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Reopening of Assessment Beyond Limitation Based on Alleged Bogus Purchases — ITAT Allahabad Allows Assessee’s Appeal in Paras Brick Field (ITA Nos. 13–15/ALLD/2022) | Sections 147, 148, 143(3) of Income-tax Act
Facts of the CaseThe assessee, engaged in the business of running a brick kiln,
filed returns of income for the relevant assessment years. The original
assessments were completed. Subsequently, the Assessing Officer re...
Penalty Proceedings Without Proper Satisfaction Invalid — ITAT Allahabad Deletes Penalty Imposed on Mohammad Rehan Khan | Section 271(1)(c) of Income-tax Act
Facts of the CaseThe assessee, Mohammad Rehan Khan, was subjected to assessment
proceedings wherein certain additions were made to the returned income.
Consequent to these additions, the Assessing Officer initiated pen...
Addition on Estimated Basis Without Proper Evidence Unsustainable — ITAT Allahabad Grants Relief to Savla Agencies | Sections 143(3) & 145 of Income-tax Act
Facts of the CaseThe assessee, Savla Agencies, was engaged in business
activities and maintained regular books of account. During the assessment
proceedings, the Assessing Officer rejected the books of account and proc...
Addition on Jewellery Found During Search — ITAT Allahabad (Concurring Order) Grants Partial Relief; Separate Reasoning by Accountant Member | Sections 132, 69A & 153A of Income-tax Act
Facts of the CaseA search and seizure operation under Section 132 of the
Income-tax Act was conducted at the premises of the assessee. During the
search, jewellery was found and seized. In the assessment proceedings pu...
Addition on Undisclosed Bank Account, Cash Credits and Professional Income — ITAT Allahabad Partly Allows Appeal of Advocate Vijay Gautam | Sections 143(3), 68 & 69A of Income-tax Act
Facts of the CaseThe assessee, an advocate by profession practicing for many
years, filed his return of income declaring professional income and income from
other sources. During scrutiny assessment under Section 143(3...
Unexplained Cash Found During Search & Bank Deposits Upheld as Income — ITAT Allahabad in Smt. Parvati Devi (L/H Late Kamla Devi) vs JCIT (AY 2010-11) [Sections 69, 69A, 69C, 132, 143(3)]
Facts of the
CaseA search and seizure operation under Section 132 of
the Income-tax Act was conducted on 27.08.2009 at the business and residential
premises of the Kesarwani Zarda Bhandar group. During the search, cas...
Neeraj Agrawal v. DCIT (ITAT Allahabad): Additions on Excess Stock, Cash & Unsecured Loans Upheld — Rejection of Books Valid under Sections 145(3), 68, 69B & 133A (AY 2012-13)
Facts of the
CaseThe assessee, proprietor of a jewellery business
dealing in silver and gold ornaments, was subjected to a survey under Section
133A at both head office and branch premises. During the survey, discrepa...
Addition on Unexplained Cash Deposits in Bank Account — ITAT Allahabad Grants Relief to Waseem Ahmad | Sections 68 & 69A of Income-tax Act
Facts of the CaseThe assessee, Waseem Ahmad, was subjected to assessment
proceedings during which the Assessing Officer noticed substantial cash
deposits in the bank account of the assessee. The assessee was required t...
Neeraj Agrawal v. DCIT (ITAT Allahabad): Additions on Excess Stock, Cash, Sundry Creditors & Unsec Valid Rejection of Books after Survey undured Loans —er Sections 133A, 145(3), 68 & 69B (AY 2012-13)
Facts of the
CaseThe assessee, proprietor of M/s Raj Shree
Jewellers, engaged in trading and manufacturing of silver jewellery and trading
in gold jewellery, was subjected to survey proceedings under Section 133A on
...
Penalty u/s 272A(1)(d) Cannot Be Levied for Belated Compliance When Assessment Completed After Considering Reply — ITAT Allahabad in Suresh Kumar vs ACIT
Facts of the
CaseThe assessee, an individual, filed his return
declaring total income of ₹2,69,820 for AY 2017-18. The case was selected for
scrutiny, and notices under Sections 143(2) and 142(1) were issued
electr...