Case Law Details
Golden Traders Vs ITO (ITAT Delhi)
Introduction: In the case of Golden Traders vs. ITO, ITAT Delhi grappled with an income tax addition under Section 69B of the Income Tax Act. The addition was made due to the failure of the assessee to compile data and information during the COVID-19 pandemic, which disrupted normal business operations. This article provides a detailed analysis of the case and its implications.
Detailed Analysis:
1. Background: The appeal was filed by Golden Traders against the order of the Commissioner of Income Tax (Appeals) concerning the assessment year 2018-19. The key issue in contention was an income tax addition made under Section 69B.
2. The Grounds of Appeal: The assessee raised multiple grounds of appeal, challenging the assessment order on various counts. These grounds included assertions that the assessment was based on conjectures and surmises, that the additions made were incorrect, and that the assessment proceedings were carried out arbitrarily. The grounds also highlighted issues related to the impact of COVID-19 on the ability to compile necessary data and the violation of the principles of natural justice.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
