2016 (11) TMI 1181 - HC - Income Tax

Court Allows Condonation of Delay in Filing Appeal, Dismisses Appeal for Lack of Substantial Question of Law

Kailash Chand Gupta Versus Assistant Commissioner of Income Tax, Kota

Kailash Chand Gupta Versus Assistant Commissioner of Income Tax, Kota - TMI Issues:Delay in filing appeal and condonation of delay under Section 5 of Limitation Act; Validity of reassessment proceedings under Section 147/148; Challenge to the order of Assessing Officer; Appeal before Commissioner of Income Tax (Appeals) and ITAT; Review of concurrent findings of fact.Delay in filing appeal and condonation of delay under Section 5 of Limitation Act:The judgment addressed a delay of 6 days in filing the appeal, for which a separate application was filed seeking condonation of delay under Section 5 of the Limitation Act. The court, after hearing the appellant's counsel, was satisfied with the explanation provided for the delay and accordingly allowed the application for condonation of delay.Validity of reassessment proceedings under Section 147/148:The appellant-assessee filed the return of income for the assessment year 2003-2004, following which a notice under Section 148 was issued after recording reasons. The assessee submitted an application to treat the original return as filed under Section 148. Subsequently, notices under Sections 143(2) and 142(1) were served on the assessee. The proceedings were initiated based on the revelation that the assessee received a gift of Rs. 5.00 lacs in the assessment year 2003-04. Despite the assessee's objections, the Assessing Officer found the justification unsatisfactory, leading to the conclusion that the gift received by the assessee was not genuine.Challenge to the order of Assessing Officer; Appeal before Commissioner of Income Tax (Appeals) and ITAT:The order of the Assessing Officer, which deemed the gift received by the assessee as not genuine, was challenged by the assessee before the Commissioner of Income Tax (Appeals). The Commissioner upheld the Assessing Officer's view, leading to a further appeal before the ITAT. The ITAT confirmed the findings of the lower authorities, emphasizing the lack of satisfactory explanation from the assessee regarding the gift. The appellant's counsel contended for a review of the concurrent findings of fact, but the court did not find any substantial question of law for consideration, resulting in the dismissal of the appeal.Review of concurrent findings of fact:The court, upon reviewing the order of the ITAT and considering the arguments presented by the appellant's counsel, concluded that there was no substantial question of law arising from the appeal that warranted their consideration. As a result, the appeal was dismissed.