INNOVATE DESIGNERS&BUILDERS PRIVATE LIMITED,TRIVANDRUM vs. ITO,WARD 1(1), TRIVANDRUM

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm Assessment Year: 2022-23 Innovate Designers & Builders Pvt. Ltd. .......... Appellant Tc 93/1944 Krishna Flat, Kra 11A Railway Station Road, Pallikuku, Pettah Thiruvananthapuram 695024 [Pan: Aaeci2784C] Vs. The Income Tax Officer, Ward - 1(1) .......... Respondent Thiruvananthapuram Appellant By: Shri Mathew Joseph, Ca Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 21.05.2025 Date Of Pronouncement: 27.06.2025 O R D E R Per: Inturi Rama Rao, Am This Appeal Filed By The Assessee Is Directed Against The Order Of The Commissioner Of Income Tax (Exemptions), Kochi, Dated 25.09.2024 For Assessment Year (Ay) 2022-23. 2. Brief Facts Of The Case Are That The Appellant Is A Company Incorporated Under The Provisions Of Companies Act, 1956. It Is Engaged In The Business Of Undertaking Civil Contracts & 2 Innovate Designers & Builders Pvt. Ltd. Constructions. The Return Of Income For Ay 2022-23 Was Filed On 26.09.2022 Declaring Nil Income. Against The Said Return Of Income, The Assessment Was Completed By Ito, Ward-1(1), Thiruvananthapuram (Hereinafter Called "The Ao") Vide Order Dated 21.03.2024 Passed U/S. 143(3) R.W.S. 144B Of The Income Tax Act, 1961 (The Act) At A Total Income Of Rs. 6,12,03,924/- By Holding That The Appellant Could Not Furnish Evidence In Support Of The Expenditure Incurred On Commission, Etc. & Treated The Same As Unexplained Expenditure U/S. 69C Of The Act.