Dhansamridhi Finance Private Limited (Amalgamated Company) vs. Assistant Commissioner of Income Tax

Parties Involved

Facts Summary

The present appeal is directed at the instance of the assessee against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi dated 24th January, 2024 passed for Assessment Year 2011-12. The assessee has taken nine grounds of appeal, but its grievances revolve around two issues: (a) the Commissioner of Income Tax (Appeals) erred in upholding the reopening of assessment, which is not in consonance with the Standard Operating Procedure (SOP) issued by the Central Board of Direct Taxes (CBDT), and (b) the Commissioner of Income Tax (Appeals) erred in confirming the addition of Rs.1,40,00,000/- by dismissing the appeal for want of prosecution. The assessee argues that the Commissioner of Income Tax (Appeals) did not adjudicate the issues on merit and dismissed the appeal for want of prosecution without following the mandatory procedure under sub-section 6 of Section 250.…

Legal Issues

• 1. The Commissioner of Income Tax (Appeals) erred in upholding the reopening of assessment.
• 2. The Commissioner of Income Tax (Appeals) erred in confirming the addition of Rs.1,40,00,000/- by dismissing the appeal for want of prosecution.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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