Template Description

This template provides a comprehensive framework for drafting an appeal under Section 69B of the Income Tax Act, 1961. It is a 1-page MS Word document that allows taxpayers or their representatives to effectively challenge the addition made by the Assessing Officer concerning unaccounted or undervalued investments. This template is suitable for tax professionals, corporate entities, legal representatives, and individual taxpayers who seek to contest income tax assessments under this section.

Understanding Grounds of Appeal under Section 69A of Income Tax Act, 1961

Terminologies:

• Grounds of Appeal refer to the specific points raised by a taxpayer when contesting an assessment order made by the Assessing Officer (AO).
• Section 69A deals with undisclosed or unexplained money, bullion, or other valuable articles found in the possession of the taxpayer, for which no valid explanation is provided.

Procedure for Filing Grounds of Appeal under Section 69A:

•  Drafting the Grounds of Appeal:
• Clearly state the factual background of the case, highlighting the disputed addition made by the assessing officer.
• Specify the exact amount added to the income under Section 69A and provide detailed reasons why the addition is incorrect or unjustified.
•  Basis for Appeal:
• Present a detailed argument explaining why the addition under Section 69A is erroneous.
• Cite relevant provisions of law, judicial precedents, or factual inaccuracies in the assessing officer’s order that support your appeal.
•  Supporting Documents:
• Attach any supporting documents, evidence, or records that substantiate your claim and refute the assessing officer’s findings.
• Ensure all documents are properly organized and referenced in the appeal.
•  Submission:
• Submit the drafted grounds of appeal to the relevant appellate authority or tribunal.
• Ensure compliance with procedural requirements, such as deadlines and format specifications.

Key Considerations for Filing the Appeal:

• Clarity and Precision: Clearly articulate each ground of appeal, providing precise reasons and legal arguments.
• Supporting Evidence: Include all necessary evidence and documentation to support your claims.
• Legal References: Reference applicable legal provisions and case laws that bolster your appeal.
• Timeliness: Adhere to the deadlines for filing the appeal to avoid rejection on procedural grounds.

Conclusion

This template assists taxpayers in systematically challenging additions made under Section 69A of the Income Tax Act, 1961. It helps in drafting comprehensive and well-supported grounds of appeal to address disputes concerning unexplained money or assets. By utilizing this template, taxpayers can ensure that their appeal is detailed, legally sound, and effectively presented to the appellate authorities.