YUWAM EDUCATION PVT. LTD.,JAIPUR vs. DCIT, CIRCLE-6, JAIPUR, JAIPUR

ITA 1029/JPR/2024Status: DisposedITAT Jaipur20 December 2024AY 2016-17Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)24 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal noted that both parties agreed that the issues required verification by the AO. The assessee also claimed a lack of proper opportunity to be heard regarding expenditure disallowances. Therefore, the matter was restored to the AO for fresh inquiry.

What were the facts?

During a survey, the assessee surrendered undisclosed income of Rs. 46,68,283/-. The Assessing Officer (AO) proposed to tax this amount under Section 115BBE and also made an addition for suppressed profits based on a discrepancy between net profit at the time of survey and declared profit. The CIT(A) upheld the AO's order.

What were the issues?

Whether the surrendered income is taxable under Section 115BBE and whether the addition for suppressed profits is justified, requiring further verification.

Which sections of the Income-tax Act were involved?

Section 115BBE,Section 143(3),Section 133A

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Income Tax Appellate Tribunal, JAIPUR BENCHES,”A” JAIPUR

Before: SHRI RATHOD KAMLESH JAYANTBHAI, AM & SHRI NARINDER KUMAR, JM vk;dj vihy la-@ITA No.1029/JP/2024

Hearing: 11/12/2024Pronounced: 20/12/2024

PER: RATHOD KAMLESH JAYANTBHAI, AM

By way of the present appeal the assessee challenges the findings of the Commissioner of Income Tax (Appeals), Jaipur - 4 [ for short CIT(A) ]recorded in order dated 07/06/2024 for assessment year 2016-17. That order of ld. CIT(A) has arisen because the assessee challenged assessment order dated 28.12.2018 passed under section 143(3) of the Income Tax Act, [ for short Ac

The order continues below.

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