MALIK CONSTRUCTION COMAPNY,BATOTE vs. DEPUTY COMMISSIONER INCOME TAX CIRCLE-1, JAMMU

ITA 477/ASR/2024Status: HeardITAT Amritsar08 September 2026AY 2015-1611 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal noted the assessee's non-compliance before lower authorities but recognized the significant factual contention regarding business takeover and double taxation. It held that the matter required verification of primary documentary evidence and set aside the CIT(A)'s order for de novo adjudication.

What were the facts?

The assessee, Malik Construction Company, was subjected to reassessment proceedings for AY 2015-16 due to non-filing of return and undisclosed financial transactions. The Assessing Officer made additions on account of time deposits, contractor receipts, and interest income. The assessee contended that the business was taken over by a successor company and the transactions were already accounted for there, leading to double taxation.

What were the issues?

Whether the additions made by the AO are justified when the assessee claims the transactions were already accounted for in the successor company's books due to a business takeover, leading to potential double taxation. Whether the assessee should be granted an opportunity to present documentary evidence to substantiate this claim.

Which sections of the Income-tax Act were involved?

Section 144,Section 147,Section 69A,Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DIVISION BENCH, AMRITSAR

Before: SHRI LALIET KUMAR & SHRI MANOJ KUMAR AGGARWAL

For Appellant: Shri Rajesh Sehgal, CA
For Respondent: Shri Arvind Kumar, CIT DR
Hearing: 07.09.2026Pronounced: 08.09.2026

PER LALIET KUMAR, JM This appeal by the assessee is directed against the order dated 21.06.2024 passed by the learned Commissioner of Income-tax (Appeals), National Faceless Appeal Centre, Delhi [“ld. CIT(A)”] under section 250 of the Income-tax Act, 1961 (“the Act”), arising from the ITA 477/ASR/2024 A.Y. 2015-16 2 assessment order dated 23.03.2022 passed under section 144 read with section 147 of the Act for Assessment Year 2015-16. 2. The brief facts of the case are that the assessee, Malik Construction Company, was subjected to reassessment proceedings under section 147

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 147

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

Recent GST High Court judgments

Search GST case law →