Ryatar Sahakari Sakkare Karkhane Niyamit vs. The Income Tax Officer

Parties Involved

Facts Summary

The assessee, Ryatar Sahakari Sakkare Karkhane Niyamit, filed an appeal against the order of the Commissioner of Income Tax (Appeals) for the assessment year 2016-17. The assessee challenged the order on various grounds, including the unilateral conclusion of the assessment, unjustified addition of undisclosed income under section 68, and the demand for a high tax amount. The assessee argued that the Assessing Officer did not appreciate the written submissions and explanations provided during the proceedings. The assessee also claimed that the addition under section 68 was unjustified as there was no unexplained money involved and no evidence was provided to show that the amounts received were returned. The assessee denied any income-tax assessment for the assessment year and sought relief from the appellate authority.…

Legal Issues

• 1. Whether the Assessing Officer is justified in concluding the assessment unilaterally and without appreciating the submissions and explanations given by the assessee.
• 2. Whether there is justification to make addition of Rs. 54,52,400 under section 68 to the returned income.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

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