MALLELIL INDUSTRIES PRIVATE LIMITED,PATHANAMTHITTA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1, THIRUVALLA

In the result, the appeal filed by the assessee stands dismissed

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm Assessment Year: 2015-16 Mallelil Industries Pvt. Ltd. .......... Appellant Attachakkal P.O., Pathanamthitta 689691 [Pan: Aafcm0761Q] Vs. Acit, Circle-1, Thiruvalla .......... Respondent Appellant By: Shri Surendran, Ca Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 05.06.2025 Date Of Pronouncement: 31.07.2025 O R D E R Per: Inturi Rama Rao, Am This Appeal Filed By The Assessee Is Directed Against The Order Of The National Faceless Appeal Centre, Delhi [Cit(A)] Dated 24.08.2022 For Assessment Year (Ay) 2015-16. 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 Manufacture Of Rock Aggregates & Running A Quarry. The Return Of Income For Ay 2015-16 Was Fled On 22.09.2015 Declaring Income Of Rs. 2,54,10,720/-. Survey

depreciation of Rs. 11,80,715/-. The AO also initiated penalty proceedings u/s. 271(1)(c) of the Act for concealment