Seema Singh vs. Income Tax Officer, Ward-1(1), Kolkata

Parties Involved

Facts Summary

The assessee, Seema Singh, was issued a notice under section 148A(b) of the Income Tax Act dated 12.03.2022 by the Income Tax Officer (ITO), Ward-1(1), Asansol, stating that she had not filed her income return for the Assessment Year (AY) 2018-19 despite receiving payments related to the sale and purchase of immovable property. The ITO called upon the assessee to submit documents related to these payments. The assessee did not respond to the notice. Subsequently, the ITO issued a notice under section 148A(d) dated 24.03.2022, stating that the assessee had taxable income and that the income chargeable to tax had escaped to the tune of Rs.39,86,50,000/-. The ITO issued a notice under section 148 of the Act and passed an order under section 148A(d) with the prior approval of the Principal Chief Income Tax Officer (Pr. CIT), Asansol. The assessee was eventually charged an additional Rs.38,38,000/- under section 69 and Rs.49,50,000/- under section 50C of the Act.…

Legal Issues

• 1. Whether the reassessment proceedings initiated by the Assessing Officer (AO) were valid and whether the AO applied his mind to the facts on record.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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