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Case Law Details

Case Name : Satbir Vs ITO (ITAT Delhi)
Related Assessment Year : 2011-12
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Satbir Vs ITO (ITAT Delhi)

Reopening Quashed – AO Recorded Wrong Facts, Wrong AY & Ignored Co-Purchasers; Mechanical 151 Approval Also Invalid

The Assessee appealed against the NFAC order dated 20.02.2024 sustaining reassessment u/s 147/143(3) wherein AO had added ₹78,00,000 as unexplained investment u/s 69 on the allegation that the Assessee purchased a property for ₹78 lakh but registered it for only ₹15

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Author Bio

CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

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