Meghna Banga Vs. DCIT, Central Circle-7

Parties Involved

Facts Summary

A search and seizure operation under section 132 of the Income Tax Act, 1961 was conducted in the Jindal Bullion Ltd (JBL) Group on 05.01.2017. Digital data maintained in a software called Hazir Johri was seized at the residential cum business premises of Sh. Kusharg Jindal (promoter and director of JBL) at Plot No.25, Vaishali Enclave, Pitampura, Delhi. The digital data pertains mainly to FYs 2014-15, 2015-16 and 2016-17. The analysis of the said soft data clearly showed that JBL had been syste…

Legal Issues

• 1. Whether the impugned order passed u/s 250 by CITA-24, dismissing appeal of assessee and sustaining impugned assessment order of Ld AO is liable to be quashed as there is no prior valid sanction u/s 153D of the Act 1961 received by the AO before passing assessment order u/s 153C of the Act on dated 24.12.2021 which is received only on 25.12.2021.
• 2. Whether the impugned order passed u/s 250 by CITA-24, dismissing appeal of assessee and sustaining impugned assessment order of Ld AO is liable to be quashed as there is no valid approval u/s 153D of the Act 1961 which is given in mechanical manner without taking on board crucial reply of show cause notice by the assessee filed on dated 19.12.2021 approving defective and incomplete draft assessment order in haste without application of mind.

Precedents Relied Upon

Judgment Outcome