M/s N.S. Trucks Co. v. Pr. Commissioner of Income Tax

Parties Involved

Facts Summary

The appellant, M/s N.S. Trucks Co., filed an appeal against the order of the Principal Commissioner of Income Tax dated 31.03.2024 concerning the Assessment Year 2017-18. The appellant raised several grounds of appeal, primarily challenging the initiation of proceedings under section 263 of the Income Tax Act based on an audit objection. The appellant argued that the order passed on a Sunday was invalid, the assessment was illegal, and the addition made under section 69A was erroneous. The respondent, Principal Commissioner of Income Tax, defended the order, stating that the Assessing Officer failed to verify the cash book thoroughly and that the appellant did not provide sufficient evidence to support their claims.…

Legal Issues

• 1. Whether the order passed under section 263 of the Income Tax Act is valid and legal?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

• ITA No.2867/Del/2025 Fresenius Kabi Oncology Limited (AY: 2011-12)

  B Bench, Delhi benchAY 2011-12Allowed

• Man Mohan Goenka Vs ITO Ward-43(1), Kolkata

  Kolkata benchAY 2017-2018Allowed

• JWC LOGISTICS PARK PRIVATE LIMITED Vs. ACIT CC 5(3)

  Mumbai bench

• SVR Creations Pvt. Ltd. vs. The PCIT

  Delhi Bench benchAY 2016-17Allowed

• Rajendra Shankarrao Jadhao v/s Dy. Commissioner of Income Tax

  Nagpur bench

• Shriram Finance Limited Vs. The Principal Commissioner of Income Tax – 3, Chennai