Nila Infrastructures Ltd received an order from the IT Appellate Authority regarding its AY 2018-19 assessment. The authority partly allowed the company's appeal, restricting the income addition to ₹33.23 lac. The company stated there is no impact on operations and will seek legal consultation for further action.
Nila Infrastructures Ltd received an order from the Income Tax Appellate Authority deleting previous tax demands, interest, and penalties related to search operations for multiple assessment years. Consequently, no liability survives against the company for these periods. This is a positive development as it eliminates potential financial liabilities previously raised by the Assessing Officer.
