Indo Hongkong Industries (P) Ltd., New Delhi DCIT, Circle- 12(1), New Delhi

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Last updated: 02 January 2021
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The Income Tax Appellate Tribunal heard an appeal from Indo Hongkong Industries (P) Ltd. concerning a penalty of Rs. 33,80,701 levied for the assessment year 2006-07. The penalty arose from additions made by the Assessing Officer, who disallowed certain revenue and administrative expenses totalling over Rs. 1 crore, treating them as capital expenditure and subsequently allowing depreciation on them. The assessee had initially declared a total income of Rs. 12,48,000.

Court :
ITAT New Delhi

Brief :
Aggrieved by the order dated 30/08/2017 in appeal No. 67/2017-18/CIT (A), New Delhi passed by the learned Commissioner of Income Tax(Appeals)-22 Delhi (“Ld. CIT(A)”), in the case of M/s Indo Hong Kong industries (P) Ltd (“the assessee”) for the assessment year 2006-07 confirming the penalty, assessee preferred this appeal.

Citation :
ITA No.-6247/Del/2017

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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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