M/S BHOLA FOOD PRODUCTS(P) LTD.,ALLAHABAD vs. JT. CIT,(OSD), ALLAHABAD

ITA 66/ALLD/2013Status: DisposedITAT Allahabad03 March 2021AY 2005-0614 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the assessee had not produced sufficient evidence, such as a stock register, to substantiate its claims regarding expenses and closing stock. Therefore, the matter was restored to the AO for fresh consideration.

What were the facts?

Following a search and seizure operation, the assessee's assessment was framed under Section 153A. The assessee challenged the validity of the assessment and specific disallowances, claiming no incriminating material was found during the search. The Assessing Officer (AO) and CIT(A) made additions based on discrepancies in stock and expenses.

What were the issues?

Whether the assessment framed under Section 153A was valid without incriminating material, and whether the disallowances of expenses and additions to income based on stock discrepancies were justified.

Which sections of the Income-tax Act were involved?

Section 153A,Section 132(1),Section 143(2),Section 142(1),Section 37(1),Section 145(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ALLAHABAD BENCH, ALLAHABAD

Before: SHRI.VIJAY PAL RAO & SHRI RAMIT KOCHAR

For Appellant: Mr. Praveen Godbole, CA
For Respondent: Mr. Debashish Chanda, CIT-DR
Hearing: 06.01.2021

PER SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER:

These two appeals filed by the assessee, being ITA Nos. 66 & 153/Alld/2013 for assessment year’s(ay’s) : 2005-06 and 2009-10 respectively are directed against two separate appellate orders , firstly appellate order dated 21.11.2012 in appeal no. 499/JCIT/CC/Alld/11-12 passed by learned Commissioner of Income-tax (Appeals), Allahabad , U.P. (hereinafter called “ the CIT(A)”) for ay: 2005-06 and secondly appellate order dated 29.01.2013 passed by learned CIT(A) in appeal number 503/JCIT/CC/Alld/11-12 for ay: 2009-10. The appellate proceedings had arisen before ld. CIT(A) from sepa

The order continues below.

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