SEN FERRO ALLOYS (P) LTD.,KOLKATA vs. A.C.I.T., CC - 4(3), KOLKATA

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ITA 2376/KOL/2024Status: DisposedITAT Kolkata21 April 2025AY 2021-2022Bench: SHRI RAJESH KUMAR (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal held that the assessment framed u/s 143(3) was invalid because the proper course of action, given the incriminating material found during a third-party search, should have been u/s 153C, which is a special provision. Therefore, the assessment was quashed.

What were the facts?

The assessee company made cash payments of Rs. 30,00,000/- to Majee Group, which was found to be engaged in sales of illegal coal during a search operation. The AO treated this as unexplained expenditure u/s 69C and added it to the assessee's income. The CIT(A) upheld this addition.

What were the issues?

Whether the assessment framed under Section 143(3) was valid when the AO had incriminating material from a search on a third party, or if Section 153C was the appropriate provision.

Which sections of the Income-tax Act were involved?

Section 69C,Section 143(3),Section 142(1),Section 147,Section 148,Section 132,Section 153C

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Income Tax Appellate Tribunal, “SMC” BENCH, KOLKATA

Before: SHRI RAJESH KUMAR

Hearing: 17/04/2025Pronounced: 21/04/2025

आदेशक���त�ल�पअ�े�षत/Copy of the Order forwarded to :

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