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HC directs CIT to reconsider assessment to redetermine gross profit applicable to unexplained purchases
Case Law Details
- Case Name
- Sonu Malik Vs Assessing Officer (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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Sonu Malik Vs Assessing Officer (Delhi High Court)
Delhi High Court directed Commissioner of Income Tax (CIT) to re-consider the high-pitched assessment as gross profit applied is 12.5% as against historical gross profit of 1.06%. Coercive measures against the petitioner instructed to be kept on hold.
Facts- This writ petition is directed against the order dated 23.12.2022 passed by the Assessing Officer (AO) under Section 220(6) of the Income Tax Act 1961 [in short “Act”] concerning Assessment Year (AY) 2020-2021.
The impugned order was passed, based on applications dated 11.2022 and 05.1...
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