Sh. Virendra Kumar Jain vs. Income-tax Officer, Ward 2(3)(4), Lalitpur
Parties Involved
Facts Summary
The appellant-assessee, Sh. Virendra Kumar Jain, engaged in wholesale trading of food grains, pulses, and oilseeds under the name M/s. Shri Vidhya Sagar Traders, Lalitpur, filed a return of income for the assessment year 2018-19, declaring income of Rs.13,28,530/-. Based on information regarding substantial cash deposits, withdrawals, and TDS/TCS data, the Assessing Officer initiated reassessment proceedings under section 147 and issued a notice under section 148. The assessee submitted explanations and documents, but discrepancies were found in the invoice dates, lorry numbers, and ledger entries. The Assessing Officer concluded that the sales shown to M/s. Mahaveer Prasad Suresh Kumar, New Delhi, were bogus and made an addition of Rs.1,18,52,322/- under section 69A read with section 115BBE of the Act.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Ld. CIT(Appeals) erred in passing the impugned order ex parte without serving the notice of hearing upon the assessee and in violation of principles of natural justice?
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
1 precedent cited in this judgement.
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