M/S. SHRI VARDHMAN KNITYARN,NEW DELHI vs. ITO, NEW DELHI

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ITA 1842/DEL/2012Status: DisposedITAT Delhi01 June 2016AY 2003-046 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the AO did not provide sufficient opportunity to the assessee and that the procedure for service of notice under Section 148 was contrary to law. The Tribunal set aside the assessment to the file of the AO for de novo decision.

What were the facts?

The Assessing Officer (AO) issued a notice under Section 148, which the assessee claimed was not served. The AO proceeded to complete the assessment under Section 147/144, making an addition of Rs. 10 lacs under Section 68. The CIT(A) upheld the AO's order.

What were the issues?

Whether the assumption of jurisdiction by the AO under Section 147 was valid, and whether the notice under Section 148 was properly served, along with the validity of the assessment order passed under Section 144.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 144,Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH “D”, NEW DELHI

Before: SHRI H.S. SIDHU & SHRI O.P. KANT

per law.

6.

In the result, the Appeal filed by the Assessee stands allowed for statistical purposes.

Order pronounced in the Open Court on 01/6/2016.

Sd/- Sd/-

1.

[O.P. KANT] [O.P. KANT] [O.P. KANT] [O.P. KANT] [H.S. SIDHU] [H.S. SIDHU] [H.S. SIDHU] [H.S. SIDHU] ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER Date 01/6/2016 “SRBHATNAGAR” “SRBHATNAGAR” “SRBHATNAGAR” “SRBHATNAGAR”

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