2026 (6) TMI 667

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....SINGH, VP : This appeal by the assessee is arising out of the order of the Additional /Joint Commissioner of Income Tax(A-7), Kolkata in appeal no. NFAC/2020- 21/1061635 dated 03.12.2025. The return was processed u/s. 143(1) of the Income Tax Act, 1961 (hereinafter referred "Act") by the CPC, Bangalore vide Intimation dated 05.07.2022 for the assessment year 2021-22. 2. The only issue in thi....

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....ee filed its return of income for the relevant assessment year 2021-22 on 12.3.2022 declaring total income at NIL. While processing the return of income, the CPC, Bangalore disallowed expenditure indicated in the audit report but not taken into account while computing the total income in the return u/s. 143(1)(a)(iv) of the Act and therefore, there being inconsistency in the amount profit chargeab....