M/S KESARWANI JARDA BHANDAR,ALLAHABAD vs. JOINT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, ALLAHABAD

ITA 80/ALLD/2023Status: DisposedITAT Allahabad22 November 202422 pages
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What did the Tribunal hold?

The Tribunal held that additions for sundry creditors where the assessee failed to provide evidence beyond ledger accounts were justified. However, regarding additions based on the DVO's report for investment in construction, the matter was restored to the AO to consider the assessee's objections.

What were the facts?

The assessee's premises were searched, leading to additions for sundry creditors and investment in building based on DVO's report. The ITAT had previously remanded the matter to the CIT(A) for re-adjudication on these issues.

What were the issues?

Whether additions for sundry creditors are justified when only ledger accounts are provided, and whether additions based on DVO's report for investment in construction are valid without considering assessee's objections.

Which sections of the Income-tax Act were involved?

Section 132,Section 153A,Section 143(3),Section 145(3),Section 250,Section 254

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Income Tax Appellate Tribunal, ALLAHABAD BENCH, ALLAHABAD

Before: SH. SUDHANSHU SRIVASTAVA & SH. NIKHIL CHOUDHARY

For Respondent: Dr Neel Jain CIT(DR)
Hearing: 28.08.2024Pronounced: 22.11.2024

PER NIKHIL CHOUDHARY, A.M.: These appeals have been filed by the assessee against the orders of the ld. CIT(A), Lucknow-3, dated 21.06.2023 passed under section 250 r.w.s. 254 of the Income Tax Act, 1961. As the issues involved in all these appeals is the same, they are taken up for hearing and disposed of by a common order for the sake of convenience.

2.

The grounds of appeal filed by the assessee are as under:- “1. That in any view of the matter in respect of business activity regular books of account have been maintained which are audited year after year and trading result has been accepted by the department in past and even proviso to section 145(3) was not invoked henc

The order continues below.

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