Girdhari Lal Kedar Nath Singhal vs. ITO

Parties Involved

Facts Summary

The assessee, a partnership firm, filed its return of income for the Assessment Year 2017-18 declaring a total income of Rs.5,54,200/-. The return was processed under section 143(1) of the Income-tax Act, 1961. The case was selected for scrutiny, and notices under sections 143(2) and 142(1) were issued. The Assessing Officer observed that the assessee declared gross receipts under the head 'rent' for Rs.2,00,54,349/- and net profit of Rs.4,94,875/-. The AO issued notices asking for relevant information and disallowed unverified expenditures of special contracts to the extent of Rs.28,60,972/-. The assessee appealed against the order of the Additional Commissioner of Income Tax (Appeals).…

Legal Issues

• 1. Disallowance of unverified expenditure of special contracts.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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