ITA No. 234/Ahd/2021

Parties Involved

Facts Summary

The assessee filed an original return of income on 29.09.2018 declaring a total income of Rs. 3,28,56,020/-. The case was selected for scrutiny under CASS complete scrutiny, and a notice under Section 143(2) of the Income Tax Act, 1961 was issued on 20.09.2019. The Assessing Officer observed that the assessee received Rs. 2.03 Cr. in cash, which had been booked as 'labour and material expenses'. The assessee disclosed this income as unaccounted income and offered it for tax. However, the Assessing Officer made an addition of Rs.2,50,47,000/- as unexplained money under Section 69A of the Act. The assessee filed an appeal before the Commissioner of Income-tax (Appeals)-12, Ahmedabad, which partly allowed the appeal. The Revenue filed an appeal against the order of the Commissioner of Income-tax (Appeals)-12, Ahmedabad dated 19.07.2021.…

Legal Issues

• 1. Whether the Commissioner of Income-tax (Appeals)-12, Ahmedabad was right in deleting the addition made by the Assessing Officer?

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

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