Shree Dhama Infrastructure Private Limited vs. ACIT, Circle-2(1)(1), Ghaziabad

Parties Involved

Facts Summary

The assessee, Shree Dhama Infrastructure Private Limited, did not file its return of income for the assessment year 2015-16 despite its total income exceeding the maximum amount not chargeable to income tax. The company had significant financial transactions amounting to Rs. 4,30,46,638/- as a payment to a contractor under section 194C during the Financial Year 2014-15. The case was reopened, and a notice under section 148 of the Act was issued on 21.03.2021. The assessee filed its return of income in response to this notice on 11.11.2021. Further notices under sections 143(2), 142(1) of the Act were issued, to which the assessee responded. However, the Assessing Officer found the replies not tenable and estimated the income at 25% of the total contract receipts, amounting to Rs. 1,07,61,600/-. The difference between the estimated income and the income offered for taxation was added back to the total income, resulting in an addition of Rs. 96,84,228/-.…

Legal Issues

• 1. Whether the order of the Ld. CIT(A) is bad in law and against the facts and circumstances of the case?
• 2. Whether the Ld. CIT(A) erred in dismissing the appeal summarily without providing proper opportunity of being heard?

Judgment Outcome

Decided in favour of Assessee.

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