Assessee must give proper explanation of the amount deposited in the Bank account of the assessee or to prove that account not belong to him
Last updated: 24 May 2012
Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
That having regard to the facts and circumstances of the case, Ld. Commissioner of Income Tax (Appeals) has erred in law and on facts in not quashing the impugned assessment order passed by Assessing Officer u/s. 147 that too without the serving the notices u/s. 148 and 143(2) as per law, without obtaining valid approval as prescribed under the law, without recording valid reasons to believe that income has escaped assessment and without complying with the mandatory requirements as prescribed u/s. 147 to 153 in consequence thereto.
Citation :
M/s Adventure Dsigns (P) ltd., C/o M/s RRA Taxindia, D-28, South Extension, Part-I, New Delhi – 110 049 (PAN: AAACA8407C)(Appellant)Vs. Income Tax Officer, Coy.-Ward 1(2), New Delhi (Respondent)
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CS Bijoy
Published in Income Tax
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