S. N. Arora-Sapra vs Income Tax Officer

Authority: ITAT Tribunal/Court: Delhi Date: 2020-01-30 AY: 2006-07, 2007-08 Section: 147, 148 Acts: Income Tax Act 1961 Result: Assessee Citation: (2020)58 CCH 0089 DelTrib (2020)204 TTJ 0137 (Del): (2020)187 DTR 0121 (Del)(Trib) Justices: BHAVNESH SAINI, JM & O.P. KANT, AM. Appeal No: ITA Nos. 4251 & 4252/Del./2018
Whether reassessment proceedings under sections 147/148 were valid when based on unverified information from the Investigation Wing and contained factual errors in recorded reasons --- Held No, quashed. Whether cash deposits in bank accounts and property investments constituted unexplained income under sections 68/69 --- Not adjudicated on merits as reassessment was quashed.

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