2025 (11) TMI 1840

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....dated 21.10.2024 erred in not quashing the impugned assessment order passed u/s 143(3)/144 dated 22.12.2017 which is ex facie passed without any application of mind, in most arbitrary manner as evident from fact that sec 143(3) and sec 144 are used interchangeably. (B) That. Ld CIT-A vide impugned order passed u/s 250 dated 21.10.2024 erred in not quashing the impugned assessment order passed u/s 143(3)/144 dated 22.12.2017 as said assessment order patently displays total lack of any relevant material in support of impugned ADHOC/estimated addition of Rs. 50,00,000. (C) That Ld CIT-A vide impugned order passed u/s 250 dated 21.10.2024 erred in not quashing the impugned assessment order passed u/s 143(3)/144 dated 22.12.201....

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....y, some more information was called for and none appeared on behalf of the assessee and no compliance was made from the assessee even though final notice was issued u/s 144 of the Act. 3. Further ld. AR brought to our notice that assessee is a practicing Chartered Accountant and his income from profession has been declared at Rs. 7,99,298/- out of total receipt in cash of Rs. 9,39,298/- claiming expenses of Rs. 1,40,000/- incurred in cash. Further he brought to our notice that Assessing Officer has observed that there is information on record that assessee is dealing in share transactions which are bogus in nature and the main persons helping him in carrying out the bogus transactions were Mukesh Kumar and Deepak Aggarwal. Assessee had o....