Raghuvir Retailers Pvt. Ltd. vs PCIT-2
Case No: ITA No.919/KOL/2024
Court: Income Tax Appellate Tribunal 'A' Bench, Kolkata
Date: 2/11/2024
Parties Involved
appellantRaghuvir Retailers Pvt. Ltd.
respondentPCIT-2
Facts Summary
The assessee, Raghuvir Retailers Pvt. Ltd., filed its return of income on 28.09.2013 declaring a loss of ₹5,144/-. Subsequently, the case was reopened under section 147 of the Income-tax Act, 1961, based on information alleging receipt of ₹2,01,87,000/- from M/s Sheetal Steel through various intermediary shell companies. The Assessing Officer (AO) made an addition of ₹50,55,000/- as unexplained money under section 69A of the Act. The Principal Commissioner of Income Tax (PCIT) issued a notice un…
Decision in favour of
Assessee
Legal Issues
- 1. Validity of the assessment order under section 147 of the Act due to an unsigned notice under section 148 of the Act.
- 2. Validity of the revisionary order under section 263 of the Act.
Precedents Relied Upon
7 precedents cited in this judgement.