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ITAT Ahmedabad Upholds Reopening on Surrendered PAN
Case Law Details
- Case Name
- Rushabhdev Swetambar Murtipujak Jain Sangh Vs ITO (Exemption) (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Ahmedabad
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Rushabhdev Swetambar Murtipujak Jain Sangh Vs ITO (Exemption) (ITAT Ahmedabad)
Summary: In Rushabhdev Swetambar Murtipujak Jain Sangh vs ITO (Exemption), ITAT Ahmedabad addressed reassessment proceedings under section 147 of the Income-tax Act, 1961, arising from cash deposits totaling Rs. 75,41,227/- recorded under an old PAN (AAATR2081G) that had allegedly been surrendered. The Assessing Officer issued a notice under section 148, completed ex parte assessment under section 144, and added the deposits as unexplained under section 69A. The assessee contended that reassessment ...
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