NARENDRA PRASAD RAI,DELHI vs. THE INCOME TAX OFFICER, DELHI
Income Tax Appellate Tribunal, DELHI BENCH ‘SMC’, NEW DELHI
Before: Sh. Satbeer Singh Godara
This assessee’s appeal for Assessment Year 2012-13, arises against the CIT(A)/NFAC, Delhi’s DIN & order No.
ITBA/NFAC/S/250/2024-25/1072338735(1) dated 20.01.2025, in proceedings u/s 143(3) r.w.s. 147 of the Income Tax Act,
1961 (in short “the Act”).
Case called twice. None appears at the assessee’s behest. He is accordingly proceeded ex-parte.
It transpires during the course of hearing that there arises the first and foremost legal issue of validity of the impugned reopening itself as the learned assessing authority had set into motion section 148/147 proceedings against the assessee regarding the sole reason of cash deposits of Rs.15,20,000/- whereas his assessment framed on 04.12.2019 Narendra Prasad Rai
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ended up adding long capital gains of Rs.34,82,186/- in question. It is thus clear that the learned assessing authority has nowhere made any addition qua the above sole reason of reopening.
That being the clinching case, I hereby quote Ranbaxy 5. This assessee’s appeal is allowed. Order Pronounced in the Open Court on 25/06/2025. (Satbeer Singh Godara)
Judicial Member
Dated: 25/06/2025
*Subodh Kumar, Sr. PS*