ITAT Jabalpur Judgments — July 2022

SAURABH SINGHAI L/H LATE SHRI MAHENDRA KUMAR JAIN,SAGAR vs INCOME TAX OFFICER-3 SAGAR, SAGAR

ITA 5/JAB/2019[2010-11]Status: Disposed29 Jul 2022AY 2010-11Dismissed

The tribunal held that while the assessment order's title was incorrectly worded, the assessment itself was valid as it was made on the legal representative (the assessee) in a representative capacity. The tribunal also found that the revision order was valid, despite a similar procedural defect, as no prejudice was caused to the assessee.

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 1(1), JABALPUR vs SHRI SANDESH KUMAR JAIN, JABALPUR

ITA 41/JAB/2020[2017-18]Status: Disposed27 Jul 2022AY 2017-18Partly Allowed

The Tribunal held that the excess stock found during the survey represented income from an undisclosed source and not business income. However, it ruled that the higher tax rate under Section 115BBE was not applicable for the period prior to April 1, 2017. The addition of Rs. 24 lacs was upheld as unexplained credit.

M/S VIJAY KUMAR JAIN, HUF, JABALPUR,JABALPUR vs PR.CIT-1, JABALPUR, JABALPUR

ITA 23/JAB/2022[2017-18]Status: Disposed18 Jul 2022AY 2017-18Remanded

The Tribunal found that the large cash deposit during demonetisation, coupled with a change in business practice and lack of explanation for the accumulated cash, raised doubts about the genuineness of the transactions. The Tribunal directed the Assessing Officer to re-examine the matter.

M/S.SAGAR TOBACCO & INDUSTRIES PVT.LTD.,SAGAR vs ASSISTANCE COMMISSIONER OF INCOME TAX CIRCLE 1(1), JABALPUR

ITA 48/JAB/2017[2007-08]Status: Disposed8 Jul 2022AY 2007-08Remanded

The Tribunal restored the matter to the AO to verify if the deductee had paid taxes on the impugned sum. If confirmed, the disallowance would be deleted, considering the retrospective effect of the proviso to Section 40(a)(ia).