Principles of estoppel not apply to Income Tax proceedings

Bipin Singh Rana Vs ACIT (ITAT Dehradun) The ITAT, Dehradun in the matter of Bipin Singh Rana v. ACIT [I.T.A. No. 15/DDN/2019 dated January 9, 2023] has held that, principles of estoppel do not apply to Income Tax proceedings and the Revenue Department must keep in mind that the correct income of the assessee must be taxed in the proper Assessment Year and within the limitation prescribed by the Income Tax Act, 1961 (“the IT Act”). Further held that, the Revenue Department must decide matters on merit in accordance with law and not based on the admission or refusal made by the assessee. Re...