ITA No. 2309/KOL/2024 & CO No. 4/KOL/2025
Case No: ITA No. 2309/KOL/2024 & CO No. 4/KOL/2025
Court: INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA
Date: 3/4/2025
Parties Involved
appellantACIT, CC 3(2), Kolkata
respondentM/s Delightful Estate Developers LLP
Facts Summary
The assessee, M/s Delightful Estate Developers LLP, filed a return of income on 21.07.2017 declaring total income at ₹ nil. A search action conducted on 25.05.2018 in the case of Banka Group of companies revealed that Mukesh Banka and associated entities were engaged in providing accommodation entries, with the assessee being a beneficiary to the tune of ₹68,00,224/-. Consequently, the case of the assessee was reopened u/s 147 of the Act by issuing a notice u/s 148 on 31st March, 2021. The asses…
Decision in favour of
Assessee
Legal Issues
- 1. Validity of reopening of assessment u/s 147 of the Act based on vague reasons.
Precedents Relied Upon
1 precedent cited in this judgement.