{"id":50620,"date":"2025-02-03T19:45:45","date_gmt":"2025-02-03T14:15:45","guid":{"rendered":"https:\/\/itatonline.org\/digest\/jagadeesan-mani-v-ito-it-2024-208-itd-641-114-itr-92-sn-mum-trib\/"},"modified":"2025-02-03T19:45:45","modified_gmt":"2025-02-03T14:15:45","slug":"jagadeesan-mani-v-ito-it-2024-208-itd-641-114-itr-92-sn-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/jagadeesan-mani-v-ito-it-2024-208-itd-641-114-itr-92-sn-mum-trib\/","title":{"rendered":"Jagadeesan Mani v. ITO, IT (2024) 208 ITD 641\/114 ITR 92 (SN) (Mum) (Trib.)"},"content":{"rendered":"<p><strong>\u00a0<\/strong>Assessing Officer issued a reassessment notice on ground that assessee had entered into four transactions which included purchase of immovable property, purchase and sale of equity shares and other financial transactions for which assessee had not filed his return of income.Assessing Officer\u00a0 passed draft assessment order determining total income after making addition\/disallowance on short term capital gain and unexplained investment on best judgment assessment for reason that assessee had been non compliant throughout assessment proceeding.\u00a0 Dispute Resolution Panel issued directions rejecting original draft assessment order passed by Assessing Officer for reason that Assessing Officer had reopened assessee&#8217;s case based on erroneous facts and premise which did not relate to assessee\u00a0 Pursuant to direction of Dispute Resolution Panel Assessing Officer passed final assessment order after making an addition as unexplained investment under section 69A. On appeal the Tribunal held that\u00a0\u00a0 order of\u00a0 Assessing Officer in reassessing a case on erroneous facts and on non application of mind had been reprimanded by various decisions of High Courts and Apex Court hence\u00a0 draft assessment order and consequential final assessment order\u00a0 is held to be\u00a0 invalid\u00a0 hence quashed. (AY. 2018-19)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Unexplained Moneys-Non-Resident-Erroneous facts-Reassessment order is quashed.[S.69A, 148, 148A(b)]   <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-50620","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-das","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=50620"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50620\/revisions"}],"predecessor-version":[{"id":50621,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50620\/revisions\/50621"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=50620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=50620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=50620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}