ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4, JAIPUR vs. GOPAL PRASAD GUPTA, JAIPUR
What did the Tribunal hold?
The Assessing Officer initiated reassessment proceedings u/s 147 and issued notice u/s 148 of the Act based on information regarding unaccounted cash loans and interest. The assessee challenged this, arguing that Section 153C should have been invoked as the seized documents belonged to a third party. The CIT(A) quashed the proceedings, relying on the Rajasthan High Court's decision in DB Civil Writ Petition No. 18363/2019, which held that Section 153C has an overriding effect over Section 148 in such cases.
What were the facts?
Information was received from DDIT (Inv.)-II, Jaipur regarding substantial inquiries conducted during search and post-search proceedings of Ramesh Maihar Group. Incriminating documents (pen drives) were seized. Key persons of the group were engaged as finance brokers for arranging cash loans, not reflected in books, and brokerage was not offered for taxation. The assessee advanced unaccounted loans and earned unaccounted interest.
What were the issues?
Whether the proceedings initiated u/s 148 of the Income Tax Act, 1961 were valid when the seized documents belonged to a third party, and Section 153C was allegedly not invoked.
Which sections of the Income-tax Act were involved?
Section 147,Section 148,Section 153C,Section 69A,Section 143(3)
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Income Tax Appellate Tribunal, JAIPUR BENCHES, “A” BENCH, JAIPUR
Before: SHRI SANJAY GARG & SHRI RATNESH NANDAN SAHAY
Per Ratnesh Nandan Sahay, Accountant Member:
Both the present appeals have been preferred by revenue against the order of Ld. Commissioner of Income Tax Appeal (hereinafter referred to as “Ld. CIT(A)”) dated 08.09.2025 u/s 250 of the Income Tax Act, 1961 (hereinafter referred to as “Act”).
P a g e | 2 ITA No.1764 & 1765/JPR/2025 Gopal Prasad Gupta
The revenue has taken the following grounds of appeal:- i)Whether the Learned CIT(A) erred in quashing the assessment proceedings based solely on the High Court judgment in DBCWP 18363/2019, without considering the unique facts and ci
The order continues below.
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