Shri. Kishore Tarachand vs. ITO

Parties Involved

Facts Summary

The assessee, an NRI residing in the USA, did not file an income return for the Assessment Year 2013-14 as the income was below the taxable limit. The Assessing Officer issued notices under sections 148 and 142(1) of the Income Tax Act, 1961, which were not acknowledged by the assessee due to his residence abroad. Consequently, an assessment was completed under section 144 r.w.s. 147 of the Act, resulting in additions under section 69A for unexplained cash deposits, mutual fund investments, and credit card payments. The assessee appealed against the order passed by the Commissioner of Income-tax (Appeals), National Faceless Appeal Centre, which upheld the additions. The assessee further appealed to the Income Tax Appellate Tribunal, submitting additional evidence and requesting more time to provide further evidence. The Tribunal admitted the additional evidence and restored the matter to the Assessing Officer for examination.…

Legal Issues

• 1. Whether the order of the Commissioner of Income-tax (Appeals) is opposed to the law, weight of evidence, facts and circumstance of the Appellant’s case.
• 2. Whether the order is passed against the principle of natural justice and thus, is liable to be quashed.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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