Principles of estoppel do not apply to Income Tax proceedings
Last updated: 11 February 2023
Court :
ITAT, New Delhi
Brief :
The ITAT, New Delhi in the matter of Bipin Singh Rana v. ACIT [I.T.A. No. 15/DDN/2019 dated January 9, 2023] has held that, principles of estoppel do not apply to Income Tax proceedings and the Revenue Department must keep in mind that the correct income of the assessee must be taxed in the proper Assessment Year and within the limitation prescribed by the Income Tax Act, 1961 ("the IT Act"). Further held that, the Revenue Department must decide matters on merit in accordance with law and not based on the admission or refusal made by the assessee. Remanded the matter back to the Assessing Officer ("AO") with a direction to ignore the surrender made during the assessment proceedings and decide the matter on merit.
Citation :
I.T.A. No. 15/DDN/2019 dated January 9, 2023
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Bimal Jain
Published in Income Tax
Views : 235
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