ITA No. 229/PAT/2023 (A.Y. 2019-2020) - Bhagwati Construction

Parties Involved

Facts Summary

A survey operation under section 133A was carried out at the business premises of the assessee on 28.02.2019. The assessee filed its return of income declaring total income at Rs.75,15,963/-. Since the survey was conducted at the premises of the assessee, its case was selected for scrutiny assessment and a notice under section 143(2) was issued and served on 28.09.2020. The Assessing Officer observed that he had received the case on transfer on 02.08.2021. He issued questionnaires under section 142(1) and passed the assessment order on 30.09.2021. The Assessing Officer determined the taxable income of the assessee at Rs.7,46,25,580/-, which includes the declared income of the assessee. The assessee carried the matter before the Commissioner of Income Tax (Appeals) and contended that the Assessing Officer made substantial additions to the declared income but did not grant sufficient opportunity to submit the required details.…

Legal Issues

• 1. Whether the Assessing Officer provided sufficient opportunity to the assessee to explain the accounting entries.

Judgment Outcome

Decided in favour of Assessee.

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