CPC Bengaluru’s Rs. 16 Lakh Addition Struck Down – ITAT Finds No Jurisdiction Under Section 143(1)

Suman Sehrawat Vs ITO (ITAT Delhi) Facts: The assessee, Suman Sehrawat, declared a total income of ₹17,23,160 for AY 2017-18, including ₹30,00,000 received from M/s MSG AII Trading International Pvt. Ltd., offered under “Income from Other Sources.” A tax deduction of ₹9,00,000 was made on this amount under Section 194B, as reflected in Form 26AS. The assessee claimed expenses of ₹16,04,850 related to the said income, classifying it as income from an organized adventure in the nature of trade/game. Issues: 1.Whether the adjustment under Section 143(1)(a)(vi) was beyond the ...