Bullionline LLP Vs. The P.C.I.T.

Parties Involved

Facts Summary

Bullionline LLP, a limited liability partnership firm incorporated on 07.10.2014 and engaged in manufacturing/trading/export of gold jewelry and gold bars, filed its return of income for AY 2017-18 declaring total income at Rs. 3,02,69,970/-. The return was subjected to scrutiny and an order u/s 143(3) was passed on 27.12.2019 determining the total income at Rs. 6,32,96,552/- making an addition of Rs. 3,30,26,582/-. The assessee challenged the jurisdiction of the ITO, Ward-6(1), Chandigarh and the case was transferred to ITO, Ward 40(3), New Delhi and subsequently to ACIT, Circle 40(1), New Delhi.…

Legal Issues

• 1. Jurisdiction of the Assessing Officer for issuance of notice u/s 143(2)

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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