CHANDIGARH ROYALE CITY PROMOTERS PRIVATE LIMITED, CHANDIGARH,CHANDIGARH vs. JAO DCIT/ACIT/JCIT (OSD) CENTRAL CIRCLE-1, CHANDIGARH, CHANDIGARH

ITA 1270/CHANDI/2025Status: DisposedITAT Chandigarh10 March 2026AY 2021-2022Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं . / ITA No. 1269 To 1272/Chd/2025 निर्धारण वर्ष / Assessment Year : 2020-21 Το 2023-24 Chandigarh Royale City Promoters बनाम JAO DCIT/ACIT/JCIT (OSD) Central Private Limited, Circle-1, Chandigarh-160017 SCO-44, Sector-20C, Chandigarh स्थायी लेखा सं./ PAN NO: AAECC3999H अपीलार्थी/Appellant प्रत्यर्थी / Respondent आयकर अपील सं. / ITA No. 1273 Το 1275/Chd/ 2025 निर्धारण वर्ष / Assessment Year : 2020-21, 2021-22 & 2023-216 pages
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What did the Tribunal hold?

The Tribunal held that the net profit rate applied by the CIT(A) was excessive and directed the application of a 5% net profit rate on unaccounted receipts, considering the seized records.

What were the facts?

The assessee, engaged in real estate business, had unaccounted receipts and expenses found during a search operation. The Assessing Officer (AO) rejected the books of accounts and applied a net profit rate, while the Commissioner (Appeals) reduced it.

What were the issues?

The primary issues were the correctness of the net profit rate applied to unaccounted receipts and the validity of reassessment proceedings initiated under Section 148.

Which sections of the Income-tax Act were involved?

Section 148,Section 144B,Section 151A

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Cases cited in this judgment(4)Show list

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Income Tax Appellate Tribunal, CHANDIGARH BENCH “A”, CHANDIGARH

Before: SHRI. RAJPAL YADAV, VP & SHRI. KRINWANT SAHAY, AM

For Appellant: Shri Sudhir Sehgal, Advocate
Hearing: 25/02/2026Pronounced: 10/03/2026

PER KRINWANT SAHAY, AM:

Following appeals have been filed by the assessee where all such cases b

The order continues below.

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