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

Parties Involved

Facts Summary

This is an appeal preferred by the revenue against the impugned orders of the Ld. CIT(A)-02, Lucknow dated 22/09/2020 for the assessment year 2017-18. The assessee's total income was determined at Rs.4,49,23,515/- as against the returned income of Rs.1,15,40,310/-. The additions made in the assessment order included an amount of Rs.3,03,35,000/- on account of unexplained cash credit and an amount of Rs.40,58,360/- on account of rental receipt. The Ld. CIT(A) partly allowed the assessee's appeal and deleted the addition amounting to Rs.40,58,360/-. Instead of the aforesaid amount of Rs.3,03,35,000/-, she directed the AO to make an addition @ 15% of this amount. The present appeal before us has been filed by revenue against the aforesaid impugned appellate order dated 22/09/2020 of the Ld. CIT(A).…

Legal Issues

• 1. Addition of Rs.3,03,35,000/- on account of unexplained cash credit.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

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