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 142/VIZ/2025[2010-11]Status: DisposedITAT Visakhapatnam13 May 2025AY 2010-11
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
69B totaling to Rs. 77,68,495/- instead of Rs.2,11,55,707/-. Accordingly, the ground no. 7 and additional legal ground raised vide petition dated 02.01.2025 is hereby allowed.”
19. We are therefore of the considered view that various judicial pronouncements have held that only the profit element involved in the shortage of stock can be added