Case Law Details
DCIT Vs Rakesh Kumar Agrawal (ITAT Indore)
The appellant also agitated the making of the addition on the legal ground that since as per the AO’s own version, during the course of the assessment proceedings, the appellant had not produced any books of account and therefore, the question of finding any credit entry as regard to the sundry creditors and consequently, the question of invoking the provisions of section 68 does not arise. According to the appellant, finding of some entries in the books of account are sine-qua-non for invoking the provisions of section 68 of the Act.
FULL TEXT OF THE ORDER OF ITAT INDORE
The above captioned cross appeals are directed against three separate Orders of the Ld. Commissioner of Income Tax (Appeals)-III, Indore (in short ‘CIT(A)’), all dated 10.09.2020, which are arising out of the separate Orders u/s. 144 of the Income-Tax Act, 1961 (in short, ‘the Act’) viz. for A.Y. 2011-12 dated 18.03.2016 by ACIT (Central) -2, Indore, for A.Y. 2012-13 dated 18.03.2015 by DCIT (Central) -1, Indore and for A.Y. 2013-14 dated 18.03.2016 by ACIT (Central) -2, Indore.
2. The delay in filing the appeals is condoned in view of Covid-19 restrictions. As submitted by the Ld. Counsel for the assessee and as also concurred with by the Ld. Departmental Representative that the issues raised in all these appeals are common and inter-linked and as also, are arising out of the similar facts, for the sake of convenience and brevity, all these appeals were heard together on the request of both the parties and are being disposed off by this common order.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
