MAA MAHAMAYA INDUSTRIES LIMITED,CHHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM
In the result, appeal of the assessee is allowed
ITA 141/VIZ/2025[2009-10]Status: DisposedITAT Visakhapatnam13 May 2025AY 2009-10
Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble
For Appellant: Shri MV Prasad, CAFor Respondent: Dr Satyasai Rath, CIT(DR)
Section 127Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 245C(1)Section 245D
depreciation amounting to Rs.6,36,87,756/- on the bogus plant and machinery claimed by the assessee. Further, the Ld. AO also observed differences in stock wherein the excess stock was valued at Rs. 1,83,46,348/- and deficit stock was valued at Rs. 1,05,77,853/-. The assessee set off the excess stock with the deficit stock
