TaxTMI 
TaxTMI 
2025 (4) TMI 2026
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....ssment Year [A.Y.] 2017-18. 2. The assessee has raised the following grounds of appeal: "1. Order passed on a non-existing entity: a. The Id. A.O. has erred in law and on facts in passing an assessment order u/s 144 on PAN AAAFJ0635N which belongs to a non-existent entity in spite of the fact that the Id. A.O. was intimated about the same. b. The address of the old PAN was of Mumbai and the new PAN was of Mehsana. The fact that the jurisdiction was changed from Mumbai to Mehsana shows that the Id. A.O. has acknowledged that the firm was not in existence in AY 2017-18. c. Your appellant prays that the order passed on a non-existing entity be quashed. 2. Setting Aside Appeal: a. The hon....
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....The address of the old PAN was of Mumbai and the new PAN was of Mehsana. The fact that the jurisdiction was changed from Mumbai to Mehsana shows that the Id. A.O. has acknowledged that the firm was not in existence in AY 2017-18. In spite of this fact notices were issued and uploaded on the income tax portal of the non-existing entity only. h) The hon. CIT(A) has erred in law and on facts by setting aside the matter giving the opportunity to the Id. A.O. to rectify the mistakes made by him during assessment. i) Your appellant prays that the assessment order u/s 144 be quashed. 4. Addition u/s 69A of Rs. 72,53,000: a) The Id. A.O. erred in law and on facts in treating the amount of Rs. 72,53,000 as unexpla....
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....g before passing the order in violation of the principles of natural justice. f) Your appellant prays that the assessment order passed in gross violation of the provisions of natural justice be quashed. 6. Prayer for leave: Your appellant prays for the leave to add, amend, alter, delete or modify any of the above grounds." 3. Brief facts of the case are that the assessee had not filed any return of income for AY 2017-18. However, on the basis of information regarding cash deposit of Rs. 72,53,000/- in its bank account during to demonetization period, a notice u/s. 142 was issued on 04/12/2017. The assessee filed a reply dated 23/01/2018 stating that the firm M/s. Jayambe Petroleum Services (PAN: AAAFJ0635N) sto....
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.... the Assessing Officer properly and order was passed u/s 144 of the Act. Section 142(2) requires that due enquiries should be conducted to arrive at true and correct income of the taxpayer for the given year. Section 143(3) specifies that assessee should present evidence in support of the computation of taxable income in their return of income, and, may also submit any further evidence as required by the Assessing Officer. Due to the peculiar circumstances in this case, the appellant was not able to present his contentions before the Assessing Officer. Appellant, however, has now produced submissions on 23.01.2024, 22.07.2024 and on 10.12.2024 for consideration of the revenue. Hence, in the interest of substantial justice and to ensure fair....
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....accounts (including the impugned account with HDFC Bank) therein. These facts were submitted before the Ld. CIT(A) who has not decided the legal issues raised by the assessee. Ld. DR on the other hand vehemently supported the order of Ld. CIT(A). It has been pointed out by him that the assessee had neither informed the department nor the bank authorities about the dissolution of the old partnership firm. The PAN of the old firm was also not changed in the bank account. Hence, the department has rightly initiated the proceedings in the hands of the firm having PAN which was linked to the bank account in question. Accordingly, the Ld. CIT(A) decision to restore the matter to the Assessing Officer was justified and deserved to be upheld. ....