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When Substantive Addition is Time-Barred, Protective Addition Also Fails
Case Law Details
- Case Name
- Kanav Metals Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 204-15
- Courts
- All ITAT, ITAT Delhi
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Kanav Metals Vs ITO (ITAT Delhi)
In the case of Kanav Metals vs. ITO (Income Tax Appellate Tribunal, Delhi), the central issue revolves around a protective addition made by the Income Tax Officer (ITO) and the subsequent dispute over the time-barred substantive addition. Here is a detailed analysis of this matter:
1. Background: Kanav Metals, the appellant, filed its income tax return for the assessment year 2014-15, declaring an income of Rs. 12,220. The company was involved in wholesale scrap business.
2. Protective Addition: During the assessment process, the ITO noticed an addition of Rs. ...
