M/s Blackstone Infracon Pvt. Ltd. vs. ITO

Parties Involved

Facts Summary

The assessee, M/s Blackstone Infracon Pvt. Ltd., filed its return of income on 24-03-2014 declaring a loss of Rs 79,129/-. The case was selected for scrutiny and a notice under section 143(2) of the Income Tax Act was issued. The Assessing Officer completed the assessment under section 143(3) of the Act on 31-03-2013, determining the total income of the assessee at Rs 1,03,00,000/-. Despite four opportunities granted, the assessee did not appear before the Commissioner of Income Tax (Appeals) [CIT(A)], leading to an ex-parte dismissal of the appeal for want of prosecution.…

Legal Issues

• 1. Whether the order passed by the CIT(A) is bad in law for ignoring vital facts and denying natural justice to the assessee.
• 2. Whether the CIT(A) erred in confirming the additions made in the assessment order on account of unexplained cash credits under section 68 of the Income Tax Act, 1961.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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