K. B. Processing Vs. ITO, Ward-50(6), Kolkata
Case No: I.T.A. No. 2305/Kol/2024
Court: Income Tax Appellate Tribunal (ITAT), Kolkata Bench
Date: 3/17/2025
Parties Involved
appellantK. B. Processing
respondentITO, Ward-50(6), Kolkata
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 a…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the delay in filing the appeal by the assessee was excusable.
Precedents Relied Upon
3 precedents cited in this judgement.