SILVASSA ASBESTOS CEMENT PRODUCTS,MUMBAI vs. ACIT CIRCLE- 18(3), MUMBAI

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ITA 672/MUM/2023Status: DisposedITAT Mumbai12 May 2023AY 2015-164 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that the CIT(A) erred in dismissing the appeal for non-compliance without proper adjudication. The case was restored to the CIT(A) for a fresh adjudication on merits after providing an opportunity to the assessee.

What were the facts?

The Assessing Officer made an addition of Rs. 11,92,296/- under Section 41(1) on account of cessation of liability to sundry creditors, as their notices were returned unserved. The assessee later provided compliance letters from these creditors.

What were the issues?

Whether the CIT(A) properly adjudicated the appeal and provided sufficient opportunity to the assessee. Whether the addition under Section 41(1) was justified without considering the assessee's submissions.

Which sections of the Income-tax Act were involved?

Section 41(1),Section 250(6)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “G” BENCH, MUMBAI

Hearing: 10.05.2023Pronounced: 12.05.2023

आदेश की प्रतितिति अग्रेतिि/Copy of the Order forwarded to : 1. अपीलाथी / The Appellant 2. प्रत्यथी / The Respondent. 3. आयकर आयुक्त / CIT 4. विभागीय प्रविविवि, आयकर अपीलीय अविकरण DR, ITAT, Mumbai 5. गार्ड फाईल / Guard file.

P a g e | M/s Silvassa Asbestos Cement Products Vs. ACIT, Circle-18(3)

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