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INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH)
Shri Manish Agarwal, AM, Shri Mahavir Singh, VP
Assessee – Appellant
Versus
Ld. Commissioner of Income Tax (A)-30, New Delhi – Respondent
| Table of Content |
|---|
| 1. the assessment was made based on alleged undisclosed income from the sale of property. (Para 2 , 3) |
| 2. the reliance on materials from another party's search changes the applicable assessment sections. (Para 7 , 10) |
| 3. the court determined incorrect jurisdiction was used in assessment, leading to its quashing. (Para 11 , 12 , 13) |
ORDER
PER MANISH AGARWAL, AM :
The present appeal is filed by the assessee against the order dated 31.01.2024 of Ld. Commissioner of Income Tax (A)-30, New Delhi [“Ld.CIT(A)”] in Appeal No.10146/2020-21 passed u/s 250 of the Income Tax Act, 1961 [“the Act”] arising from the assessment order dated 30.12.2022 passed u/s 143(3) of the Act pertaining to assessment year 2020-21.
2. Brief fact of the case are that the assessee is an individual, having income from salary and interest income and filed his return of income on 10.01.2022, declaring income of INR 5,46,580/-. The assessment was selected for scrutiny by way of issue of notice on 30.06.2022 and after considering the submissions of the assessee and also placing reliance on the material found during the course of search carried out on M/s. Jainco Ltd. on 06.01.2021, an addition of INR 62,00
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