Virasat Buildcon Pvt. Ltd. Vs Assessment Unit, Income Tax Department
Case No: ITA No. 6607/Del/2025
Court: Income Tax Appellate Tribunal, Delhi Bench ‘B’
Date: 5/25/2026
Parties Involved
appellantVirasat Buildcon Pvt. Ltd.
respondentAssessment Unit, Income Tax Department
Facts Summary
The assessee, Virasat Buildcon Pvt. Ltd., filed a return for A.Y. 2016-17 declaring a loss of Rs.7,499/- on 21.09.2016. Based on information regarding the sale of immovable property available on the Insight portal of the department, the Assessing Officer (AO) issued a notice u/s 148 dated 20.07.2022. The assessment was subsequently completed u/s 147 r.w.s. 144B vide order dated 29.05.2023 at an income of Rs.6,36,95,868/-. The assessee's appeal was dismissed by the Commissioner of Income Tax (App…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the notice u/s 148 was issued without the requisite approval of the PCCIT/CCIT as mandated under section 151(ii) of the Act.
Precedents Relied Upon
2 precedents cited in this judgement.