MINISHA EXIM PRIVATE LTD,SURAT vs. INCOME TAX OFFICER-1(1)(3), SURAT, SURAT

ITA 434/SRT/2025Status: DisposedITAT Surat05 August 2026AY 2017-186 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the reassessment proceedings were validly initiated, but the addition of 100% of purchases was excessive. It directed that only 6% of the purchases should be considered as bogus, aligning with a High Court precedent.

What were the facts?

The assessee, engaged in diamond trading, had its assessment reopened based on information about an accommodation entry provider. The Assessing Officer added the entire amount of purchases from a related entity as suspicious, leading to an appeal.

What were the issues?

The key issues were the validity of reassessment proceedings, including proper notice and approvals, and the extent to which purchases from a suspect entity could be disallowed.

Which sections of the Income-tax Act were involved?

Section 148,Section 147,Section 151,Section 37(1),Section 270A,Section 234A,Section 234B,Section 153C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, SURAT BENCH, SURAT

Before: MS. SUCHITRA KAMBLE & SHRI BHAGIRATH MAL BIYANI

For Appellant: Shri Himanshu Gandhi, CA
For Respondent: Shri Ashish Kumar, Sr. DR
Hearing: 11.06.2026Pronounced: 05.08.2026

PER : SUCHITRA KAMBLE, J M:

The appeal filed by the assessee is against the order passed by the Learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [in short “CIT(A)”] dated 19.02.2025 for the Assessment Year (in short “AY”) 2017-18. 2. The assessee has raised the following grounds of appeal:

“1. On the facts and circumstances of the case and in law, the Ld. CIT(A) erred in confirming validity of reassessment proceedings under section 148 which is bad in law and required to be quashed.

2.

On the facts and circumstances of the case and law, the Ld. CIT(A) failed to con

The order continues below.

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