TaxTMI 
TaxTMI 
2025 (3) TMI 1970
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....1 Whether on the facts and in the circumstances of the case and in law the Ld. CIT(A)(NFAC) is Justified in deleting the addition of Rs. 4,34,644/- made u/s. 69 on account of unexplained investment in the order passed by the AO u/s. 147 r.w.s 144B of the I.T. Act, 1961. Rs. 1,30,393/- 2 Whether on the facts and in the circumstances of the case and in law the Ld. CIT(A)/NFAC) is justified in ignoring the facts that credible information regarding Tax Evasion Petition in case of defaulters, Brokers and Traders who traded on NSEL Exchange Platform has been forwarded by NSEL and as per list of traders, the assessee is one of the traders who has made transactions in NSEL platform during FY 2013-14. 0 3 Whether on facts and in....
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....led report on NSEL scam and given findings and recommendations to the CBDT to investigate the cases of the traders who has made transactions on the NSEL platform. As per this information MRs. Sunita Dada is one of the traders who has made transactions in NSEL platform during the year under consideration. 3. In view of this, a notice u/s. 148 and 142(1) of the Act was issued to the assessee. In response to this the assessee filed a return of income at Rs. 4,12,320/-. Ultimately, the case of the assessee was assessed after making addition of Rs. 4,34,644/- u/s. 69 of the Act. The assessee being aggrieved with this order of the AO preferred an appeal to the Ld. CIT(A), who in turn set aside the order of the AO and appeal of the assessee was....
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....invalid, or b. Where any order, notification, instruction or circular of the Board or the Government has been held to be illegal or ultra vires the Act or otherwise constitutionally invalid, or c. Where the assessment is based on information in respect of any offence alleged to have been committed under any other law received from any of the law enforcement or intelligence agencies such as CBI, ED, DRI, SFIO, NIA, NCB, DGGI, state law enforcement agencies such as State Police, State Vigilance Bureau, State Anti-Corruption Bureau, State Excise Department, State Sales/Commercial Taxes or GST Department, or d. Where the case is one in which prosecution has been filed by the Department in the rele....
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....the liability to deduct TDS/TCS thereon or otherwise is under question, or ii. Appeals of International taxation charges where the dispute relates to the applicability of the provisions of a Double Taxation Avoidance Agreement or otherwise m. Any other case or class of cases where in the opinion of the Board it is necessary to contest in the interest of justice or revenue and specified so by a circular issued by Board in this regard. 5. In view of the clause C above, it is found that the appeal of the revenue is admissible and the same is to be adjudicated on its facts and merits involved. It is observed that the findings of the AO that the assessee was a trader are factually incorrect. As she was a small-....