Khushaldas Shyammumal Lilvani (Individual) vs. ITO

Parties Involved

Facts Summary

The assessee, Khushaldas Shyammumal Lilvani, has appealed against the order of the Commissioner of Income Tax (Appeals) for the Assessment Year 2017-18. The assessee has raised several grounds of appeal, including the legality of the reopening of assessment under section 147, the validity of the Show Cause Notice under section 148, and the correctness of the additions made by the Assessing Officer under sections 69A and 68. The assessee has also contested the disallowance of expenses on an estimated basis. The assessee has provided documents to support the source of the cash amount and the loan amount, and has argued that the lower authorities failed to properly appreciate the facts and evidences.…

Legal Issues

• 1. Legality of the reopening of assessment under section 147
• 2. Validity of the Show Cause Notice under section 148
• 3. Correctness of the additions made by the Assessing Officer under sections 69A and 68
• 4. Disallowance of expenses on an estimated basis

Judgment Outcome

Decided in favour of Assessee.

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