Shiv Edibles Limited Vs ACIT (ITAT Jaipur)
In a significant development, Shiv Edibles Limited has secured a favorable outcome in its appeals against orders dated 16.05.2023 by the ld. CIT (A), National Faceless Appeal Centre (NFAC), Delhi, for the assessment years 2011-12 and 2016-17. Both appeals, sharing identical grounds, are being addressed collectively in this comprehensive order by the Income Tax Appellate Tribunal (ITAT) Jaipur.
Key Grounds Raised by the Assessee
Assessment Year 2011-12 (ITA No. 445/JP/2023):
i. Validity of Section 147 Action:
- Challenge against the action under section 147 as allegedly void and without jurisdiction.
- Demand to quash the assessment framed under section 147 r.w.s. 143 dated 16.05.2023.
ii. Notice Issued under Section 148: Contention that the notice issued under section 148 dated 30.03.2018 is time-barred, exceeding the four-year limitation from AY 2011-12.
iii. Ex-Parte Order by CIT (A):
- Allegation of the CIT (A) passing an ex-parte order without affording adequate and reasonable opportunity of being heard.
- Plea to quash the order or alternatively restore it for fresh adjudication.
iv. Addition under Section 68: Dispute regarding the addition of Rs. 21,25,945/- under section 68 on account of an alleged unexplained amount received from M/s. Shree Ram Trading Company (Shri Vipin Garg).
