SRITHIK ISPAT PRIVATE LIMITED,GOA vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 2(1) PANAJI,GOA, PANAJI,GOA
The appeal is allowed for statistical purposes
ITA 48/PAN/2025[2016-17]Status: DisposedITAT Panaji31 Jul 2025AY 2016-17
Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliassessment Year: 2016-17 Srithik Ispat Pvt. Ltd. Plot No. 3, Sanguem Industrial Estate, Sanguem, Goa-403704 Pan : Aaics1765P . . . . . . . Appellant V/S Asstt. Commissioner Of Income Tax, Circle-2(1), Panaji, Goa . . . . . . . Respondent Appearances Assessee By: Mrs Girija Agrawal [‘Ld. Ar’] Revenue By: Ms Rijjula Uniyal [‘Ld. Dr’] Date Of Conclusive Hearing: 30/07/2025 Date Of Pronouncement : 31/07/2025 Order Per G. D. Padmahshali; This Assessee’S Appeal Is Filed U/S 253(1) Of The Income-Tax Act, 1961 [‘The Act’] Challenges Din & Order No 1068425181(1) Dt. 06/09/2024 Passed By National Faceless Appeal Centre, Delhi [‘Ld. Cit(A)/Nfac’] U/S 250 Of The Act Which Originated From Order Of Assessment Passed U/S 144 Of The Act By Asstt. Commissioner Of Income Tax, Circle-2(1), Panaji, Goa. [‘Ld. Ao’].
For Appellant: Mrs Girija Agrawal [‘Ld. AR’]For Respondent: Ms Rijjula Uniyal [‘Ld. DR’]
Section 143(2)Section 144Section 250Section 251Section 251(1)(a)Section 253(1)Section 40Section 68
167 ITR 5 (SC)].
4. As we note that, the assessee is limited company incorporated under the provisions of Companies Act and was engaged in the business of processing of sponge iron. For the year under consideration, the assessee company filed its return on 29/11/2016
returning/declaring a loss of ₹7,28,68,020/-. The case of the assessee was selected
