Udaysingh Shankarrao Patil vs. ITO, Ward-1(5), Kolhapur

Parties Involved

Facts Summary

The appellant, Udaysingh Shankarrao Patil, did not file a regular return of income for the assessment year 2012-13. Based on a deposit of Rs.27,40,000/- made by the appellant in the Bank of India, Chuye Karveer, Kolhapur, the Assessing Officer (AO) formed an opinion that income escaped assessment to tax. The AO reopened the assessment by issuing notice u/s.148 of the Income-tax Act, 1961 and made a best judgment assessment u/s.144 r.w.s.147 of the Act, assessing the income at Rs.25,22,500/-. The appellant filed an appeal before the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre (CIT(A)/NFAC) which was dismissed in limine for non-payment of advance tax. The appellant then filed an appeal before the Income Tax Appellate Tribunal (ITAT) against the order of the CIT(A)/NFAC.…

Legal Issues

• 1. Whether the appellant was required to pay advance tax on the basis of assessed tax?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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  Delhi Bench 'D' benchAY 2009-10Partly Allowed