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Order set aside as AO erroneously added value of transaction for calculating escaped assessment
Case Law Details
- Case Name
- Rishi Bansal Vs ITO (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All High Courts, Delhi High Court
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Rishi Bansal Vs ITO (Delhi High Court)
Delhi High Court held that AO has erroneously added value of transaction while calculating income that could possibly have escaped assessment. Accordingly, order set aside and matter remanded back to AO for fresh consideration.
Facts- The petitioner has filed the present petition, inter alia, impugning an order passed u/s. 148A(d) of the Income Tax Act, 1961 as well as the reopening of the assessment proceedings initiated pursuant to the notice issued u/s. 148 of the Act.
The present petition mainly contested that the assessment proceedings have been init...
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