ITA Nos. 595 & 596/Ahd/2023

Parties Involved

Facts Summary

The assessee, Siddheswari Infrastructure, is a firm engaged in mining contractor business. The case involves appeals against the orders of the Commissioner of Income-tax (Appeals) for the Assessment Years 2016-17 and 2017-18. The Revenue appealed against the orders of the Commissioner of Income-tax (Appeals) for disallowing certain additions made by the Assessing Officer. The assessee had not disclosed certain transactions involving Sadbhav Group, leading to significant unexplained income. The assessee argued that the transactions were already included in the turnover disclosed in the Income Tax Return, leading to double taxation. The Revenue argued that the assessee's books of accounts did not disclose the full nature of the transactions.…

Legal Issues

• 1. Unexplained Transactions
• 2. Estimation of Net Profit
• 3. Disallowance of Depreciation

Judgment Outcome

Decided in favour of Revenue.

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