Case Law Details
Etisha Finance Investment P. Ltd. Vs ACIT (ITAT Delhi)Brief Facts of the case:
The brief facts of the case are the E-Return declaring NIL income was filed by the assessee on 30th September, 2009. Thesame was processed under section 143(2) of the Act. Notice under section 143(2) of the Income Tax Act, 1961 was issued on 27.9.2010 and served upon the assessee.
After going through the documents, AO has completed the assessment u/s. 143(3) of the I.T.Act, making the additions of Rs. 60,00,000/- on account of unexplained credits u/s 68 of the I.T. Act, 1961.AO completed the assessment u/s. 143(3) of the I.T.Act, made additions Rs. 60,00,000/- on account of unexplained creditsu/s 68 of the I.T. Act,1961.
Aggrieved by the aforesaid order, assessee appealed before the Ld. CIT (A), who dismissed the appeal of theassessee by upholding the action of the AO. The CIT(A) dismissed the assessee’s appeal without going into the ,merit of the case as the assesseee sought adjournment for four times because of the ill health of learned counsel and no body appeared on the final day fixed for hearing.
Aggrieved by the order of CIT(A), assessee preferred an appeal before ITAT. Please become a Premium member. If you are already a Premium member, login here to access the full content.