Shamim Ahmad Vs The I.T.O
Case No: ITA No. 4241/DEL/2024
Court: Income Tax Appellate Tribunal, Delhi ‘G’ Bench
Bench: Delhi ‘G’ Bench
Date: 2/4/2026
Parties Involved
appellantShamim Ahmad
respondentThe I.T.O
Facts Summary
The assessee, Shamim Ahmad, is engaged in the trading of livestock. He filed his return of income on 25.07.2012 declaring an income of Rs. 4,99,507/-. The case was reopened vide notice u/s 148 dated 28.03.2019 and completed u/s 143(3) r.w.s 147 at an income of Rs. 38,56,085/- after making additions of Rs. 33,56,558/- on account of estimation of net profit by applying 2% of the turnover of Rs. 19,53,03,238/- as against the declared N.P. @ 0.28% by the assessee.…
Decision in favour of
Assessee
Legal Issues
- 1. Validity of reopening the assessment under section 147
Precedents Relied Upon
2 precedents cited in this judgement.