Kaushik Purshottamdas Sakaria vs. ITO

Parties Involved

Facts Summary

The assessee, engaged in the jewellery business, filed an income return declaring a total income of Rs. 3,76,400/-. The Assessing Officer assessed the total income at Rs. 48,10,540/- after making an addition of Rs.39,68,500/- under section 69A of the Income Tax Act, 1961, and disallowing expenses amounting to Rs.4,65,637/-. The assessee appealed against the order passed by the Commissioner of Income Tax (Appeals), who dismissed the appeal ex-parte. The assessee submitted additional evidence during the proceedings before the appellate tribunal, explaining the cash deposits as genuine business activities.…

Legal Issues

• 1. Whether the ex-parte order passed by the CIT(A) was justified?
• 2. Whether the additional evidence submitted by the assessee should be admitted?

Judgment Outcome

Decided in favour of Assessee.

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