FLYTECH AVIATION LIMITED,SECUNDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1(3), HYDERABAD
In the result, the appeal of the assessee is partly allowed
ITA 1712/HYD/2019[2007-08]Status: DisposedITAT Hyderabad09 Sept 2022AY 2007-08
Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2007-08 Flytech Aviation Limited, Vs. Asst.Commissioner Of Secunderabad. Income Tax, Circle 1(3), Pan : Aaacf3053D. Hyderabad. (Appellant) (Respondent) Assessee By: Shri Kumar Pal Tated, Ca Revenue By: Shri Solge Jost Kottaram Date Of Hearing: 11.08.2022 Date Of Pronouncement: 09.09.2022
For Appellant: Shri Kumar Pal Tated, CAFor Respondent: Shri Solge Jost Kottaram
Section 115JSection 143(2)Section 143(3)Section 43BSection 69B
section 115JB of the Act at Rs.55,33,668/-. The case was taken up for scrutiny and notice u/s 143(2) of the Act was issued and served on the assessee.
While, the assessment proceedings were pending, the AO had received certain information from Directorate of Revenue
Intelligence (in short “DRI”) Chennai, consequent on search conducted by the DRI, assessee