DCIT, VS. RAJAN KUMAR

Parties Involved

Facts Summary

The assessee, Rajan Kumar, filed his return of income for the assessment year 2013-14 declaring a total income of Rs. 40,48,410/-. The Assessing Officer (AO) noted that the assessee had made bogus purchases amounting to Rs. 6,93,70,500/- from various paper/bogus entities. Consequently, the AO issued a notice under section 148 on 17.06.2021. Several writ petitions were filed against this notice, and the matter was eventually decided by the Supreme Court in the case of Union of India & Ors. Vs. Ashish Agarwal and others. Following this, the AO issued a notice under section 148A(b) on 27.05.2022, alleging bogus purchases. The assessee submitted a detailed reply on 25.06.2022. Despite this, the AO issued a reassessment notice under section 148 on 19.07.2022, which the assessee contested as time-barred.…

Legal Issues

• 1. Validity of the notice issued under section 148
• 2. Whether the assessment proceedings were time-barred

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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