Sh. Vipul Gupta Vs. DCIT, CC-2, Noida

Parties Involved

Facts Summary

The assessee’s appeal for assessment year 2013-14 arises against the Commissioner of Income Tax (Appeals)-IV [in short, the “CIT(A)”], Kanpur’s order dated 31.10.2018 passed in case no. CIT(A)-IV/10003/DCIT-CC-Noida/2016-17, involving proceedings under section 153C/143(3) of the Income-tax Act, 1961. The learned lower authorities had carried out section 132 search action at the assessee’s premises on 09.10.2013 in M/s. Shubhkamna Buildtech Pvt. Ltd. The learned Assessing Officer, after section 127 “centralization” order dated 23.10.2015, recorded his section 153C satisfaction, followed by his corresponding notice issued on 07.12.2015. This culminated in section 143(3) r.w.s. 153C assessment in the assessee’s case making section 68 unexplained cash credits addition of Rs.50 lakhs which stand upheld in the lower appellate discussion.…

Legal Issues

• 1. Validity of the impugned section 153C assessment

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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