Amrutbhai Ichhabhai Patel vs. DCIT

Parties Involved

Facts Summary

The assessee filed an appeal against the order of the National Faceless Appeal Centre (NFAC), Delhi, dated 16.08.2023 for the Assessment Year 2013-14. The original assessment was completed under Section 143(3) of the Income Tax Act, 1961 on 29.03.2016 at total income of Rs.3,69,07,440/-. Thereafter, proceeding u/s. 147 of the Act was initiated by the Assessing Officer (AO) and the re-assessment was completed u/s.147 r.w.s. 144B of the Act on 20.09.2021 at total income of Rs.11,65,97,440/-. The AO had made addition of Rs.9,32,90,000/- on account of unexplained deposits in the bank account of the assesse u/s.68 of the Act. The assessee had filed an appeal before the First Appellate Authority, which has been decided by the Commissioner of Income Tax (Appeals) vide the impugned order and the appeal of the assessee was dismissed.…

Legal Issues

• 1. The legality of proceedings u/s.147 of the Act.
• 2. The addition made by the AO.

Judgment Outcome

Decided in favour of Assessee.

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