Jashandeep Singh Sidhu Patti Vs. ITO, Ward-1, Bathinda

Parties Involved

Facts Summary

The assessee, Jashandeep Singh Sidhu Patti, did not file his income return for the assessment year 2010-11. The Assessing Officer initiated reassessment proceedings under section 148 of the Income Tax Act based on information from the Annual Information Return (AIR) database, which indicated cash deposits amounting to Rs. 40,17,500 in an ICICI bank account. The assessee filed an appeal against the reassessment order, arguing that the proceedings were initiated on incorrect facts and without proper application of mind. The appeal was heard and decided on 09.09.2024.…

Legal Issues

• 1. Whether the reassessment proceedings initiated by the Assessing Officer were legally justified?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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