2025 (9) TMI 1570

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....cer. 2. The brief facts of the case are that, the assessee company is engaged in the business of integrated sugar mill,co generation plant and distillery unit. The assessee has filed the return of income for A.Y.2012-13 on 28.09.2012 disclosing a total income of Rs. Nil. Subsequently the case was selected for scrutiny under the CASS and notice u/sec 143(2) and u/sec142(1) of the act are issued. In compliance, the Ld.AR of the assessee appeared from time to time and filed the details and submissions and produced the books of accounts. The Assessing Officer (A.O) dealt on the facts of commissioning and commencement of company project at Para 4 of the order and the audited financial statements and also considered the facts of business loss ....

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....dings of the AO and has issued notices of hearing and the assessee has filed the details and submissions. But the CIT(A) has confirmed the action of the A.O and dismissed the appeal. Aggrieved by the order of the CIT(A), the assessee has filed an appeal before the Hon'ble Tribunal. 4. At the time of hearing, the Ld.AR submitted that the CIT(A) has erred in confirming the action of the A.O overlooking the facts and submissions of the assessee in the proceedings. Further the Ld.AR emphasized that the assessee in response to notices has submitted the explanations along with the details before authorities and in respect of disputed issue of interest earned on fixed deposits from various banks claimed set off against the pre operative exp....