Kantilal Rupchand Jain vs NFAC

Parties Involved

Facts Summary

The case involves two appeals filed by the assessee and the revenue against the same order of the Commissioner of Income Tax (Appeal) for the Assessment Year 2020-2021. The assessee, Kantilal Rupchand Jain, has raised several grounds of appeal against the order passed by the Commissioner of Income Tax (Appeal). The revenue has also raised grounds of appeal, primarily focusing on the disallowance of certain purchases and the levy of interest. The assessee's advocate submitted documents before the Commissioner of Income Tax (Appeal) without prior submission to the Assessing Officer, which led to a violation of Rule 46A of the Income Tax Rules.…

Legal Issues

• 1. Whether the Commissioner of Income Tax (Appeal) erred in upholding the order passed by the Assessing Officer under section 143(3) read with section 144B of the Act.
• 2. Whether the Commissioner of Income Tax (Appeal) erred in upholding the disallowance of 5% of total purchases under section 69C of the Act.
• 3. Whether the Commissioner of Income Tax (Appeal) erred in upholding the action of the Assessing Officer of invoking the provisions of section 115BBE of the Act.
• 4. Whether the Commissioner of Income Tax (Appeal) erred in sustaining the levy of interest under sections 234A, 234B, and 234C of the Act.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

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