Case Law Details
DCIT Vs Ronak Gems Pvt Ltd (ITAT Mumbai)
In the complex landscape of income tax assessments, the recent decision by the Income Tax Appellate Tribunal (ITAT) Mumbai in the case of DCIT vs. Ronak Gems Pvt Ltd has stirred considerable interest. The case, revolving around the assessment year 2017-18, delves into the intricacies of Section 153A of the Income Tax Act, 1961, raising crucial questions regarding the validity of assessments and the scope of this section concerning undisclosed income and assets detected during a search action.
The ITAT’s careful examination of the appeal, particularly the grounds raised by the Revenue, sheds light on the evolving jurisprudence surrounding Section 153A and its application in the context of unabated assessments and the authority of the Assessing Officer to make additions beyond the confines of incriminating material.
Key Issues Raised by the Revenue:
The appeal brought before the ITAT by the Revenue outlined several key grounds challenging the order of the Ld. Commissioner of Income Tax (Appeals)-48, Mumbai (Ld. CIT(A)). Let’s delve into each of these issues:
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Author Bio
