GENBUILD INFRAHOUSE PRIVATE LIMITED Vs. DCIT CENTRAL CIRCLE

Parties Involved

Facts Summary

The assessee, GENBUILD INFRAHOUSE PRIVATE LIMITED, filed appeals against the order of the Commissioner of Income Tax (Appeals) in New Delhi, which upheld the orders of the Assessing Officer passed under sections 147/143(3) and 144 of the Income-tax Act, 1961. The assessee argued that the loans received were non-genuine and accommodation entries, and that they were not given an adequate opportunity to be heard. The assessee did not appear for the hearing despite repeated notices, including via RPAD. The Commissioner of Income Tax (Appeals) had relied on a decision of the Hon'ble Supreme Court in Commissioner of Income Tax v. B.N. Bhattacharjee (118 ITR 461) to decide the appeal.…

Legal Issues

• 1. Whether the loans received by the assessee are genuine or accommodation entries?
• 2. Whether the assessee was given adequate opportunity to be heard?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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