FOOD RESEARCH AND ANALYSIS CENTRE vs. ITO, WARD 1(1), NEW DELHI

Parties Involved

Facts Summary

The assessee, FOOD RESEARCH AND ANALYSIS CENTRE, did not file its return of income for the assessment year 2011-12 in compliance with a notice under section 148 of the Act. The assessee submitted that its name was changed in August 2008 to 'FICCI Research and Analysis Centre' and a new PAN was allotted in January 2009. The assessee claimed that it had been filing returns under the new name and new PAN since AY 2011-12. The Assessing Officer (AO) was not convinced with these submissions and held that the assessee had obtained two PANs and had not accounted for all receipts. The AO concluded that a discrepancy of Rs. 21,64,544/- existed and brought this amount to tax. The assessee appealed to the Commissioner of Income Tax (Appeals) (CIT(A)), who confirmed the AO's addition. Aggrieved, the assessee appealed to the Tribunal.…

Legal Issues

• 1. Whether the order passed by the Ld. CIT(A) confirming the addition order passed by AO is based on the facts and circumstances of the case.
• 2. Whether the orders passed by the Ld. CIT(A) confirming the addition order passed by AO are against the principles of natural justice and bad in law.
• 3. Whether the addition of Rs. 21,64,544/- confirmed by the Ld. CIT(A) is erroneous, unjustified, unwarranted, and unreasonable.

Judgment Outcome

Decided in favour of Assessee.

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