Case Law Details
Case Name : Dr. Neeta Rajan Modi Vs Income Tax Officer- 11 (3)(1) (ITAT Mumbai)
Related Assessment Year : 2005- 06
Courts :
All ITAT ITAT Mumbai
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Before the issue concerning validity of reopening of assessment is taken up for consideration, the brief facts relevant for disposal of this appeal needs to be noticed. The assessee is a Doctor by profession. She has also purchased and sold shares. For the year under consideration the assessee declared total income of 2,55,066/- on 27.10.2005 and it was processed After a lapse of more than four years, i.e. on 15.03.2011 the AO issued notice under section 148 of the Act on the ground that the assessee has received an income of 1 ,7 1,465/- from M/s. Gold Star Finvest Pvt. Ltd., which was not of...
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An ordinary assessee cannot be expected to keep all records for so many years, unless he has done something to avoid tax, in which case he will take double care to keep the logic of his (self) assessment submission.!