NITU PATTNAIK,ANGUL vs. ITO, ANGUL WARD, ANGUL

PDF · subscribers
ITA 379/CTK/2019Status: DisposedITAT Cuttack13 October 2020AY 2012-136 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the investments were recorded in the assessee's bank accounts and were supported by withdrawals from her and her husband's accounts. Considering the factual aspects and in the interest of justice, the Tribunal restored the appeal to the AO for fresh assessment.

What were the facts?

The assessee's appeal concerns an addition of Rs. 2 crores for unexplained investment in fixed deposits. The Assessing Officer (AO) initiated reassessment proceedings based on a survey report and completed the assessment ex-parte. The assessee argued that the deposits were made from her own bank accounts and her husband's accounts, supported by documentary evidence.

What were the issues?

Whether the reassessment proceedings were validly initiated and whether the addition for unexplained investment in fixed deposits was justified without considering the documentary evidence provided by the assessee.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 143(2),Section 144,Section 69

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, CUTTACK BENCH CUTTACK

Before: SHRI C.M. GARG, JM & SHRI L.P. SAHU, AM

Hearing: 12/10/2020Pronounced: 13/10/2020

आदेश की प्रनिलऱपप अग्रेपषि/Copy of the Order forwarded to : अऩीलाथी / The Appellant- 1. Nitu Pattnaik, Gandhimarg, Amalapada, Angul-759122 प्रत्यथी / The Respondent- 2. ITO, Angul Ward, Angul आयकि आयुक्त(अऩील) / The CIT(A), 3. आयकि आयुक्त / CIT 4. ववभागीय प्रनतननधध, आयकि अऩीलीय अधधकिण, कटक / DR, ITAT, 5. Cuttack गार्ा पाईल / Guard file. 6. सत्यावऩत प्रनत //True Copy//

आदेशािुसार/ BY ORDER,

(Senior Private Secretary) आयकर अपीऱीय अधिकरण, कटक/ITAT, Cuttack

More judgments on Section 147

All 49,210 judgments and leading authorities on Section 147 →

Recent GST High Court judgments

Search GST case law →