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Technicalities Can’t Defeat Justice: ITAT Kolkata Allows Set Off of Losses & MAT Credit
Case Law Details
- Case Name
- Ambika Metaliks Pvt. Ltd. Vs ACIT (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Kolkata
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Ambika Metaliks Pvt. Ltd. Vs ACIT (ITAT Kolkata)
Technicalities Can’t Defeat Justice: Denial Without Basis Unjustified – Full Brought Forward Losses & MAT Credit Allowed
The appeal arose from the order of the CIT(A), dated 22.10.2024 & pertained to Assessment Year 2016-17. At the threshold, the appeal was filed with a delay of 63 days. Assessee produced an affidavit explaining genuine & bonafide reasons for the delay. Accepting the explanation, Tribunal condoned the delay to advance the cause of justice.
The first substantive issue related to the set-off of brought forward busi...
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