Mr. Jainkumar Manikam Menon Vs. International Taxation-3(2)(1)

Parties Involved

Facts Summary

The assessee, Mr. Jainkumar Manikam Menon, did not file the return of income for the Assessment Year 2011-12. The Assessing Officer (AO) completed the assessment under section 143(3) r.w.s. 147 of the Income Tax Act, 1961, by making an addition of Rs. 25,80,000/- under section 69A of the Act, stating that the assessee had sold immovable property and deposited cash above Rs. 10,00,000/- in the Savings Bank A/c but failed to file the return of income. The assessee filed an appeal before the Commissioner of Income Tax (Appeals) / National Faceless Appeal Centre (NFAC), Delhi, which was dismissed for a delay of 66 days in filing the appeal. The assessee then filed an appeal before the Income Tax Appellate Tribunal (ITAT).…

Legal Issues

• 1. Whether the order passed by the Assessing Officer is arbitrary, unjustified and bad-in-law.
• 2. Whether the Commissioner of Income Tax (Appeals) erred by not considering the facts that the Assessing Officer did not provide a copy of reasons for reopening of assessment proceedings.
• 3. Whether the Commissioner of Income Tax (Appeals) erred by considering the disclosed income of Rs. 25,80,000/- as undisclosed income.
• 4. Whether the Commissioner of Income Tax (Appeals) erred by ignoring the fact that the amount of addition is part of the sale consideration of the property.
• 5. Whether the Commissioner of Income Tax (Appeals) erred by ignoring the fact that part of the sale consideration has been deposited by the appellant in his bank account.
• 6. Whether the Commissioner of Income Tax (Appeals) erred by not considering the request and facts for delay in filing of appeal.

Judgment Outcome

Decided in favour of Assessee.

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