SVR Creations Pvt. Ltd. vs. The PCIT
Case No: ITA No.1899/Del/2024
Court: INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH ‘G’: NEW DELHI
Date: 3/5/2025
Parties Involved
appellantSVR Creations Pvt. Ltd.
respondentThe PCIT
Facts Summary
The case involves SVR Creations Pvt. Ltd. challenging the reassessment order passed by the Principal Commissioner of Income Tax (PCIT) for Assessment Year 2016-17. The reassessment was initiated under section 148 of the Income Tax Act, 1961, following the reopening of the assessee's case. The reassessment order accepted the income declared by the assessee. Subsequently, proceedings under section 263 of the Act were initiated by the PCIT, leading to a direction to modify the assessment order. The…
Decision in favour of
Assessee
Legal Issues
- 1. Validity of the initiation of reassessment proceedings under section 148 of the Income Tax Act, 1961.
Precedents Relied Upon
7 precedents cited in this judgement.