2025 (9) TMI 1025

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....ommissioner of Income Tax (Appeals)-NFAC. failed to appreciate that none of the conditions precedent existed and/or have been complied with and/or fulfilled by the Ld. Income Tax Officer. Ward 49(1), Kolkata for his alleged assumption of jurisdiction u/s 147 of the Income Tax Act, 1961 in the facts and circumstances of the instant case and the alleged assessment order dated 31-03-2022 passed u/s. 147 of the Act in pursuance to notice dated 31-03-2021 issued u/s 148 of the Act is therefore ab initio void. ultra vires and null in law. 2. FOR THAT the Id. Commissioner of Income Tax (Appeals)-NFAC erred in upholding the validity of the impugned notice dated31-03-2021 issued u/s. 148 of the Income Tax Act, 1961 and the consequential ass....

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....kata without seeking any valid approval required u/s. 151 of the Income Tax Act. 1961 from the competent authority as required under the statute and the purported action on that behalf is thoroughly opposed to law. 6. FOR THAT the Ld. Commissioner of Income Tax (Appeals)-N.F.A.C. acted unlawfully in upholding the purported additions in the amounts of Rs. 5,60,700/- and Rs. 4.65.000/- made by the Id. Income Tax Officer. Ward 49(1). Kolkata alleging unexplained cash credits invoking the provisions of s. 69A read with s. 115BBE of the Income Tax Act, 1961 in the circumstances of the instant case and the specious finding on that issue is absolutely arbitrary. unwarranted, and perverse. 7. FOR THAT the Ld. Commissioner of Incom....

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....igation Wing that the assessee has deposited Rs. 4,67,000/- in his bank account No. 6622000100040 with Kolkata Branch of Karnataka Bank Ltd. Consequently, notice under Section 148 of the Act was issued on 31.03.2021 and the assessee filed return of income on 27.10.2021. Finally, the addition was made of Rs. 10,25,700/- in the cash deposit during demonetization period vide assessment order under Section 147 read with section 144B of the Act dated 31.03.2022. In the appellate proceedings, the CIT(A) dismissed the appeal of the assessee. 5. After hearing the rival submissions and the perusing the material on record including the reasons recorded under Section 148(2) of the Act copy of which is available at page no. 22 of the paper book whic....