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Premature Order: ITAT Restores ₹4.78 Cr Addition Case, Imposes ₹10,000 Cost on Assessee
Case Law Details
- Case Name
- Kansara Popatlal Tibhovandas Metal Pvt Ltd Vs DCIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Ahmedabad
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Kansara Popatlal Tibhovandas Metal Pvt Ltd Vs DCIT (ITAT Ahmedabad)
ITAT Ahmedabad Restores ₹4.78 Cr Addition Case – Assessee to Pay ₹10,000 Cost- Premature Order Violates Natural Justice – Tribunal Remands Case to CIT(A)
Assessee, a private limited company engaged in manufacturing, filed its return declaring income of ₹35.21 lakh. During scrutiny, AO noticed sundry creditors of ₹10.52 crore. As assessee failed to furnish confirmations, PAN, ITRs & bank details for many creditors, AO treated ₹4.52 crore as unexplained cash credits u/s 68. Further, creditors o...
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