Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 169/Pan/2023 Assessment Year : 2008-09 Parkkot Maritime Agencies Pvt Ltd. Parkkot House, Swatantra Path, Vasco-Da-Gama, Goa-403802 Pan : Aadcp1208P . . . . . . . Applicant V/S Dy. Commissioner Of Income Tax Circle-1, Margoa, Goa. . . . . . . . Respondent Appearances Assessee By : Mr S V Shivrama Iyer [‘Ld. Ar’] Revenue By : Capt. Pradeep Arya [‘Ld. Dr’] Date Of Conclusive Hearing : 28/01/2025 Date Of Pronouncement : 28/01/2025 Order Per G. D. Padmahshali, Am; The Assessee Is In Appeal Against Din & Order No. Itba/Nfac/S/250/2023-24/1055088420(1) Dt. 11/08/2023 Passed U/S 250 Of The Income-Tax Act, 1961 [In Short ‘The Act’] By The National Faceless Appeal Centre, Delhi [In Short ‘Ld. Cit(A)/Nfac’] Which In Turn Arisen Out Of Order Of Regular Assessment Dt. 16/03/2015 Framed U/S 143(3) R.W.S 147 Of The Act By The Dy. Commissioner Of Income Tax, Circle-1, Margao, Goa [In Short ‘Ld. Ao’].

57,250/-. The said ITR in first place was processed summarily u/s 143(1) of the Act and later selected for scrutiny assessment. The consequential assessment thereupon was completed u/s 143(3) of the Act determining total income in variation to income returned to ₹16,83,24,088/-. The said regular assessment remained unchallenged by the assessee in appeal. Subsequently