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Deputy Commissioner Of … vs M/S. Brindavan Threads Pvt. … on 29 November, 2017

This Appeal by the Revenue is directed against the order of
Commissioner of Income-tax (Appeals) – 11, Bangalore dated
ITA No.2219/B/16 & CO 42/B/17


26/9/2016 for asst. years 2008-09. The Assessee has also filed Cross
Objections (‘C.O’) in respect of the aforesaid order of the CIT(A).

2. Briefly stated, the facts of the case relevant for this appeal are
as under:-

2.1 The assessee company is engaged in the business of
manufacture and sale of sewing threads and trading in soft drinks. The
assessee filed its return of income for asst. year 2008-09 on 24/9/2008
declaring total income of Rs.54,08,360/- under the normal provisions
of the Act and reported ‘Book Profits’ at Rs.62,14,837/- u/s 115JB of
the Income-tax Act, 1961 (in short ‘the Act’). This return was
processed u/s 143(1) of the Act and the case was subsequently taken
up for scrutiny. The assessment was completed u/s 143(3) of the Act
vide order dated 13/12/2010, accepting the returned income of
Rs.54,08,360/- and the Book profits computed by the assessee was
also accepted as returned.

Source: IK

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Deputy Commissioner Of … vs M/S. Brindavan Threads Pvt. … on 29 November, 2017


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