ITA No.30/Alld/2024

Parties Involved

Facts Summary

The assessee, Unisun Housing Company Limited, filed an appeal against the order of the Income Tax Officer, Ward-2(3), Allahabad, which assessed an income of Rs.62,25,390/-. The assessee argued that the assessment was incorrect and that the addition of Rs.20,00,000/- made by the assessing officer under section 68 of the Income Tax Act was unjustified. The case was transferred to the Addl/JCIT(A)-Jaipur, who dismissed the appeal. The assessee then appealed to the Income Tax Appellate Tribunal (ITAT), which restored the matter for verification of the amount reflected under unsecured loans on account of advance booking against plots. The Tribunal found that the assessee had not produced the necessary documents and agreements, leading to the addition of Rs.20,00,000/- under section 68 of the Act.…

Legal Issues

• 1. Whether the assessment completed on income of Rs.20,99,490/ by order dated 03.12.2019 u/s 143(3) is bad both on the fact and in law.
• 2. Whether the learned CIT(A) was wrong in passing the order ex-parte without providing reasonable opportunity to the assessee.

Judgment Outcome

Decided in favour of Assessee.

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