BIOWIN AGRO RESEARCH Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) In these appeals, the appellant/assessee impugns the common order dtd. 24/2/2023 of the Income Tax Appellate Tribunal, Cochin Bench in I.T. Appeal Nos.2 and 3/Coch/2022 pertaining to the assessment years 2017-18 and 2018-19 respectively.

(2.) The brief facts necessary for disposal of these I.T. Appeals are as follows:

(3.) The appellant filed Nil returns during the assessment years 2017-18 and 2018-19 respectively. The case of the appellant was however selected for scrutiny under Sec. 143(2) of the I.T. Act, and after hearing the appellant, the assessment was completed for the said years by disallowing the claim for exemption under Sec. 11 of the I.T. Act and demanding substantial amounts towards tax, cess and interest. Penalty proceedings under Sec. 270A were also separately initiated.