COMMISSIONER OF INCOME TAX, SHIMLA Vs. HYCRON ELECTRONICS

JUDGEMENT

(1.) By way of instant appeal, the appellant seeks to assail order dtd. 11/2/2020, passed by the Income Tax Appellate Tribunal (for short 'ITAT'), Chandigarh in ITA No. 715/Chd./2019.

(2.) Respondent herein, (for short 'assessee'), declared Rs.25,98,91,180.00 as income in the ITR filed for the A.Y. 2015-2016. Assessment u/s 143(3) of the Income Tax Act (for short 'Act') was completed on 30/10/2017 and income of the assessee was assessed at Rs.29,27,51,617.00 by making following additions:

(3.) Assessee assailed above noted order of A.O before CIT(A) by way of appeal No. IT/198/17-18/SML and the same was allowed in respect of amounts detailed at serial number ii to iv above and further addition of Rs.8,68,744.00 was deleted from additional amount mentioned at serial number i above.