NELLIKKOTE KUNHIPARI MOHAMMEDALI,KOZHIKODE vs. ACIT CIRCLE-1(1), KOZHIKODE
In the result, appeal filed by the assessee stands allowed
ITA 888/COCH/2024[2006-07]Status: DisposedITAT Cochin15 Jul 2025AY 2006-07
Bench: Shri Inturi Rama Rao, Am & Sonjoy Sarma, Jm
For Appellant: Shri Surendranath Rao, CAFor Respondent: Sri Suresh Sivanandan, CIT-DR
Section 143(3)Section 148Section 2(22)(e)Section 263
reassessment proceedings are invalid in law as there was no failure on the part of the assessee to disclose the material facts truly and fully necessary for the assessment proceedings. On merits of the case, it is submitted that the appellant does not hold shares more than 10% in the said companies and the advance was received for the purpose
