Bhavika Bhuwalka Vs. ITO

Parties Involved

Facts Summary

The case involves an appeal by Bhavika Bhuwalka against the order of the Commissioner of Income Tax (Appeals)/ NFAC, Delhi for the Assessment Year 2013-14. The assessee raised several grounds of appeal, including the invalidity of the notice issued under section 148 of the Income Tax Act due to lack of proper sanction under section 151. The assessee argued that the Principal Commissioner of Income Tax (PCIT) did not provide proper reasons or satisfaction for issuing the notice, and the sanction was undated. Additionally, the assessee contested the addition of Rs. 5,40,000/- on the grounds of unexplained investment, claiming that the purchase of shares was from explained/disclosed sources and no sale or gain was made.…

Legal Issues

• 1. Validity of the notice issued under section 148 of the Income Tax Act without proper sanction under section 151.
• 2. Addition of Rs. 5,40,000/- on the grounds of unexplained investment.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

• Anumita Infrastructure Private Limited vs. PCIT-4

  Mumbai benchAY 2017-18Allowed

• Reshma Harbakhsh Singh through Legal Heir Vikaramaditya Singh VS DCIT

  Delhi Bench ‘A’, New Delhi benchAY 2018-19Allowed

• Neena Bihani Vs. ITO Ward 49(2)

  Kolkata benchAY 2015-16Allowed

• The Tiruchendur Co-op. Prmary Co-operative Society Vs. The Income Tax Officer, Ward-2, Tuticorin

• Anupma Bidra vs Income Tax Officer, G Budh Nagar

  Delhi Bench benchAY 2012-13Allowed

• Nitin Jain vs ACIT

  Delhi 'E' Bench: New Delhi benchAY 2014-15Allowed