222 Taxman 15 (Gujarat)(MAG.), Principal Commissioner of Income-tax-4 v. G & G Pharma India Ltd.

M/S Deora Electric Works, Allahabad vs. Dy. Commissioner of Income Tax, Circle -1, Allahabad

In the result, both appeals i

…India 320 ITR 561 (SC) ii. Shri Ram Builders vs. ACIT, OSD 2015 377 ITR 631 (Gujarat). iii. N.K. Roadways Private Limited vs. ITO, OSD 2014 362 ITR 522 (Gujarat). iv. P.C. Patel and Co. vs. DCIT (2015) 379 ITR 151 (Gujarat). v. PCIT vs. G & G Pharma Ltd, 2016 384 ITR 147 (Delhi). Accordingly, he prayed that on the basis of the aforesaid, the assessment framed against the assessee under section 147 / 143(3) was not correct and it was liable to be annulled. In arguing against the Departmental appeal, ld. AR submitted on the merits of the matter, that the ld. CIT(A) had clearly pointed out that the ld. AO had failed…

Dy. Commissioner of Income Tax, Circle -1, Allahabad vs. M/S Deora Electric Works, Allahabad

In the result, both appeals i

…India 320 ITR 561 (SC) ii. Shri Ram Builders vs. ACIT, OSD 2015 377 ITR 631 (Gujarat). iii. N.K. Roadways Private Limited vs. ITO, OSD 2014 362 ITR 522 (Gujarat). iv. P.C. Patel and Co. vs. DCIT (2015) 379 ITR 151 (Gujarat). v. PCIT vs. G & G Pharma Ltd, 2016 384 ITR 147 (Delhi). Accordingly, he prayed that on the basis of the aforesaid, the assessment framed against the assessee under section 147 / 143(3) was not correct and it was liable to be annulled. In arguing against the Departmental appeal, ld. AR submitted on the merits of the matter, that the ld. CIT(A) had clearly pointed out that the ld. AO had failed…

Shankar Construction, Panchgachia vs. ITO, Ward-3(1), Purnea

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav, Vice- & Shri Rajesh Kumari.T.A. No. 565/Pat/2024 Assessment Year: 2016-2017 Shankar Construction,………………..…….……Appellant Panchgachia, Panchgachia-852124, Bihar [Pan:Abofs0800R] -Vs.- Income Tax Officer,………………….……..……Respondent Ward-3(1), Purnea, Bihar Appearances By: Shri S.K. Tulsiyan, Advocate, Appeared On Behalf Of The Assessee Shri Ashok Kumar, Cit (Dr), Appeared On Behalf Of The Revenue Date Of Concluding The Hearing: October 22, 2024 Date Of Pronouncing The Order: November 18, 2024 O R D E R

…s well settled. There is no substantial question of law which arises for our consideration. Reliance is also place in the decision of the Hon'ble Delhi High Court in the case of Pr. Commissioner of Income Tax-4 vs. G and G Pharma India Ltd. reported in [2016] 384 ITR 147 (Delhi), wherein it was held the following: "12. In the present case, after setting out four entries, stated to have been received by the Assessee on a single date i.e. 10th February 2003, from four entities which were termed as accommodation entries, which information was given to him by the Directorate of Investigation, the AO stated: "I have a…

Nilima Kothari, Indore vs. The Income Tax Officer, National Faceless Asstt. Centre, Indore

In the result appeal of the assessee is allowed as per terms indicated above

Bench: Shri Manish Boradsmt. Neelima Kothari, Income Tax Officer, 601, N.R.K. Villas, Delhi Vs. 22/2 Manoramaganj, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Adnpk7832J Assessee By Shri S.S. Deshpande, Ar Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 08.08.2024 Date Of Pronouncement 20.09.2024

…Officer has power to reopen an assessment, `provided there is “tangible material” to come to the conclusion that there was escapement of income from assessment. Reason must have a link with the formation of the belief. iii)Pr. CIT vs. G. Pharma (I) Ltd (2017) 384 ITR 147 (Del.) iv)CIT vs. Insecticides (I) Ltd (2013) 357 ITR 300 (Del.) v)Durga Prasad Goyal Vs. ITO (2006) 98 ITD 227 (Asr)(SB), vi) ACIT vs. Dhariya Construction Co. (2010) 328 ITR 515 (SC) vii) Pr. CIT vs. Laxman Industrial Resources (2017) 397 ITR 106 (Del) HELD “Without forming a prima facie opinion, on the basis of such material, it was not possi…