Radha Mohan Education Charitable Trust Vs ITO (ITAT Ahmedabad)
The Income Tax Appellate Tribunal (ITAT) Ahmedabad recently set aside an order passed under Section 144 of the Income Tax Act in the case of Radha Mohan Education Charitable Trust vs. ITO. The appeal was filed by the assessee challenging an assessment order that resulted from notices sent to an incorrect address.
The appeal concerns the assessment year 2017-18, where the assessee trust, Radha Mohan Education Charitable Trust, contested the addition of Rs. 1,34,87,426 made by the Assessing Officer (AO) under Section 69A of the Income Tax Act. The AO had made this addition on the grounds of unexplained cash deposits during the demonetization period and cheque deposits, which the assessee claimed were genuine borrowings.
Background of the Case
The issue began with the issuance of a notice under Section 142(1) of the Income Tax Act, calling upon the trust to submit a true and correct return of income for the assessment year 2017-18. The notice was sent on March 8, 2018, with a deadline to submit the return by April 7, 2018. However, the trust failed to file the return within the stipulated time or in response to the notice.
