HARIOM COLD STORAGE,DHARAWARA vs. ITO 4(4), INDORE

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ITA 435/IND/2024Status: DisposedITAT Indore13 May 2025AY 2017-18Bench: BHAGIRATH MAL BIYANI (Accountant Member), SHRI PARESH M JOSHI (Judicial Member)1 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that the impugned order by the CIT(A) did not properly examine the merits of the case, and the assessee, despite the opportunities provided, could not fully utilize them due to specific circumstances. The Tribunal set aside the order and remanded the case back to the AO for fresh adjudication.

What were the facts?

The assessee, a partnership firm engaged in cold storage, filed a return of income declaring 'NIL' income for AY 2017-18. The case was selected for scrutiny due to large cash deposits during demonetization. The Assessing Officer (AO) rejected the assessee's cash book, treating the Rs. 54,02,000 deposit as unexplained cash credit and initiating penalty proceedings.

What were the issues?

Whether the CIT(A) erred in confirming the addition of unexplained cash credit without properly adjudicating the additional evidence filed by the assessee due to genuine reasons.

Which sections of the Income-tax Act were involved?

Section 139,Section 143(1),Section 143(2),Section 142(1),Section 68,Section 145(3),Section 115BBE,Section 271AAC,Section 250,Section 250(6),Section 46A

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Income Tax Appellate Tribunal, INDORE BENCH, INDORE

For Appellant: Shri S.N. Joshi, AR
For Respondent: Shri Ashish Porwal, Sr. DR
Hearing: 06.05.2025Pronounced: 13.05.2025

5.1 Impugned order is set aside as and by way of remand back on denovo basis back to the file of Ld. A.O to pass a fresh order on denovo basis.

5.2 Appeal allowed for statistical purpose.

Order pronounced in open court on 13.05.2025.

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