SHRI RAJESH JAIN,INDORE vs. THE ITO, INDORE

ITA 678/IND/2013Status: DisposedITAT Indore16 January 2018AY 2009-106 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal set aside both issues to the file of the AO. The AO was directed to admit additional evidence, verify the receipt of alleged unaccounted sales, and re-examine the nature of the sundry creditors.

What were the facts?

The assessee's income tax return was selected for scrutiny, and the Assessing Officer (AO) made additions for alleged undisclosed contractual receipts and unexplained unsecured loans. The Commissioner of Income-tax (Appeals) confirmed these additions.

What were the issues?

Whether undisclosed contractual receipts and unsecured loans were genuine and properly explained. The admissibility of additional evidence was also a key issue.

Which sections of the Income-tax Act were involved?

Section 68,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, INDORE BENCH, INDORE

Before: SHRI KUL BHARAT & SHRI MANISH BORAD

For Appellant: Shri Ashish Goyal & Shri N.D
For Respondent: Shri Rajeev Jain, Sr.DR, Shri Ashish Goyal & Shri N.D
Hearing: 02.01.2018Pronounced: 16.01.2018

PER MANISH BORAD, AM.

This appeal filed by the Assessee is directed against the order of ld. Commissioner of Income-tax (Appeals)-1, Indore [in short referred to as the CIT (A)] dated 16.09.2013 arising out of the order u/s 250/143(3) of the Income Tax Act dated 28.12.2011 framed by the Income Tax Officer, Ward 2(2), Indore pertaining to Assessment Year 2009-10. ITA No.678/Ind/2013, A.Y. 2009-10 Rajesh Jain

2.

The assessee has taken following grounds of appeal.

“1(a) That, the learned CIT(A) grossly erred, both on facts and in law, in confirming addition of Rs.27,00,000/- made by the Assessing Officer in

The order continues below.

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