M/s Sagun Sales Private Limited Vs ITO Ward-4(1), Kolkata

Parties Involved

Facts Summary

This is an appeal filed by the assessee, M/s Sagun Sales Private Limited, against the order dated 19.04.2024, passed by the ld.CIT(A), National Faceless Appeal Centre, Delhi for the assessment year 2011-2012. The issue in the appeal was against the reopening of the assessment. The Assessing Officer (AO) had received information from the Income Tax Officer (Investigation) Unit-1 & AIU, Kolkata regarding tax evasion through various beneficiaries. However, there was no independent application of mind by the AO nor a live link connecting the assessee to the said information. The appellant argued that the reassessment proceeding is liable to be quashed based on the lack of credible material and independent application of mind by the AO.…

Legal Issues

• 1. Validity of reopening the assessment

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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