M/S MAHESHWARI COAL BENEFICATION& INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

ITA 108/NAG/2024Status: DisposedITAT Nagpur26 December 2024AY 2009-10Bench: SHRI V. DURGA RAO (Judicial Member)85 pages
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What did the Tribunal hold?

The Tribunal held that the assessments under Section 153C for AY 2009-10 to 2012-13 were barred by limitation. It also deleted additions made under Section 68 for all the impugned assessment years, finding them to be either unsubstantiated or double additions. Issues related to unabated years were left undecided as the primary assessments were quashed.

What were the facts?

The assessee's appeals challenged assessments made under Section 153C for AY 2009-10 to 2013-14. The assessments were based on documents seized from third parties during a search conducted on January 22, 2019. The assessee argued that the assessments were time-barred and that no incriminating material was found for unabated years.

What were the issues?

Whether assessments made under Section 153C were barred by limitation due to the time limit prescribed in the first proviso to Section 153C and Explanation 1 to Section 153A. Whether additions made under Section 68 for unexplained cash credits were justified, especially when the amounts were declared under IDS or represented double additions.

Which sections of the Income-tax Act were involved?

Section 153C,Section 153A,Section 68,Section 132,Section 133A

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Income Tax Appellate Tribunal, NAGPUR BENCH, NAGPUR

Before: SHRI V. DURGA RAO, & SHRI K.M. ROY, ACCOUNTANT MMBER

For Appellant: Shri Sunil Kumar Agrawal
For Respondent: Shri Sandipkumar Salunke

PER BENCH

These captioned appeals are filed by the assessee challenging the impugned orders of even date 18/01/2024 passed under section 250 of the Income Tax Act, 1961 (“the Act”) by the learned Commissioner of Income Tax (Appeals)–. Nagpur, [“learned CIT(A)”], for the assessment year 2009–10, 2010–11, 2011–12, 2012–13 and 2013–14 respectively.

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Since all thes

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