BABU SREE KRISHNA AMARNATH SUMAN NEERUKONDA,KRISHNA DIST vs. INCOME TAX OFFICER (INTERNATIONAL TAXATION), VIJAYAWADA

ITA 39/VIZ/2026Status: DisposedITAT Visakhapatnam09 September 2026AY 2017-189 pages
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What did the Tribunal hold?

The Tribunal held that since the assessee filed objections before the DRP, the time limit under Section 144C(13) was applicable and the assessment order was within limits. However, the Tribunal found that the AO erred in applying the amended rate of tax under Section 115BBE, directing the AO to compute tax at the pre-amendment rate of 30%.

What were the facts?

The assessee, a Non-Resident Indian, had financial transactions during FY 2016-17, leading to the reopening of assessment. The Assessing Officer (AO) made an addition of Rs. 8,07,700/- as unexplained money. The assessee argued that the AO incorrectly followed the procedure under Section 144C and that the assessment was time-barred.

What were the issues?

Whether the assessment order was passed within the prescribed time limits, and whether the amended provisions of Section 115BBE were applicable for the assessment year 2017-18.

Which sections of the Income-tax Act were involved?

Section 148,Section 147,Section 144C,Section 153(2),Section 115BBE,Section 69A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

Pronounced: 09.09.2026

PER MANJUNATHA G., ACCOUNTANT MEMBER :

This appeal is filed by the Assessee against the order of Ld.CIT (DRP-1), Bangalore-2 vide DIN: ITBA/DRP/F/144C(5)/2025- 26/1083430550(1) dated 08.12.2025 for the Assessment Year 2017- 18. 1 Babu Sree Krishna Amarnath Suman Neerukonda

2.

The brief facts of the case are that the assessee is a Non-Resident Indian and undertaken certain financial transactions during the F.Y.2

The order continues below.

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