HANSA DINESH,UDUPI vs. ITO, WARD-1 & TPS, UDUPI

ITA 540/BANG/2026Status: DisposedITAT Bangalore31 August 2026AY 2023-246 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the CIT(A) did not properly examine the details submitted by the assessee and that an 8% net profit rate for bullion trading seemed unusually high. The Tribunal restored the issue to the Assessing Officer for fresh adjudication.

What were the facts?

The assessee, engaged in bullion trading, filed her return with a low net profit. The Assessing Officer rejected her books of account due to incomplete information and estimated profit at 8% of turnover. The CIT(A) upheld this decision.

What were the issues?

Whether the rejection of books of account and estimation of profit by the lower authorities were justified without proper verification of submitted documents and considering the nature of the business.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144B,Section 145(3),Section 133(6)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCHES, BANGALORE

Before: SHRI PRASHANT MAHARISHI & SHRI SOUNDARARAJAN K.

PER SHRI PRASHANT MAHARISHI, VICE PRESIDENT:

1.

This appeal is filed by Mrs. Hansa Dinesh, the assessee/appellant, against the appellate order dated 22 December 2025 passed by the National Faceless Appeal Centre, Delhi, for assessment year 2023–24. By that order, the learned CIT(A)/NFAC dismissed the assessee’s appeal against the assessment order dated 18 March 2025 passed under section 143(3) read with section 144B of the Income-tax Act, 1961, by the Assessment U

The order continues below.

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