Income Tax Officer, Ward-1, Ichalkaranji vs. Navdurga Yarns LLP, Ichalkaranji
In the result, the appeal of the Revenue is allowed for statistical
ITA 1287/PUN/2024[2022-23]Status: DisposedITAT Pune31 Jan 2025AY 2022-23
Bench: Shri R.K. Panda & Ms. Astha Chandraआयकर अपील सं. / Ita No.1287/Pun/2024 निर्धारण वर्ष / Assessment Year : 2022-23 Income Tax Officer, Ward - 1, Ichalkaranji अपीलार्थी / Appellant Assessee By : Department By : Date Of Hearing : Date Of Pronouncement : Navdurga Yarns Llp, 12/537/1, Near Hotel Man, Vs. Shahu Corner, Ichalkaranji-416115 Pan : Aapfn7837F प्रत्यर्थी / Respondent Shri Bhuvnesh V. Kankani Shri Amol Khairnar 07-11-2024 31-01-2025 आदेश / Order Per Astha Chandra, Jm : The Appeal Filed By The Revenue Is Directed Against The Order Dated 05.04.2024 Of The Ld. Additional/Joint Commissioner Of Income Tax (Appeals)-2, Vadodara [“Addl./Jcit(A)"] Pertaining To Assessment Year ("Ay") 2022-23. 2. Briefly Stated, The Facts Of The Case Are That The Assessee Is A Firm. It Filed Its Original Return Of Income For Ay 2022-23 On 22.10.2022 Declaring Total Income At Rs.2,74,64,880/-. The Return Was Processed U/S 143(1) Of The Income Tax Act, 1961 (The “Act"). An Intimation Order Dated 07.06.2023 Was Passed By The Ld. Assessing Officer, Cpc Bengaluru (“Ao”) Assessing Total Income At Rs.13,01,40,970/- & Raising A Demand Of Rs.4,16,78,170/-. The Ld. Ao Made An Addition Of Rs.10,26,76,090/- Under The Head, “Increase In Profit Or Decrease In Loss On Account Of Icds Adjustments & Deviation In Method Of Valuation Of Stock (Column 3A + 4D Of Part A-Oi)”. 3. Aggrieved By The Order Of The Ld. Ao Passed U/S 143(1) Of The Act, The Assessee Appealed Before The Ld. Addl./Jcit(A). Before The Ld. Addl./Jcit(A), The Assessee Submitted That The Books Of Account Of The Assessee Were Audited As Required Under The Relevant Provisions Of The Act & The Audit Report Was Submitted Electronically By The Assessee. The 2
For Appellant: Department byFor Respondent: Date of hearing
Section 143(1)Section 145A
