Kishorkumar N Desai vs. Income Tax Officer, Ward-3(1), Surat

Parties Involved

Facts Summary

The assessee, Kishorkumar N Desai, appealed against the order of the National Faceless Appeal Centre, Delhi, dated 13.09.2023, which confirmed the demand notice sent for assessment year 2011-12 as valid demand notice under section 156 for assessment proceedings carried on for assessment year 2013-14. The assessee raised several grounds of appeal, including the validity of the demand notice, the addition of Rs.13,19,000/- under section 50C of the Income Tax Act, 1961, the levy of interest under sections 234-A, 234-VB, 234-C & 234-D, and the initiation of penalty under section 271(1)(c). Additionally, the assessee sought to amend the grounds of appeal to include a claim for additional deduction under section 54F of the Act.…

Legal Issues

• 1. Validity of the demand notice under section 156 for assessment year 2011-12.
• 2. Addition under section 50C of the Income Tax Act, 1961.
• 3. Levy of interest under sections 234-A, 234-VB, 234-C & 234-D.
• 4. Initiation of penalty under section 271(1)(c).
• 5. Additional deduction under section 54F.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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