Sapna Rastogi Vs ITO (ITAT Delhi)
Material Facts
The assessee appealed against the order of the National Faceless Appeal Centre dated 11.01.2024, arising from an assessment order passed on 30.03.2022 under Sections 147 read with 144B of the Income-tax Act, 1961. The reassessment proceedings were initiated through a notice under Section 148 dated 30.03.2021 issued by the Income Tax Officer, Ward-1(2)(5), Meerut.
The assessee had filed the return of income for Assessment Year 2013-14 on 07.07.2013 declaring total income of ₹18,85,550. The case was selected for reopening based on information relating to the alleged non-disclosure of profit from the sale of shares of TTK Prestige Ltd. The reassessment resulted in an addition of ₹3,58,56,008 as unaccounted money, and the total assessed income was determined at ₹3,77,41,558.
Procedural History
The assessee challenged the reassessment before the NFAC, which upheld the assessment. The assessee thereafter appealed before the ITAT Delhi, contending that the notice under Section 148 had been issued by an officer who lacked pecuniary jurisdiction under CBDT Instruction No. 1/2011.
During the proceedings before the Tribunal, a report dated 26.06.2024 submitted by the Assessing Officer confirmed that the assessee’s PAN was transferred from the ITO to the ACIT only on 15.05.2024 in accordance with CBDT Instruction No. 1/2011, under which non-corporate returns exceeding ₹15 lakh fall within the jurisdiction of ACIT/DCIT.
