ITAT Jabalpur Judgments — October 2021

VARSMA ENGINEERS GROUP,JABALPUR vs ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1(1), JABALPUR

ITA 224/JAB/2018[2008-09]Status: Disposed22 Oct 2021AY 2008-09Allowed

The Tribunal held that the reasons recorded for reopening the assessment were not valid. The reasons were based on an audit objection and did not constitute a 'reason to believe' escapement of income as required by law.

SHRI GOPAL AGRAWAL HUF,BETUL vs INCOME TAX OFFICER WARD BETUL, BETUL

ITA 255/JAB/2018[2013-14]Status: Disposed22 Oct 2021AY 2013-14Dismissed

The Tribunal held that the nature of the transaction was not explained, nor was it substantiated with adequate details or contemporaneous material. The Tribunal also noted contradictions in the assessee's explanations and the lack of supporting evidence for freight charges.

SHRI GOVIND RATHI, PROP. GOVIND DALL MILL,HOSHANGABAD vs DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE ITARSI, ITARSI

ITA 4/JAB/2019[2012-13]Status: Disposed22 Oct 2021AY 2012-13Remanded

The Tribunal held that the genuineness of the loans was not satisfactorily proved as the source of cash deposited by the creditors in their bank accounts remained unexplained. The matter was remitted back to the Assessing Officer for fresh adjudication.

M/S.ASIT DIXIT,JABALPUR vs INCOME TAX OFFICER WARD2(2), JABALPUR

ITA 19/JAB/2020[2005-06]Status: Disposed7 Oct 2021AY 2005-06Partly Allowed

The Tribunal upheld the AO's estimation of profit at 2% of sales as reasonable, considering the absence of comparable cases supporting the assessee's claim. However, regarding the unexplained capital, the Tribunal set aside the addition and remanded the matter to the AO for fresh adjudication, allowing the assessee a final opportunity to present evidence.