DCIT, CENTRAL CIRCLE-1, GUWAHATI, ASSAM vs. BSPL (INDIA) PRIVATE LIMITED, ASSAM

ITA 145/GTY/2023Status: DisposedITAT Guwahati12 June 2026AY 2019-2031 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the CIT(A) erred in treating the seized documents as 'dumb documents' and in deleting additions based on them. However, it noted that the AO did not properly adjudicate issues based on the seized material, particularly regarding profit estimation.

What were the facts?

The Revenue appealed against the CIT(A)'s orders deleting additions made on account of unexplained cash credits, interest expenses on bogus loans, and business income from an excel sheet. The additions were based on incriminating documents found during a search and seizure operation.

What were the issues?

Whether seized documents found during a search are 'dumb documents' and if additions based on them were correctly deleted by the CIT(A). Whether the assessment under Section 153A was properly adjudicated by the AO.

Which sections of the Income-tax Act were involved?

Section 68,Section 69A,Section 153A

AI-generated summary — verify with the full judgment below

IN THE INCOME TAX APPELLATE TRIBUNAL “GUWAHATI BENCH”, GUWAHATI (VIRTUAL HEARING AT KOLKATA) SHRI DUVVURU RL REDDY, VICE PRESIDENT SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER Assessment Year : 2018-19 Guwahati - 781005 GPO, Kamrup - 781001 [PAN: AABCB2229C] APPELLANT RESPONDENT Assessment Year : 2018-19 Tax, Central Circle-1, Assam, Limited, Aayakar Bhawan, G.S.Road, 5th Floor, Anandi Bhawan, Guwahati - 781005 SRCB Road, Fancy Bazar, Guwahati - 781001 [PAN: AAFCD3566J] APPELLANT RESPONDENT Assessment Year : 2019-20 Tax, Central Circle-1, Guwahati, Limited, Aayakar Bhawan, G.S.Road, Commerce House, SRCB Guwahati - 781005 Road, Fancy Bazar, Guwahati, Assam - 781001 [PAN: AABCB2229C] APPELLANT RESPONDENT : Revenue by Santosh Kumar Karnani, Addl. CIT : Assessment Year : 2014-15

DCIT, Circle-1, Vs. Mahavir Prasad Jain, Room 417, Aayakar Bhavan, Hati Gola, S.R.C.B. Road, Chistian Basti, Guwahati -781005 Fancy Bazar, Guwahati - 781001 [PAN: AFXPJ4490

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