AISWARYA ART CREATIONS PRIVATE LIMITED ,HYDERABAD vs. ADDL. COMMISSIONER OF INCOME TAX-RANGE -13, HYDERABAD
In the result, the appeal of the assessee is partly allowed for statistical purposes
ITA 1535/HYD/2018[2011-12]Status: DisposedITAT Hyderabad20 Oct 2022AY 2011-12
Bench: Shri Rama Kanta Panda & Shri Laliet Kumarm/S. Aiswarya Art Vs. Income Tax Officer, Creations Pvt. Ltd., Ward 15(3), Hyderabad. Hyderabad. Pan Aagca7479J (Appellant) (Respondent) Appellant By : Shri T. Chaitanya Kumar, Adv. Respondent By : Shri Kumar Aditya, (D.R.) Date Of Hearing : 20.10.2022 Date Of Pronouncement : 20.10.2022 O R D E R Per Shri Rama Kanta Panda, A.M. : This Appeal Filed By The Assessee Is Directed Against The Order Dt.04.05.2018 Of The Learned Commissioner Of Income Tax (Appeals)-1, Guntur Relating To Assessment Year 2011-12. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Company Engaged In The Business Of Trading In Satellite Rights. The Assessee Filed Its Return Of Income On 2 26.12.2011 Declaring A Total Income Of Rs.17,47,243. The Case Was Selected For Scrutiny Under Cass. Accordingly, Statutory Notices U/S. 143(2) & 143(1) Of The Income Tax Act, 1961 (In Short ‘The Act’) Were Issued. However, There Was No Compliance From The Side Of The Assessee For Which Summon U/S. 131 Of The Act Was Issued & The Statement Of The Assessee Was Recorded On 29.01.2014 Wherein He Agreed To Furnish The Required Information By 30.01.2014. Since There Was No Compliance Despite Number Of Opportunities, The Assessing Officer Proceeded To Complete The Assessment U/S.144 Of The Act.
For Appellant: Shri T. Chaitanya KumarFor Respondent: Shri Kumar Aditya
Section 131Section 143(2)Section 144Section 68
68 of the I.T Act without considering the appellant submissions.
3. The learned Commissioner of Income-Tax (Appeals) erred in confirming the action of the Assessing officer in disallowing expenditure an amount of Rs.24,72,269/- u/s. 40 (a)(ia) of the I.T Act without considering the appellant submissions.
4. Any other ground that may be urged at the time
