M/S KERALA AUTOMOBILES LTD,TRIVANDRUM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1(1), TRIVANDRUM
In the result, the appeal by the assessee is allowed for statistical purposes
ITA 176/COCH/2023[2018-19]Status: DisposedITAT Cochin10 Aug 2023AY 2018-19
Bench: Shri Sanjay Arora, Accountantmemberand Shri Manomohan Das, Judicialmember Kerala Automobiles Ltd. Asst. Cit, Aralumoodu P.O., Neyattinkara Circle 1(1), Vs. Trivandurm 695123 Trivandrum [Pan:Aabck0142M] (Respondent) (Appellant)
For Appellant: Shri Anand George Thomas, CAFor Respondent: Shri Sajit Kumar Das, CIT-DR
Section 115Section 143(1)Section 143(2)Section 144Section 251Section 68
68 of the Act, on which tax, in terms of sec.115 BBE of the Act, was levied. In appeal, filed at a delay of 121 days, the assessee questioned the appropriateness of considering the sums duly reflected in it’s audited financial statements as loans from the GoK and Kerala Minerals and Metals Ltd. (KMML), another PSU, a substantial part
