeals by the assessee are partly allowed

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S.

depreciation is allowable has to be indicated, and otherwise, return cannot be treated as one under section 139. This argument has to be noticed to be rejected. 23. Proviso to section 147 provides that where any income chargeable to tax has escaped assessment for such assessment ITA Nos.32 to 34/Coch/2022 Page 6 of 18

THE ACIT, CIRCLE-1(1), THRRISSUR vs. MANJILAS AGRO FOODS PVT. LTD., THRISSUR