Case Law Details
Case Name : Prabhakar Reddy Basireddy Vs DCIT (ITAT Hyderabad)
Related Assessment Year : 2020-21
Courts :
All ITAT ITAT Hyderabad
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Prabhakar Reddy Basireddy Vs DCIT (ITAT Hyderabad)
Background & Facts
A search under section 132 was conducted in the case of the assessee on 04.01.2023. Pursuant thereto, the Jurisdictional Assessing Officer (ACIT, Central Circle-1(1), Hyderabad) issued a notice under section 148 on 29.11.2023 and completed reassessment under section 147 on 26.03.2025. The reassessment resulted in estimated additions, including profit estimation on sheep sales and disallowance under section 80C. The CIT(A) upheld the reassessment.
Before the ITAT, the assessee ra
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Author Bio
matter is still to be elaborated by the high courts other benches of tribunals there one decesion of chandigarhbench