Ocean International Vs. ITO

Parties Involved

Facts Summary

These appeals are filed by the assessee, Ocean International, against different orders of the Ld. Commissioner of Income Tax (Appeals)/NFAC, Delhi, for the assessment years 2013-14 to 2017-18. The assessee raised several grounds including invalid reopening under section 147, violation of natural justice, erroneous ex-parte dismissal, unsustainable addition on merits, excessive addition, and invalid interest and penalty proceedings. The assessee's counsel argued that the appeals were disposed of ex-parte and that the assessment was made without providing adequate opportunity to explain the queries raised. The Departmental Representative had no serious objection to restoring the files to the Assessing Officer for re-examination of the issues.…

Legal Issues

• 1. Invalid Reopening under section 147
• 2. Violation of Natural Justice at AO Level
• 3. Ex-Parte Dismissal by CIT(A)
• 4. Addition on Merits Unsustainable
• 5. Excessive Addition - Only Profit Element Taxable
• 6. Interest and Penalty Proceedings Invalid

Judgment Outcome

Decided in favour of Assessee.

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