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INCOME TAX APPELLATE TRIBUNAL (BANGALORE BENCH)
Soundararajan K., J
M/s. C R Builders & Developers – Appellant
Versus
CIT(A)-11, Bangalore – Respondent
| Table of Content |
|---|
| 1. facts surrounding the case and assessment. (Para 1 , 2) |
| 2. arguments regarding procedural errors and assumptions in assessment. (Para 3 , 4 , 5) |
| 3. arguments regarding estimation of income and burden of proof. (Para 6 , 7 , 8 , 9) |
| 4. court's direction to remand and reassess based on new evidence. (Para 10) |
| 5. final conclusion and allowance for statistical purposes. (Para 11 , 12) |
ORDER
Per: Soundararajan K., J.M
This appeal filed by the assessee challenges the order CIT(A)-11, Bangalore dated 19.02.2024 in respect of Assessment Year (AY) 2018-19.
2. The brief facts of the case are that the assessee is doing real estate business in the name and style of M/s. C R Builders & Developers and also running restaurants in Bangalore. A search u/s. 132 of the Income Tax Act, 1961 (the Act) was conducted on 16.08.2018 in two residential premises of the assessee and based on that notice u/s. 153A of the Act was issued on 27.03.2019 directing the assessee to file return of income. Thereafter the assessee filed return of income on 07.12.2020 declaring an income of Rs. 30,94,350/- being income from house property, profits and gains of business or profession and from other sources. Th
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