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AIR Additions Without Disclosure Invalid; Assessment Remanded for Fresh Hearing
Case Law Details
- Case Name
- Bobby Yogendra Sharma Vs ACIT/ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Mumbai
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Bobby Yogendra Sharma Vs ACIT/ITO (ITAT Mumbai)
AIR-Based Additions Made Without Sharing Underlying Data—Ex-Parte 147/144 Set Aside; AO Directed to Provide Full AIR Particulars & Re-do Assessment
The Assessee challenged the NFAC order dated 04.08.2023 arising from an ex-parte reassessment u/s 147 r.w.s. 144, wherein the AO treated ₹12.08 crore as undisclosed income based solely on Annual Information Return (AIR) entries.
Facts & Additions
The AO noted multiple AIR-reported transactions and, without receiving any explanation from the Assessee, added the entire agg...
Author Info
