M/s. Starburst Motors Pvt. Ltd. Vs. D.C.I.T., Circle-14(2), Kolkata
Case No: 1519/KOL/2024
Court: Income Tax Appellate Tribunal, Kolkata ‘C’ Bench
Date: 1/29/2026
Parties Involved
AppellantM/s. Starburst Motors Pvt. Ltd.
RespondentD.C.I.T., Circle-14(2), Kolkata
Facts Summary
The assessee, M/s. Starburst Motors Pvt. Ltd., filed its return of income showing a total income of ₹46,83,010/-. The company is a dealer of Maruti Suzuki and earns revenue from operations and sale of motor cars, lubricants, and service charges. During the demonetisation period up to 30.12.2016, a sum of ₹1,05,52,000/- was deposited in the bank account. The Assessing Officer added this sum to the total income under section 68 of the Income Tax Act, 1961, as the explanation provided by the assess…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Ld. CIT(A) was wrong in confirming the addition made by the Ld. AO without providing adequate opportunity of being heard.
- 2. Whether section 68 of the Income Tax Act, 1961, is applicable in the present case.
2 more legal issues analysed in this judgement.