Sandhya Anil Soni vs. ITO, Ward-2(1), Nashik

Parties Involved

Facts Summary

The assessee, Sandhya Anil Soni, filed an appeal against the order of the Commissioner of Income Tax (Appeals) for Assessment Year 2015-16. The assessee argued that the reassessment proceedings initiated by the issuance of a notice under section 148 on 25/07/2022 were time-barred and void ab initio. The assessee claimed that the income escaping assessment was much below Rs. 50 Lakhs and the deposits made in Renukamata Multi State Urban Co-Op. Credit Society Ltd. represented turnover. The Revenue opposed the contention, relying on the order of the Assessing Officer and the Commissioner of Income Tax (Appeals).…

Legal Issues

• 1. Whether the reassessment proceedings initiated by the issuance of a notice under section 148 on 25/07/2022 for Assessment Year 2015-16 are time-barred and void ab initio?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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