PR.COMMISSIONER OF INCOME TAX-1,THANE vs AGFA INDIA PVT.LTD.(NOW MERGED WITH AGFA HEALTHCARE INDIA PVT.LTD)

Judgment text excerpt

JUDGMENT-ITXA-1857.18(1).DOCX Chaitanya IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1857 OF 2018 Digitally signed by CHAITANYA CHAITANYA ASHOK ASHOK JADHAV JADHAV Date: 2025.04.01 Pr. Commissioner of Income Tax-1, ] 19:18:40 +0530 Thane, Ashar I.T. Park, ‘B’ Wing, ] 6th floor, Wagle Industrial Estate, ] Thane (W)-400 604. ]…..Appellant Versus Agfa India Pvt. Ltd. ] (now merged with Agfa Healthcare ] India Pvt. Ltd.), Technosoft Knowledge ] Gateway, 2nd Floor, B-14, Road No.1, ] Wagle Industrial Estate, ] Thane (West) – 400604 ] PAN: AABCB256K ] (Assessment Year 2007-08) ]…..Respondents ______________________________________________________ Mr Akhileshwar Sharma, for the Appellant. Mr P. J. Pardiwalla, Senior Advocate a/w Mr Harsh Kothari i/by Mr Atul K. Jasani, for the Respondent. ______________________________________________________ CORAM M.S. Sonak & Jitendra Jain, JJ. Reserved on 26 March 2025 Pronounced on 01 April 2025 JUDGMENT : (Per M. S. Sonak, J.) 1. Heard learned counsel for the parties. Page 1 of 14 JUDGMENT-ITXA-1857.18(1).DOCX 2. This Appeal is directed against the Income Tax Appellate Tribunal’s (ITAT) order dated 15 September 2017 allowing the Respondent-Assessee’s Appeal and setting aside the order dated 30 April 2015 made by the Commissioner of Income Tax (Appeals)-I, Thane, for the Assessment Year 2007-08. 3. The assessee, engaged in the business of distributing photographic and electronic imaging systems, filed its return of income on 31 October 2007, declaring a total income of Rs.11,42,17,803/-. This return was revised on 07 November 2007, declaring a total income of Rs.12,30,39,783/-. 4. The Respondent’s return was selected for scrutiny assessment, and the original assessment was completed un