Gujarat State Aviation Infrastructure Company Limited Vs ITO (ITAT Ahmedabad)
Ahmedabad: In a recent ruling, the Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, has directed the Assessing Officer (AO) to re-examine a rectification request filed by Gujarat State Aviation Infrastructure Company Limited for the Assessment Year 2017-18. The assessee had contested that the intimation issued under Section 143(1) of the Income Tax Act, 1961 incorrectly treated depreciation amount as net profit, leading to an inflated taxable income calculation. The Tribunal’s decision effectively provides the assessee another opportunity to seek rectification of what it claims is an apparent error in the automated processing of its tax return.
The case pertains to the assessment year 2017-18. Gujarat State Aviation Infrastructure Company Limited had filed its return of income for this period. Subsequently, an intimation under Section 143(1) of the Act was issued. This section deals with the preliminary processing of income tax returns by the Income Tax Department, primarily to check for arithmetical errors, incorrect claims apparent from the information in the return, and to make adjustments based on deductions, allowances, and other items. The intimation reflects the outcome of this automated processing, determining the total income and the tax liability or refund due.
