Dipak Agarwalla HUF vs. The Income Tax Officer
Case No: I.T.A. No. 1400/Kol/2025
Court: INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, KOLKATA
Date: 10/23/2025
Parties Involved
appellantDipak Agarwalla HUF
respondentThe Income Tax Officer, Ward-3(1), Malda
Facts Summary
The assessee, Dipak Agarwalla HUF, did not file its return of income for the assessment year 2019-2020. The Assessing Officer noticed cash withdrawals of ₹2,84,38,000 from a current account maintained with Axis Bank during the financial year 2018–19. The case was reopened under section 147 of the Income-tax Act, 1961, and notice under section 148 was issued. Despite service of notice, the assessee did not file any return of income. Subsequently, notice under section 142(1) was issued, in respons…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the assessment order is bad in law and against the principles of natural justice?
- 2. Whether the authorities below failed to properly verify the business nature of the transactions?