Case Number: ITA No. 792/Del/2020
Assessment Year: 2016-17
Appellant: Deluxe Cold Storage and Food Processors, Delhi
Respondent: ACIT, Circle 7(2), New Delhi
This case involves an appeal by Deluxe Cold Storage and Food Processors against the order of the ld. CIT(A)-3, New Delhi dated 13.12.2019, concerning the assessment year 2016-17. The main contention revolves around the addition of Rs. 45,04,782/- attributed to unexplained cash balance by the Assessing Officer (AO).
The tribunal, after noting the absence of the appellant and reviewing the case, found that the ld. CIT(A) had dismissed the appeal due to non-prosecution and subsequently on merits. The tribunal remanded the case back to the ld. CIT(A) to be decided afresh on merits, ensuring proper opportunity is given for hearing.
The case highlights crucial aspects regarding the handling of unexplained cash balances under section 68 of the Income Tax Act. The tribunal’s decision to remand the case back for a comprehensive review on merits underscores the necessity for thorough judicial examination and adherence to principles of natural justice.
Presiding Members:
Significant Dates:
Through this review, a comprehensive understanding of procedural justice and the implications of non-compliance in tax matters is presented.
Case Review: Deluxe Cold Storage and Food Processors vs ACIT, Circle 7(2), ITA No. 792/Del/2020
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