ACIT vs. Brij Bhushan Gupta
Parties Involved
Facts Summary
The Revenue has filed appeals against the order of the Learned Commissioner of Income Tax/National Faceless Appeal Centre, Delhi for the Assessment Years 2013-14 & 2015-16. The assessee has also filed cross objections in both the impugned assessment years. The primary issue revolves around the limitation period for reopening assessments and whether the notices issued under section 148 of the Income Tax Act were valid. The assessee argued that the notices were barred by limitation as they were issued beyond the permissible period without sufficient evidence of escaped income represented as an asset. The Revenue, on the other hand, relied on the orders of the lower authorities.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the reassessment for AY 2015-16 is barred by limitation.
- 2. Whether the notice issued under section 148 for AY 2013-14 is valid.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
6 precedents cited in this judgement.
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