Assessment on Dissolved Firm Valid if AO Uninformed: ITAT Ahmedabad

Krishna Enterprise Vs ITO (ITAT Ahmedabad) The case of Krishna Enterprise Vs ITO before the Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, centered on the validity of an income tax assessment framed on a dissolved partnership firm for the Assessment Year (AY) 2017-18. The Tribunal addressed a significant delay in filing the appeal and the substantive issues related to the assessment on a non-existent entity and unexplained cash credits. Condonation of Delay The assessee, Shri Krishna Enterprise, filed the appeal with a delay of 344 days. The former partner, Shri Yogesh H. Aalwani, subm...