Rosemerry Vinimay Pvt. Ltd. vs ITO

Parties Involved

Facts Summary

Rosemerry Vinimay Pvt. Ltd. is an assessee that filed an appeal against the order passed by the National Faceless Appeal Centre, Delhi, dated 7th November, 2023. The assessee alleged to be a beneficiary of accommodation entry amounting to ₹6,49,39,000/-. The assessee failed to appear on the dates of hearing fixed by the ld. CIT (A) and did not furnish any document/information to the ld. AO. The ld. AO thus framed best judgement assessment u/s 144 of the Act making the addition for unexplained cash credit u/s 68 of the Act and income assessed at ₹6,49,39,000/-. The ld. CIT (A) confirmed the impugned addition observing that the assessee has not explained the source of cash credit of ₹6,49,39,000/-. The assessee prayed for restoring the matter to the file of the ld. CIT (A) for necessary adjudication.…

Legal Issues

• 1. Whether the assessee should be granted an opportunity to appear before the ld. CIT (A)?

Judgment Outcome

Decided in favour of Assessee.

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