M/s. Bioviz Technologies Private Limited vs. Dy. CIT

Parties Involved

Facts Summary

The assessee, M/s. Bioviz Technologies Private Limited, had filed an appeal against the assessment order passed by the Assessing Officer under section 147 read with sections 144 and 144B of the Income-tax Act, 1961 for the assessment year 2019-20. The assessee could not respond to the notices issued by the Learned Commissioner of Income Tax (Appeals)-NFAC, leading to the dismissal of its appeal. The assessee is now in appeal before the Income Tax Appellate Tribunal, Hyderabad, citing financial distress and administrative difficulties as reasons for its failure to prosecute the case effectively. The assessee has requested another opportunity to present its case on merits.…

Legal Issues

• 1. The assessee challenges the addition under section 69C of the Income Tax Act for foreign remittances.
• 2. The assessee challenges the addition of Rs.1,38,28,670/- for the import purchase without making minimum enquiry as required by law.

Judgment Outcome

Decided in favour of Assessee.

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