SHIV COTEX INDIA PRIVATE LIMITED vs. DCIT CC

Parties Involved

Facts Summary

The case involves an appeal filed by the assessee, SHIV COTEX INDIA PRIVATE LIMITED, against an order passed by the Commissioner of Income Tax (Appeals) in relation to an assessment order for the Assessment Year 2016-17. A search and seizure action under section 132 of the Income Tax Act, 1961 was carried out on the assessee's premises. The assessee, a partnership firm engaged in manufacturing textile fibers and trading cotton waste/rags, filed an original return of income declaring a loss. The Assessing Officer issued a notice under section 153A of the Act, and the assessee responded by filing a return of income. The Assessing Officer found unexplained expenditure and made an addition of INR 1,83,826/-, which was confirmed by the Commissioner of Income Tax (Appeals). The assessee appealed against this order.…

Legal Issues

• 1. Confirmation of addition of INR 1,83,826/- made by the Assessing Officer and confirmed by the Commissioner of Income Tax (Appeals).

Judgment Outcome

Decided in favour of Assessee.

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