M/s Kishan Kumar Kandoi HUF vs. Income Tax Officer

Parties Involved

Facts Summary

The present appeal filed by the assessee, M/s Kishan Kumar Kandoi HUF, arises from an order dated 15.12.2023 passed under section 250 of the Income Tax Act, 1961 by the Ld. Commissioner of Income Tax (Appeals)- National Faceless Appeal Centre (NFAC), Delhi. The appeal was filed 431 days after the limitation period, but the Tribunal condoned the delay after finding it to be bonafide and genuine. The counsel for the assessee highlighted that the Assessing Officer (AO) had relied on the statement of the Directors of the allottee companies without confronting the assessee, which was a procedural lapse.…

Legal Issues

• 1. Whether the delay in filing the appeal is condoned.
• 2. Whether the AO correctly relied on the statement of the Directors of the allottee companies without confronting the assessee.

Judgment Outcome

Decided in favour of Assessee.

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