HARIOM COLD STORAGE,DHARAWARA vs. ITO 4(4), INDORE
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.
Held
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.
Key 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.
Sections Cited
139, 143(1), 143(2), 142(1), 68, 145(3), 115BBE, 271AAC, 250, 250(6), 46A
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, INDORE BENCH, INDORE
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.
Sd/- Sd/-
(BHAGIRATH MAL BIYANI) (PARESH M JOSHI) ACCOUNTANT MEMBER JUDICIAL MEMBER
Indore िदनांक/ Dated : 13/05/2025
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Hariom Cold Storage ITA No. 435/Ind/2024 - A.Y.2017-18
Dev/Sr. PS Copies to: (1) The appellant (2) The respondent (3) CIT (4) CIT(A) (5) Departmental Representative (6) Guard File
By order COPY Senior Private Secretary Income Tax Appellate Tribunal Indore Bench, Indore
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