Gangeshwari Metals Pvt. Ltd., New Delhi Vs ITO, Ward-11(3), New Delhi

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Last updated: 30 October 2020
Quick Summary
This Income Tax Appellate Tribunal case involves Gangeshwari Metals Pvt. Ltd. appealing against an order concerning the assessment year 2010-11. The company contested the initiation of reassessment proceedings, arguing the Assessing Officer (AO) lacked independent satisfaction and relied on borrowed satisfaction. They also claimed incorrect figures were used, notice service was invalid, and sanction was mechanically granted. Furthermore, the company challenged an addition of over £1.3 crore made under Section 68 read with Section 115BBE of the Income Tax Act.

Court :
ITAT New Delhi

Brief :
Appellant, M/s. Gangeshwari Metals Pvt. Ltd. (hereinafter referred to as ‘the assessee’) by filing the present appeal sought to set aside the impugned order dated 07.10.2019 passed by the Commissioner of Income-tax (Appeals)-15, New Delhi qua the assessment year 2010-11 on the grounds inter alia that :-

Citation :
ITA No.9343/Del./2019

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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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