Sh. Bakul Matta Vs. Income Tax Officer, Ward-3, Panipat

Parties Involved

Facts Summary

The assessee, Sh. Bakul Matta, has deposited cash amounting to Rs.99,81,948/- in his savings bank account during the year under consideration. The Assessing Officer initiated proceedings under section 147 of the Income Tax Act, 1961, and issued a notice under section 148. The assessee did not respond, leading to an ex-parte assessment order under section 144. The assessee challenged this order, claiming the reassessment proceedings were illegal as the Assessing Officer did not dispose of the objections raised by the assessee. The Commissioner of Income Tax (Appeals) dismissed the appeal on merit. The assessee appealed to the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the reassessment order passed by the Assessing Officer is valid?
• 2. Whether the appeal of the assessee should be allowed?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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