Supreme Laxmi Crafts Private Limited vs ACIT, Central Circle-03, Jaipur

Parties Involved

Facts Summary

A search and seizure action was carried out on 22.10.2019 in the case of the Ravindra Pratap Singh Parihar Group, to which the assessee belongs. During the search, certain assets, books of account and documents were found and seized. As some of the documents pertained to the assessee, a notice under section 153C of the Act for the year under dispute was issued on 10.03.2022. The assessee did not comply with this notice, or with the subsequent notices issued by the Assessing Officer. Accordingly, the Assessing Officer completed the assessment under section 144 of the Act, making an addition of Rs. 3,16,89,450, being the amount received on the sale of immovable property, without allowing the cost of acquisition. The assessee carried the matter in appeal before the learned CIT(A). The appeal was filed with a delay of 4 months and 5 days.…

Legal Issues

• 1. Whether the appeal was time-barred?
• 2. Whether the addition of Rs. 3,16,89,450 under section 45 was justified?
• 3. Whether the order passed under section 153 Cr.w.s. 144 was bad in law?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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