AV Ispat Private Limited vs ACIT, Central Circle-2

Parties Involved

Facts Summary

The assessee, AV Ispat Private Limited, appealed against the order of the Commissioner of Income-tax (Appeals) dated 28.04.2023, which arose from the assessment order under Section 143(3) of the Income-tax Act, 1961 dated 14th March, 2022. The assessee challenged the validity of reassessment proceedings and the additions made by the Assessing Officer for the assessment year 2014-15. The assessee did not appear for the hearings on 29th July, 2024, and 30th July, 2024, and also did not file any written submissions. The Tribunal found that the order of the Commissioner of Income-tax (Appeals) was ex-parte and did not comply with the mandate given in the Act. The Tribunal decided to restore the appeals to the file of the Commissioner of Income-tax (Appeals) for afresh adjudication after giving the assessee a sufficient opportunity to be heard.…

Legal Issues

• 1. The order passed by the Commissioner of Income-tax (Appeals) is unjust, unwarranted, and bad in law.
• 2. The Commissioner of Income-tax (Appeals) failed to appreciate and/or overlooked and/or did not consider the submissions made by the appellant.
• 3. The Commissioner of Income-tax (Appeals) erred in confirming the invocation of the provisions of section 147 of the act for disturbing the settled position.
• 4. The Commissioner of Income-tax (Appeals) erred in confirming the wrongful quantification of a sum of Rs 25,00,084/- being the amount of unsecured loan received by the appellant.
• 5. The Commissioner of Income-tax (Appeals) erred in treating the sum of Rs 25,00,084/- as income of the appellant.
• 6. The Commissioner of Income-tax (Appeals) erred in making addition of impugned amount of Rs 25,00,084/- to the income of the appellant.

Judgment Outcome

Decided in favour of Assessee.

Similar Judgements

• Zakia Begum vs. ITO, Ward 30(1)

  Delhi Bench benchAY 2006-07Allowed

• Uttar Bhartiya Education Society vs. ITO

• Krishnappa Paramesh vs. ITO

  Bangalore bench

• Naveen Pathak Vs. ITO

  Delhi bench

• Rajinder Singh Negi vs. Asstt. Commissioner of Income Tax

  Chandigarh bench

• Pee Kay Vanijya Private Limited Vs DCIT, Circle-7(1), Kolkata

  Kolkata bench