Anil Kr. Jain vs. DCIT
Parties Involved
Facts Summary
The assessee, Anil Kumar Jain, filed his return of income for Assessment Year 2013-14 declaring a total income of Rs.13,24,680/-. The assessment was completed under section 143(3) of the Income Tax Act, 1961, and the income was assessed at Rs. 14,22,340/-. Subsequently, based on information from a survey/search carried out in related cases, the assessee's case was reopened under section 147 of the Act. The Assessing Officer made additions of Rs.1,13,96,698/- towards unsecured loans and bogus purchases. The Commissioner of Income Tax (Appeals) confirmed the action of the Assessing Officer, leading the assessee to appeal before the Tribunal.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the CIT(A) erred in confirming the action of the AO in issuing notice u/s 148 and assumption of jurisdiction u/s 147 in absence of condition precedent for assumption of jurisdiction.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
6 precedents cited in this judgement.
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