HERCULES AUTOMOBILES INTERNATIONAL PRIVATE LIMITED,THIRUVANANTHAPURAM vs. AO TYPE-W, AAYAKAR BHAWAN, ALLEPPEY
In the result, the appeal filed by the assessee stands allowed
ITA 776/COCH/2025[2012-13]Status: DisposedITAT Cochin20 Nov 2025AY 2012-13
Bench: Shri Inturi Rama Rao, Am & Shri Manu Kumar Giri, Jm Assessment Year: 2012-13 Hercules Automobiles International P. Ltd. .......... Appellant Tc No.16/1860, Dpi Road, Thycaud S.O. Chempakassery, Thiruvananthapuram 695014 [Pan: Aabcn2898M] Vs. Dcit, Circle - 1, Alappuzha ......... Respondent Assessee By: Shri Jose Zachariah, Ca Revenue By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 06.11.2025 Date Of Pronouncement: 20.11.2025
For Appellant: Shri Jose Zachariah, CAFor Respondent: Smt. Leena Lal, Sr. D.R
Section 143(3)Section 148Section 14ASection 271(1)(c)Section 274
u/s. 271(1)(c) is justified or not.
Penalty proceedings were initiated on account of disallowance of loss on account of foreign currency transaction of Rs. 21,84,084/-.
The mere fact that the additions were made to the returned income by disallowing certain deductions
