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Section 68 addition can be made only in the Assessment year of receipt
Case Law Details
- Case Name
- Shaktigarh Textile and Industries Ltd. Vs DCIT (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Kolkata
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Shaktigarh Textile and Industries Ltd. Vs DCIT (ITAT Kolkata)
Introduction: Shaktigarh Textile and Industries Ltd. found itself in a legal battle with the Deputy Commissioner of Income Tax (DCIT) in Kolkata, with a pivotal focus on Section 68 of the Income Tax Act. In this article, we delve into the case, the issues at hand, and the Tribunal’s decision.
Background: Shaktigarh Textile and Industries Ltd. contested an order from the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi, dated June 19, 2023, for the assessment year 2012-13. The company raised t...
