DCIT, New Delhi M/s. Ackruti Safegaurd Systems Pvt. Ltd., Navi Mumbai

Last updated: 22 December 2020

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This appeal concerns the assessment year 2012-13 for Ackruti Safeguard Systems Pvt. Ltd., a company involved in manufacturing and trading high-security number plates. The Assessing Officer noted that the company's business had not commenced by the end of the financial year. The assessee initially filed a return showing a loss, which was later revised to a larger loss. Following scrutiny, the assessment framed under section 143(3) determined a reduced total loss.

Court :
ITAT New Delhi

Brief :
This appeal filed by the Revenue is directed against the order dated 26.09.2016 of the Commissioner of Income Tax (A)-I, New Delhi relating to Assessment Year 2012-13.

Citation :
ITA No.6173/Del/2016

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI
BENCH ‘A’, NEW DELHI

BEFORE SH. H. S. SIDHU, JUDICIAL MEMBER
AND, SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER
(THROUGH VIDEO CONFERENCING)
ITA No.6173/Del/2016 (for Assessment Year 2012-13)

DCIT
Circle – 1(2),
New Delhi – 110 002
PAN No. AACCA 4087 E
(APPELLANT)

Vs.

Ackruti Safeguard Systems
Pvt. Ltd.,
D-89/3, TTC Industrial
Area, MIDC, Turbhe,
Navi Mumbai – 400 705
(RESPONDENT)

Assessee by -None-
Revenue by Sh. Prakash Dubey, Sr. DR

Date of hearing: 14/12/2020
Date of Pronouncement: 17/12/2020

ORDER

PER ANIL CHATURVEDI, AM:

This appeal filed by the Revenue is directed against the order dated 26.09.2016 of the Commissioner of Income Tax (A)-I, New Delhi relating to Assessment Year 2012-13.

2. The relevant facts as culled from the material on records are as under :

3. Assessee is a company stated to be engaged in the business of Manufacturing/ Trading / Exporting /Distributing of all kinds of High Security Number Plates and other connecting activities. AO has noted that the business of the assessee had not commenced till the end of the year under consideration. Assessee filed its return of income for A.Y. 2012-13 on 29.09.2012 showing loss of Rs.69,05,408/-. Subsequently, it revised the return of income on 29.03.2014 declaring loss of Rs.1,88,21,050/-. The case was selected for scrutiny and thereafter, assessment was framed u/s 143(3) vide order dated 30.03.2015 and the total loss was determined at Rs.35,61,712/-.

To know more in details find the attachment file

FAQ :

The company is engaged in the business of manufacturing, trading, exporting, and distributing all kinds of high-security number plates and related activities.

The Assessing Officer noted that the business of the assessee had not commenced by the end of the assessment year 2012-13.

The assessee initially filed a return of income for AY 2012-13 showing a loss of Rs. 69,05,408/-.

Yes, the assessee revised its return of income on 29.03.2014, declaring a loss of Rs. 1,88,21,050/-.

Following scrutiny, the assessment framed under section 143(3) determined the total loss at Rs. 35,61,712/-.