M/s. R.M. Bhuther and Co. Vs. National Faceless Appeal Centre
Case No: ITA No.7294/Mum/2025
Court: INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI
Date: 1/23/2026
Parties Involved
appellantM/s. R.M. Bhuther and Co.
respondentNational Faceless Appeal Centre
Facts Summary
The assessee, M/s. R.M. Bhuther and Co., a partnership firm, filed its original return of income for the Assessment Year 2017-18 declaring total income at Rs.Nil. The return was processed under section 143(1) of the Income Tax Act, 1961. The case was selected for scrutiny, and notices under sections 143(2) and 142(1) were issued. The Assessing Officer observed that the assessee received unsecured loans amounting to Rs.126,67,39,656/- during the year. The AO sought details of ITR, bank statements…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Ld. CIT has erred in confirming the Assessment Order passed by the Ld. AO under section 143(3) of the Income Tax Act which is against the principle of natural justice.
- 2. Whether the Ld. CIT has erred in confirming the addition of Rs.85,00,000/- as unexplained cash under section 68 read with section 115BBE despite relevant documents being submitted.
4 more legal issues analysed in this judgement.