ASSISTANT COMMISSIONER OF INCOME TAX, PATNA vs. SUSHILA SULTANIA, PATNA
The appeal of the revenue is dismissed
ITA 475/PAT/2024[2014]Status: DisposedITAT Patna26 Aug 2025
Bench: Shri George Mathan & Shri Rajesh Kumari.T.A. No.475/Pat/2024 Assessment Year: 2014-15 Acit, Circle-4, Patna……..........................…...........................……….……Appellant Vs. Sushila Sultania, Patna……….............…..….…...……........……...…..…..Respondent 503, Venkatesh Apartment, Dakbunglow Road, Budh Marg, Patna, Bihar-800001. [Pan: Acmps5390M] Appearances By: Shri Ashwani Kumar, Jcit, Appeared On Behalf Of The Appellant. Shri Neelkhanth Kandelwal, Ar, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : August 14, 2025 Date Of Pronouncing The Order : August 26 , 2025 Order Per Rajesh Kumar: The Present Appeal Is Filed By The Revenue For The Assessment Year 2014-15 Against The Order Dated 21.05.2024 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Only Issue Raised By The Revenue In This Appeal Is Against The Order Of The Ld. Cit(A) Deleting The Addition Of Rs.1,84,74,698/- & Rs.8,79,748/- As Made By The Assessing Officer U/S 68 R.W.S. 115Bbe & U/S 69C Respectively. 3. Facts In Brief Are That The Case Of The Assessee Was Reopened U/S 147 By Issuing Notice U/S 148 Of The Act On 31.03.2021. The Said Notice Was Duly Complied By The Assessee By Filing Return Of Income On 22.04.2021 Declaring Total Income At Rs.19,11,200/-. The Assessing
Section 10(38)Section 142(1)Section 143(2)Section 147Section 148Section 250Section 68Section 69C
bogus transactions in equity shares amounting to Rs.1,75,94,950/- on which the claim of long-term capital gain of Rs.1,66,22,025/- was claimed as exempt. The Assessing Officer thereafter issued statutory notice u/s 143(2) and u/s 142(1) along with questionnaire calling thereby the various details and information from the assessee qua the said consideration
