GUPTA PRIME RESORTS PRIVATE LIMITED,JAIPUR vs. DCIT CENTRAL CIRCLE , AJMER

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ITA 549/JPR/2023Status: DisposedITAT Jaipur30 November 2023AY 2019-20Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)11 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the addition made by the AO under Section 69 was incorrect as the CIT(A) himself admitted its inapplicability. Without independent corroborative evidence, the revenue could not sustain the addition, especially when the AO had considered it as expenditure.

What were the facts?

During a search and seizure operation, the Assessing Officer (AO) made additions to the assessee's income based on certain documents found. The CIT(A) partly allowed the assessee's appeal but sustained some additions. The assessee appealed to the ITAT.

What were the issues?

Whether additions made under Section 69 are sustainable without independent corroborative evidence, and if the CIT(A) can uphold an addition while admitting the AO's invocation of a section is wrong.

Which sections of the Income-tax Act were involved?

Section 69,Section 115BBE,Section 250,Section 153A,Section 132,Section 142(1),Section 234B,Section 271AAC,Section 292B

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

Before: HON’BLE SHRI SANDEEP GOSAIN, JM &

For Appellant: Shri C.M. Agarwal, CA jktLo dh vksj ls@
Hearing: 02/11/2023Pronounced: 30/11/2023

vkns'kkuqlkj@ By order,

सहायक पंजीकार@Aेेज. त्महपेजतंत

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