CIT v. Shri Ram Singh

306 ITR 343High Court2008#534 most cited

What is CIT v. Shri Ram Singh authority for?

The Assessing Officer cannot assess or reassess any other income under Section 147 if the original grounds for issuing the Section 148 notice are not sustained. Jurisdiction to add other income discovered during reassessment proceedings arises only if the income for which the notice was initially issued is successfully assessed or reassessed.

180

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2012 to 2026.

Also referred to as

CIT v. Shri Ram Singh · 306 ITR 343 · Section 147 · Section 148 · reassessment jurisdiction · original grounds not sustained · income escaping assessment · scope of reassessment · Jet Airways principle · Explanation 3 Section 147

Also reported as

174 Taxmann 438217 CTR 3458 DTR 118

Sections most often in play

Section 148Section 147Section 143(3)Section 142(1)Section 68Section 139(1)Section 144BSection 234B

Issues it is cited on

section 147(1)section 13(1)(c)(ii)section 148(2)section 32(1)(iia)clarificatory amendmentsection 140income escaping assessmentkelvinatorfresh tangible materialsection 234dreason to believeadditional depreciation

Judgments citing CIT v. Shri Ram Singh

S.Devendran, Trichy vs. ITO, Trichy

In the result, the appeals of the assessees for all the

ITA 1220/CHNY/2017[1996-97]Status: DisposedITAT Chennai17 Aug 2017AY 1996-97

Bench: Shri Abraham P. George]

For Appellant: Shri. A.S. Sriraman, Adv
Section 133ASection 148Section 271(1)Section 281B

…view has been supported by the background which led to the insertion to Explanation 3 to section 147. Parliament must be regarded as being aware of the interpretation that was placed on the words "and also" by the Rajasthan High Court in Shri Ram Singh [2008] 306 ITR 343 . Parliament has not taken away the basis of that decision. While it is open to Parliament, having regard to the plenitude of its legislative powers to do so, the provisions of section 147 as they stood after the amendment of April 1, 1989, continue to hold the field’’. Observation of Hon’ble Jurisdictional High Court in the case of M/s. Martech…

M.R.Prasad, Trichy vs. ITO, Trichy

In the result, the appeals of the assessees for all the

ITA 1219/CHNY/2017[1997-98]Status: DisposedITAT Chennai17 Aug 2017AY 1997-98

Bench: Shri Abraham P. George]

For Appellant: Shri. A.S. Sriraman, Adv
Section 133ASection 148Section 271(1)Section 281B

…view has been supported by the background which led to the insertion to Explanation 3 to section 147. Parliament must be regarded as being aware of the interpretation that was placed on the words "and also" by the Rajasthan High Court in Shri Ram Singh [2008] 306 ITR 343 . Parliament has not taken away the basis of that decision. While it is open to Parliament, having regard to the plenitude of its legislative powers to do so, the provisions of section 147 as they stood after the amendment of April 1, 1989, continue to hold the field’’. Observation of Hon’ble Jurisdictional High Court in the case of M/s. Martech…

M.R.Prasad, Trichy vs. ITO, Trichy

In the result, the appeals of the assessees for all the

ITA 1218/CHNY/2017[1996-97]Status: DisposedITAT Chennai17 Aug 2017AY 1996-97

Bench: Shri Abraham P. George]

For Appellant: Shri. A.S. Sriraman, Adv
Section 133ASection 148Section 271(1)Section 281B

…view has been supported by the background which led to the insertion to Explanation 3 to section 147. Parliament must be regarded as being aware of the interpretation that was placed on the words "and also" by the Rajasthan High Court in Shri Ram Singh [2008] 306 ITR 343 . Parliament has not taken away the basis of that decision. While it is open to Parliament, having regard to the plenitude of its legislative powers to do so, the provisions of section 147 as they stood after the amendment of April 1, 1989, continue to hold the field’’. Observation of Hon’ble Jurisdictional High Court in the case of M/s. Martech…

M/S Indu Arts, Delhi vs. ACIT, New Delhi

In the result, the appeal is allowed

ITA 6611/DEL/2016[2006-07]Status: DisposedITAT Delhi07 Jun 2017AY 2006-07

Bench: Shri R.S. Syalassessment Year : 2006-07 Indu Arts, Vs. Acit, A-292, Shastri Nagar, Circle 19(1), Delhi. New Delhi. Pan: Aaafi2137E

For Appellant: Shri C.S. Aggarwal, Sr. Advocate
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : SMC : NEW DELHI BEFORE SHRI R.S. SYAL, VICE PRESIDENT Assessment Year : 2006-07 Indu Arts, Vs. ACIT, A-292, Shastri Nagar, Circle 19(1), Delhi. New Delhi. PAN: AAAFI2137E (Appellant) (Respondent) Assessee by : Shri C.S. Aggarwal, Sr. Advocate Deptt. By : Shri Amrit Lal, Sr.DR Date of Hearing : 05.06.2017 Date of Pronouncement: 07.06.2017 ORDER This appeal by the assessee is directed against the order passed by the CIT(A) on 03.11.2016 in relation to the Assessment Year 2006-07. 2. The only issue raised in this appeal is against the addition of Rs.2,36,875 made…

Dr.K.Sridhara, Chennai vs. Ait, Chennai

In the result, appeal of the assessee is allowed

ITA 1388/CHNY/2016[2005-06]Status: DisposedITAT Chennai03 May 2017AY 2005-06

Bench: Shri Abraham P. George]

For Appellant: Shri. T. Banusekar, C.AFor Respondent: Shri. M. Murali Mohan, JCIT
Section 143(1)Section 148

…l purpose only in March 2005. Contention of ld. Authorised Representative was that addition made being not related to the reason given for reopening the assessment, by virtue of judgment of Hon’ble Rajasthan High Court in the case of CIT vs. Shri Ram Singh, 306 ITR 343, Bombay High Court in the case of CIT vs. Jet Airways (I) Ltd 331 ITR 236 and that of Delhi High Court in the case of Ranbaxy Laboratories Ltd vs. CIT 336 ITR 136 the reassessment failed. In any case, as per the ld. Authorised Representative the reopening having been done after four years from the end of the impugned assessment year and the e…

DCIT, New Delhi vs. Giri Buildwell (P) Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 1428/DEL/2014[2001-02]Status: DisposedITAT Delhi13 Apr 2017AY 2001-02

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

Section 143(1)Section 147Section 148Section 68

…fied to acquire jurisdiction to assess other incomes even after insertion of Explanation 3 to section 147 by Finance Act, ITA No. 1428/Del./2014 6 2009 w.e.f. 01.04.1989. Reliance is placed on the decisions of Rajasthan High Court in CIT vs. Shri Ram Singh, 217 CTR 345 and of Bombay High Court in CIT Vs. Jet Airways (I) Ltd., 195 Taxman 117 (Bombay). It was also submitted that the Assessing Officer having failed to apply independent mind to the information, the belief of escapement of income formed on the basis of such information cannot be entertained for reopening of assessment. Reliance is placed on the deci…

ACIT, Alwar vs. M/S Prime Chem Oil Ltd., Alwar

ITA 9/JPR/2012[1999-00]Status: DisposedITAT Jaipur10 Mar 2017AY 1999-00
For Appellant: Shri P.C. Parwal (C.A.)For Respondent: Shri Prithaviraj Meena(Addl. CIT)
Section 143(1)Section 143(3)Section 147Section 148Section 68Section 69

…8. This amendment will take effect retrospectively from 1st April, 1989 and will, accordingly, apply in relation to assessment year 1989-1990 and subsequent years.” 7. We now refer to the decision of the Hon’ble Rajasthan High Court in case of Sri Ram Singh (306 ITR 343) which has been relied upon by the ld AR and followed by the ld CIT(A). In that case, the issue for consideration before the Hon’ble High Court was "whether in the facts and in the circumstances of the case, the Tribunal was justified in holding that the proceedings for reassessment under section 148/147 of the IT Act were initiated by the AO on…

ACIT, New Delhi vs. M/S. Balaji Perfumes, Delhi

In the result appeals are dismissed

ITA 509/DEL/2010[2005-06]Status: DisposedITAT Delhi19 Oct 2016AY 2005-06

Bench: Shri G. D. Agrawal & Smt Suchitra Kamblei.T.A .No.-505/Del/2010 (A.Y 2001-02) I.T.A .No.-506/Del/2010 (A.Y 2002-03) I.T.A .No.-507/Del/2010 (A.Y 2003-04) I.T.A .No.-508/Del/2010 (A.Y 2004-05) I.T.A. No.-509/Del/2010 (A.Y. 2005-06)

Section 132(1)Section 143Section 143(2)Section 153A

…DELHI BENCH: ‘A’ NEW DELHI BEFORE SHRI G. D. AGRAWAL, VICE PRESIDENT AND SMT SUCHITRA KAMBLE, JUDICIAL MEMBER I.T.A .No.-505/DEL/2010 (A.Y 2001-02) I.T.A .No.-506/DEL/2010 (A.Y 2002-03) I.T.A .No.-507/DEL/2010 (A.Y 2003-04) I.T.A .No.-508/DEL/2010 (A.Y 2004-05) I.T.A. No.-509/DEL/2010 (A.Y. 2005-06) ACIT vs Balaji Perfumes Cent. Circle 15, Room No. 354, 1/429/23, Friends Colony, ARA Centre, E-2, Jhandewalan Extn. Gali NI. 1. G. T. Road, New Delhi Shahdara Delhi AADFB533G (APPELLANT) (RESPONDENT) Appellant by Sh. Ravi Jain, CIT DR. Respondent by Sh. A. K. Jain, C.A Date of Hearing 16.08.2016 Date of Pronou…

ACIT, New Delhi vs. M/S. Balaji Perfumes, Delhi

In the result appeals are dismissed

ITA 508/DEL/2010[2004-05]Status: DisposedITAT Delhi19 Oct 2016AY 2004-05

Bench: Shri G. D. Agrawal & Smt Suchitra Kamblei.T.A .No.-505/Del/2010 (A.Y 2001-02) I.T.A .No.-506/Del/2010 (A.Y 2002-03) I.T.A .No.-507/Del/2010 (A.Y 2003-04) I.T.A .No.-508/Del/2010 (A.Y 2004-05) I.T.A. No.-509/Del/2010 (A.Y. 2005-06)

Section 132(1)Section 143Section 143(2)Section 153A

…DELHI BENCH: ‘A’ NEW DELHI BEFORE SHRI G. D. AGRAWAL, VICE PRESIDENT AND SMT SUCHITRA KAMBLE, JUDICIAL MEMBER I.T.A .No.-505/DEL/2010 (A.Y 2001-02) I.T.A .No.-506/DEL/2010 (A.Y 2002-03) I.T.A .No.-507/DEL/2010 (A.Y 2003-04) I.T.A .No.-508/DEL/2010 (A.Y 2004-05) I.T.A. No.-509/DEL/2010 (A.Y. 2005-06) ACIT vs Balaji Perfumes Cent. Circle 15, Room No. 354, 1/429/23, Friends Colony, ARA Centre, E-2, Jhandewalan Extn. Gali NI. 1. G. T. Road, New Delhi Shahdara Delhi AADFB533G (APPELLANT) (RESPONDENT) Appellant by Sh. Ravi Jain, CIT DR. Respondent by Sh. A. K. Jain, C.A Date of Hearing 16.08.2016 Date of Pronou…

ACIT, New Delhi vs. M/S. Balaji Perfumes, Delhi

In the result appeals are dismissed

ITA 507/DEL/2010[2003-04]Status: DisposedITAT Delhi19 Oct 2016AY 2003-04

Bench: Shri G. D. Agrawal & Smt Suchitra Kamblei.T.A .No.-505/Del/2010 (A.Y 2001-02) I.T.A .No.-506/Del/2010 (A.Y 2002-03) I.T.A .No.-507/Del/2010 (A.Y 2003-04) I.T.A .No.-508/Del/2010 (A.Y 2004-05) I.T.A. No.-509/Del/2010 (A.Y. 2005-06)

Section 132(1)Section 143Section 143(2)Section 153A

…DELHI BENCH: ‘A’ NEW DELHI BEFORE SHRI G. D. AGRAWAL, VICE PRESIDENT AND SMT SUCHITRA KAMBLE, JUDICIAL MEMBER I.T.A .No.-505/DEL/2010 (A.Y 2001-02) I.T.A .No.-506/DEL/2010 (A.Y 2002-03) I.T.A .No.-507/DEL/2010 (A.Y 2003-04) I.T.A .No.-508/DEL/2010 (A.Y 2004-05) I.T.A. No.-509/DEL/2010 (A.Y. 2005-06) ACIT vs Balaji Perfumes Cent. Circle 15, Room No. 354, 1/429/23, Friends Colony, ARA Centre, E-2, Jhandewalan Extn. Gali NI. 1. G. T. Road, New Delhi Shahdara Delhi AADFB533G (APPELLANT) (RESPONDENT) Appellant by Sh. Ravi Jain, CIT DR. Respondent by Sh. A. K. Jain, C.A Date of Hearing 16.08.2016 Date of Pronou…

ACIT, New Delhi vs. M/S. Balaji Perfumes, Delhi

In the result appeals are dismissed

ITA 506/DEL/2010[2002-03]Status: DisposedITAT Delhi19 Oct 2016AY 2002-03

Bench: Shri G. D. Agrawal & Smt Suchitra Kamblei.T.A .No.-505/Del/2010 (A.Y 2001-02) I.T.A .No.-506/Del/2010 (A.Y 2002-03) I.T.A .No.-507/Del/2010 (A.Y 2003-04) I.T.A .No.-508/Del/2010 (A.Y 2004-05) I.T.A. No.-509/Del/2010 (A.Y. 2005-06)

Section 132(1)Section 143Section 143(2)Section 153A

…DELHI BENCH: ‘A’ NEW DELHI BEFORE SHRI G. D. AGRAWAL, VICE PRESIDENT AND SMT SUCHITRA KAMBLE, JUDICIAL MEMBER I.T.A .No.-505/DEL/2010 (A.Y 2001-02) I.T.A .No.-506/DEL/2010 (A.Y 2002-03) I.T.A .No.-507/DEL/2010 (A.Y 2003-04) I.T.A .No.-508/DEL/2010 (A.Y 2004-05) I.T.A. No.-509/DEL/2010 (A.Y. 2005-06) ACIT vs Balaji Perfumes Cent. Circle 15, Room No. 354, 1/429/23, Friends Colony, ARA Centre, E-2, Jhandewalan Extn. Gali NI. 1. G. T. Road, New Delhi Shahdara Delhi AADFB533G (APPELLANT) (RESPONDENT) Appellant by Sh. Ravi Jain, CIT DR. Respondent by Sh. A. K. Jain, C.A Date of Hearing 16.08.2016 Date of Pronou…

ACIT, New Delhi vs. M/S. Balaji Perfumes, Delhi

In the result appeals are dismissed

ITA 505/DEL/2010[2001-02]Status: DisposedITAT Delhi19 Oct 2016AY 2001-02

Bench: Shri G. D. Agrawal & Smt Suchitra Kamblei.T.A .No.-505/Del/2010 (A.Y 2001-02) I.T.A .No.-506/Del/2010 (A.Y 2002-03) I.T.A .No.-507/Del/2010 (A.Y 2003-04) I.T.A .No.-508/Del/2010 (A.Y 2004-05) I.T.A. No.-509/Del/2010 (A.Y. 2005-06)

Section 132(1)Section 143Section 143(2)Section 153A

…DELHI BENCH: ‘A’ NEW DELHI BEFORE SHRI G. D. AGRAWAL, VICE PRESIDENT AND SMT SUCHITRA KAMBLE, JUDICIAL MEMBER I.T.A .No.-505/DEL/2010 (A.Y 2001-02) I.T.A .No.-506/DEL/2010 (A.Y 2002-03) I.T.A .No.-507/DEL/2010 (A.Y 2003-04) I.T.A .No.-508/DEL/2010 (A.Y 2004-05) I.T.A. No.-509/DEL/2010 (A.Y. 2005-06) ACIT vs Balaji Perfumes Cent. Circle 15, Room No. 354, 1/429/23, Friends Colony, ARA Centre, E-2, Jhandewalan Extn. Gali NI. 1. G. T. Road, New Delhi Shahdara Delhi AADFB533G (APPELLANT) (RESPONDENT) Appellant by Sh. Ravi Jain, CIT DR. Respondent by Sh. A. K. Jain, C.A Date of Hearing 16.08.2016 Date of Pronou…

Torm Shipping India P.Ltd ( Formerly Known As Orinoco Marine Consultancy India P.Ltd), Mumbai vs. DCIT RG 3(3), Mumbai

In the result, appeal for A

ITA 1272/MUM/2013[2006-07]Status: DisposedITAT Mumbai14 Oct 2016AY 2006-07

Bench: Shri Joginder Singh () & Shri Ashwani Taneja ()

Section 143(2)Section 143(3)Section 147Section 40A(2)(b)

…andate given under the law as also explained by the jurisdictional High Court in the case of CIT vs Jet Airways Ltd (supra) observing as under:- “14. The second line of precedent is reflected in a judgment of the Rajasthan High Court in (CIT v. Shri Ram Singh 306 ITR 343. The Rajasthan High Court construed the words used by Parliament in section 147 particularly the words that the Assessing Officer 'may assess or reassess such income and 8 I.T.A. No.1272/Mum/2013 also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings' under…

ITO, New Delhi vs. M/S. Randeep Investment Pvt. Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 2453/DEL/2014[2004-05]Status: DisposedITAT Delhi16 Aug 2016AY 2004-05

Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: 2004-05 Income Tax Officer, Ward - Vs. M/S. Randeep Investment 15(2), New Delhi Pvt. Ltd., 202, Mohan Place, Local Shopping Complex, C- Block, Saraswati Vihar, New Delhi Gir/Pan :Aaccr0988D (Appellant) (Respondent) Appellant By Sh. F.R. Meena, Sr.Dr Respondent By Sh. Sandeep Sapra, Adv. Date Of Hearing 11.08.2016 Date Of Pronouncement 16.08.2016 Order Per O.P. Kant, A.M.: This Appeal By The Revenue Is Directed Against The Order Dated 01/01/2014 Of Learned Commissioner Of Income-Tax (Appeals)-Xviii, New Delhi For Assessment Year 2004-05 Raising The Following Grounds: I. On The Facts & Circumstances Of The Case, The Learned Commissioner Of Income Tax (Appeals) Has Erred In Deleting The Addition Of Rs. 45,00,000/- Made By The Assessing Officer U/S 68 Of The Income Tax Act Ignoring The Fact That As Per The Information Received From The Investigation Wing Of The Department, The Said Entities Are 2 Ay: 2004-05 Doing No Business Except To Provide Accommodation Entries On Commission Basis. Ii. The Appellant Craves To Be Allowed To Add Any Fresh Grounds Of Appeal And/Or Delete Or Amend Any Of The Grounds Of Appeal.

Section 147Section 68

…elhi High Court has addressed similar issue in para 20 of the order which has already been 6 AY: 2004-05 discussed in earlier paragraphs. Similarly, his reliance on other judgements viz. in case of CIT vs. Jet Airways 331 ITR 236 (Bom); CIT vs. Shri Ram Singh 306 ITR 343 (Raj); and Software Consultants 341 ITR 240 (Del) also supports the case. In the instant case, AO has reopened the assessment pertaining to 3 entries totalling to Rs. 11,61,425/- which has been found to be as explained by him but he has made addition of Rs. 45 lacs on 4 other entries. In view of the decision of Hon'ble Delhi High Court in the cas…

Sandeep Kumar Hissaria ( Prop of M.S, A.T. Textiles), Mumbai vs. ITO 14(3)(4), Mumbai

In the result, appeal stands allowed

ITA 1571/MUM/2012[2006-07]Status: DisposedITAT Mumbai04 Mar 2016AY 2006-07

Bench: Shri Saktijit Dey & Shri Ramit Kochar

For Appellant: Shri Vijay KothariFor Respondent: Shri A. Ramchandran
Section 143(3)Section 147Section 148

…such proposition, he relied upon the following decisions:– i) CIT v/s Jet Airways India Ltd., 331 ITR 263 (Bom.) ii) Ranbaxy Laboratories Ltd v/s CIT, 336 ITR 136 (Del.) iii) ACIT v/s Major Deepak Mehta, 344 ITR 641 (Chattisgarh) iv) CIT v/s Shri Ram Singh, 306 ITR 343 (Raj.) v) CIT v/s Mohmed Juned Dadani, ITA no.964 of 2011 dated 29.1.2013 (Guj.) 5. Learned Departmental Representative relied upon the reasoning of the learned Commissioner (Appeals). 4 Shri Sandeep Kumar Hissaria 6. We have considered the submissions of the parties and perused the material available on record. We have also carefully applied…

DCIT, New Delhi vs. M/S. Nandan Auto Tech Ltd, New Delhi

ITA 3166/DEL/2009[2000-01]Status: DisposedITAT Delhi30 Sept 2015AY 2000-01

Bench: Shri I.C. Sudhir & Shri Laxmi Prasad Sahu

For Appellant: S/Shri Ved Jain, Ashish Chadha, AshishFor Respondent: Shri R.L. Meena, Sr. DR
Section 143(3)Section 148

…(Del) (vi) CIT vsAdhunikNiryatIspat Co. 63 DTR 212 (Del) (vii) CIT vs Software Consultants 341 ITR 240 (Del) (viii) CIT vs Narayan Securities P Ltd (Del) ITA no. 40/2009 dt. 3-6- 2011 (ix) ACIT vsMaj Deepak Mehta 344 ITR 641 (Chatis) (x) CIT vsShri Ram Singh 306 ITR 343 (Raj) (xi) Double Dot Finance Ltd vs CIT (Bom) ITA no. 856/2011 (xii) CIT vs ICICI Bank Ltd 349 ITR 482 (Bom) 26. We have heard both the parties and perused the assessment order and the order passed by the learned CIT(A) and also gone through the paper book on record. The learned AR has raised a legal issue regarding no addition being made in th…

Sri N Govindaraju vs. The Income Tax Officer

Appeal stands disposed of

ITA/504/2013HC Karnataka01 Jul 2015

Bench: S.SUJATHA,VINEET SARAN

Section 143(1)Section 147Section 148Section 45(2)

…ase of Majinder Singh Kang Vs CIT (2012) CIT 344 ITR 358 has, after noticing that the earlier judgments [of the Punjab & Haryana and Rajasthan High Courts in the cases of CIT Vs Atlas Cycle Industries (1989) 180 ITR 319 and CIT Vs Shri Ram Singh (2008) 306 ITR 343 respectively] were rendered prior to the insertion of Explanation 3 to section 147 of the Act, held that “a plain reading of Explanation 3 to S.147 clearly depicts that the Assessing Officer has power to make additions even on the ground that reassessment notice might not have been issued in the case during the reassessment proceedings, if…

Income Tax Officer, International Taxation, Bangalore vs. M/S Pharma Arc Consulting Services Gmbh, Bangalore

In the result, the appeal is allowed in terms indicated above

ITA 1382/BANG/2014[2010-11]Status: DisposedITAT Bangalore13 Apr 2015AY 2010-11
Section 133ASection 143(3)Section 147Section 148

…Airways (331 ITR 236), Hon’ble Bombay High Court has, reiterating this legal position, observed as follows:- ”19. The second line of precedent is reflected in a judgment of the Rajasthan High Court in CIT vs. Shri Ram Singh (2008) 217 CTR (Raj) 345 : (2008) 306 ITR 343 (Raj). The Rajasthan High Court construed the words used by Parliament in s. 147 particularly the words that the Assessing Officer ‘may assess or reassess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings’ under s.147. The Rajasthan High…

Late Sri. K.B. Khaleel, Hassan vs. ITO, Hassan

In the result, the appeals by the Assessee are dismissed

ITA 239/BANG/2011[2004-05]Status: DisposedITAT Bangalore05 Mar 2015AY 2004-05

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz

For Appellant: Shri Narendra Sharma, AdvocateFor Respondent: Shri P. Dhivahar, Jt. CIT(DR)
Section 131Section 68

…explain the source of source. In this regard, reliance was placed by him on the decision of Hon’ble Supreme Court in Daulat Ram Rawatmull, 87 ITR 349 (SC). He also placed reliance on the decision of Hon’ble Rajasthan High Court in Kanhaiyalal Jangid v. ACIT, 217 CTR 345 (Raj), wherein it was held that once the assessee files confirmation from the creditor and produces the creditor before the AO, and where the creditor confirms giving of loan to the assessee; no addition u/s. 68 could be made in the hands of assessee on the ground that creditor could not satisfactorily explain the source of loan. The Hon’ble Raj…

The Commissioner of Income Tax II vs. Software Consultants

ITA/914/2010HC Delhi17 Jan 2012
Section 131Section 148Section 260ASection 263

…s escaped assessment and which comes to his notice subsequently in the course of the proceedings under the section." 11. Thereafter, the High Court referred to the decision of the Rajasthan High Court in the case of CIT versus Shri Ram Singh, (2008) 306 ITR 343 (Raj.) in which it has been observed as under: “It is only when, in proceedings under section 147 the Assessing Officer, assesses or reassesses any income chargeable to tax which has escaped assessment for any assessment year, with respect to which he had 'reason to believe' to be so, then only, in addition, he can also put to tax, th…