Appeal and cross objections filed by Deputy Commissioner of Income Tax and Mumbai Railway Vikas Nigam Limited have been dismissed by ITAT.

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Last updated: 08 January 2021
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The Income Tax Appellate Tribunal (ITAT) Mumbai Bench has dismissed both the appeal filed by the Deputy Commissioner of Income Tax and the cross objections lodged by Mumbai Railway Vikas Nigam Limited. The case pertains to the assessment year 2015-16 and concerns the allowance of exemption under section 11 of the Income Tax Act. The core of the dispute revolved around whether the receipts from developing and implementing rail infrastructure projects exceeded the limits specified in the proviso to section 2(15) of the Act.

Court :
ITAT Mumbai

Brief :
By way of this appeal, the Assessing Officer has challenged correctness of the order dated 4th February 2019, passed by the learned CIT(A), in the matter of assessment under section 143(3) of the Income Tax Act, 1961, for the assessment year 2015-16.

Citation :
ITA No. 2883/Mum/19

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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