K N K Hospitality vs. ITO, Ward 1(1)

Parties Involved

Facts Summary

The assessee, K N K Hospitality, has filed an appeal against the order of the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre (CIT(A)/NFAC) passed under section 250 of the Income Tax Act. The assessee challenges the ex-parte order of the CIT(A) in sustaining the addition under section 69A of the Act made by the Assessing Officer. The Income Tax Department found substantial financial transactions of cash deposits and withdrawals in the assessee's bank account for the financial year 2017-18. The assessee did not file the return of income for the assessment year 2018-19. The Assessing Officer issued notices under sections 148A(b) and 148A(d) of the Act, but the assessee did not respond. Further, a notice under section 142(1) of the Act was issued to explain the transactions of cash deposits and withdrawals. The assessee filed a reply on 11.12.2023, but the Assessing Officer was not satisfied with the explanations and made an addition of unexplained money under section 69A of the Act. The CIT(A) dismissed the assessee's appeal, and the assessee filed an appeal with the Hon’ble Tribunal.…

Legal Issues

• 1. Whether the CIT(A) erred in confirming the action of the Assessing Officer?
• 2. Whether the assessee has a good case of merits?

Judgment Outcome

Decided in favour of Assessee.

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