Oriental Insurance Co. v. CIT

DELIGHT PROPCON PRIVATE LIMITED,DELHI vs. ACIT, CENTRAL CIRCLE-2, FARIDABAD

In the result, Appeal of the Assessee is partly allowed

Bench: Shri S. Rifaur Rahman & Shri Yogesh Kumar U.S.M/S Delight Propcon Private Vs Assistant Commissioner Of Limited Shop No. 68, Building Income Tax, No. 38, Surya House, Near Central Circle-Ii, New Cgo Pnb Devil Road, Khanpur, Complex, N. H. Iv, Nit New Delhi Faridabad, Haryana-121001 Pan: Aadcd6203E Appellant Respondent Assessee By Sh. S. S. Nagar, Ca Revenue By Sh. Suman Malik, Cit(Dr) Date Of Hearing 08/09/2025 Date Of Pronouncement 26/11/2025 Order

…tted that the Ld. A.O. committed error in framing the assessment against the Assessee who is a purchaser of the property. The Ld. Counsel has also relied on Judgment of Jurisdictional High Court in the case of Oriental Insurance Company Vs. CIT reported in 378 ITR 421 and the order of the Co-ordinate Bench of the Tribunal in the case of M/s Sharan Svadha LLP. in ITA No. 189/Del/2019 and sought for allowing Ground No. 6 of the Assessee. 5. Per contra, the Ld. Department's Representative submitted that the assessment has been rightly reopened and the addition has been made on its merits and the Ground No. 6 o…

PR.COMMISSIONER OF INCOME TAX DELHI-04 vs. M/S GANESH GANGA INSVESTMENTS PVT LTD

Bench: HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR,HON'BLE MR. JUSTICE YASHWANT VARMA

…t been fulfilled. Likewise in CIT v. Independent Media P. Limited (supra) the court in similar circumstances invalidated the initiation of the proceedings to reopen the assessment under section 147 of the Act. 32. In Oriental Insurance Co. v. CIT (2015) 378 ITR 421 (Delhi) it was held that "therefore, even if it is assumed that, in fact, the assessee's income has escaped assessment, the Assessing Officer would have no jurisdiction to assess the same if his reasons to believe were not based on any cogent material. In absence of the jurisdictional pre-condition being met to reopen the assessment, the qu…

RAGHUBIR SINGH PUNIA,NEW DELHI vs. ITO, WARD 30(8), NEW DELHI., NEW DELHI

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

Bench: Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A No.2252/Del/2024 िनधा"रणवष"/Assessment Year: 2012-13

…se in CIT-4 v. Independent Media P. Limited (supra) the Court in similar circumstances invalidated the initiation of the proceedings to reopen the assessment under Section 147 of the Act. 32. In Oriental Insurance Company Limited v. Commissioner of Income Tax 378 ITR 421 (Del) it was held that "therefore, even if it is assumed that, in fact, the Assessee"s income has escaped assessment, the AO would have no jurisdiction to assess the same if his 21 I.T.A.No.2252/Del/2024 reasons to believe were not based on any cogent material. In absence of the jurisdictional pre-condition being met to reopen the assessment, t…

CHAMPION BUILDER PVT. LTD.,KOLKATA vs. ITO,WARD-1(3), GURGAON

In the result, both the appeals of the assessee are partly

Bench: Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A Nos.462 & 463/Del/2024 िनधा"रणवष"/Assessment Years: 2015-16 & 2016-17

…se in CIT-4 v. Independent Media P. Limited (supra) the Court in similar circumstances invalidated the initiation of the proceedings to reopen the assessment under Section 147 of the Act. 32. In Oriental Insurance Company Limited v. Commissioner of Income Tax 378 ITR 421 (Del) it was held that "therefore, even if it is assumed that, in fact, the Assessee"s income has escaped assessment, the AO would have no jurisdiction to assess the same if his reasons to believe were not based on any cogent material. In absence of the jurisdictional pre- condition being met to reopen the assessment, the question of assessing or…

SANTOSH KHUNTETA,DELHI vs. ITO, WARD-29(5), DELHI

In the result, Appeal filed by the assessee is allowed

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

…vii) CIT vs SFIL Stock Broking Ltd 325 ITR 285, Delhi High Court; (viii)Sarthak Securities Co. (P).Ltd vs ITO, 329 ITR 110, (Delhi HC); (ix) PCIT vs RMG Poly Vinyl (1) Ltd Delhi High Court; (x) Oriental Insurance Company Limited v. Commissioner of Income Tax 378 ITR 421 (Del). 7 Santosh Khunteta Vs. ITO 5. Per contra, the Ld. Departmental Representative submitted that the notice dated 31st March, 2010 has been issued u/s 148 of the Act by rectifying the mistakes in issuing the notice dated 29/03/2010 and the subsequent notice dated 31/03/2010 was issued well within the limitation and mere by issuing the secon…

NISHA GOEL,DELHI vs. INCOME TAX OFFICER, WARD 52(3), WARD

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

Bench: Shri Shamim Yahya & Shri Challa Nagendra Prasadिनधा"रणवष"/Assessment Year: 2012-13

…se in CIT-4 v. Independent Media P. Limited (supra) the Court in similar circumstances invalidated the initiation of the proceedings to reopen the assessment under Section 147 of the Act. 32. In Oriental Insurance Company Limited v. Commissioner of Income Tax 378 ITR 421 (Del) it was held that "therefore, even if it is assumed that, in fact, the Assessee"s income has escaped assessment, the AO would have no jurisdiction to assess the same if his reasons to believe were not based on any cogent material. In absence of the jurisdictional pre- condition being met to reopen the assessment, the question of assessing or…

DCIT, CC-15, NEW DELHI vs. BDR BUILDERS & DEVELOPERS P. LTD., NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Usasstt. Year: 2012-13 Dcit, Vs. Bdr Builders & Developers P. Ltd,B- Central Circle-15, 393, Zakir Nagar So, South East Delhi, New Delhi New Delhi-1100025 (Appellant) (Respondent) Pan No. Assessee By : Dr. Rakesh Gupta, Adv. Revenue By : Sh. Kanv Bali, Sr. Dr Date Of Hearing: 28.02.2023 Date Of Pronouncement: 16.03.2023

…se in CIT-4 v. Independent Media P, Limited (supra) the Court in similar circumstances invalidated the initiation of the proceedings to reopen the assessment under Section 147 of the Act. 32. In Oriental Insurance Company Limited v. Commissioner of Income Tax 378 ITR 421 (Del) it was held that "therefore, even if it is assumed that, in fact, the Assessee's income has escaped assessment, the AO would have no jurisdiction to assess the same if his reasons to believe were not based on any cogent material. In absence of the jurisdictional pre-condition being met to reopen the assessment, the question of assessing or…

DIYA INFRASTRUCTURE PVT. LTD.,DELHI vs. ITO, WARD- 7(3), NEW DELHI

In the result, the appeal of the assessee is allowed in terms indicated herein above

Bench: Shri Kul Bharat[Assessment Year : 2007-08] Diya Infrastructure Pvt.Ltd., Vs Ito, 1373, Rani Bagh, Shakur Ward-7(3), Basti, Delhi-110034. New Delhi. Pan-Aaccd3991L Appellant Respondent Appellant By Ms. Rano Jain, Adv. & Ms. Mansi Jain, Ca Respondent By Shri Sanjay Nargas, Sr.Dr Date Of Hearing 15.02.2023 Date Of Pronouncement 16.03.2023

…must be discernible. The reasons have to be made explicit. It is only the reasons that can enable the reviewing authority to discern how the officer formed his reasons to believe. As explained in Oriental Insurance Company v. Commissioner of Income Tax [2015] 378 ITR 421 (Delhi), "the prima facie formation of belief should be rational, coherent and not exfacie incorrect and contrary to what is on record". A rubberstamp reason can never take the character of 'reasons to believe', as explained by the Supreme Court in Union of India v. Mohan Lal Kapoor (1973) 2 SCC 836. In Dilip N Shroff v. CIT (2007) 6 SCC 329, the…

SASTVIJAY INVESTMENT & CONSULTANCY SERVICES P.LTD,NEW DELHI vs. ITO, WARD-22(4), NEW DELHI

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

Bench: Shri R.K. Panda & Shri Vijay Pal Rao

…se in CIT-4 v. Independent Media P. Limited (supra) the Court in similar circumstances invalidated the initiation of the proceedings to reopen the assessment under Section 147 of the Act. 32. In Oriental Insurance Company Limited v. Commissioner of Income Tax 378 ITR 421 (Del) it was held that "therefore, even if it is assumed that, in fact, the Assessee‟ s income has escaped assessment, the AO would have no jurisdiction to assess the same if his reasons to believe were not based on any cogent material. In absence of the jurisdictional pre-condition being met to reopen the assessment, the question of assessing or…

R.N. KHEMKA ENTERPRISES (P) LTD.,DELHI vs. ITO WARD- 20(3), NEW DELHI

In the result, the appeal filed by the assessee is

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2011-12]

…se in CIT-4 v. Independent Media P. Limited (supra) the Court in similar circumstances invalidated the initiation of the proceedings to reopen the assessment under Section 147 of the Act. 32. In Oriental Insurance Company Limited v. Commissioner of Income Tax 378 ITR 421 (Del) it was held that "therefore, even if it is assumed that, in fact, the Assessee‟s income has escaped assessment, the AO would have no jurisdiction to assess the same if his reasons to believe were not based on any cogent material. In absence of the jurisdictional pre- Act would not arise." 33. In Rustagi Engineering Udyog (P) Limited (supra)…