Reopening of the assessment u/s 147 of the Income Tax Act,


Quick Summary
This Income Tax Appellate Tribunal case concerns the reopening of an assessment for the 2011-12 financial year under Section 147 of the Income Tax Act. The Assessing Officer made additions for bank deposits and credit card payments. The Commissioner (Appeals) upheld the reopening but reduced the additions, leading to the assessee's further appeal.

Court :
ITAT Visakhapatnam

Brief :
This appeal has been preferred by the assessee against the order dated 21/09/2020 impugned herein passed by the ld.CIT(A)-1, Visakhapatnam u/sec. 250(6) of the Income Tax Act, 1961 (hereinafter referred to as "Act") for the A.Y. 2011-12.

Citation :
I.T.A. No. 210/VIZ/2020

IN THE INCOME TAX APPELLATE TRIBUNAL
VISAKHAPATNAM BENCH, VISAKHAPATNAM

BEFORE SHRI N.K. CHOUDHRY, HON’BLE JUDICIAL MEMBER &
SHRI D.S. SUNDER SINGH, HON'BLE ACCOUNTANT MEMBER

I.T.A. No. 210/VIZ/2020
(Asst. Year : 2011-12)

Kasapu Ramesh Babu,
D.No. 10-38-9, Ramnagar, Visakhapatnam.
PAN No. AUKPK 6318 B
(Appellant)

Vs.

ITO, Ward-1(4)
Visakhapatnam.
(Respondent)

Assessee by : Shri C.Subrahmanyam, CA.
Department by : Shri B.Satyanarayana Raju, Sr.DR

Date of hearing : 02/02/2021.
Date of pronouncement : 12/02/2021.

O R D E R

PER N.K. CHOUDHRY, JUDICIAL MEMBER

This appeal has been preferred by the assessee against the order dated 21/09/2020 impugned herein passed by the ld.CIT(A)-1, Visakhapatnam u/sec. 250(6) of the Income Tax Act, 1961 (hereinafter referred to as "Act") for the A.Y. 2011-12.

2. Brief facts of the case are that the Assessee being an individual filed his return of income for the assessment year under consideration by declaring „NIL‟ income on 31/07/2018 in pursuance to the notice issued u/sec. 148 of the Act. The AO completed the assessment u/sec. 143(3) r.w.s. 147 and made the addition of Rs. 24,40,160/- and 2,45,130/- qua bank deposits and ICICI credit card payments respectively.

3. Being aggrieved, the Assessee preferred first appeal before the ld. CIT(A), who while holding the proceedings u/s 147 of the Act as valid, partly sustained the assessment order by deleting the additions of Rs. 12,20,080/- (out of Rs. 24,40,1601/-) and Rs.2,45,130/- in respect of bank deposits and credit card payments respectively. 

4. The Assessee challenged the impugned order before this Tribunal by raising the following grounds of appeal:-

To know more in details find the attachment file
 

FAQ :

The appeal concerns the validity and outcome of reopening an income tax assessment under Section 147 of the Income Tax Act for the assessment year 2011-12.

The Assessing Officer made additions of Rs. 24,40,160/- for bank deposits and Rs. 2,45,130/- for ICICI credit card payments.

The Commissioner (Appeals) upheld the reopening but partly sustained the assessment order by deleting Rs. 12,20,080/- of the bank deposit additions and the full Rs. 2,45,130/- of the credit card payment additions.

The assessee declared 'NIL' income when filing the return on 31/07/2018, following a notice issued under Section 148 of the Act.

 
downloaded 287 times



Judgement posted by

Guest

Comments




CCI Pro



Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details