Sunil Soni Vs DCIT-1(1), Raipur

Parties Involved

Facts Summary

The case involves an appeal by Sunil Soni against the order of the Commissioner of Income Tax (Appeals) and the Deputy Commissioner of Income Tax, Raipur. The assessee, Sunil Soni, a proprietor of M/s Banshi Lal Soni & sons, filed his return of income on 31.12.2014, declaring taxable income of Rs. 1,88,17,140/-. A search and seizure action was performed on the premises of the assessee on 30.10.2013, wherein certain documents and cash were seized. The assessee filed an appeal against the order passed by the Deputy Commissioner of Income Tax, which was dismissed by the Commissioner of Income Tax (Appeals). The assessee further appealed to the Income Tax Appellate Tribunal, Raipur.…

Legal Issues

• 1. Confirmation of addition of Rs. 3,30,18,730/- made by AO on account of alleged unexplained investment invoking sec. 69B.
• 2. Confirmation of addition of Rs. 69,98,300/- made by AO on account of cash found/surrendered during search.
• 3. Confirmation of addition of Rs. 15,70,000/- made by AO on account of alleged excess stock found during search invoking sec. 69B.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

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