Harjeet Singh Sahni vs DCIT, Central Circle, Ghaziabad

Parties Involved

Facts Summary

The basic facts of the case are that a search and seizure operation under section 132 of the Income Tax Act was conducted on 03.11.2016 at the premises of the assessee, Shri Harjeet Singh Sahni. The search operation was conducted at the residential premises of the assessee at Villa No.3, ATS Village Green, Sector-93A, Noida. The assessee’s return for the year under consideration was filed at an income of Rs.13,01,487/-. During the search, it was noticed that the assessee had purchased a luxurious property at Villa No.-4, Type-K, ATS Green Village, Sec-93, Noida, jointly with his wife for Rs.5,85,00,000/-. The Assessing Officer (AO) estimated the value of the property to be about 7 to 8 Crore and added Rs. 1,07,50,000/- as unexplained investment to the total income of the assessee under section 69 of the Act. Further, the AO disallowed a deduction of Rs 4,85,39,557/- claimed under section 80IC/80IE of the Act and added it to the total income as concealed income.…

Legal Issues

• 1. Whether the assumption of jurisdiction under section 153A of the Income Tax Act by the AO is in accordance with law.
• 2. Whether the action of the AO in passing the impugned assessment order is sustainable on legal and factual grounds.
• 3. Whether the additions made by the AO should have been deleted by the CIT(A) for lack of incriminating material.
• 4. Whether the action of the CIT(A) in not deleting the additions made by the AO is sustainable.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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