PCIT v. RMG Polyvinyl (I) Ltd.

ITO Ward - 4, Rohtak vs. Surender Dalal, Rohtak

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

Bench: Shri G.S. Pannu, Hon’Ble & Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A No.7714/Del/2019 िनधा"रणवष"/Assessment Year: 2009-10 बनाम Ito, Surender Dalal, Ward-4, Vs. Dalal Bhawan, Aayakar Bhawan, Rohtak, Haryana Near Petrol Pump, Gohana Road, Rohtak, Haryana. Pan No.Aqlps2166C अपीलाथ" Appellant ""यथ"/Respondent & आ.अ.सं/.I.T.A No.7490/Del/2019 िनधा"रणवष"/Assessment Year: 2009-10 बनाम Surender Dalal, Ito, Dalal Bhawan, Vs. Ward-4, Near Petrol Pump, Aayakar Bhawan, Gohana Road, Rohtak, Haryana Rohtak, Haryana. Pan No.Aqlps2166C अपीलाथ" Appellant ""यथ"/Respondent

…Ltd. 248 CTR 33 (Del.); 2. CIT vs. Multiplex Trading & Industrial Co. Ltd. 63 taxmann.com 170 (Del.); 5. Ld. Counsel for the assessee also placed reliance on the following decisions in support of the above contentions: - 1. PCIT vs. RMG Polyvinyl (I) Ltd. 396 ITR 5 (Del.); I.T.A.Nos.7714 & 7490/Del/2019 2. Hafizuddin Hazi vs. ITO, Ward-48(2), New Delhi in ITA NO.3690/Del/2016 dated 16.02.2022, ITAT Delhi; 3. Nadeem Hasan vs. ITO, Ward-46(4), New Delhi in ITA No.445/Del/2020 dated 18.05.2022 ITAT, Delhi; 4. Shri Jagat Singh vs. ITO, Ward-1(3), Ghaziabad in ITA No.2749/Del/2018 dated 04.09.2018. 6. On th…

Surender Dalal, Rohtak vs. ITO Ward - 4, Rohtak

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

Bench: Shri G.S. Pannu, Hon’Ble & Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A No.7714/Del/2019 िनधा"रणवष"/Assessment Year: 2009-10 बनाम Ito, Surender Dalal, Ward-4, Vs. Dalal Bhawan, Aayakar Bhawan, Rohtak, Haryana Near Petrol Pump, Gohana Road, Rohtak, Haryana. Pan No.Aqlps2166C अपीलाथ" Appellant ""यथ"/Respondent & आ.अ.सं/.I.T.A No.7490/Del/2019 िनधा"रणवष"/Assessment Year: 2009-10 बनाम Surender Dalal, Ito, Dalal Bhawan, Vs. Ward-4, Near Petrol Pump, Aayakar Bhawan, Gohana Road, Rohtak, Haryana Rohtak, Haryana. Pan No.Aqlps2166C अपीलाथ" Appellant ""यथ"/Respondent

…Ltd. 248 CTR 33 (Del.); 2. CIT vs. Multiplex Trading & Industrial Co. Ltd. 63 taxmann.com 170 (Del.); 5. Ld. Counsel for the assessee also placed reliance on the following decisions in support of the above contentions: - 1. PCIT vs. RMG Polyvinyl (I) Ltd. 396 ITR 5 (Del.); I.T.A.Nos.7714 & 7490/Del/2019 2. Hafizuddin Hazi vs. ITO, Ward-48(2), New Delhi in ITA NO.3690/Del/2016 dated 16.02.2022, ITAT Delhi; 3. Nadeem Hasan vs. ITO, Ward-46(4), New Delhi in ITA No.445/Del/2020 dated 18.05.2022 ITAT, Delhi; 4. Shri Jagat Singh vs. ITO, Ward-1(3), Ghaziabad in ITA No.2749/Del/2018 dated 04.09.2018. 6. On th…

Shark Packaging (India) Private Limited, Delhi vs. ITO, Ward-23(1), New Delhi

In the result, the appeal of the assessee for AY 2012-13 is partly allowed only on ground no

Bench: Shri Chandra Mohan Garg & Shri Pradip Kumar Kedia

…y of accommodation entries, but no further inquiry was undertaken by assessing officer, said information could not be said to be tangible material per se and, thus, reassessment on said basis was not justified. [Principal CIT vs. RMG Polyvinyl (1) Ltd. (2017) 396 ITR 5 (Del)] (iii) "Prior to the reopening of the assessment", the Assessing Officer has to, applying his mind to the materials concluded that he has reason to believe that income of the Assessee has escaped assessment. Unless that basic jurisdictional requirement is satisfied a post mortem exercise of analyzing materials produced subsequent to the reope…

Shark Packaging (India) Pvt Ltd, New Delhi vs. ITO Ward - 23(1), New Delhi

In the result, the appeal of the assessee for AY 2012-13 is partly allowed only on ground no

Bench: Shri Chandra Mohan Garg & Shri Pradip Kumar Kedia

…y of accommodation entries, but no further inquiry was undertaken by assessing officer, said information could not be said to be tangible material per se and, thus, reassessment on said basis was not justified. [Principal CIT vs. RMG Polyvinyl (1) Ltd. (2017) 396 ITR 5 (Del)] (iii) "Prior to the reopening of the assessment", the Assessing Officer has to, applying his mind to the materials concluded that he has reason to believe that income of the Assessee has escaped assessment. Unless that basic jurisdictional requirement is satisfied a post mortem exercise of analyzing materials produced subsequent to the reope…

Shark Packaging (India) Pvt Ltd, New Delhi vs. ITO Ward - 23(1), New Delhi

In the result, the appeal of the assessee for AY 2012-13 is partly allowed only on ground no

Bench: Shri Chandra Mohan Garg & Shri Pradip Kumar Kedia

…y of accommodation entries, but no further inquiry was undertaken by assessing officer, said information could not be said to be tangible material per se and, thus, reassessment on said basis was not justified. [Principal CIT vs. RMG Polyvinyl (1) Ltd. (2017) 396 ITR 5 (Del)] (iii) "Prior to the reopening of the assessment", the Assessing Officer has to, applying his mind to the materials concluded that he has reason to believe that income of the Assessee has escaped assessment. Unless that basic jurisdictional requirement is satisfied a post mortem exercise of analyzing materials produced subsequent to the reope…

Parminder Singh, Jind vs. ITO, Ward-2, Bhiwani

In the result, appeal of the assessee is allowed

Bench: Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A No.1411/Del/2022 िनधा"रणवष"/Assessment Year: 2010-11 बनाम Parminder Singh Ito H.No.2748, Urban Estate, Vs. Ward-2, Jind, Haryana. Bhiwani. Pan No.Bckps3874B अपीलाथ" Appellant ""यथ"/Respondent

…ssessment proceedings u/s 147 of the Act by the AO and affirmation by the Ld. Commissioner was totally unjustified and therefore deserve quashing, hence ordered accordingly.” 13. The Hon’ble Delhi High Court in the case of Pr. CIT Vs. RMG Polyvinyl (I) Ltd. (396 ITR 5) held as under: “Held, dismissing the appeal, that no link between the tangible material and the formation of the reasons to believe that income had escaped assessment, could be discerned. The information received from the Investigation Wing was not tangible material per se without a further enquiry having been undertaken by the Assessing Officer,…

Rpg Nirman P.Ltd, Meerut vs. DCIT, Central Circle, Meerut

In the result all the captioned appeals of the assessee in ITA Nos

Bench: Shri N.K. Billaiya & Ms Astha Chandra

…Prasad Finvest Pvt Ltd have been repaid by the assessee by March 2018 and no amount was outstanding on the date of the assessment order. 17. It would be pertinent to refer to the decision of het Hon'ble Delhi High Court in the case of RMG Plyvinyl (I) Ltd 396 ITR 5. The relevant findings read as under: “5. As it transpired subsequently there were at least two glaring errors in the above reasons. The first error was that the AO proceeded on the basis that "no return of income is available in the AST database of Income-tax Department. Therefore, it is clear that the assessee has not filed return of income for…

Rpg Nirman (P) Ltd., Meerut vs. DCIT, Central Circle, Meerut

In the result all the captioned appeals of the assessee in ITA Nos

Bench: Shri N.K. Billaiya & Ms Astha Chandra

…Prasad Finvest Pvt Ltd have been repaid by the assessee by March 2018 and no amount was outstanding on the date of the assessment order. 17. It would be pertinent to refer to the decision of het Hon'ble Delhi High Court in the case of RMG Plyvinyl (I) Ltd 396 ITR 5. The relevant findings read as under: “5. As it transpired subsequently there were at least two glaring errors in the above reasons. The first error was that the AO proceeded on the basis that "no return of income is available in the AST database of Income-tax Department. Therefore, it is clear that the assessee has not filed return of income for…

Rpg Nirman (P) Ltd., Meerut vs. DCIT, Central Circle, Meerut

In the result all the captioned appeals of the assessee in ITA Nos

Bench: Shri N.K. Billaiya & Ms Astha Chandra

…Prasad Finvest Pvt Ltd have been repaid by the assessee by March 2018 and no amount was outstanding on the date of the assessment order. 17. It would be pertinent to refer to the decision of het Hon'ble Delhi High Court in the case of RMG Plyvinyl (I) Ltd 396 ITR 5. The relevant findings read as under: “5. As it transpired subsequently there were at least two glaring errors in the above reasons. The first error was that the AO proceeded on the basis that "no return of income is available in the AST database of Income-tax Department. Therefore, it is clear that the assessee has not filed return of income for…

Rpg Nirman (P) Ltd., Meerut vs. DCIT, Central Circle, Meerut

In the result all the captioned appeals of the assessee in ITA Nos

Bench: Shri N.K. Billaiya & Ms Astha Chandra

…Prasad Finvest Pvt Ltd have been repaid by the assessee by March 2018 and no amount was outstanding on the date of the assessment order. 17. It would be pertinent to refer to the decision of het Hon'ble Delhi High Court in the case of RMG Plyvinyl (I) Ltd 396 ITR 5. The relevant findings read as under: “5. As it transpired subsequently there were at least two glaring errors in the above reasons. The first error was that the AO proceeded on the basis that "no return of income is available in the AST database of Income-tax Department. Therefore, it is clear that the assessee has not filed return of income for…

DCIT, Central Circle-8, New Delhi vs. Bhaijee Commodities Pvt. Ltd., Delhi

Bench: Shri Chandra Mohan Garg & Shri Pradip Kumar Kedia

…e all material facts. Similarly, no reference to any adverse material is placed on record to suspect the propriety of share capital issued at par to Shalini Holdings’. Placing reliance on the judgment rendered in the case of Pr. CIT vs. RMG Polyvinyl (I) Ltd. 396 ITR 5 (del.), the Ld. Counsel contended that in the absence of any tangible material whatsoever brought on record, reopening an assessment based on unsupported and generalized information of investigating wing per se is wholly arbitrary exercise of powers and thus untenable. The information provided by the investigation wing to the AO itself is delightfu…

Bhaijee Commodities Pvt. Ltd., New Delhi vs. ACIT Circle-4(2), New Delhi

Bench: Shri Chandra Mohan Garg & Shri Pradip Kumar Kedia

…e all material facts. Similarly, no reference to any adverse material is placed on record to suspect the propriety of share capital issued at par to Shalini Holdings’. Placing reliance on the judgment rendered in the case of Pr. CIT vs. RMG Polyvinyl (I) Ltd. 396 ITR 5 (del.), the Ld. Counsel contended that in the absence of any tangible material whatsoever brought on record, reopening an assessment based on unsupported and generalized information of investigating wing per se is wholly arbitrary exercise of powers and thus untenable. The information provided by the investigation wing to the AO itself is delightfu…