Shri Dharminder Sethi vs The ITO, Ward 2(1), Amritsar

Parties Involved

Facts Summary

The assessee, Shri Dharminder Sethi, filed an appeal against the order passed by the Commissioner of Income Tax (Appeals) for the assessment year 2016-17. The assessee challenged the addition of ₹29,31,965/- made by the Assessing Officer under section 68 of the Income-tax Act, 1961. The assessee contended that the sale consideration of shares was explained and that the reassessment proceedings were invalid as the notice was issued beyond the statutory period and by an unauthorized authority. The assessee also disputed the reassessment proceedings' validity based on the Supreme Court's judgment in Union of India v. Ashish Agarwal.…

Legal Issues

• 1. Validity of the reassessment notice issued under section 148
• 2. Whether the reassessment proceedings can continue if the notice is invalid

Judgment Outcome

Decided in favour of Assessee.

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