TaxTMI 
TaxTMI 
2025 (7) TMI 600
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....order emanated from the order of the Assessment Unit, Income-tax Department (for brevity, the "Ld.AO") passed under section 147 read with section 144B of the Act, date of order 30/03/2023. 2. The revenue has taken the following grounds:- "1. Whether on the facts and circumstances of the case and in law, the Ld.CIT(A) was correct in allowing the appeal of the assessee without obtaining the remand report from the Assessing Officer on the additional evidence furnished by the assessee during the appellate proceedings. 2. Whether on the facts and circumstances of the case and in law, the Ld.CIT(A) as correct in allowing the appeal of the assessee, ignoring the fact that as per Rule 46A of the Income-tax Rule, 1961, the appel....
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.... Fort Branch 00602000044726 HDFC Bank Fort Branch 00600340068647 HDFC Bank Fort Branch 50200021854483 HDFC Bank Fort Branch 50200022788283 ICICI Bank 0041605000323 We have attached herewith copies of Bank statements for the following accounts: 1. HDFC Bank-4726 (01/04/2016-31/03/2017) 2. HDFC Bank-8283 (01/04/2016-31/03/2017 We have submitted the bank statements which were readily available with us and we would like to request your good self to provide us time to collate the remaining bank statements and accordingly we will submit the same at the earliest 1. You are required to furnish copy of ledger of purchases A/c for the period under consideratio....
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....6.2021 after taking necessary approval which was duly served upon the assessee. Several Writ Petitions were filed by certain assessee before the Hon'ble High Courts, challenging the validity of the similar notices u/s 148 of the Act. The respective High Courts decided the writ petitions. Thereafter, matter reached before Hon'ble Supreme Court. The Hon'ble Supreme Court in Civil Appeal No. 3005/2022, vide order dated 04/05/2022 directed as under The impugned Section 148 notices issued to the respective assesses which were issued under unamended Section 148 of the IT Act, which were the subject matter of writ petitions before the various respective High Courts shall be deemed to have been issued under Section 148....
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....Rs. 2,15,83,750/- has escaped assessment in this case for the AY 2017-18. Therefore, it was a fit case for issuance of notice uls 148 of the IT Act, 1961. Accordingly, the order u/s 148A(d) of the IT. Act, 1961 passed and notice u/s 148 of the L.T. Act, 1961 was issued by the JAO on 26.07.2022 after taking necessary approval, which was duly served upon the assessee, in compliance to this notice, the assessee filed income tax return on 27.08.2022 declaring total income of Rs. 1,30,91,370/- and deemed total income u/s 115JB of Rs. 2,29,44,710/- Thereafter, this case has been transferred from the jurisdictional Assessing Officer to the Faceless AO, Assessment Unit on 02.11.2022. Further, in order to complete the assessment proceedings, notices....
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....e the matter without affording an opportunity to the Ld. AO to examine the said documents. Hence, the Ld. DR contended that the impugned appellate order is biased in favour of the assessee. 5. In response, the Ld. AR submitted a paper book containing pages 1 to 29, which has been placed on record. The Ld. AR admitted that the relevant bank statements were not submitted before the Ld. AO but were filed during the appellate proceedings before the Ld. CIT(A). He further submitted that only minimal transactions were recorded in those bank accounts. Based on the verification of those documents, the Ld. CIT(A) allowed the appeal in favour of the assessee. 6. We have heard the rival submissions and perused the material available on record. T....