Intimation u/s 143(1) cannot be disturbed subject to the reason recorded by AO

Last updated: 09 May 2013

Court :
INCOME TAX APPELLATE TRIBUNAL

Brief :
Brief facts of the case are that assessee was running a proprietary business as whole seller at Nainital. It had filed its return of income declaring total income of Rs. 1,90,000/-. The Assessing Officer, vide order sheet entry dated 19th August, 2009, recorded the following reasons before issuing notice u/s 148 of the Income Tax Act, 1961 as under: - “The examination of ITR it is gathered that the assessee is a whole seller while, he has not submitted any details in P&L accounts as well as in Balance Sheet. He has not disclosed Bank Balance, while he claimed interest for Rs. 11909/-. Turnover of the assessee also not disclosed. Therefore, I have reason to believe that the assessee has not furnished accurate information as in ITR and this is an escapement case.”

Citation :
Mahesh Kumar Arora, 7, Bankey Mansion, Mailital, Nainital. ADJPA4330P (Appellant) Vs. ITO,Nainital. (Respondent)