ITA No. 6370/DEL/2025; Assessment Year: 2018-19
Parties Involved
Facts Summary
The assessee, Sh. Surinder Kumar Malhotra, did not file his return for A.Y. 2018-19. Based on information available on the Insight portal of the department regarding various transactions amounting to Rs. 1,55,50,950/- undertaken by the assessee during the year, a notice u/s 148 was issued by the Ld. AO. As no compliance was made to various notices issued to him, the assessment was completed u/s 147 r.w.s 144 r.w.s 144B of the Act determining the income of Rs. 1,55,50,950/-. Aggrieved, the assessee preferred an appeal before Ld. CIT(A). Before Ld. CIT(A) also, the assessee failed to submit any reply. In view of persistent non-compliance, Ld. CIT(A) dismissed the appeal ex-parte vide order dated 27.02.2025. Aggrieved further, the assessee preferred an appeal before the Tribunal.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the delay in filing the appeal is condoned.
- 2. Whether the NFAC erred in dismissing the appeal without passing a speaking order.
- 3. Whether the addition of Rs. 1,35,73,593 on account of aggregate payments made through various credit cards is lawful.
- 4. Whether the addition of Rs. 19,77,357/- in respect of sale of equity shares is lawful.
- 5. Whether the interest under section 234A, 234B and 234C of the Act should be cancelled.
- 6. Whether the initiation of penalty u/s 270A of the Act should be cancelled.
Judgment Outcome
Decided in favour of Assessee.
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