Income Tax Act, 1961 – Sections 68, 115BBE, 133(6), 142(1), 143(2), 143(3) – Assessment Year 2017-2018 – Writ Petition challenging assessment order under Section 143(3) – Violation of principles of natural justice – Addition of unexplained cash credit.
The petitioner, a Non-Banking Financial Company (NBFC), challenged an assessment order under Section 143(3) of the Income Tax Act, 1961, arguing a violation of natural justice and an incorrect application of Section 115BBE.
The Assessing Officer added Rs. 99,50,749 as unexplained cash credit under Section 68, noting discrepancies in cash deposits made during demonetization.