Yogesh Narayanrao Deshmukh vs. ITO-3(1)

Parties Involved

Facts Summary

The assessee, Yogesh Narayanrao Deshmukh, is an individual engaged in the business of trading in land. For the Assessment Year 2013-14, the assessee filed a return of income declaring a total income of Rs. 1,45,98,020/-. The case was selected for scrutiny, and the statutory notices were served on the assessee. The assessee sold land for Rs. 11,59,43,276/- and claimed various expenses amounting to Rs. 9,79,68,939/-. The Assessing Officer disallowed certain expenses, which the assessee appealed against. The Commissioner of Income Tax (Appeals) confirmed the disallowances without considering the assessee's submissions and additional evidences.…

Legal Issues

• 1. The CIT(A) did not consider the submission filed by the appellant.
• 2. The CIT(A) did not adjudicate on the ground of virtual uncertainty as to realization of revenue.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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