M/S. SHRI NATH CORPORATION,JAIPUR vs. DCIT, C.C.-2, JAIPUR

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ITA 117/JPR/2020Status: DisposedITAT Jaipur07 June 2023AY 2017-18Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)44 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal found that the facts of the cases cited by the revenue were distinguishable from the present case. It upheld the deletion of the addition of Rs. 1,56,63,325/- made by the AO on account of cash sales during the pre-demonetization period.

What were the facts?

The case involves cross-appeals by the assessee and revenue concerning the assessment year 2017-18, arising from an order passed under Section 143(3) read with Section 153A of the Income Tax Act. A search action under Section 132 was conducted on the assessee's group.

What were the issues?

The key issues were the rejection of books of accounts, estimation of gross profit rate on declared turnover, additions on account of alleged unaccounted profit from alleged unaccounted sales, and the applicability of Section 115BBE.

Which sections of the Income-tax Act were involved?

Section 145(3),Section 153A,Section 132,Section 143(3),Section 115BBE

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Cases cited in this judgment(10)Show list

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

Before: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 117/JP/2020

For Respondent: Smt. Runi Pal (Add. CIT)
Hearing: 14/03/2023Pronounced: 07/06/2023

Heard together (2 matters)

ITA No. 117/JP/2020
ITA No. 182/JP/2020

Read from the judgment's own cause title. This page is filed under one of them.

vkns'kkuqlkj@ By order,

सहायक पंजीकार@Aेेज. त्महपेजतंत

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