Trivandrum Cable Network (P.) Limited Vs DCIT (ITAT Cochin)
The Income Tax Appellate Tribunal (ITAT), Cochin Bench, has dismissed a series of appeals filed by Trivandrum Cable Network (P.) Limited, upholding the additions and disallowances made by the Assessing Officer (AO) in assessments completed under Section 153A of the Income-tax Act, 1961. These appeals pertained to assessment years 2005-2006 to 2008-2009 and 2010-2011 to 2011-2012, all arising from a search and seizure operation conducted on the assessee.
Trivandrum Cable Network (P.) Limited is a company engaged in the business of cable operation. The genesis of these assessment proceedings was a search and seizure operation carried out under Section 132 of the Income-tax Act on November 8, 2010. During this operation, certain incriminating materials were reportedly found and seized from the assessee’s premises.
Based on these materials, the assessee was issued a notice under Section 153A of the Act on March 28, 2012. However, the company neither complied with the Section 153A notice nor furnished the information requested via a subsequent notice issued under Section 142(1) of the Act. Faced with this non-compliance, the Assessing Officer proceeded to complete the assessment, determining a total income of Rs. 16,18,819 for the lead assessment year (2005-2006).
