ITA 3383/MUM/2025 KAALSOHI PAPER TRADERS PRIVATE LIMITED

Parties Involved

Facts Summary

The assessee, a private limited company, filed its income return for the year under consideration on 30/10/2017, declaring a total income of Rs.15,680/-. The case was selected for complete scrutiny through CASS. The assessee did not respond to the notices issued during the assessment proceedings, leading to an ex-parte assessment under section 144 of the Act. The Assessing Officer noticed cash deposits of Rs.31,45,000/- in the bank account of the assessee during the relevant financial year and treated them as unexplained money under section 69A of the Act, making an addition of Rs.31,45,000/-. The assessee appealed against this order to the Commissioner of Income Tax (Appeals). During the appellate proceedings, the assessee sought an opportunity to present its case but failed to do so effectively, leading to the dismissal of the appeal. The assessee then filed the present appeal before the Tribunal, seeking condonation of the delay in filing the appeal.…

Legal Issues

• 1. Whether the delay of 378 days in filing the appeal should be condoned?
• 2. Whether the addition made by the Assessing Officer under section 69A of the Act should be examined on merits?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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