Mr. Rishi Kumar Rajani Vs. Assistant Commissioner of Income Tax

Parties Involved

Facts Summary

The appeal was filed by the Assessee against the order dated 30.05.2024, passed by the National Faceless Appeal Center (NFAC)/ Ld. Commissioner of Income Tax (Appeals) under section 250 of the Income Tax Act, 1961 for the A.Y. 2017-18. The Assessee had filed an adjournment application, but the appeal was decided ex-parte by the Ld. Commissioner due to the Assessee's failure to submit relevant details/documents. The Assessing Officer (AO) disallowed certain expenses and treated an amount as unexplained investment, which was added to the Assessee's total income. The Assessee challenged these additions before the Ld. Commissioner, but the appeal was dismissed due to the Assessee's failure to provide necessary details/documents.…

Legal Issues

• 1. Disallowance of expenses and addition of unexplained investment

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

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