The\u00a0 asseessee is an IATA agent\u00a0 engaged in booking tickets\u00a0 for its clients\u00a0 received advances from clients for being paid to various\u00a0 airlines. The\u00a0 Assessing Officer added\u00a0 made addition u\/s 69A of the Act treating the advances as unexplained investment for failure to respond any of the notices. On writ the assessee contended that two officers handling accounts and tax related issue had left assessee and thus the assessee could not reply to notices. It was also contended that\u00a0 the assessee will have to wound up if order remained. High Court quashed the order\u00a0 subject to assessee depositing a sum of Rs 5 crores-Directed the assessee to file reply in reassessment proceedings (AY. 2018-19)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 144B : Faceless Assessment-Advance received from clients-For failure to file proper reply the assessment was made by making huge addition-On writ the order was quashed subject to assessee depositing a sum of Rs 5 crores-Directed the assessee to file reply in reassessment proceedings.[S. 69A, 143, Art, 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-29287","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7Cn","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=29287"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29287\/revisions"}],"predecessor-version":[{"id":30407,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29287\/revisions\/30407"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=29287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=29287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}