M/s Lalith Gangadhar Constructions Private Limited , Bangalore Vs. The Deputy Commissioner of Income Tax Circle-4(1)(1), Bangalore

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Last updated: 13 October 2020
Quick Summary
This Income Tax Appellate Tribunal case involves M/s Lalith Gangadhar Constructions Private Limited appealing a decision that confirmed the disallowance of a claim for Rs. 2,51,54,293. This amount represented a loss arising from the valuation of inventory, essentially accumulated expenses from earlier years included in work-in-progress. The company, involved in housing and real estate development, reported business income for the first time in the assessment year 2012-13.

Court :
ITAT Bangalore

Brief :
The appeal filed by the assessee is directed against the order dated 05-01-2018 passed by Ld CIT(A)-9, Bangalore and it relates to the assessment year 2012-13.

Citation :
ITA No.1124/Bang/2018

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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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