K. B. Processing Vs. ITO, Ward-50(6), Kolkata

Parties Involved

Facts Summary

The assessee, K. B. Processing, did not file a return of income for the Assessment Year 2017-18. It came to the notice of the Assessing Officer (AO) that a huge cash deposit was made in the bank account of the assessee, particularly during the demonetization period and FY 2016-17. A notice under section 142(1) was issued to the assessee, but no return was filed in response. The assessee was non-compliant, leading the AO to assess the income and add Rs. 39,50,020/-. Aggrieved by this order, the assessee appealed to the Commissioner of Income Tax (Appeals)-NFAC, Delhi (Ld. CIT(A)), whose order was subsequently dismissed due to delay in filing the appeal. The assessee then appealed to the ITAT, Kolkata Bench.…

Legal Issues

• 1. Whether the delay in filing the appeal by the assessee was excusable.

Judgment Outcome

Decided in favour of Assessee.

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