ITAT Mumbai Reinstates Rs. 2.55 Crore Tax Matter for Fresh Adjudication

Gemini Dyeing and Printing Mills Pvt Ltd Vs ACIT (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT), Mumbai, has allowed an appeal by Gemini Dyeing and Printing Mills Pvt Ltd, restoring a tax matter amounting to over Rs. 2.55 crore for a fresh hearing. The decision came after the tribunal determined that the previous appellate order was passed without giving the company a reasonable opportunity to be heard. The case for the Assessment Year 2012-13 involved a tax assessment that increased the company’s income to Rs. 2,55,32,947. The company filed an appeal with the Commissioner of Inc...