Tajinder Singh Kataria v. Income Tax Officer

Parties Involved

Facts Summary

The assessee, Tajinder Singh Kataria, filed his return of income on 29.07.2017, declaring a total income of Rs.2,65,790/-. The case was selected for limited scrutiny due to large value of imports shown in the export data and the filing of a non-business or presumptive business return. The Assessing Officer framed the assessment under section 143(3) of the Act on 04.12.2019 by estimating income at 8% of the total credits in the bank accounts amounting to Rs.31,36,732/-. The assessee appealed against this order to the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi, which was dismissed. The assessee then appealed to the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the order of the NFAC, Delhi dated 15.02.2024 is contrary to law, fact and in circumstances of the case.
• 2. Whether the NFAC, Delhi erred in partly sustaining the addition of Rs.16,14,142/- being 8% of total credits in the bank account of the appellant as income of the appellant in the computation of taxable total income without assigning proper reasons and justification.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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