What is ACIT v. Rajesh Jhaveri Stock Brokers Pvt. Ltd. authority for?

For initiating reassessment proceedings under Section 147, the Assessing Officer needs only prima facie material providing a reason to believe that income has escaped assessment. Conclusive proof or the sufficiency/correctness of the material is not required at the stage of issuing the notice under Section 148.

How many judgments cite ACIT v. Rajesh Jhaveri Stock Brokers Pvt. Ltd.?

994 judgments on BharatTax cite ACIT v. Rajesh Jhaveri Stock Brokers Pvt. Ltd. (291 ITR 500), spanning 2008 to 2026.

Which sections of the Income Tax Act does ACIT v. Rajesh Jhaveri Stock Brokers Pvt. Ltd. come up under?

It is most often cited in judgments turning on Section 147, Section 148, Section 143(3), Section 143(1), Section 142(1), Section 68.

ACIT v. Rajesh Jhaveri Stock Brokers Pvt. Ltd. (291 ITR 500)

DEPUTY COMMISSIONER OF INCOME TAX, YAMUNANAGAR vs. M/S THE VED PARKASH MUKAND LAL, YAMUNANAGAR

In the result, the assessee’s appeals, for both the years, stand dismissed

ITA 833/CHANDI/2014[2005-06]Status: DisposedITAT Chandigarh10 Mar 2026AY 2005-06

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.824/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 2. आयकर अपील सं. / Ita No.825/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) The Ved Prakash Mukand Lal Dcit Educational Society Circle Yamuna Nagar बनाम/ Vs. (Radaur, Yamuna Nagar) Haryana C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : & 3. आयकर अपील सं. / Ita No.833/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 4. आयकर अपील सं. / Ita No.832/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) Dcit The Ved Prakash Mukand Lal Circle Yamuna Nagar Educational Society बनाम/ Haryana (Radaur, Yamuna Nagar) Vs. C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : अपीलाथ"कीओरसे/ Appellant By : Sh. Tejmohan Singh (Advocate) – Ld. Ar ""थ"कीओरसे/Respondent By : Smt. Yamini (Cit) - Ld. Dr (Virtual)

For Appellant: Sh. Tejmohan Singh (Advocate) – Ld. ARFor Respondent: Smt. Yamini (CIT) - Ld. DR (Virtual)

Section 11Section 11(2)Section 11(5)Section 12ASection 143(1)Section 143(3)Section 147

…whether there was, prima-facie, some material on the basis of which the department could reopen the case. The sufficiency or correctness of material is not a thing to be considered at this stage. In the case of ACIT vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd. (291 ITR 500),it was held that even if reason to belief about escapement of income is prompted by audit objections, the assessment would be valid. 3.4 In the present case, Ld. AO duly considered the objections of the assessee on reopening of the case of the assessee. In the assessment order, Ld. AO brought on record the reasons for reopening the case, the ass…

DCIT vs. M/S THE VED PARKASH MUKAND LAL, YAMUNANAGAR

In the result, the assessee’s appeals, for both the years, stand dismissed

ITA 832/CHANDI/2014[2006-07]Status: DisposedITAT Chandigarh10 Mar 2026AY 2006-07

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.824/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 2. आयकर अपील सं. / Ita No.825/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) The Ved Prakash Mukand Lal Dcit Educational Society Circle Yamuna Nagar बनाम/ Vs. (Radaur, Yamuna Nagar) Haryana C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : & 3. आयकर अपील सं. / Ita No.833/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 4. आयकर अपील सं. / Ita No.832/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) Dcit The Ved Prakash Mukand Lal Circle Yamuna Nagar Educational Society बनाम/ Haryana (Radaur, Yamuna Nagar) Vs. C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : अपीलाथ"कीओरसे/ Appellant By : Sh. Tejmohan Singh (Advocate) – Ld. Ar ""थ"कीओरसे/Respondent By : Smt. Yamini (Cit) - Ld. Dr (Virtual)

For Appellant: Sh. Tejmohan Singh (Advocate) – Ld. ARFor Respondent: Smt. Yamini (CIT) - Ld. DR (Virtual)

Section 11Section 11(2)Section 11(5)Section 12ASection 143(1)Section 143(3)Section 147

…whether there was, prima-facie, some material on the basis of which the department could reopen the case. The sufficiency or correctness of material is not a thing to be considered at this stage. In the case of ACIT vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd. (291 ITR 500),it was held that even if reason to belief about escapement of income is prompted by audit objections, the assessment would be valid. 3.4 In the present case, Ld. AO duly considered the objections of the assessee on reopening of the case of the assessee. In the assessment order, Ld. AO brought on record the reasons for reopening the case, the ass…

THE VED PRAKASH MUKAND LAL EDUCATIONAL SOCIETY,YAMUNANAGAR vs. DCIT, YAMUNANAGAR

In the result, the assessee’s appeals, for both the years, stand dismissed

ITA 825/CHANDI/2014[2006-07]Status: DisposedITAT Chandigarh10 Mar 2026AY 2006-07

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.824/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 2. आयकर अपील सं. / Ita No.825/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) The Ved Prakash Mukand Lal Dcit Educational Society Circle Yamuna Nagar बनाम/ Vs. (Radaur, Yamuna Nagar) Haryana C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : & 3. आयकर अपील सं. / Ita No.833/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 4. आयकर अपील सं. / Ita No.832/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) Dcit The Ved Prakash Mukand Lal Circle Yamuna Nagar Educational Society बनाम/ Haryana (Radaur, Yamuna Nagar) Vs. C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : अपीलाथ"कीओरसे/ Appellant By : Sh. Tejmohan Singh (Advocate) – Ld. Ar ""थ"कीओरसे/Respondent By : Smt. Yamini (Cit) - Ld. Dr (Virtual)

For Appellant: Sh. Tejmohan Singh (Advocate) – Ld. ARFor Respondent: Smt. Yamini (CIT) - Ld. DR (Virtual)

Section 11Section 11(2)Section 11(5)Section 12ASection 143(1)Section 143(3)Section 147

…whether there was, prima-facie, some material on the basis of which the department could reopen the case. The sufficiency or correctness of material is not a thing to be considered at this stage. In the case of ACIT vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd. (291 ITR 500),it was held that even if reason to belief about escapement of income is prompted by audit objections, the assessment would be valid. 3.4 In the present case, Ld. AO duly considered the objections of the assessee on reopening of the case of the assessee. In the assessment order, Ld. AO brought on record the reasons for reopening the case, the ass…

THE VED PRAKASH MUKAND LAL EDUCATIONAL SOCIETY,YAMUNANAGAR vs. DCIT, YAMUNANAGAR

In the result, the assessee’s appeals, for both the years, stand dismissed

ITA 824/CHANDI/2014[2005-06]Status: DisposedITAT Chandigarh10 Mar 2026AY 2005-06

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.824/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 2. आयकर अपील सं. / Ita No.825/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) The Ved Prakash Mukand Lal Dcit Educational Society Circle Yamuna Nagar बनाम/ Vs. (Radaur, Yamuna Nagar) Haryana C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : & 3. आयकर अपील सं. / Ita No.833/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 4. आयकर अपील सं. / Ita No.832/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) Dcit The Ved Prakash Mukand Lal Circle Yamuna Nagar Educational Society बनाम/ Haryana (Radaur, Yamuna Nagar) Vs. C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : अपीलाथ"कीओरसे/ Appellant By : Sh. Tejmohan Singh (Advocate) – Ld. Ar ""थ"कीओरसे/Respondent By : Smt. Yamini (Cit) - Ld. Dr (Virtual)

For Appellant: Sh. Tejmohan Singh (Advocate) – Ld. ARFor Respondent: Smt. Yamini (CIT) - Ld. DR (Virtual)

Section 11Section 11(2)Section 11(5)Section 12ASection 143(1)Section 143(3)Section 147

…whether there was, prima-facie, some material on the basis of which the department could reopen the case. The sufficiency or correctness of material is not a thing to be considered at this stage. In the case of ACIT vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd. (291 ITR 500),it was held that even if reason to belief about escapement of income is prompted by audit objections, the assessment would be valid. 3.4 In the present case, Ld. AO duly considered the objections of the assessee on reopening of the case of the assessee. In the assessment order, Ld. AO brought on record the reasons for reopening the case, the ass…

ROHITKUMAR CHINUBHAI MODI,AHMEDABAD vs. THE ACIT, CIR. 5(2) NOW DCIT, CIRCLE-2(1)(1), AHMEDABAD

The appeal of the assessee is hereby dismissed

ITA 1961/AHD/2025[2009-10]Status: DisposedITAT Ahmedabad20 Feb 2026AY 2009-10

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

For Appellant: Shri Satish Solanki, ARFor Respondent: Shri Yogesh Mishra, Sr. DR

Section 143(3)Section 147Section 148Section 263

…red to conclusively prove escapement of income. It is sufficient if there exists prima facie material leading to formation of such belief. This legal position is well settled by the Hon’ble Supreme Court in CIT v. Rajesh Jhaveri Stock Brokers (P.) Ltd. (2007) 291 ITR 500 (SC) and Raymond Woollen Mills Ltd. v. ITO (1999) 236 ITR 34 (SC). Therefore, the reopening of assessment in the present case cannot be said to be invalid or based on a mere change of opinion. 19. As regards the contention that the Department is taking contradictory stands by rejecting the purchaser’s claim of deduction under section 54B of ITA…

SAURABHBHAI ROHITBHAI MODI,AHMEDABAD vs. THE ACIT, CIR. 5(2) NOW DCIT, CIRCLE-2(1)(1), AHMEDABAD

The appeal of the assessee is hereby dismissed

ITA 1960/AHD/2025[2009-10]Status: DisposedITAT Ahmedabad20 Feb 2026AY 2009-10

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinha

For Appellant: Shri Satish Solanki, ARFor Respondent: Shri Yogesh Mishra, Sr. DR

Section 143(3)Section 147Section 148Section 263

…red to conclusively prove escapement of income. It is sufficient if there exists prima facie material leading to formation of such belief. This legal position is well settled by the Hon’ble Supreme Court in CIT v. Rajesh Jhaveri Stock Brokers (P.) Ltd. (2007) 291 ITR 500 (SC) and Raymond Woollen Mills Ltd. v. ITO (1999) 236 ITR 34 (SC). Therefore, the reopening of assessment in the present case cannot be said to be invalid or based on a mere change of opinion. 19. As regards the contention that the Department is taking contradictory stands by rejecting the purchaser’s claim of deduction under section 54B of ITA…

LABH COMBINES PVT. LTD.,,KOLKATA vs. DCIT, CIRCLE 7(1),, KOLKATA

In the result, the appeal of the assessee is allowed

ITA 2382/KOL/2025[2017-2018]Status: DisposedITAT Kolkata17 Feb 2026AY 2017-2018

Bench: SHRI RAJESH KUMAR, ACCOUNTANT MEMBER SHRI PRADIP KUMAR CHOUBEY (Judicial Member)

Section 132Section 132(4)Section 139(1)Section 143(2)Section 143(3)Section 147Section 148Section 148(2)Section 250Section 68

…ome has escaped assessment. 8. Similarly, the Hon’ble Bombay High Court in the case of PCIT Vs. Shodiman Investments Pvt. Ltd. (2018) reported in 93 taxmann.com 153 dated 16.04.2018 has held as under: The submission of the Dept that in view of Rajesh Jhaveri 291 ITR 500 (SC), the AO can reopen the assessment for "whatever reason" is preposterous. The AO cannot reopen on the basis of info received from DIT (Investigation) that a particular entity has entered into suspicious transactions without linking it to the assessee having indulged in activity which could give rise to reason to believe that income has escape…

ABHIMANYU NATH,NEW DELHI vs. ITO WARD 30(1), DELHI

In the result, appeal of assessee in ITA No

ITA 4930/DEL/2025[2012-13]Status: DisposedITAT Delhi11 Feb 2026AY 2012-13

Bench: Shri Anubhav Sharma & Shri Naveen Chandra

For Appellant: Ms. Roli Choubey, CAFor Respondent: Shri Om Prakash, Sr. DR

Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘C’ BENCH, NEW DELHI BEFORE SHRI ANUBHAV SHARMA, JUDICIAL MEMBER, AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER ITA No. 4930/DEL/2025[A.Y 2012-13] Shri Abhimanyu Nath Vs. The I.T.O W-44, Greater Kailash-2 Ward -30(1) New Delhi New Delhi PAN: AAIPN 5954 C (Appellant) (Respondent) Assessee By : Ms. Roli Choubey, CA Department By : Shri Om Prakash, Sr. DR Date of Hearing :27.11.2025 Date of Pronouncement :11.02.2026 PER NAVEEN CHANDRA, AM :- This appeal by the assessee is directed against the order of the ld. CIT(A)-1, Nashik dated 23.06.2025 pertaining to A.Y 2012-13.…

JASMINE ZUBIN SHROFF,PUNE vs. ITO, WARD-7(1), PUNE, PUNE

In the result, appeal of the Assessee is allowed

ITA 2380/PUN/2025[2012-13]Status: DisposedITAT Pune28 Jan 2026AY 2012-13

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपऩल सं. / Ita No.2380/Pun/2025 निर्धारण वषा / Assessment Year: 2012-13 Mrs.Jasmine Zubin Shroff V The Income Tax (Through Legal Heir Zubin K S Officer, Shroff), Ward-7(1), Pune. 826/C No.5, Anklesharia Blocks, Dastur Meher Road, Camp, Pune - 411001. Pan:Basps7144E Appellant/ Assessee Respondent /Revenue Assessee By Shri B C Malakar Revenue By Shri Sandeep Sathe - Jcit Date Of Hearing 08/12/2025 Date Of Pronouncement 28/01/2026 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Legal Heir Of Late Jasmine Z. Shroff Against The Order Of Ld.Commissioner Of Income Tax(Appeal)[Nfac], Passed Under Section 250 Of The Income Tax Act, 1961 For The A.Y.2012-13 Dated 19.12.2023 Emanating From The Assessment Order Passed Under Section 144 Of The

Section 144Section 250

…t the Assessing Officer after reproducing the information received from DDIT,(Investigation) Unit, drew the conclusion of escapement of income. In the case of Assistant Commissioner of Income-tax v. Rajesh Jhaveri Stock Brokers (P.) Ltd. [2007] 161 Taxman 316/291 ITR 500 (SC), the Supreme Court had explained that expression "reason to believe" would mean justification to know or suppose that income had escaped assessment. While, it is correct that it is not necessary for the Assessing Officer to finally ascertain whether income had escaped assessment, nonetheless, the Assessing Officer must have sufficient cause…

PEDA SUBBA RAO UNNAM,ADDANKI vs. ITO , WARD-1, ONGOLE

In the result, the appeal filed by the assessee is allowed

ITA 1664/HYD/2025[2015-16]Status: DisposedITAT Hyderabad28 Jan 2026AY 2015-16

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON'BLE (Accountant Member)

Section 147Section 148Section 149Section 149(1)(a)Section 69A

…tion for issuing the notice, only prima facie escapement of income can be considered. The notice was issued on 06.04.2022, based on info from A.Y. 2015-16, which is clearly beyond the 4-year limit. Case Law: CIT vs. Rajesh Jhaveri Stock Brokers P. Ltd. (2007) 291 ITR 500 (SC): The Supreme Court emphasized that the "reason to believe" for reopening must be based on tangible material and must be valid in law, including adherence to the time limits prescribed u/s 149. 2. Addition u/s 69A is Legally Unsustainable as the Assessee is Not Required to Maintain Books of Account. Objection: The CIT(A) erred in confirming t…

DONA BUILDERS PVT LTD ,MUMBAI vs. DCIT, CIRCLE 1(3)(1), MUMBAI

ITA 5375/MUM/2025[2013-14]Status: DisposedITAT Mumbai21 Jan 2026AY 2013-14

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan() Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2011-12 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Dona Builders Pvt Ltd Dcit, Circle 1(3)(1), Mumbai 108, Shiv Aashish S.V. Road, Aayakar Bhavan, Mumbai- Vs. Andheri West, Mumbai- 400058 400020 Pan No. Aaacd 3116 F Appellant Respondent : Mr. Rajesh Shah Assessee By : Mr. Annavaram Kosuri, Sr-Dr A/W Revenue By Mr. Uma Shankar Prasad, Cit Dr : 06/11/2025 Date Of Hearing Date Of Pronouncement : 21/01/2026 Order Per Bench These Five Appeals By The Assessee Are Directed Against Separate Orders Passed By The Ld. Commissioner Of Income-Tax

For Appellant: Mr. Annavaram Kosuri, SR-DR a/wFor Respondent: Mr. Rajesh Shah

Section 147Section 68

…ow and relied upon the supported the orders of the authorities below and relied upon the decisions of the Hon’ble Supreme Court in decisions of the Hon’ble Supreme Court in Assistant CIT v. Rajesh Assistant CIT v. Rajesh Jhaveri Stock Brokers (P.) Ltd. [2007] 291 ITR 500 (SC) [2007] 291 ITR 500 (SC) and Jhaveri Stock Brokers (P.) Ltd. ymond Woollen Mills Ltd. v. ITO. 1999 236 ITR 34 (SC) 1999 236 ITR 34 (SC) It was Raymond Woollen Mills Ltd. v. ITO submitted that at the stage of recording reasons, the correctness or submitted that at the stage of recording reasons, the correctness or submitted that at the stage o…

DONA BUILDERS PVT LTD ,MUMBAI vs. DCIT, CIRCLE 1(3)(1), MUMBAI

ITA 5374/MUM/2025[2011-12]Status: DisposedITAT Mumbai21 Jan 2026AY 2011-12

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan()

For Respondent: Mr. Rajesh Shah

Section 147Section 250Section 68

…f mind by the Assessing Officer. 6.1 Per contra, the learned Departmental Representative supported the orders of the authorities below and relied upon the decisions of the Hon'ble Supreme Court in Assistant CIT v. Rajesh Jhaveri Stock Brokers (P.) Ltd. [2007] 291 ITR 500 (SC) and Raymond Woollen Mills Ltd. v. ITO. 1999 236 ITR 34 (SC) It was submitted that at the stage of recording reasons, the correctness or sufficiency of material is not to be examined and that the Assessing Officer is only required to form a prima facie belief based on tangible material. According to the learned DR, whether the amount of ₹20,0…

DONA BUILDERS PVT LTD ,MUMBAI vs. DCIT, CIRCLE 1(3)(1), MUMBAI

ITA 5373/MUM/2025[2012-13]Status: DisposedITAT Mumbai21 Jan 2026AY 2012-13

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan()

For Respondent: Mr. Rajesh Shah

Section 147Section 250Section 68

…f mind by the Assessing Officer. 6.1 Per contra, the learned Departmental Representative supported the orders of the authorities below and relied upon the decisions of the Hon'ble Supreme Court in Assistant CIT v. Rajesh Jhaveri Stock Brokers (P.) Ltd. [2007] 291 ITR 500 (SC) and Raymond Woollen Mills Ltd. v. ITO. 1999 236 ITR 34 (SC) It was submitted that at the stage of recording reasons, the correctness or sufficiency of material is not to be examined and that the Assessing Officer is only required to form a prima facie belief based on tangible material. According to the learned DR, whether the amount of ₹20,0…

DONA BUILDERS PVT LTD ,MUMBAI vs. DCIT, CIRCLE 1(3)(1), MUMBAI

ITA 5372/MUM/2025[2010-11]Status: DisposedITAT Mumbai21 Jan 2026AY 2010-11

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan()

For Respondent: Mr. Rajesh Shah

Section 147Section 250Section 68

…f mind by the Assessing Officer. 6.1 Per contra, the learned Departmental Representative supported the orders of the authorities below and relied upon the decisions of the Hon'ble Supreme Court in Assistant CIT v. Rajesh Jhaveri Stock Brokers (P.) Ltd. [2007] 291 ITR 500 (SC) and Raymond Woollen Mills Ltd. v. ITO. 1999 236 ITR 34 (SC) It was submitted that at the stage of recording reasons, the correctness or sufficiency of material is not to be examined and that the Assessing Officer is only required to form a prima facie belief based on tangible material. According to the learned DR, whether the amount of ₹20,0…

DONA BUILDERS PVT LTD,MUMBAI vs. DCIT, CIRCLE 1(3)(1), MUMBAI

ITA 5371/MUM/2025[2009-10]Status: DisposedITAT Mumbai21 Jan 2026AY 2009-10

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan() Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2011-12 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Dona Builders Pvt Ltd Dcit, Circle 1(3)(1), Mumbai 108, Shiv Aashish S.V. Road, Aayakar Bhavan, Mumbai- Vs. Andheri West, Mumbai- 400058 400020 Pan No. Aaacd 3116 F Appellant Respondent : Mr. Rajesh Shah Assessee By : Mr. Annavaram Kosuri, Sr-Dr A/W Revenue By Mr. Uma Shankar Prasad, Cit Dr : 06/11/2025 Date Of Hearing Date Of Pronouncement : 21/01/2026 Order Per Bench These Five Appeals By The Assessee Are Directed Against Separate Orders Passed By The Ld. Commissioner Of Income-Tax

For Appellant: Mr. Annavaram Kosuri, SR-DR a/wFor Respondent: Mr. Rajesh Shah

Section 147Section 68

…ow and relied upon the supported the orders of the authorities below and relied upon the decisions of the Hon’ble Supreme Court in decisions of the Hon’ble Supreme Court in Assistant CIT v. Rajesh Assistant CIT v. Rajesh Jhaveri Stock Brokers (P.) Ltd. [2007] 291 ITR 500 (SC) [2007] 291 ITR 500 (SC) and Jhaveri Stock Brokers (P.) Ltd. ymond Woollen Mills Ltd. v. ITO. 1999 236 ITR 34 (SC) 1999 236 ITR 34 (SC) It was Raymond Woollen Mills Ltd. v. ITO submitted that at the stage of recording reasons, the correctness or submitted that at the stage of recording reasons, the correctness or submitted that at the stage o…

SMT. SHREE JAIN ,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(2), MUMBAI

In the result, we hold that

ITA 2565/MUM/2025[2016-17]Status: DisposedITAT Mumbai20 Jan 2026AY 2016-17

Bench: Shri Sandeep Gosain & Shri Bijayananda Prusethsmt. Shree Jain, 17/1, Vs. The Assistant Commissioner Of Income Anurag Ali Asker Rod, Off. Tax, Central Circle-5(2), Mumbai. Chunningham Road, 1/24, Room No.634, Aayakar Bhawan, Marsh Bangalore-560052. Karve Road, Churchgate, Mumbai- 400020. Pan/Gir No:Aarpj4573A (Appellant) (Respondent)

Section 143(1)Section 143(3)Section 147Section 148Section 234ASection 250Section 271(1)(c)

…the IT Act and hence there was no question of change of opinion and therefore on this basis, the notice issued was valid. This aspect is squarely covered by the judgment in the case of Asstt. CIT v. Rajesh Jhaveri Stock Brokers (P) Ltd. [2007] 161 Taxman 316/291 ITR 500 (SC).” 4.1 Regarding the merits of the addition the CIT(A) dismissed the grounds taken up by the assessee by giving the following findings: “7.3. Facts of the case and submission of the assessee have been examined. It is seen that the assessee had purchased a property of 03 acres 20 guntha in Survey No. 416/1 at Devanahalli Village, KasabaHobli…

SANGHI TEXTILES PRIVATE LIMITED,HYDERBAD vs. ITO., WARD-3(1), HYDERABAD

ITA 1311/HYD/2025[2014-15]Status: DisposedITAT Hyderabad07 Jan 2026AY 2014-15

Bench: Us:

Section 139(1)Section 143(2)Section 145Section 147Section 148Section 194ASection 250Section 37(1)

…26AS statement, but remained unaccounted. The information clearly constitutes "tangible material" justifying reopening as held in the case of Raymond Woollen Mills Ltd. v. ITO [(1999) 236 ITR 34 (SC)) and ACIT v. Rajesh Jhaveri Stock Brokers Pvt. Ltd. [(2007) 291 ITR 500 (SC)]. Further, the approval under section 151 was duly obtained and the reasons for reopening were recorded, as confirmed in the assessment order. The reassessment was within the prescribed time and squarely falls within the framework of section 147, Therefore, the action of the AO in reopening the assessment is held to be valid and in accordanc…

ASHISH GIRISH JAIN,MUMBAI vs. ITO, WARD 42(1)(1), MUMBAI, MUMBAI

ITA 5328/MUM/2025[2010-11]Status: DisposedITAT Mumbai07 Jan 2026AY 2010-11

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Rajesh ShahFor Respondent: Shri Pradipsinh Saktavat

Section 132Section 143(1)Section 143(3)Section 147Section 148

…es. The contention advanced on behalf of the Assessee was restricted to the transaction undertaken by the Assessee with M/s. Mani Prabha Impex Private Limited. It is settled legal position that in Income Tax Officer Vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd. [291 ITR 500], the Hon’ble Supreme Court had explained that the reasons to believe is different from conclusive proof. In the case of Raymond Woollen Mills Ltd. Vs. ITO [236 ITR 34 (SC)], the Hon’ble Supreme Court Court has held that the adequacy or correctness of the material is not to be investigate at the notice stage; what is required is some material tha…

JAP OVERSEAS PRIVATE LIMITED,MUMBAI vs. ITO WARD, 10 (2)(1), MUMBAI , MUMBAI

In the result, the appeal by the assessee is allowed

ITA 7228/MUM/2025[2010 - 11]Status: DisposedITAT Mumbai06 Jan 2026

Bench: Shri Sandeep Gosain & Shri Bijayananda Prusethjap Overseas Private Vs. Ito Ward, 10(2)(1) Limited Room No. 573, Aayakar Bhawan, B-102, Twinkle Maharishi Karve Road, New Marine Lines, Apartments, New Link Mumbai-400020. Road, Lokhandwala Complex, Andheri (W), Mumbai-400053. Pan/Gir No: Aaacj1573C (Appellant) (Respondent)

Section 142(1)Section 143(1)Section 143(2)Section 147Section 148Section 250Section 69C

…grounds as well as on the grounds on merit. For validity of re-opening he has relied on a number of decisions of the Hon’ble Supreme Court and various High Courts including the decisions in cases of Rajesh Jhaveri Stock Broker (P.) Ltd. (2007) 161 Taxman 316/291 ITR 500 (SC) Vs. ACIT, Phool Chand Bajrang Lal Vs. ITO(1993)203 ITR 456 Raymond Woollen Mills Ltd. Vs. ITO(1993) 236 ITR 34 (SC) etc., which are at para 5.4 to 5.22 of the appellate order. He has also confirmed the disallowance of loss of Rs.53,88,134/- and addition of commission expenses of Rs.1,07,763/-. 5. Further aggrieved, the assessee has filed…

DCIT(CC)-8(3), MUMBAI vs. JSW STEEL LIMITED, MUMBAI

In the result, all the above appeals of the assessee are\npartly allowed and Cross appeals of the Revenue are\ndismissed

ITA 5615/MUM/2024[2014-15]Status: DisposedITAT Mumbai08 Dec 2025AY 2014-15

Section 143(3)Section 144Section 147Section 251Section 263

…tion as held in ITO v. Selected Dalurband\nCoal Co. (P.) Ltd. [1996]217 ITR 597 (SC)., (Sheo Nath Singh 82 ITR\n147)(SC) & Bhagwan Industrial P.Ltd 31STC 293 (SC). The Hon'ble Apex\nCourt in the case of ACIT vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd.\n(2007) (291 ITR 500) has categorically stated that “reason to believe”\ndoes not mean that the reason for re-opening should have been factually\nascertained by legal evidence or conclusion before the re-opening of an\nassessment. The Hon'ble Supreme Court in the case of Raymond\nWoollen Mills Ltd. VS. ITO 236 ITR 34, 35 (SC) held that for\ndetermining whether initia…

ACIT v. Rajesh Jhaveri Stock Brokers Pvt. Ltd.

What is ACIT v. Rajesh Jhaveri Stock Brokers Pvt. Ltd. authority for?

Also referred to as

Sections most often in play

Issues it is cited on

Judgments citing ACIT v. Rajesh Jhaveri Stock Brokers Pvt. Ltd.

DEPUTY COMMISSIONER OF INCOME TAX, YAMUNANAGAR vs. M/S THE VED PARKASH MUKAND LAL, YAMUNANAGAR

DCIT vs. M/S THE VED PARKASH MUKAND LAL, YAMUNANAGAR

THE VED PRAKASH MUKAND LAL EDUCATIONAL SOCIETY,YAMUNANAGAR vs. DCIT, YAMUNANAGAR

THE VED PRAKASH MUKAND LAL EDUCATIONAL SOCIETY,YAMUNANAGAR vs. DCIT, YAMUNANAGAR

ROHITKUMAR CHINUBHAI MODI,AHMEDABAD vs. THE ACIT, CIR. 5(2) NOW DCIT, CIRCLE-2(1)(1), AHMEDABAD

SAURABHBHAI ROHITBHAI MODI,AHMEDABAD vs. THE ACIT, CIR. 5(2) NOW DCIT, CIRCLE-2(1)(1), AHMEDABAD

LABH COMBINES PVT. LTD.,,KOLKATA vs. DCIT, CIRCLE 7(1),, KOLKATA

ABHIMANYU NATH,NEW DELHI vs. ITO WARD 30(1), DELHI

JASMINE ZUBIN SHROFF,PUNE vs. ITO, WARD-7(1), PUNE, PUNE

PEDA SUBBA RAO UNNAM,ADDANKI vs. ITO , WARD-1, ONGOLE

DONA BUILDERS PVT LTD ,MUMBAI vs. DCIT, CIRCLE 1(3)(1), MUMBAI

DONA BUILDERS PVT LTD ,MUMBAI vs. DCIT, CIRCLE 1(3)(1), MUMBAI

DONA BUILDERS PVT LTD ,MUMBAI vs. DCIT, CIRCLE 1(3)(1), MUMBAI

DONA BUILDERS PVT LTD ,MUMBAI vs. DCIT, CIRCLE 1(3)(1), MUMBAI

DONA BUILDERS PVT LTD,MUMBAI vs. DCIT, CIRCLE 1(3)(1), MUMBAI

SMT. SHREE JAIN ,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(2), MUMBAI

SANGHI TEXTILES PRIVATE LIMITED,HYDERBAD vs. ITO., WARD-3(1), HYDERABAD

ASHISH GIRISH JAIN,MUMBAI vs. ITO, WARD 42(1)(1), MUMBAI, MUMBAI

JAP OVERSEAS PRIVATE LIMITED,MUMBAI vs. ITO WARD, 10 (2)(1), MUMBAI , MUMBAI

DCIT(CC)-8(3), MUMBAI vs. JSW STEEL LIMITED, MUMBAI