Case Law Details
Prem Kumar Chopra Vs ACIT (Delhi High Court)
Delhi High Court held that when two contradictory final outcomes is delivered vide two different orders, the reasoned outcome based on analysis of material prevails over outcome without an iota of reason.
Facts- The petitioner, a senior citizen, being the proprietor of M/s Chopra Brothers is an authorized dealer for Kirloskar Electric Motors and is engaged in trading of industrial electric motors, mono-block pumps and generator sets etc.
For the A.Y. 2015-16, petitioner filed return of his income, declaring the same to be Rs. 19,94,970/-, which was processed u/s. 143(1) of the Income Tax Act, 1961. On 07.04.2021, respondent no. 1 issued notice u/s. 148 of the Act, which on being challenged by the petitioner, was set aside in terms ofthe decision in the case of Mon Mohan Kohli vs CIT, (2021).
Thereafter, in terms with the decision of the Hon’ble Supreme Court in the case of Union of India vs Ashish Aggarwal, 2022 SCC OnLine SC 543, respondent issued notice dated 26.05.2022 u/s. 148A(b) of the Income Tax Act, alleging that on 26.11.2016 a search had been conducted in the premises of an entry operator, namely Shri Mohit Garg and during that search, in his statement Shri Rajeev Khushwaha admitted having provided bogus sale/purchase bills in exchange for cash; and that during the year relevant to the assessment year 2015-16, M/s Chopra Brothers through its proprietor Shri Prem Kumar Chopra was one of the beneficiaries of such accommodation entries to the tune of Rs. 13,71,00,000/-.
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