SPS Automobiles, Bikapur, Hanumanganj, Prayagraj. Vs. Income Tax Officer, Ward-1 (5), Prayagraj.
Parties Involved
Facts Summary
SPS Automobiles, a partnership firm engaged in the business of automobile dealership, filed an appeal against the order of the Commissioner of Income Tax (Appeals) passed under section 250 of the Income Tax Act, 1961. The appeal was dismissed by the first appellate authority on the ground that the appeal in Form 35 was filed belatedly. The assessee argued that the delay was due to the negligence of their appointed lawyer, Mr. Dinesh Mishra. The second issue was regarding the addition of Rs. 54,17,992/- to the returned income by the CPC, Bangalore, based on incorrect reporting in the tax audit report (TAR) by the tax auditor. The assessee claimed that the figures were already reflected in the audited profit and loss account and were considered for taxable profits.…
Decision in favour of
Assessee
Legal Issues
- 1. Delay in filing Form 35
- 2. Addition of Rs. 54,17,992/- to the returned income
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
1 precedent cited in this judgement.