ACIT, JAMMU vs. SH M.K. AJAT SHATRU, JAMMU

ITA 263/ASR/2003Status: DisposedITAT Delhi24 January 2022AY 1998-99112 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the reassessment proceedings were unsustainable in law. The additions made were not the grounds for reopening, and the basis for reopening in other cases was also invalid. Therefore, the reopening of assessment was quashed.

What were the facts?

The assessee filed a return which was declared invalid due to defects. Subsequently, a notice under Section 148 was issued for alleged escapement of income. The Assessing Officer made additions on account of capital gains on shares and agricultural income. The assessee challenged the validity of reassessment proceedings.

What were the issues?

The primary issue was the validity of the reassessment proceedings initiated by the Assessing Officer. Another issue was whether the additions made by the AO were sustainable when they were not the basis for reopening.

Which sections of the Income-tax Act were involved?

Section 139(9),Section 148,Section 147

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Cases cited in this judgment(30)Show list

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Heard together (4 matters)

ITA Nos.263/ASR/2003
CO NO.43/ASR/2007
CO NO.44/ASR/2007
CO NO.45/ASR/2007

Read from the judgment's own cause title. This page is filed under one of them.

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “D” : NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER ITA Nos.263/ASR/2003 Assessment Year 1998-99 ACIT, Shri M.K. Ajat Shatru, Circle-II, vs The Palace, Jammu Jammu. Assessment Year 1998-99 ACIT, Dr. Karan Singh, Circle-II, vs. The Palace, Jammu Jammu.

CO NO.43/ASR/2007 Arising out of ITA No.267/ASR/2007 - Assessment Year 1998-99 Dr. Karan Singh, ACIT, The Palace, vs. Circle-II, Jammu Jammu Assessment Year 1998-99 ACIT, Yashorajya Lakshmi Circle-II, ITA.Nos.263/Asr/2003, 267 to 269/Asr/2007 & C.O.Nos.43 to 45/Asr/2007 Shri M.K. Ajatshatru, Jammu & Others, CO NO.44/ASR/2007 Arising out of ITA No.268/ASR/2007 - Assessment Year 1998-99 Yashorajya Lakshmi ACIT, Dr. Karan Singh, Legal Heir vs. Circle-II, of Smt. Yashorajya Lakshmi, Jammu The Palace, Jammu. Assessment Year 1998-99 ACIT, Shri Vikramaditya Singh, Circle-II, vs. The Palace, Jammu Jammu

CO NO.45/ASR/2007 Arising out of ITA No.269/ASR/2007 - Assessment Year 1998-99 Shri Vikramaditya Singh, ACIT, The Palace, vs. Circle-II, Jammu Jammu (

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