Apurva Mukesh Thakkar Vs. ITO Ward 41(2)(1) Mumbai

Parties Involved

Facts Summary

The assessee, Apurva Mukesh Thakkar, is an individual who was carrying on business as a proprietor of M/s Bhavana Televentures during the relevant previous year. He did not file a return of income under section 139(1) of the Income-tax Act, 1961. The Assessing Officer received information about suspicious bank transactions during F.Y. 2010-11 and issued a notice under section 148 of the Act. The assessee filed his return of income on 19.10.2018, declaring a total income of Rs. 8,42,310/-. During reassessment, the Assessing Officer noted large credits in the assessee's bank accounts and, due to lack of satisfactory explanation, treated the entire sum as unexplained money under section 69A of the Act. The total income was assessed at Rs. 7,95,02,133/-. The assessee appealed to the Commissioner of Income Tax (Appeals), who dismissed the appeal, confirming the addition. Aggrieved by this, the assessee filed the present appeal.…

Legal Issues

• 1. Whether the order passed by the CIT(A) is bad in law.
• 2. Whether the CIT(A) erred in confirming the order passed by the AO in violation of natural justice.
• 3. Whether the addition of Rs. 7,86,59,827/- should be deleted.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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