Gita M Shah Vs. National Faceless Assessment Centre

Parties Involved

Facts Summary

The appellant, Gita M Shah, filed her income tax return for the assessment year 2013-14 declaring a total income of Rs. 17,87,780/-. The Assessing Officer (AO) reopened the assessment under section 148 of the Income-tax Act, 1961, and issued a notice on 28.07.2022. The AO made additions to the appellant's income, including a long-term capital gain of Rs. 2,96,53,989/- and commission expenses of Rs. 5,93,080/-. The appellant filed an appeal against the assessment order, which was dismissed ex-parte by the Learned Commissioner of Income Tax (Appeals) (CIT(A)) for non-prosecution. The appellant then filed this appeal before the Income Tax Appellate Tribunal (ITAT), raising several grounds of challenge against the reassessment proceedings and the assessment order.…

Legal Issues

• 1. Validity of the order passed under section 147 read with section 144B of the Income-tax Act, 1961.
• 2. Failure to provide a copy of the approval obtained under section 151 of the Act.
• 3. Treatment of income exempt under section 10(38) of the Act as taxable income.
• 4. Reliance on the investigation wing's report without rebutting the appellant's evidence.
• 5. Addition of long-term capital gain as income under section 68 of the Act.
• 6. Addition of commission expenses under section 69C of the Act.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

• Neena Bihani Vs. ITO Ward 49(2)

  Kolkata benchAY 2015-16Allowed

• Mr. Jay Hansraj Chheda Vs. Income Tax Officer

• Surendra Garg, HUF vs Income Tax Officer 19(3)(4), Mumbai

• Anju Kesarwani Vs. Deputy Commissioner of Income Tax

  Delhi Bench benchAY 2014-15Allowed

• Vipul Mittal vs. DCIT, Circle 11 (2)

• Gaurav Dye House Vs. ITO

  Delhi 'E' Bench benchAY 2022-23Allowed