SILKTEX LIMITED,BENGALURU vs. DCIT, CIRCLE-6(1)(1), BANGALORE

ITA 2341/BANG/2025Status: DisposedITAT Bangalore21 September 2026AY 2016-178 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal noted the assessee's failure to provide documentation and the auditor's disclaimers. However, considering the circumstances, the matter was restored to the AO for de novo assessment with a direction to the assessee to furnish all available records.

What were the facts?

The assessee, an EOU, failed to file its original return and did not respond to notices for reassessment. The Assessing Officer treated 10% of export turnover and contract receipts as undisclosed income. The assessee claimed inability to access records due to SARFAESI proceedings.

What were the issues?

Whether the reassessment proceedings were validly initiated and whether the additions made were justified, considering the assessee's inability to produce records.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 148A,Section 144,Section 144B,Section 250,Section 234A,Section 234B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCHES, BANGALORE

Before: SHRI PRASHANT MAHARISHI & SHRI SANDEEP SINGH KARHAIL

PER SANDEEP SINGH KARHAIL, JUDICIAL MEMBER:

The assessee has filed the present appeal against the impugned order dated 07.08.2025, passed under section 250 of the Income Tax Act, 1961 (“the Act”) by the learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [“learned CIT(A)”] for the assessment year 2016-17. ITA 2341/BANG/2025 SILKTEX

The order continues below.

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