Shri Ashok Kumar Jain Vs. ACIT, Circle-1(1), Raipur

Parties Involved

Facts Summary

Shri Ashok Kumar Jain, an authorized dealer of Indian Oil Corporation Limited, filed his return of income for the assessment year 2017-18, declaring an income of Rs.42,83,140/-. The case was selected for scrutiny assessment under section 143(2) of the Income-tax Act, 1961. The Assessing Officer completed the assessment under section 143(3) of the Act, determining the income at Rs.3,58,28,826/- after making several additions and disallowances. The assessee appealed against the order passed by the Commissioner of Income-Tax (Appeals), National Faceless Appeal Center (NFAC), Delhi, dated 25.06.2024, which confirmed the order of the Assessing Officer. The Tribunal found that the Commissioner of Income-Tax (Appeals) had dismissed the appeal by a non-speaking order without giving justifiable reasons, and thus set aside the order with a direction to re-adjudicate the matter afresh.…

Legal Issues

• 1. The order passed by the Commissioner of Income-Tax (Appeals) is wholly arbitrary, irrational and unjustified.
• 2. The Assessing Officer erred in making additions on account of difference in purchases of petrol and diesel, cash deposited during demonetization, and estimating income at 5% of gross receipts.

Judgment Outcome

Decided in favour of Assessee.

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