S.MANIKUMAR, D.KRISHNAKUMAR
Megatrends Inc represented by its Mrs. Mita Kalpesh Patel – Appellant
Versus
Commissioner of Income Tax, Chennai – Respondent
S. Manikumar, J.
Writ appeal is directed against the order of the writ court, dated 11.02.2016 made in W.P.No.37072 of 2015 by which, the writ court, declined to interfere with the show cause notice, issued for enhancement of assessment made by the Commissioner of Income Tax, Appeals-4, Chennai ITA No.85/2015-2016, for the Assessment Year 2012-2013.
2. Facts leading to the appeal are that the appellant, claimed that it is a partnership firm, trading in stocks, shares, debentures, manufacturing, buying, selling and transporting of various consumer and industrial commodities. The appellant, filed its return for the Assessment year 2012-2013 on 29.09.2012, admitting, a total income of Rs.1,74,36,050/-. The return of income was processed, under Section 143(1) of the Income Tax Act, 1961 and selected for scrutiny. Details were called for, and after considering the same, explanation was given by the assessee. Assessment Order under Section 143(3) of the Income Tax Act, 1961, was passed on 30.03.2015 by the Assistant Commissioner of Income Tax, Chennai, viz. respondent No.2.
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.