Manbhawan Exim Pvt. Ltd Vs ITO (ITAT Surat)
The Income Tax Appellate Tribunal (ITAT), Surat, considered three appeals filed by the assessee against separate appellate orders passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, for Assessment Years (AYs) 2013-14, 2014-15, and 2017-18. These appeals arose from reassessment orders passed under Sections 147 read with 144B of the Income Tax Act, 1961. As the issues involved in all three appeals were similar, they were heard together, with AY 2013-14 treated as the lead case.
The assessee raised multiple grounds challenging the orders of the CIT(A). The assessee contended that the CIT(A) passed an ex-parte order without granting a fair opportunity of hearing. It also challenged the legality of the reassessment proceedings initiated under Section 147, claiming that the proceedings for AY 2013-14 were time-barred under Section 149. The assessee further argued that the assessment order had been passed under incorrect provisions by referring to Section 144 along with Section 144B. Additional grounds challenged the additions made under Sections 69C and 68 of the Act, including additions relating to alleged suspicious purchases and unexplained cash credits. The assessee submitted that amounts received were linked to genuine sales transactions already accounted for in the profit and loss account and that further additions would amount to double taxation. The assessee also challenged initiation of penalty proceedings under Section 271(1)(c) and levy of interest under Sections 234B and 234C.
