2026 (5) TMI 850

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....druk ORDER PER DR. MANISH BORAD, ACCOUNTANT MEMBER : The captioned appeal at the instance of assessee is against the order dated 22.12.2025 framed by Addl/JCIT(A)-3, Kolkata passed u/s. 250 of the Income Tax Act, 1961 arising out of Intimation order dated 16.10.2019 passed u/s. 143(1) of the Act. 2. The only grievance of the assessee is that the CPC erred in charging the income of the ....

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....income at Rs. 22.62 crore and tax has been charged at @30% as against 25% calculated and paid by the assessee. Assessee carried the matter before CIT(A) and gave reference to the 1st Schedule of Finance Act 2018 which provides that for the purpose of calculating tax for A.Y 2018-19, if the gross turnover of the assessee for F.Y. 2015-16 relevant to A.Y.2016-17 does not exceed Rs. 50 crore, then th....

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....opy of audited balance sheet for F.Y.2015-16 as well as F.Y.2017-18. We also note that in the income tax return form which is applicable for A.Y. 2018-19 there is no specific column in which assessee can mention the details of turnover for A.Y.2016-17. This brings to a situation that on one hand the claim of the assessee is supported by Finance Act 2018 and on the other hand the Revenue's case is ....