ACIT v. Rajesh Jhaveri Stock Broker P. Ltd. v. Rajesh Jhaveri Stock Broker P. Ltd.

7 SCR 765Reported decision#16062 most cited
6

judgments rely on this decision, according to BharatTax’s citation analysis of 341,001 Indian tax judgments — from 2022 to 2022.

Issues it is cited on

section 147(b)fresh tangible materialpermanent account numbersurvey under section 133aviolation of natural justicesection 127specified authoritysection 292bentry operatorsection 132aescapement of incomereason to believe

Judgments citing ACIT v. Rajesh Jhaveri Stock Broker P. Ltd. v. Rajesh Jhaveri Stock Broker P. Ltd.

Khangaram K Dewasi, Mumbai vs. DCIT, CC-2(3), Mumbai

In the result, the appeal

ITA 2807/MUM/2018[2009-10]Status: DisposedITAT Mumbai05 Aug 2022AY 2009-10

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 Mr. Khangaram K. Dewasi, Prop. The Dcit, Central Circle-2(3), Of Shreenathji Metal & Alloys, Mumbai-21 Shop No. 5, Sultan Market, Opp. Vs. Ash Krishna Bldg. Andheri Ghatkoper Road, Sakinaka, Andheri (East), Mumbai-400072. Pan No. Aeepd 8897 C Appellant Respondent Assessee By : Mr. Bharat Kumar, Ar Revenue By : Mr. Ajeya Kumar Ojha, Dr Date Of Hearing : 28/06/2022 Date Of Pronouncement : 05/08/2022

For Appellant: Mr. Bharat Kumar, ARFor Respondent: Mr. Ajeya Kumar Ojha, DR
Section 143(3)Section 147Section 69

…te belief that income escaped that income escaped assessment as held by the Hon’ble Sup s held by the Hon’ble Supreme Court in the case reme Court in the case ACIT v. Rajesh Jhaveri Stock Broker P. Ltd. v. Rajesh Jhaveri Stock Broker P. Ltd. [2007] (7 [2007] (7 SCR 765). Therefore, we reject the contention of the we reject the contention of the Ld. counsel Ld. counsel that the source of information source of information was only a list of suspicious dealers available list of suspicious dealers available on the website of the on the website of the Sales-tax Department of Maharashtra Department of Maharashtra Gover…

Khangaram K. Dewasi, Mumbai vs. DCIT- CC-2(3), Mumbai

In the result, the appeal

ITA 2806/MUM/2018[2008-09]Status: DisposedITAT Mumbai05 Aug 2022AY 2008-09

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 Mr. Khangaram K. Dewasi, Prop. The Dcit, Central Circle-2(3), Of Shreenathji Metal & Alloys, Mumbai-21 Shop No. 5, Sultan Market, Opp. Vs. Ash Krishna Bldg. Andheri Ghatkoper Road, Sakinaka, Andheri (East), Mumbai-400072. Pan No. Aeepd 8897 C Appellant Respondent Assessee By : Mr. Bharat Kumar, Ar Revenue By : Mr. Ajeya Kumar Ojha, Dr Date Of Hearing : 28/06/2022 Date Of Pronouncement : 05/08/2022

For Appellant: Mr. Bharat Kumar, ARFor Respondent: Mr. Ajeya Kumar Ojha, DR
Section 143(3)Section 147Section 69

…te belief that income escaped that income escaped assessment as held by the Hon’ble Sup s held by the Hon’ble Supreme Court in the case reme Court in the case ACIT v. Rajesh Jhaveri Stock Broker P. Ltd. v. Rajesh Jhaveri Stock Broker P. Ltd. [2007] (7 [2007] (7 SCR 765). Therefore, we reject the contention of the we reject the contention of the Ld. counsel Ld. counsel that the source of information source of information was only a list of suspicious dealers available list of suspicious dealers available on the website of the on the website of the Sales-tax Department of Maharashtra Department of Maharashtra Gover…

Khangaram K. Dewasi, Mumbai vs. DCIT, CC-2(3), Mumbai

In the result, the appeal

ITA 2805/MUM/2018[2010-11]Status: DisposedITAT Mumbai05 Aug 2022AY 2010-11

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 Mr. Khangaram K. Dewasi, Prop. The Dcit, Central Circle-2(3), Of Shreenathji Metal & Alloys, Mumbai-21 Shop No. 5, Sultan Market, Opp. Vs. Ash Krishna Bldg. Andheri Ghatkoper Road, Sakinaka, Andheri (East), Mumbai-400072. Pan No. Aeepd 8897 C Appellant Respondent Assessee By : Mr. Bharat Kumar, Ar Revenue By : Mr. Ajeya Kumar Ojha, Dr Date Of Hearing : 28/06/2022 Date Of Pronouncement : 05/08/2022

For Appellant: Mr. Bharat Kumar, ARFor Respondent: Mr. Ajeya Kumar Ojha, DR
Section 143(3)Section 147Section 69

…te belief that income escaped that income escaped assessment as held by the Hon’ble Sup s held by the Hon’ble Supreme Court in the case reme Court in the case ACIT v. Rajesh Jhaveri Stock Broker P. Ltd. v. Rajesh Jhaveri Stock Broker P. Ltd. [2007] (7 [2007] (7 SCR 765). Therefore, we reject the contention of the we reject the contention of the Ld. counsel Ld. counsel that the source of information source of information was only a list of suspicious dealers available list of suspicious dealers available on the website of the on the website of the Sales-tax Department of Maharashtra Department of Maharashtra Gover…

M/S. Paras Plastic Processors, Mumbai vs. Income Tax Officer Ward-27(2)(5), Mumbai

In the result, the appeal of the assessee is dismissed

ITA 5593/MUM/2019[2010-11]Status: DisposedITAT Mumbai27 Jul 2022AY 2010-11

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2010-11 M/S Paras Plastic Processors, Income Tax Officer 806/807, Ajit Nath, Ward-27(2)(5), Nilkantha Enclave, Ajit Nagar, Vs. Vashi, Opp. Shreyash Cinema, Navi Mumbai-400-703. Lbs Marg, Ghatkopar (West), Mumbai-400086. Pan No. Aaefp 8206 H Appellant Respondent

For Appellant: Mr. M. Subramanian, ARFor Respondent: Ms. Smita Nair, DR
Section 143(1)Section 143(3)Section 147Section 148

…tted that in view of the decision of the Hon’ble Mumbai. He submitted that in view of the decision of the Hon’ble Supreme Court in the case of Supreme Court in the case of ACIT v. Rajesh Jhaveri Stock Broker ACIT v. Rajesh Jhaveri Stock Broker P. Ltd. [2007] (7 SCR 765) SCR 765) for reopening of the assessment, for reopening of the assessment, it is sufficient if a reasonable person can sufficient if a reasonable person can form requisite belief on the form requisite belief on the basis of the relevant material. He accordingly submitted that basis of the relevant material. He accordingly submitted that basis of t…

Income Tax Officer 8(3)(3), Mumbai vs. M/S.Vibgyor Texotech Private Limited, Mumbai

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

ITA 1484/MUM/2018[2009-10]Status: DisposedITAT Mumbai29 Apr 2022AY 2009-10

Bench: Shri Amarjit Singh () & Shri Om Prakash Kant () Assessment Year: 2009-10 Income Tax Officer-8(3)(3), M/S Vibgyor Texotech Pvt. Ltd., Room No. 616, 6Th Floor, Aayakar 309, Navyug, T.J. Road, Sewree, Bhavan, M.K. Road, Vs. Mumbai-400015. Mumbai-400020. Pan No. Aaccv 0752 D Appellant Respondent Assessment Year: 2009-10 M/S Vibgyor Texotech Pvt. Ltd., The Asst. Commissioner Of 309, Navyug, T.J. Road, Sewree, Income Tax-8(3)(2), Mumbai-400015. Vs. Mumbai. Pan No. Aaccv 0752 D Appellant Respondent

For Appellant: Mr. Pavan Ved, ARFor Respondent: Mr. Achal Sharma, CIT-DR/
Section 10ASection 143(2)Section 143(3)Section 144Section 148Section 264ASection 40

…gyor Texotech Pvt. Ltd. 14. In our opinion, these arguments of the Ld. counsel are devoid of any merit. As far as recording of reasons is concerned in terms of finding of Hon’ble Supreme Court in the case of ACIT v. Rajesh Jhaveri Stock Broker P. Ltd. [2007] (7 SCR 765) that at the initiation stage, what is required is reason to believe but not the established fact of escapement of income. At the stage of issue of notice, the only question is whether there was relevant material on which a reasonable person could have formed a requisite belief. Whether the materials could conclusively prove the escapement is not t…

M/S.Vibgyor Texotech Private Limited, Mumbai vs. ACIT-8(3)(2), Mumbai

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

ITA 487/MUM/2019[2009-10]Status: DisposedITAT Mumbai28 Apr 2022AY 2009-10

Bench: Shri Amarjit Singh () & Shri Om Prakash Kant () Assessment Year: 2009-10 Income Tax Officer-8(3)(3), M/S Vibgyor Texotech Pvt. Ltd., Room No. 616, 6Th Floor, Aayakar 309, Navyug, T.J. Road, Sewree, Bhavan, M.K. Road, Vs. Mumbai-400015. Mumbai-400020. Pan No. Aaccv 0752 D Appellant Respondent Assessment Year: 2009-10 M/S Vibgyor Texotech Pvt. Ltd., The Asst. Commissioner Of 309, Navyug, T.J. Road, Sewree, Income Tax-8(3)(2), Mumbai-400015. Vs. Mumbai. Pan No. Aaccv 0752 D Appellant Respondent

For Appellant: Mr. Pavan Ved, ARFor Respondent: Mr. Achal Sharma, CIT-DR/
Section 10ASection 143(2)Section 143(3)Section 144Section 148Section 264ASection 40

…gyor Texotech Pvt. Ltd. 14. In our opinion, these arguments of the Ld. counsel are devoid of any merit. As far as recording of reasons is concerned in terms of finding of Hon’ble Supreme Court in the case of ACIT v. Rajesh Jhaveri Stock Broker P. Ltd. [2007] (7 SCR 765) that at the initiation stage, what is required is reason to believe but not the established fact of escapement of income. At the stage of issue of notice, the only question is whether there was relevant material on which a reasonable person could have formed a requisite belief. Whether the materials could conclusively prove the escapement is not t…

ACIT v. Rajesh Jhaveri Stock Broker P. Ltd. v. Rajesh Jhaveri Stock Broker P. Ltd. (7 SCR 765) — Cited in 6 Judgments | BharatTax