SATYEN SARAWAT L/H OF LATE SMT.ANJANA SARASWAT,KOLKATA vs. D.C.I.T.,CIRCLE-33, KOLKATA

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ITA 2435/KOL/2019Status: DisposedITAT Kolkata31 October 2022AY 2008-097 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the reassessment proceedings were initiated without a valid foundation, as the AO did not make any addition based on the reasons recorded for reopening. Therefore, the assumption of jurisdiction by the AO was challenged.

What were the facts?

The assessee disclosed income including long-term capital gains from the sale of immovable property. The Assessing Officer (AO) reopened the assessment under Section 147, citing information about a gift and the property's value. However, no addition was made by the AO regarding the sale consideration.

What were the issues?

Whether the reassessment proceedings initiated under Section 147 are valid when the AO does not make any addition based on the recorded reasons for reopening the assessment.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 143(1)

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(4)Show list

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Income Tax Appellate Tribunal, BENCH “C”KOLKATA

Before: Shri Sanjay Garg & Shri Manish Borad

आदेश खुले �यायपीठ म� �दनांक 31-10-2022 को उ�घो�षत। Order pronounced in the open court on 31-10-2022 Sd/- Sd/- ( SANJAY GARG) (MANISH BORAD) JUDICIAL MEMBER ACCOUNTANT MEMBER Dated :31-10-2022 **PP/SPS 6. Smt. Anjana Sarasat Through L/H: Sri Satyen Saraswat

आदेश क� ��त�ल�प अ�े�षत / Copy of Order Forwarded to:- 1.अपीलाथ�/Appellant/: Sri Satyen Saraswat, L/H of Late Smt. Anjana Saraswat C/o Sri Jitendra Kaushik, Advocate, 19D Muktaram Babu Street, Kolkata-700 007. 2. ��यथ�/Respondent/:DCIT, Cir-33, Kolkata, 10B, Middleton Row, Kolkata-700 071. 3. संबं�धत आयकर आयु�त / Concerned CIT 4. आयकर आयु�त- अपील / CIT (A) 5. �वभागीय ��त�न�ध, आयकर अपील�य अ�धकरण कोलकाता / DR, ITAT, Kolkata 6.गाड�फाइल/Guardfile. By order/आदेश से, /True Copy/ Assistant Registrar ITAT, Kolkata

7.

Smt. Anjana Sarasat Through L/H: Sri Satyen Saraswat

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