ITAT Delhi Deletes Double Addition of ₹14.45 Crore Made by CPC

Fexprime Finance Pvt. Limited Vs ADIT/CPC (ITAT Delhi) The appeal was filed by Fexprime Finance Pvt. Ltd., a registered NBFC engaged in financing two-wheeler purchases, against the order dated 10.01.2025 of the CIT(A)-1, Mumbai, arising from an intimation under Section 143(1) for Assessment Year 2021–22. The assessee had filed its return on 14.03.2022, declaring nil income and claiming a carry forward loss of ₹18,19,72,248. Subsequently, it received a show-cause notice dated 14.04.2022 from the CPC proposing an adjustment of ₹14,45,64,504 under Section 143(1)(a)(iv). The assessee replied...