Narendra Sevantilal (HUF) Vs. Income Tax Officer
Case No: ITA No.5233/M/2025
Court: Income Tax Appellate Tribunal, Mumbai Bench
Date: 1/12/2026
Parties Involved
AppellantNarendra Sevantilal (HUF)
RespondentIncome Tax Officer, Ward 25 (3)(1)
Facts Summary
The case involves an appeal by Narendra Sevantilal (HUF) against the order passed by the National Faceless Appeal Centre (NFAC)/Ld. Commissioner of Income Tax (Appeals) for the Assessment Year 2014-15. The Assessee had made an investment of Rs.58,26,070/- in Sunrise Asian Limited. During the original assessment proceedings, the Assessee was asked to prove the source of such investment. The Assessee submitted confirmation to the extent of Rs.32,85,000/- as a loan from a third party but failed to …
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Assessing Officer was justified in reopening the assessment under Section 147 of the Income Tax Act, 1961?
Precedents Relied Upon
3 precedents cited in this judgement.