Assistant Commissioner of Income-tax, Vapi Circle v. Resham Petrotech Ltd.

136 ITD 185Income Tax Appellate Tribunal2012#10397 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2023.

Judgments citing Assistant Commissioner of Income-tax, Vapi Circle v. Resham Petrotech Ltd.

ITO, WARD-5(1), KOLKATA vs. M/S BPO FINANCE AND INVESTMENTS PVT LTD, KOLKATA

In the result, the appeal of the revenue stands dismissed

ITA 99/KOL/2022[2008-09]Status: DisposedITAT Kolkata04 Jul 2023AY 2008-09

Bench: Shri Sanjay Garg & Rajesh Kumari.T.A No.99/Kol/2022 Assessment Year: 2008-09 Ito, Ward-5(1), Kolkata……..........................................................……Appellant Vs. M/S Bpo Finance & Investments Pvt. Ltd. .……........……..…..…..Respondent R No.54,5/1, Clive Row (2Nd Floor), Kolkata-1. [Pan: Aaccb5328F] Appearances By: Shri Manish Tiwari, Ar Appeared On Behalf Of The Appellant. Shri Vijay Kumar, Addl. Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 15, 2023 Date Of Pronouncing The Order : July 04, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Revenue Against The Order Dated 10.09.2020 Of The Commissioner Of Income Tax (Appeals)-13, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Revenue Originally Has Taken The Following Grounds Of Appeal: “1. Whether On The Facts & In The Circumstances Of The Case, Ld, Cit(A) Was Justified In The Quashing The Addition Of Rs. 1,85,000,00/- Made By The Assessing Officer On Account Of Share Capital & Premium In The Course Assessment In Absence Of Identity Of The Creditors, Genuineness & Creditworthiness Of The Entire Transactions. 2. Whether On The Facts & In The Circumstances Of The Case, Ld, Cit(A) Was Justified In The Quashing The Addition Of Rs. 1,85,00,000/-Made By The Assessing Officer Where No Personal Attendance Was Made By Any Director Of The Share Allottee Companies During The Course Of Assessment Proceedings & As Such Identity & Creditworthiness Of The Creditors & Genuineness Of Transactions Could Not Be Verified.

Section 14ASection 250Section 68

…on issuance of a valid notice and in absence of the same, entire proceedings I.T.A No.99/Kol/2022 Assessment year: 2008-09 M/s BPO Finance and Investments Pvt. Ltd taken by him would become void for want of jurisdiction [ACIT vs. Resham Petrotech Ltd. (2012) 136 ITD 185 (Ahd.)(Trib)] 5.2.3 Further, In the case of Smriti Kedia vs. UOI (2012) 250CTR221 (Cal.), the assessment was in Kolkata and the Reassessment notice was issued in Delhi, and such reassessment was held to be without jurisdiction. It was held that Assessment having been made by A.O. in Kolkata, in the absence of any order under Section 127 transferr…

RADHA MITTAL,LUDHIANA vs. ITO- WARD 7(3), LUDHIANA

In the result, the appeal of the assessee is allowed in light

ITA 1140/CHANDI/2019[2011-12]Status: DisposedITAT Chandigarh18 Oct 2022AY 2011-12

Bench: Shri Sanjay Garg & Shri Vikram Singh Yadavradha Mittal, Ito बनाम H. No. 85-A, Aggar Nagar, Ward- 7(3), Ludhiana- 141012 Ludhiana

For Appellant: Shri Sarabjit Garg, C.AFor Respondent: Smt. Priyanka Dhar, Sr. D.R

Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 151Section 68

…48 was issued by ITO, Ward 6(2), Ludhiana wherein the assessment was completed by ITO, Ward 7(3), Ludhiana which cannot be sustained in the eyes of law and in support, reliance was placed on the following decisions: • ACIT vs. Resham Petrotech Ltd. (2012) 136 ITD 185 (Ahd.) (Trib.) • Smriti Kedia (Smt.) v. UOI (2012) 71 DTR 245/250 CTR 221 (Cal.) • ITO v. Rajender Prasad Gupta (2010) 48 DTR 489 (JD) (Trib.) 5. It was further submitted that the notice u/s 148 was issued on the ground that the assessee has not disclosed the amount of long term capital gains on sale of shares whereas in the computation of incom…

ITO 28 (3)(4), MUMBAI vs. VASANT PURSHOTTAM THAKKAR, MUMBAI

Accordingly the cross objection of assessee is allowed

ITA 2515/MUM/2019[2009-10]Status: DisposedITAT Mumbai19 Jan 2022AY 2009-10

Bench: Shri Prashant Maharishi () & Shri Pavan Kumar Gadale ()

Section 147Section 148Section 151

…rted in 404 ITR 63 in case of Lalit Kumar Bardia and the decision of the honourable Gujarat High Court in case of Pankaj Jaisukhlal Shah 425 ITR 70. He further referred to the decision of the coordinate bench in case of ACIT versus Resham Petrotech Ltd (2012) 136 ITD 185 (AHD). Therefore, the crux of his argument was that the basic requirement of Section 147 is that the assessing officer must have reason to believe that any income chargeable to tax has escaped assessment and such belief must be belief of jurisdictional assessing 10 ITA 2515/Mum/2019 & Co 12/Mum/2021 officer and not of any other assessing officer…

TIRLOK SINGH,KURUKSHETRA vs. DCIT, INTL. TAXATION, GURGAON

In the result, the appeal of the assessee stands allowed

ITA 3995/DEL/2018[2009-10]Status: DisposedITAT Delhi08 Dec 2021AY 2009-10

Bench: Shri Anil Chaturvedi& Shri Sanjay Gargआयकरअपीलसं./Ita No.3995/Del/2018 िनधा"रणवष" / Assessment Year : 2009-10 Sh. Tirlok Singh, बनाम The Dcit(International S/O Sh. Surjit Singh, Taxation), Circle, Village Kalsa, Tehsil Pehowa, Gurgaon Kurukshetra "थायीलेखासं./Pan No: Cbzps6654J अपीलाथ"/Appellant ""यथ"/Respondent Hearing Though Video Conferencing िनधा"रतीक"ओरसे/Assessee By : Shri Sudhir Sehgal, Advocate राज"वक"ओरसे/ Revenue By : Dr. Jagdish Singh, Sr. Dr सुनवाईक"तारीख/Date Of Hearing : 06.10.2021 उदघोषणाक"तारीख/Date Of Pronouncement : 08.12.2021 आदेश/Order Per Sanjay Garg:

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Dr. Jagdish Singh, Sr. DR

Section 143(3)Section 147Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, “B”,DELHI BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER& SHRI SANJAY GARG, JUDICIAL MEMBER आयकरअपीलसं./ITA No.3995/DEL/2018 िनधा"रणवष" / Assessment Year : 2009-10 Sh. Tirlok Singh, बनाम The DCIT(International S/o Sh. Surjit Singh, Taxation), Circle, Village Kalsa, Tehsil Pehowa, Gurgaon Kurukshetra "थायीलेखासं./PAN NO: CBZPS6654J अपीलाथ"/Appellant ""यथ"/Respondent Hearing though video Conferencing िनधा"रतीक"ओरसे/Assessee by : Shri Sudhir Sehgal, Advocate राज"वक"ओरसे/ Revenue by : Dr. Jagdish Singh, Sr. DR सुनवाईक"तारीख/Date of Hearing : 06.10.2021 उदघोषणाक"तार…

SUNITA MADHOK ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1(2)(1), BANGALORE

In the result, the appeals by the assessee are partly allowed

ITA 555/BANG/2018[2007-08]Status: DisposedITAT Bangalore11 Oct 2021AY 2007-08

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H.N. Khincha, CAFor Respondent: Smt. H. Kabila, Addl.CIT(DR)(ITAT), Bengaluru

Section 234BSection 69

…otice u/s 148 that he has reason to believe that income chargeable to tax has escaped assessment. Hence, the initiation of proceedings u/s 147 is not valid. 67. The Tribunal in Assistant Commissioner of Income-tax, Vapi Circle v. Resham Petrotech Ltd. [2012] 136 ITD 185 (AHD.) held as under: “The ITO himself should form the reasonable belief that income has escaped assessment and then only he can reopen an assessment. Reassessment proceedings initiated on the directions given by the CIT would be invalid [CIT v. T. R. Rajkumari [1973] 96 ITR 78 (Mad.): TC 51R 430].The requisite belief u/s. 147 must be that of the…

SUNITA MADHOK ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1(2)(1), , BANGALORE

In the result, the appeals by the assessee are partly allowed

ITA 554/BANG/2018[2006-07]Status: DisposedITAT Bangalore11 Oct 2021AY 2006-07

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H.N. Khincha, CAFor Respondent: Smt. H. Kabila, Addl.CIT(DR)(ITAT), Bengaluru

Section 234BSection 69

INCOME TAX OFFICER, WARD - 3(2)(3), BANGALORE vs. SRI MADE GOWDA THIBBE GOWDA, BANGALORE

In the result, the appeal of the revenue is dismissed and CO of the assessee is partly allowed

ITA 910/BANG/2019[2008-09]Status: DisposedITAT Bangalore29 Sept 2021AY 2008-09

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2008-09

For Appellant: Shri H. Guruswamy, ITP & Shri Ravi Kiran, CAFor Respondent: Shri Priyadarshi Mishra, Jt. CIT(DR)(ITAT), Bengaluru

Section 131Section 148

…otice u/s 148 that he has reason to believe that income chargeable to tax has escaped assessment. Hence, the initiation of proceedings u/s 147 is not valid. 41. The Tribunal in Assistant Commissioner of Income-tax, Vapi Circle v. Resham Petrotech Ltd. [2012] 136 ITD 185 (AHD.) held as under: “The ITO himself should form the reasonable belief that income has escaped assessment and then only he can reopen an assessment. Reassessment proceedings initiated on the directions given by the CIT would be invalid [CIT v. T. R. Rajkumari [1973] 96 ITR 78 (Mad.): TC 51R 430].The requisite belief u/s. 147 must be that of th…

SHRI. JITENDRA VIRWANI,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

In the result, both the appeals by the assessee are allowed

ITA 47/BANG/2021[2003-04]Status: DisposedITAT Bangalore23 Jun 2021AY 2003-04

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri S. Ramasubramanian, CAFor Respondent: Shri Priyadarshi Mishra, Addl.CIT(DR)(ITAT), Bengaluru

Section 147Section 234DSection 69

…otice u/s 148 that he has reason to believe that income chargeable to tax has escaped assessment. Hence, the initiation of proceedings u/s 147 is not valid. 36. The Tribunal in Assistant Commissioner of Income-tax, Vapi Circle v. Resham Petrotech Ltd. [2012] 136 ITD 185 (AHD.) held as under: “The ITO himself should form the reasonable belief that income has escaped assessment and then only he can reopen an assessment. Reassessment proceedings initiated on the directions given by the CIT would be invalid [CIT v. T. R. Rajkumari [1973] 96 ITR 78 (Mad.): TC 51R 430].The requisite belief u/s. 147 must be that of th…

SHRI. JITENDRA VIRWANI,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

In the result, both the appeals by the assessee are allowed

ITA 46/BANG/2021[2002-03]Status: DisposedITAT Bangalore23 Jun 2021AY 2002-03

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri S. Ramasubramanian, CAFor Respondent: Shri Priyadarshi Mishra, Addl.CIT(DR)(ITAT), Bengaluru

Section 147Section 234DSection 69

SHRI TEJ PAL SINGH,HARYANA vs. ITO, BARAUT

In the result, appeal of the assessee is allowed

ITA 3087/DEL/2017[2012-13]Status: DisposedITAT Delhi22 Nov 2017AY 2012-13

Bench: Shri N.K. Saini

For Appellant: Sh. Sandeep Sapra, AdvocateFor Respondent: Sh. Amrit Lal, Sr. DR

Section 144Section 147Section 148Section 68Section 69

…ther submitted that the assessment has been framed by ITO, Baraut who had not issued any notice under Section 148 of the Act. Therefore, the assessment framed was not valid. Reliance was placed on the following case laws: (i) ACIT vs. Resham Petrotech Ltd., 136 ITD 185 (Ahd) (ii) Smt. Smriti Kedia vs. Union of India, 339 ITR 37(Cal) 6. In his rival submissions, the learned DR supported the orders of the authorities below and further submitted that the assessee did not reply to the notice issued by the AO for explaining the deposit in his bank account. Therefore, the addition was rightly made by the AO and the l…