R Rampuria Consultants Pvt. Ltd. vs. DCIT, Circle-5(1), Kolkata

Parties Involved

Facts Summary

The assessee, R Rampuria Consultants Pvt. Ltd., filed its return of income for the assessment year 2012-13 declaring a total income of Rs. 690. The case was selected for scrutiny through CASS, and a notice under section 143(2) of the Income-tax Act, 1961, was issued on 12.08.2013. Based on the information, the Assessing Officer framed a best judgment assessment under section 144 and added Rs. 1,64,00,000 under section 68 of the Act. Aggrieved by this order, the assessee appealed to the CIT(A), which remitted the matter back to the Assessing Officer for fresh consideration. Dissatisfied, the assessee further appealed to the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the notice under section 143(2) of the Act dated 12.08.2013 is in conformity with CBDT Instruction No.1/2011 dated 31.01.2011.
• 2. Whether the ITO/Assessing Officer had jurisdiction over the assessee to take up the assessment proceedings.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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