Mittal Homes Pvt. Ltd. vs. Income Tax Officer

Parties Involved

Facts Summary

The appellant, Mittal Homes Pvt. Ltd., filed its return of income for A.Y. 2015-16 declaring a total income of Rs. 22,480/-. Subsequently, information was received indicating that the assessee had taken accommodation entries totaling Rs. 64,00,000/- during F.Y. 2014-15. A notice under section 148 of the Income Tax Act was issued, and an assessment order was passed making an addition of Rs. 64,00,000/-. Aggrieved by this order, the assessee appealed to the Learned Commissioner of Income Tax (Appeals) who dismissed the appeal. The assessee then filed this appeal before the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the notice issued under section 148 of the Act on 25.07.2022 for A.Y. 2015-16 is barred by limitation.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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