Case Law Details
Sateesh Kumar Vs ITO (Delhi High Court)
Introduction: In a recent judgment, the Delhi High Court addressed a crucial aspect of the Income Tax Act, emphasizing the powers of the Commissioner of Income Tax (Appeals) [CIT(A)] in relation to assessment orders. The case of Sateesh Kumar vs. ITO revolved around the question of whether the CIT(A) possesses the authority to annul an assessment order. This article provides an in-depth analysis of the court’s ruling and its implications.
Detailed Analysis:
1. Background: The case under consideration involves an assessment order passed by the Assessing Officer (AO) under Section 147, read with Section 144 of the Income Tax Act, 1961. This assessment order pertains to Assessment Year (AY) 2016-17 and involves an alleged escaped income of Rs. 30,85,500/-. The petitioner had moved from Quetta in West Pakistan to India and brought cash and jewelry with him, which became the subject of the escaped income assessment.
2. Petitioner’s Claim: The petitioner contested the assessment order, arguing that he had deposited the cash in a bank in India and valued the jewelry as of April 1, 2015. The Assessing Officer added the value of the jewelry to the cash amount, resulting in the alleged escaped income.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
