Umashankar Shiwaprasad Modi vs. Income Tax Department

Parties Involved

Facts Summary

The assessee, Umashankar Shiwaprasad Modi, filed an appeal against the order passed by the Commissioner of Income-tax (Appeals)-National Faceless Appeal Centre- Delhi for the assessment year 2018-19. The principal grievance of the assessee was against the addition of ₹11,10,93,681/- made under section 68 of the Income-tax Act, 1961, and the disallowance of interest of ₹46,00,926/-. The assessee claimed that he was not given adequate opportunity to substantiate the supporting documentary evidence. The assessment was completed under section 144 of the Act due to non-compliance with statutory notices. The assessee failed to respond to multiple opportunities granted for filing submissions and evidence, leading to the dismissal of the appeal by the first appellate authority. The assessee attributed the delay in filing the appeal to his advanced age, ill health, and lack of access to electronic communication.…

Legal Issues

• 1. Whether the delay in filing the appeal should be condoned.
• 2. Whether the addition of ₹11,10,93,681/- under section 68 and disallowance of interest of ₹46,00,926/- were justified.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

• Abhishek Kumar vs. CIT

  Delhi Bench ‘A’ benchAY 2016-17Allowed

• Tanjore Chandrakantam Balakrishnan Ravi Vs. The Deputy Commissioner of Income Tax, Circle-1, Trichy

• M/s Sarvlok Realtors Pvt. Ltd. vs. ITO, Ward-5(1), Kolkata

  Kolkata Bench benchAY 2022-23Allowed

• Raghav Vanijya Pvt. Ltd. Vs DCIT, Circle-9(1), Kolkata

  Kolkata benchAY 2012-2013Allowed

• Sheela Ladhania Vs ITO Ward-49(2), Kolkata

  Kolkata Bench benchAY 2017-2018Dismissed

• Smt. Sujatha Muniraju Vs. The Income Tax Officer

  Bangalore benchAY 2012-13Allowed