M/s. Unity Industries, Bangalore Vs Income Tax Officer, Ward- 6(2)(3), Bengaluru

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Last updated: 26 November 2020
Quick Summary
M/s. Unity Industries appealed a decision by the CIT(A) that upheld an Income Tax Officer's rectification order. The original assessment was completed, but the AO later issued a notice under Section 154, citing cash payments of £1,25,738 made in contravention of Section 40A(3) of the IT Act. Unity Industries argued these payments were due to commercial expediency as they were a new firm with an inactive bank account, and that judicial precedents supported allowing expenses if genuine. However, the AO rejected these objections and added the sum to the company's total income.

Court :
ITAT Bangalore

Brief :
This appeal at the instance of the assessee is directed against CIT(A)’s order dated 28.06.2019. The relevant assessment year is 2014-2015. The order of the CIT(A) arises out of the order of the Assessing Officer passed u/s 154 of the I.T.Act.

Citation :
ITA No.1862/Bang/2019

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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