Question 1

What are the key legal issues in Raju Anil Bhosale vs. Asst. Commissioner of Income Tax?

Accepted Answer

1. Whether the order passed by the First Appellate Authority is valid in law? 2. Whether the addition of Rs. 9,00,000/- made by the Assessing Officer is justified?

Question 2

What are the facts of Raju Anil Bhosale vs. Asst. Commissioner of Income Tax?

Accepted Answer

The assessee, Raju Anil Bhosale, is a civil contractor engaged in the construction of roads and bridges. For the Assessment Year 2017-18, the assessee filed his return of income declaring a total income of Rs. 27,89,600/-. The case was selected for scrutiny based on a survey conducted under section 133A of the Income Tax Act, 1961. The Assessing Officer found that the assessee had given an amount of Rs. 9,00,000/- as a security deposit in cash for the purchase of a flat, which was claimed to be taken back by the assessee. Since the assessee failed to provide any substantial proof regarding this cash transaction, the Assessing Officer added Rs. 9,00,000/- to the total income of the assessee under section 69A of the Act as unexplained money. The Assessing Officer also alleged that the assessee made a benami transaction of Rs. 42,00,000/- in the name of three individuals and added this amount to the total income of the assessee. Additionally, the Assessing Officer made an addition of Rs. 40,65,100/- on account of payments made by the assessee to a sub-contractor, alleging them to be bogus sub-contract expenses under section 69C of the Act. The assessee filed an appeal against the order of the Commissioner of Income Tax (Appeals), which was dismissed for non-prosecution. The assessee then appealed to the Income Tax Appellate Tribunal, raising several grounds for appeal.

Raju Anil Bhosale vs. Asst. Commissioner of Income Tax

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