GOPI SAURABH PATWA,AHMEDABAD vs. THE CIT (IT & TP) NOW PCIT-3, AHMEDABAD

PDF · subscribers
ITA 775/AHD/2024Status: DisposedITAT Ahmedabad10 September 2024AY 2015-16Bench: SHRI SIDDHARTHA NAUTIYAL (Judicial Member), SHRI MAKARAND V. MAHADEOKAR (Accountant Member)10 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 PCIT's invocation of Section 263 was unjustified as the AO had conducted a proper inquiry and examined documentary evidence. The reliance on an excel sheet from a third party without corroborative evidence was deemed insufficient.

What were the facts?

The assessee's assessments for AYs 2015-16 and 2017-18 were reopened based on information about alleged 'on-money' payments for property purchase. The AO completed reassessments accepting returned income, but the PCIT invoked Section 263, setting aside the AO's orders.

What were the issues?

Whether the PCIT was justified in invoking Section 263 when the AO had conducted a proper inquiry into the alleged 'on-money' payments for property purchase.

Which sections of the Income-tax Act were involved?

Section 263,Section 147,Section 144B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “ A ” BENCH, AHMEDABAD

Before: SHRI SIDDHARTHA NAUTIYAL & SHRI MAKARAND V. MAHADEOKAR

For Appellant: Shri Vartik Chokshi, AR
Hearing: 03/09/2024Pronounced: 10/09/2024

आदेश क� ��त�ल�प अ�े�षत/Copy of the Order forwarded to : 1. अपीलाथ� / The Appellant 2. ��यथ� / The Respondent. 3. संबं�धत आयकर आयु�त / Concerned CIT 4. आयकर आयु�त ( अपील ) / The CIT(A)/CIT (IT & TP) Now PCIT-3, Ahmedabad 5. �वभागीय ��त�न�ध , आयकर अपील�य अ�धकरण , राजोकट/DR,ITAT, Ahmedabad, 6. गाड� फाईल /Guard file.

More judgments on Section 263

All 13,616 judgments and leading authorities on Section 263 →

Recent GST High Court judgments

Search GST case law →