Krishan Kumar Gupta Vs. National Faceless Assessment Centre, Delhi

Parties Involved

Facts Summary

This appeal by the Assessee, Krishan Kumar Gupta, is preferred against the order of the Learned National Faceless Assessment Centre (NFAC), Delhi, dated 11.12.2023 pertaining to Assessment Year 2013-14. The appellant contested the order of the learned Assessing Officer (AO) on both legal grounds and merits. The legal challenge was regarding the initiation of proceedings under Section 147 of the Income Tax Act, 1961. The merits of the case involved the addition of Rs. 49,18,500/- under Section 68 and Rs. 1,47,555/- under Section 69C of the Act. The Learned Commissioner of Income Tax (Appeals) (CIT(A)) dismissed the assessee’s objections, indicating a lack of application of mind.…

Legal Issues

• 1. Initiation of proceedings under Section 147 of the Income Tax Act, 1961
• 2. Addition of Rs. 49,18,500/- under Section 68
• 3. Addition of Rs. 1,47,555/- under Section 69C

Judgment Outcome

Decided in favour of Assessee.

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