Manjula Finance Ltd Vs ITO


Quick Summary
This Income Tax Appellate Tribunal case involves Manjula Finance Ltd appealing against an Income Tax Officer's order. The primary dispute concerns the addition of over ₹219 crore as business income arising from the transfer of shares in O.P. Jindal Group companies. Manjula Finance Ltd argues that the CIT(A) erred in confirming this addition and also claims their appeal was dismissed without a proper hearing, violating natural justice principles.

Court :
ITAT New Delhi

Brief :
This is an appeal filed by Manjula Finance Ltd (the assessee/appellant) against the order of the Commissioner Of Income Tax (Appeals) – 15, New Delhi ( ld CIT(A)) dated 29.12.2017 for the Assessment Year 2014-15wherein he dismissed appeal filed by the assessee against the order of The Income Tax Officer, Ward – 16 (2), New Delhi (the learned AO) passed u/s 143 (3) of The Income Tax Act (The Act) on 30 December 2016 assessing thetotal income of the assessee at ₹ 2,196,633,589 against returned income of ₹ 1,104,580/–

Citation :
ITA No. 3727/Del/2018

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