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

Assistant Commissioner of Income Tax, Central Circle-1, Guwahati vs. Abci Infrastructures Private Limited, Kolkata

In the result, the appeal of the assessee is allowed, whereas the appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

…ITA No. 40/GAU/2022 Assessment Year: 2013-2014 & Assessment Year: 2013-2014 ABCI Infrastructure Pvt. Limited IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA-GUWAHATI ‘e-COURT’, KOLKATA [Virtual Court Hearing] Before Shri Rajpal Yadav, Vice-President (KZ) & Dr. Manish Borad, Accountant Member I.T.A. No. 40/GAU/2022 Assessment Year: 2013-2014 ABCI Infrastructure Pvt. Limited,............ Appellant 6th Floor, Vasundhara, 2/7, Sarat Bose Road, Bhowanipore, Kolkata-700020 [PAN:AACCM3317R] -Vs.- Assistant Commissioner of Income Tax,....Respondent Circle-1, Guwahati, Aayakar Bhawan, Christian Basti, G.S.Road, Guwahat…

Abci Infrastructures Private Limited, Kolkata vs. Assistant Commissioner of Income Tax, Central Circle-1, Guwahati

In the result, the appeal of the assessee is allowed, whereas the appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

…ITA No. 40/GAU/2022 Assessment Year: 2013-2014 & Assessment Year: 2013-2014 ABCI Infrastructure Pvt. Limited IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA-GUWAHATI ‘e-COURT’, KOLKATA [Virtual Court Hearing] Before Shri Rajpal Yadav, Vice-President (KZ) & Dr. Manish Borad, Accountant Member I.T.A. No. 40/GAU/2022 Assessment Year: 2013-2014 ABCI Infrastructure Pvt. Limited,............ Appellant 6th Floor, Vasundhara, 2/7, Sarat Bose Road, Bhowanipore, Kolkata-700020 [PAN:AACCM3317R] -Vs.- Assistant Commissioner of Income Tax,....Respondent Circle-1, Guwahati, Aayakar Bhawan, Christian Basti, G.S.Road, Guwahat…

Commissioner of Income Tax (Exemptions) vs. M/S. Roland Educational and Charitable Trust

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE MURAHARI SRI RAMAN

Principal Commissioner of Income Tax 1 vs. Parbati Mohapatra

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE MURAHARI SRI RAMAN

DCIT Khandwa, Khandwa vs. M/S Rajrajeshwar Cotton Corporation, Sendhwa

In the result, Revenue’s appeal as well as Assessee’s Cross-

Bench: Shri Siddhartha Nautiyal & Shri B.M. Biyani(Conducted Through Virtual Court) & C.O. No. 9/Ind/2020 Assessment Year: 2011-12 Dcit M/S Raj Rajeshwar Cotton Khandwa Corporation, बनाम/ Warla Road, Sendhwa, Vs. District - Khandwa (Appellant / Revenue) (Respondent / Assessee) Pan: Aagfr 6243 N Assessee By None Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 12.10.2022 Date Of Pronouncement 21.10.2022

…s to be presumed [hat there 1S no independent application of mind by the AO to the tangible material which forms the basis of the reason to believe that income has escaped assessment. The Hon'ble Delhi High Court in the case of CIT vs G (ii) & G Pharma (2015) 384 ITR 147 [Del.] wherein the Hon'ble Bench had dealt with a similar instance of reopening of assessment by the AO on the basis of report of DIT(I) without making any effort to discuss the material on the basis of which such belief was formed and the reopening was held invalid by the court. (iii) The Hon'ble Bench of ITAT, Lucknow Bench had given their deci…

Mesers Shree Bhagwati Cotton Traders, Bathinda vs. Income Tax Officer, Ward 1 (2), Bathinda

In the result, the appeal of the assessee bearing ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

…placed before the ld. AO and ld. CIT(A). Both had not considered the issue during the adjudication. The ld. Counsel further submitted the catena of judgment which is as below: I.T.A. No. 479/Asr/2018 9 &I.T.A. No. 480/Asr/2018 (i) PCIT Vs G & G Pharma Ltd,384 ITR 147 (DEL), in which, it has been held as under: - “Without forming a prima facie opinion, on the basis of such material, it was not possible for him to have simply concluded that it was evident that the assessee company has introduced its own unaccounted money in its bank by way of accommodation entries. The basic jurisdictional requirement was appli…

Income Tax Officer, Ward 1 (2), Bathinda vs. Mesers Shree Bhagwati Cotton Traders, Bathinda

In the result, the appeal of the assessee bearing ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

…placed before the ld. AO and ld. CIT(A). Both had not considered the issue during the adjudication. The ld. Counsel further submitted the catena of judgment which is as below: I.T.A. No. 479/Asr/2018 9 &I.T.A. No. 480/Asr/2018 (i) PCIT Vs G & G Pharma Ltd,384 ITR 147 (DEL), in which, it has been held as under: - “Without forming a prima facie opinion, on the basis of such material, it was not possible for him to have simply concluded that it was evident that the assessee company has introduced its own unaccounted money in its bank by way of accommodation entries. The basic jurisdictional requirement was appli…

Measage Bhai Industries Private Limited, Moga vs. Income Tax Officer Ward-1, Moga

Appeal of the assessee is allowed

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

…ernational Pvt. Ltd. in ITA No. 181/Asr/2017 of Hon’ble ITAT, Amritsar Bench, Amritsar. The copy of the judgment is placed in the judgment set pages 52 to 66. II. Judgment in the case of Principal Commissioner of Income Tax-4 vs. G & G Pharma Ltd. reported in 384 ITR 147 of Hon’ble Delhi High Court. The copy of the judgment is placed in the judgment set pages 46 to 51 12 Bhai Industries Pvt. Ltd. v. ITO III. Judgment in the case of Signature Hotels Pvt. Ltd. vs. ITO and Anr (2011) 338 ITR 51 of Hon’ble Delhi High Court, IV. Judgment in the case of Sh. Gopal Sharan vs. Ito in ITA no. 51/Asr/2012 dated 05.09.2012…

The Income Tax Officer -1, Raigarh, Raigarh(Cg) vs. Shri Shri Parmanand Gupta, Raigarh, Raigarh(Cg)

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 82/Rpr/2017 Co. No. 02/Rpr/2022 "नधा"रण वष" / Assessment Year : 2008-09 The Income Tax Officer-1, Raigarh (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. Shri Parmanand Gupta, Alochan Agrawal, L/H. Of Late Shri Parmanand Gupta, Prop. M/S. Balaji Handloom, 19/48, Palace Road, Raigarh (C.G.) Pan : Afdpg4961L ……""यथ" / Respondent

…and the formation of the belief or the reason to believe that the income of the assessee chargeable to tax had escaped assessment. Also, a similar viewwas earlier taken by the Hon’ble High Court of Delhi in the case of PCIT Vs. G & G Pharma India Ltd. (2016) 384 ITR 147 (Del). In the case before the Hon’ble High Court, it was 21 ITO-1 Vs. Shri Parmanand Gupta CO No.02/RPR/2022 observed that the A.O in his reasons to believe after setting out four entries which were 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,…

Shri Navdeep Sood, Hoshiarpur vs. Income Tax Officer Ward- 3, Hoshiarpur

In the result, the appeal of the assessee is partly allowed

Bench: Shri Kul Bharat[Assessment Year : 2011-12] Navdeep Sood, Vs Ito, S/O-Jyoti Bhusan Sood, Ward-3, Jaijon Doaba, Garhshankar, Hoshiarpur. Hoshiarpur, Punjab-144530. Pan-Bozps8638J

…4) Hindustan Lever Ltd. vs. R.B. Wadkar 137 Taxman 479 Bom Bombay High Court (Enclosed at page 97 to 104) B) Reopening is bad when there is no application of independent mind by A.O as per the following case laws 1) Pr. CIT vs. G & G Pharma India Ltd. (2016) 384 ITR 147 (Delhi) (Enclosed at page 105 to 110) 2) Karanvir Verma vs. ITO (2016) 61 IT Reps 428 (ITAT, Asr) (Enclosed at page 111 to 116) 5 | Page C) If we reduce the figure of Rs. 40000/-out of the total figure of cash deposit, then the whole addition will be liable to be deleted 3) AASH Trading Co. Pvt. Ltd. vs. ITO ITAT, Delhi Bench Ground No. 2 1. Th…