ACIT vs. Anil Kumar Rajput

Parties Involved

Facts Summary

The assessee, Anil Kumar Rajput, filed a return of income declaring income of Rs. 6,20,000/- for the year under consideration. The Assessing Officer (AO) observed that the assessee had made significant transactions considered to be suspicious transactions as bogus sale and purchase entered in his books of accounts for the manage of unaccounted cash through the nexus managed by entry operator Mr. Rajeev Singh Kushwaha to the tune of Rs. 36,25,099/-. The AO made additions to the income of the assessee u/s 69C r.w.s. 115BBE of the 1961 Act, vide reassessment order dated 23.05.2023. The assessee filed an appeal with the Commissioner of Income Tax (Appeals) (CIT(A)), who deleted the additions based on the additional evidence submitted by the assessee during the appellate proceedings. The Revenue filed an appeal before the Tribunal, which was dismissed.…

Legal Issues

• 1. Whether the Ld. CIT(A)/NFAC has erred in deleting the addition of Rs. 36,25,099/ made u/s 69C of the Act.
• 2. Whether the Ld. CIT(A)/NFAC was right in allowing the appeal of the assessee merely relying on the remand report of the AO and without carrying out any further enquiry into the matter.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

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