Jag Mohan vs. Deputy Commissioner of Income Tax

Parties Involved

Facts Summary

This appeal by the assessee, Jag Mohan, is directed against the order of the Commissioner of Income Tax (Appeals)-28, New Delhi, dated 18/09/2017, for Assessment Year 2014-15. A search and seizure operation under section 132 of the Income Tax Act was conducted on 26.08.2013 in the case of Mohan India Group, of which the assessee is one of the Directors. During the search, the bank account of the assessee with Axis Bank Ltd. was also searched. Based on the search, an assessment for AY 2014-15 was completed, making an addition of Rs.473,71,00,000/-. The assessee filed an appeal before the CIT(A), challenging the addition on merits and legal grounds, which was dismissed. Hence, the present appeal by the assessee. The assessee raised several objections including the validity of the search, the applicability of section 143(3) instead of section 153A, and the merits of the addition made by the Assessing Officer.…

Legal Issues

• 1. Validity of the search and seizure operation
• 2. Applicability of section 143(3) instead of section 153A
• 3. Merits of the addition of Rs.473.71 crores

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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