Vinay Homes Pvt. Ltd. vs DCIT

Parties Involved

Facts Summary

The assessee, Vinay Homes Pvt. Ltd., filed an appeal against the order of the Ld. Commissioner of Income Tax (A)-24, New Delhi, which dismissed the assessee's appeal against the assessment order dated 28.12.2021. The assessment order made additions of INR 4,75,00,000/- towards unexplained credit u/s 68 of the Act and INR 14,25,000/- for unexplained expenditure. The assessee argued that the 'Satisfaction Note' recorded by the AO was defective and did not specifically pertain to the assessee, thus…

Legal Issues

• 1. Invalid assumption of jurisdiction under section 153C
• 2. Defects in the 'Satisfaction Note'

Precedents Relied Upon

5 precedents cited in this judgement.

Judgment Outcome