Poonam vs DCIT

Parties Involved

Facts Summary

A search action under section 132 was conducted in the case of Shri Net Ram and his associates, including Late Shri Kshitij Lal, the assessee, on 12-13th March, 2019. The assessee, Sh. Kshitij Lal filed his return for A.Y. 2017-18 on 06.03.2018, declaring an income of Rs. 9,69,440/-. Subsequently, notice under section 153A was issued on 20.01.2020 and, in response, the assessee filed return again declaring income of Rs. 9,69,440/- on 29.01.2020. Assessment was completed under section 153A read with section 143(3) on Ms. Poonam as the Legal Representative of the assessee vide order dated 19.08.2021, making an addition of Rs. 33,85,560/- under section 56(2)(vii) on shares acquired by the assessee. Aggrieved, the assessee preferred an appeal before the Ld. CIT(A) which was dismissed vide order dated 08.08.2025. Aggrieved further, the assessee has filed an appeal before the Tribunal.…

Legal Issues

• 1. Validity of notice under section 153A issued in the name of the deceased assessee.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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