Pr. CIT v. M.P. Entertainment & Developers (P) Ltd.

Case Laws Analysis
REFERRED Raj Dadarkar & Associates v. Asstt. CIT 2017 TaxPub(DT) 1173 (SC)
REFERRED Rayala Corporation (P) Ltd. v. Asstt. CIT 2016 TaxPub(DT) 3682 (SC)
REFERRED Rayala Corporation (P) Ltd. v. Asstt. CIT 2016 TaxPub(DT) 3682 (SC)
REFERRED Chennai Properties & Investments Ltd. v. CIT 2015 TaxPub(DT) 2180 (SC)
REFERRED Chennai Properties & Investments Ltd. v. CIT 2015 TaxPub(DT) 2180 (SC)
REFERRED Shambhu Investment (P) Ltd. v. CIT 2003 TaxPub(DT) 0948 (SC)
REFERRED Karnani Properties Ltd. v. CIT 1971 TaxPub(DT) 0378 (SC)
REFERRED Sultan Brors. (P) Ltd. v. CIT 1964 TaxPub(DT) 0259 (SC)

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The Tax Publishers2024 TaxPub(DT) 1962 (MP-HC) IN THE MADHYA PRADESH HIGH COURT VIVEK RUSIA AND HON'BLE SHRI JUSTICE GAJENDRA SINGH Pr. CIT v. M.P. Entertainment & Developers (P) Ltd. Income Tax Appeal No. 180 of 2023, 216 of 2023, 217 of 2023, 218 of 2023 16 April, 2024 Appellant by: Veena Mandlik Advocate Respondent by: None Present ORDER The Principal Commissioner of Income Tax-1, Indore has filed the appeal (s) under section 260-A of the Income Tax Act, 1961 (herein after referred to as the Income Tax Act) being dissatisfied with consolidated order dated 21-11-2022 passed by the Income Tax Appellate Tribunal (ITAT), Bench at Indore in Income Tax Appeal bearing numbers ITA/344/Indore/2017 for assessment year 2013-14, ITA/118/Indore/2017 for assessment year 2012-13, ITA/117/Indore/2017 for assessment year 2011-12 and ITA/203/Indore/2018 for the assessment year 2014-15 respectively. Income Tax Appeal No.180 of 2023 2. The Assessee Company, M/s. M.P. Entertainment & Developers Private Limited filed e-return of Income Tax for the assessment year 2013-14 on 29-9-2013 declaring total loss at minus Rs. 3,32,47,258 (rupees three crore thirty two lakh forty seven thousand two hundred fifty eight only). The case of the assessee came under the scrutiny through Computer Assisted Security Selection (CASS) and assessment under section 143 (3) of the Income Tax Act was completed by Assessing Officer (assessing officer) on 30.03.2016 at Rs. 43,65,20,099 (rupees forty three crore sixty five lakh twenty thousand ninety nine only). Income Tax Appeal No.216 of 2023 3. The Assessee Company, M/s. M.P. Entertainment & Developers Private Limited filed e-return of Income Tax for the assessment year 2012-13 on 29-9-2012 declaring net loss at minus Rs. 4,26,92,922 (rupees four crore twenty six lakh ninety two thousand nine hundred twenty two only). The case of the assessee came under the scrutiny through Computer Assisted Security Selection (CASS) and assessment under section 143 (3) of the Income Tax Act was completed by assessing officer (assessing officer) on 31-3.2015 at Rs. 58,42,522 (rupees fifty eight lakh forty two thousand five hundred twenty two only). Income Tax Appeal No.217 of 2023 4. The Assessee Company, M/s. M.P. Entertainment & Developers Private Limited filed e-return of Income Tax for the assessment year 2011-12 on 31-3-2012 declaring total income of Rs. 00.00 (rupees nil). As per computation total loss at minus Rs. 1,02,098 (rupees one lakh two thousand ninety eight only) under normal provisions of the Income Tax Act and book loss at minus Rs. 1,81,15,601 (rupees one crore eighty one lakh fifteen thousand six hundred one only) was claimed under section 115-JB of the Income Tax Act. 5. The case of the assessee came under the scrutiny through Computer Assisted Security Selection (CASS) and assessment under section 143 (3) of the Income Tax Act was completed by Assessing Officer (assessing officer) on 29-3-2014 at Rs. 4,71,42,454 (rupees four crore seventy one lakh forty two thousand four hundred fifty four only). SUBSCRIBE FOR FULL CONTENT

The Tax Publishers2024 TaxPub(DT) 1962 (MP-HC)

IN THE MADHYA PRADESH HIGH COURT

VIVEK RUSIA AND HON'BLE SHRI JUSTICE GAJENDRA SINGH

Pr. CIT v. M.P. Entertainment & Developers (P) Ltd.

Income Tax Appeal No. 180 of 2023, 216 of 2023, 217 of 2023, 218 of 2023

16 April, 2024

Appellant by: Veena Mandlik Advocate

Respondent by: None Present

ORDER

The Principal Commissioner of Income Tax-1, Indore has filed the appeal (s) under section 260-A of the Income Tax Act, 1961 (herein after referred to as the Income Tax Act) being dissatisfied with consolidated order dated 21-11-2022 passed by the Income Tax Appellate Tribunal (ITAT), Bench at Indore in Income Tax Appeal bearing numbers ITA/344/Indore/2017 for assessment year 2013-14, ITA/118/Indore/2017 for assessment year 2012-13, ITA/117/Indore/2017 for assessment year 2011-12 and ITA/203/Indore/2018 for the assessment year 2014-15 respectively.

Income Tax Appeal No.180 of 2023

2. The Assessee Company, M/s. M.P. Entertainment & Developers Private Limited filed e-return of Income Tax for the assessment year 2013-14 on 29-9-2013 declaring total loss at minus Rs. 3,32,47,258 (rupees three crore thirty two lakh forty seven thousand two hundred fifty eight only). The case of the assessee came under the scrutiny through Computer Assisted Security Selection (CASS) and assessment under section 143 (3) of the Income Tax Act was completed by Assessing Officer (assessing officer) on 30.03.2016 at Rs. 43,65,20,099 (rupees forty three crore sixty five lakh twenty thousand ninety nine only).

Income Tax Appeal No.216 of 2023

3. The Assessee Company, M/s. M.P. Entertainment & Developers Private Limited filed e-return of Income Tax for the assessment year 2012-13 on 29-9-2012 declaring net loss at minus Rs. 4,26,92,922 (rupees four crore twenty six lakh ninety two thousand nine hundred twenty two only). The case of the assessee came under the scrutiny through Computer Assisted Security Selection (CASS) and assessment under section 143 (3) of the Income Tax Act was completed by assessing officer (assessing officer) on 31-3.2015 at Rs. 58,42,522 (rupees fifty eight lakh forty two thousand five hundred twenty two only).

Income Tax Appeal No.217 of 2023

4. The Assessee Company, M/s. M.P. Entertainment & Developers Private Limited filed e-return of Income Tax for the assessment year 2011-12 on 31-3-2012 declaring total income of Rs. 00.00 (rupees nil). As per computation total loss at minus Rs. 1,02,098 (rupees one lakh two thousand ninety eight only) under normal provisions of the Income Tax Act and book loss at minus Rs. 1,81,15,601 (rupees one crore eighty one lakh fifteen thousand six hundred one only) was claimed under section 115-JB of the Income Tax Act.

5. The case of the assessee came under the scrutiny through Computer Assisted Security Selection (CASS) and assessment under section 143 (3) of the Income Tax Act was completed by Assessing Officer (assessing officer) on 29-3-2014 at Rs. 4,71,42,454 (rupees four crore seventy one lakh forty two thousand four hundred fifty four only).