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1 result for “reassessment u/s 147”+ Section 269clear

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Key Topics

Section 10A6Section 1484Section 1472Section 143(3)2

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), , VISAKHAPATNAM vs. MINIMET REFRACORY SOLUTIONS PRIVATE LIMITED,, VISAKHAPATNAM

In the result, appeal of the revenue as well as the cross objections of the assessee are dismissed

ITA 476/VIZ/2018[2009-10]Status: DisposedITAT Visakhapatnam23 Apr 2019AY 2009-10

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.476/Viz/2018 (निर्धारण वर्ा/ Assessment Year:2009-10) Asst.Commissioner Of Vs. M/S Minimet Refractory Income Tax Solutions Pvt. Ltd. Circle-3(1) (Formerly Known As Almag Visakhapatnam Marketting (India) Pvt. Ltd.) 101-B, Sri Venkateswara Towers, 5Th Lane, Dwaraka Nagar Visakhapatnam [Pan : Aafca5872N] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Co No.134/Viz/2018 (Arising Out Of I.T.A.No.476/Viz/2018) (निर्धारण वर्ा/ Assessment Year:2009-10) M/S Minimet Refractory Solutions Asst.Commissioner Of Pvt. Ltd. Income Tax (Formerly Known As Almag Marketting Circle-3(1) (India) Pvt. Ltd.) Visakhapatnam 101-B, Sri Venkateswara Towers, 5Th Lane, Dwaraka Nagar Visakhapatnam [Pan : Aafca5872N] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Smt Suman Malik, Dr निर्धाऩरती की ओर से / Assessee By : Shri G.V.N.Hari, Ar सुिवधई की तधरीख / Date Of Hearing : 09.04.2019 घोर्णध की तधरीख/Date Of Pronouncement : 23 .04.2019

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Smt Suman Malik, DR
Section 10ASection 143(1)Section 143(3)Section 147
Section 148

269/- as against the originally determined income of Rs.40,14,900/-. 2.1. In the reassessment proceedings, from the Schedule –I, pertains to sales forming part of profit and loss account the AO found that the assessee had admitted the total turnover of the business at Rs.30,18,95,670/- and export sales of Rs.20,05,69,300/-. Since profit