Nitesh Kumar Goyal Vs DCIT (ITAT Raipur)
ITAT Raipur held that law will help only those who are vigilant and will not assist the one who are careless. Accordingly, request of assessee to restore matter back not granted as assessee has chosen not to represent its matter for more than 08 years.
Facts- Assessee is an individual, engaged in the trading of computer and computer accessories and has various business premises at Raipur, Bhilai and Ambikapur. The original assessment in the case of assessee was completed u/s 143(3) of the Act on 28.03.2016, assessing the total income at Rs. 1,50,84,533/- by estimation of net profit @ 8% of sales and thereby making addition of Rs. 1,33,97,283/-. Additions made by the AO at Rs. 1,33,97,283/-was confirmed by CIT(A) -II, Raipur.
ITAT allowed the appeal with various directions. In view of directions of the tribunal, the assessee was provided with another opportunity to get his case assessed afresh. However, no replies were being submitted by the assessee. Left with no option, AO completed the set aside reassessment proceedings taking recourse of best judgment assessment available with him. The assessment thereafter was culminated determining the total assessed income at Rs.1,50,84,533/-. CIT(A) dismissed the appeal of the assessee. Being aggrieved, the present appeal is filed.
