DCIT, Range-3 v. M/s. Om Auto Pvt. Ltd.

Parties Involved

Facts Summary

This case involves an appeal by the revenue against the orders of the Commissioner of Income Tax (Appeals) for the assessment year 2017-18. The assessee, M/s. Om Auto Pvt. Ltd., did not appear for the hearing despite notice being served. The appeal pertains to two disputes: the addition of Rs.2,82,30,654/- on account of unexplained cash credits and the addition of Rs.58,97,177/- on account of daily cash summary. The Commissioner of Income Tax (Appeals) partly allowed the assessee's appeal by deleting the addition of Rs.58,97,177/- and directing a 15% addition on the amount of Rs.2,82,30,654/-. The revenue filed an appeal against this order.…

Legal Issues

• 1. Addition of Rs.2,82,30,654/- on account of unexplained cash credits
• 2. Addition of Rs.58,97,177/- on account of daily cash summary

Judgment Outcome

Decided in favour of Revenue.

Precedents Relied Upon

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