Raj Kumar Jain Vs. AO, IT, Circle-2(1), IT, Kolkata

Parties Involved

Facts Summary

The assessee, Raj Kumar Jain, a non-resident Indian, filed a revised return of income for the assessment year 2017-18 declaring a total income of Rs. 2,81,69,650/-. The case was selected for scrutiny, and notices and questionnaires were issued. However, the assessee did not furnish any details in response to these notices. Consequently, the Assessing Officer (AO) assessed the total income of the assessee at Rs. 14,15,69,650/- by adding Rs. 11,34,00,000/- as unexplained investment. Aggrieved by this order, the assessee appealed to the Commissioner of Income Tax (Appeals) (CIT(A)), whose order dismissing the appeal was also unfavorable to the assessee. The assessee then approached the ITAT with additional documents to support his case.…

Legal Issues

• 1. Whether the AO was justified in assessing the income of the assessee due to non-compliance with notices?

Judgment Outcome

Decided in favour of Assessee.

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