Concord Infra Projects Pvt. Ltd. vs. Principal Commissioner of Income-tax -3, Kolkata
Parties Involved
Facts Summary
The assessee, Concord Infra Projects Pvt. Ltd., filed an appeal against the order of the Principal Commissioner of Income-tax (PCIT) dated 10.08.2020, which was passed under section 263 of the Income Tax Act, 1961. The appeal was filed against the reassessment order passed by the Assessing Officer (AO) on 29.12.2017 under section 147 of the Act. The assessee contended that the AO's order was based on erroneous facts and lacked jurisdiction. The assessee argued that the AO had wrongly assumed jurisdiction to reopen the assessment for the assessment year 2010-11, and thus, the reassessment order was a nullity. The PCIT had interdicted the AO's order, which the assessee challenged. The appeal was heard virtually on 15.09.2021 and the judgment was pronounced on 13.10.2021.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the assessee is entitled to challenge the validity of the initiation of proceedings by the AO under section 147 of the Act in the present appeal?
- 2. Whether the AO had the requisite jurisdiction to reopen the assessment of the assessee?
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
9 precedents cited in this judgement.