ITO, NEW DELHI vs. M/S. KANODIA PHARMACEUTICALS PVT. LTD., NEW DELHI

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ITA 4858/DEL/2015Status: DisposedITAT Delhi22 January 2019AY 2003-0410 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the AO failed to apply his mind while issuing the notice under Section 148, as evidenced by errors in the data presented and treating payments as receipts. The notice was deemed void ab initio.

What were the facts?

The Assessing Officer (AO) reopened the assessment based on information from the Investigation Wing alleging the assessee received accommodation entries. The AO issued a notice under Section 148, adding a significant sum as escaped income.

What were the issues?

Whether the notice issued under Section 148 for reopening the assessment was valid, considering the AO's alleged non-application of mind and errors in the information relied upon.

Which sections of the Income-tax Act were involved?

Section 148,Section 68

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(8)Show list

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Income Tax Appellate Tribunal, [ DELHI BENCH “F”, NEW DELHI ]

Before: SMT. BEENA A. PILLAIDR. B.R.R. KUMAR

For Appellant: Shri Kapil Goel, Advocate
For Respondent: Shri. Surender Pal, Sr. DR

Hence keeping in view the entirety of the facts and circumstances of the case and the propounded legal propositions, we hereby confirm the order of the Ld. CIT(A). Any decision on the merits of the case would be only be academic in nature and hence not being adjudicated.

9.

As a result appeal of the Revenue is dismissed.

Order pronounced on the open court on 22/01/2019.

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