SHRI SHAH AFROZE HOSSAIN,BHAGALPUR vs. DY. CIT, CENT, CIR-2, PATNA, PATNA

ITA 711/PAT/2024Status: DisposedITAT Patna30 December 2025AY 2022-23Bench: Shri Sonjoy Sarma (Judicial Member), Shri Rakesh Mishra (Accountant Member)1 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal found that applying a GP rate on seized turnover for brick kiln business was unjustified. A net profit rate of 16% was deemed appropriate for undisclosed turnover. The addition for unexplained money introduced was deleted due to sufficient cash availability. The Section 50C issue was remanded. The addition for unexplained expenditure was deleted due to lack of nexus and the principle of telescoping.

What were the facts?

The assessee filed his return of income for AY 2022-23. A search and seizure operation was conducted, leading to additions by the Assessing Officer for undisclosed business income, unexplained money, under Section 50C, and unexplained expenditure. The CIT(A) partly allowed the appeal, restricting some additions and restoring the Section 50C issue.

What were the issues?

Sustenance of additions for undisclosed business income, unexplained money, Section 50C, and unexplained expenditure.

Which sections of the Income-tax Act were involved?

Section 250,Section 132,Section 143(2),Section 142(1),Section 50C,Section 50C(2)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘PATNA’ BENCH VIRTUAL HEARING AT KOLKATA

Before: Shri Sonjoy Sarma & Shri Rakesh Mishra

Per Sonjoy Sarma, Judicial Member:

This appeal filed by the assessee is directed against the order of the CIT(A), Patna-3 (hereinafter referred to as “ld. CIT(A)”) dated 22.10.2024 passed under Section 250 of the Income-tax Act, 1961 (hereinafter referred to as the “Act”).

2.

Brief facts of the case are that the assessee filed his return of income for the Assessment Year 2022–23 declaring a total income of ₹75,56,770, comprising the income from business of ₹6,54,569, long- term capital gains: ₹49,60,293 and income from other

The order continues below.

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