2024 (11) TMI 1660

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....ter referred to Ld. 'Pr. CIT'] dated 26.03.2024. 1.1. The brief facts of the case of the appellant are that the original return of income had been filed by the assessee for AY 2018-19 declaring total income of Rs. 56,98,030/-. Search and seizure operation was carried out at the residential and office premises of Health Care Group as Lakhotia Diagnostic Service Pvt. Ltd. belongs to this group and after issuance of show cause notice and hearing the ld. AR unsecured loan of Rs. 7.50 Lakh is added u/s 68 of the Act by disallowing Rs. 4,53,131/-. Penalty notice u/s 271AAC of the Act has been initiated separately. The said order has been taken into consideration u/s 263 of the Act and it is observed that contribution received from the ....

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.... Vijay Shree Ltd. reported in [2014] 43 taxmann.com 396 (Calcutta) passed by the jurisdictional High Court was prevalent and was in force. The ld. Counsel for the assessee submits that on the date of passing the assessment order there was no error at all and it has also been discussed in Checkmate Services P. Ltd. (supra) by quoting from own case law in the case of Ajmera Housing Corpn. Vs. CIT reported in [2010] 193 taxmann.com 178. 1.3. On the contrary, the ld. D/R supports the impugned order. 2. We have gone through the record and the decision of the Hon'ble High Court of Calcutta. It admits of no doubt that assessment order was passed on 30.03.2022. There was a decision of the Hon'ble High Court in the case of Vijay Shree ....