Hansaben Girishbhai Shah vs. Dy.CIT, Cir-2(1)(1)

Parties Involved

Facts Summary

The assessee, Hansaben Girishbhai Shah, has appealed against the order of the Commissioner of Income Tax (Appeals) dated 27/03/2024 for the Assessment Year 2017-2018. The appeal primarily contests the validity of the reopening of the assessment by the Assessing Officer under sections 147 and 148 of the Income Tax Act, 1961. The Assessing Officer had reopened the assessment based on information from a search conducted on Kaushal Group, alleging that the assessee had availed accommodation entries. However, the assessee argued that they had only traded in the shares of Kaushal Ltd., which was fully disclosed and taxed during the original assessment proceedings.…

Legal Issues

• 1. Validity of the reopening of the assessment by the Assessing Officer under sections 147 and 148 of the Income Tax Act, 1961.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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