Phool Chand Bajrang Lal v. ITO

M/S. Dharampal Satyapal Ltd., New Delhi vs. DCIT, New Delhi

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

Bench: Shri A.T. Varkey & Shri Prashant Maharishi

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘B’: NEW DELHI) BEFORE SHRI A.T. VARKEY, JUDICIAL MEMBER and SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA No.5611/Del./2013 (ASSESSMENT YEAR : 2004-05) DCIT, Central Circle 4, vs. M/s. Dharampal Satyapal Ltd., New Delhi. 1711, S.P. Mukherjee Marg, Delhi – 110 006. (PAN No. AAACD0132H) ITA No.5581/Del./2013 (ASSESSMENT YEAR : 2004-05) M/s. Dharampal Satyapal Ltd., vs. DCIT, Central Circle 4, 1711, S.P. Mukherjee Marg, New Delhi. Delhi – 110 006. (PAN : AAACD0132H) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri R.S. Singhvi, CA and Shri Satyajeet Goel, CA REVE…

Smt. Priya vs. ACIT Cir, 2

In the result, appeal of the assessee is allowed

Bench: Shri J. Sudhakar Reddyay: 2001-02 Smt. Priya Vs. Acit, Circle 2 C/O Sh. Vinod Kumar Goel Meerut Advocate 282, Boundary Road Civil Lines, Meerut Pan: Aldpk 2963 N A N D Ay: 2001-02 Smt. Priya Vs. Acit, Circle 2 Meerut Meerut (Appellant) (Respondent)

…n as "wholly vague and indefinite, far-fetched and removed" which could not afford any basis for entertaining reasonable belief to initiate reassessment proceedings u/s 147/148. 2) In the second category are cases like Phool Chnnd Bajrang Lal & Another Vs ITO 203 ITR 456 (S.C.), where Income Tax Officer, subsequent to the completion of original assessment and on making an inquiry from the Income Tax Officer of the creditor, found that loan of Rs.50,OOO shown in account of the creditor with the assessee was really not loan paid in cash but only hawala to cover up a bogus transaction. The provisions of Section 147…

Smt. Priya, Meerut vs. ACIT, Meerut

In the result, appeal of the assessee is allowed

Bench: Shri J. Sudhakar Reddyay: 2001-02 Smt. Priya Vs. Acit, Circle 2 C/O Sh. Vinod Kumar Goel Meerut Advocate 282, Boundary Road Civil Lines, Meerut Pan: Aldpk 2963 N A N D Ay: 2001-02 Smt. Priya Vs. Acit, Circle 2 Meerut Meerut (Appellant) (Respondent)

…n as "wholly vague and indefinite, far-fetched and removed" which could not afford any basis for entertaining reasonable belief to initiate reassessment proceedings u/s 147/148. 2) In the second category are cases like Phool Chnnd Bajrang Lal & Another Vs ITO 203 ITR 456 (S.C.), where Income Tax Officer, subsequent to the completion of original assessment and on making an inquiry from the Income Tax Officer of the creditor, found that loan of Rs.50,OOO shown in account of the creditor with the assessee was really not loan paid in cash but only hawala to cover up a bogus transaction. The provisions of Section 147…

M/S Veena Enterprises Ltd., New Delhi vs. ACIT, New Delhi

In the result appeal of the assessee is allowed

Bench: Sh. N. K. Saini, Am & Sh. H. S. Sidhu, Jm Ita No. 2517/Del/2013 : Asstt. Year : 2004-05 M/S Veena Enterprises Ltd., Vs Assistant Commissioner Of 81, Vigyan Vihar, Income Tax, Circle 17(1), New Delhi-110092 New Delhi (Appellant) (Respondent) Pan No. Aaacv3918K Assessee By : Sh. Ajay Vohra, Sr. Adv. Sh. Rohit Garg, Fca Sh. Deepesh Jain, Ca & Sh. Udit Naresh, Adv. Revenue By: Sh. J. P. Chandrakar, Sr. Dr Date Of Hearing : 15.07.2015 Date Of Pronouncement : 09.10.2015 Order Per N.K. Saini, A.M. This Is An Appeal By The Assessee Against The Order Dated 22.01.2013 Of The Ld. Cit(A)-19, New Delhi.

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’, NEW DELHI Before Sh. N. K. Saini, AM And Sh. H. S. Sidhu, JM ITA No. 2517/Del/2013 : Asstt. Year : 2004-05 M/s Veena Enterprises Ltd., Vs Assistant Commissioner of 81, Vigyan Vihar, Income Tax, Circle 17(1), New Delhi-110092 New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACV3918K Assessee by : Sh. Ajay Vohra, Sr. Adv. Sh. Rohit Garg, FCA Sh. Deepesh Jain, CA & Sh. Udit Naresh, Adv. Revenue by: Sh. J. P. Chandrakar, Sr. DR Date of Hearing : 15.07.2015 Date of Pronouncement : 09.10.2015 ORDER PER N.K. SAINI, A.M. This is an appeal by the Assessee against the or…

Pr. Commissioner of Income Tax-4 vs. G & G Pharma India Ltd

The appeal is dismissed

…, in similar circumstances, the appeal of the Revenue was allowed and the matter was remanded to the ITAT for examination of the case on merits. He also relied upon the decision of the Supreme Court in Phool Chand Bajrang Lal v. Income-tax Officer (1993) 203 ITR 456 SC. The main thrust of the submission of Mr. Sawhney is that, as was in the case of India Terminal Connector System (supra), in the present case as well, there was specific information regarding the name of the entry provider, the date on which the entry was taken, the cheque details as well as the amount credited to the account of the Asses…

Pr. Commissioner of Income Tax-4 vs. G & G Pharma India Ltd

The appeal is dismissed

…, in similar circumstances, the appeal of the Revenue was allowed and the matter was remanded to the ITAT for examination of the case on merits. He also relied upon the decision of the Supreme Court in Phool Chand Bajrang Lal v. Income-tax Officer (1993) 203 ITR 456 SC. The main thrust of the submission of Mr. Sawhney is that, as was in the case of India Terminal Connector System (supra), in the present case as well, there was specific information regarding the name of the entry provider, the date on which the entry was taken, the cheque details as well as the amount credited to the account of the Asses…

Smt. Meera Kapoor vs. Commissioner Of Income Tax

…me, contending in third appellate proceedings that the notice under Section 148 issued to her on 28.03.2002 by the ACIT Circle 30(1), New Delhi was illegal and void ab initio. The Revenue has relied on the judgment of Phool Chand Bajrang Lal v. ITO (1993) 203 ITR 456 (SC) wherein the following was stated by the Court: "..We have to look to the purpose and intent of the provisions. One of the purposes of Section 147, appears to us to be, to ensure that a party cannot get away by wilfully making a false or untrue statement at the time of original assessment and when that falsity comes to notice, to turn ar…

Contel Medicare Systems Pvt Ltd

…assessment under section 147 of the Act. Moreover, the information is specific giving the details of the branch, the name of the account holder and the date of cheque and cheque number. Hon’ble Supreme Court in the case of Phool Chand Bajrang Lal Vs. ITO 203 ITR 456 (SC) has held as under :- “ Since the belief is that of the Income-tax Officer, the sufficiency of the reasons for forming the belief is not for the court to judge, but it is open to an assessee to establish that there in fact existed no belief or that the belief was not a bonafide one or was based on vague, irrelevant and non-specific…

Contel Medicare Systems Pvt Ltd

…assessment under section 147 of the Act. Moreover, the information is specific giving the details of the branch, the name of the account holder and the date of cheque and cheque number. Hon’ble Supreme Court in the case of Phool Chand Bajrang Lal Vs. ITO 203 ITR 456 (SC) has held as under :- “ Since the belief is that of the Income-tax Officer, the sufficiency of the reasons for forming the belief is not for the court to judge, but it is open to an assessee to establish that there in fact existed no belief or that the belief was not a bonafide one or was based on vague, irrelevant and non-specific…

CIT vs. India Terminal Connector System Ltd

…ITA No. 643/2011 Page 1 of 12 $~17. * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 643/2011 CIT ..... Appellant Through Mr. Amit Shrivastava, Advocate for Mr. Kamal Sawhney, Sr. Standing Counsel. versus INDIA TERMINAL CONNECTOR SYSTEM LTD. ..... Respondent Through Dr. Rakesh Gupta, Mr. Ashwani Taneja & Ms. Rani Kiyala, Advocates.…

ITA 643/2011 vs. India Terminal Connector System Ltd

…ITA No. 643/2011 Page 1 of 12 $~17. * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 643/2011 CIT ..... Appellant Through Mr. Amit Shrivastava, Advocate for Mr. Kamal Sawhney, Sr. Standing Counsel. versus INDIA TERMINAL CONNECTOR SYSTEM LTD. ..... Respondent Through Dr. Rakesh Gupta, Mr. Ashwani Taneja & Ms. Rani Kiyala, Advocates.…

M/S Atma Ram Properties Private Limited

…inference and if he did not do so the income which has escaped assessment cannot be brought to tax under section 34(1)(a)” 20. The aforesaid decision of the Supreme Court was elucidated and explained in Phool Chand Bajral Lal versus I.T.O., [1993] 203 ITR 456 (SC) and it was held that where the Assessing Officer gets fresh information that was not available at the time of original assessment, i.e. after the conclusion of the original assessment proceedings, which enables him to form a reasonable belief that income had escaped assessment because of omission or failure of the assessee to disclose f…

Central Warehousing Corporaiton vs. ACIT

The appeals stand disposed of in the aforesaid

…nal decision made against the Revenue in respect of questions that directly arose for decision in earlier 2011:DHC:229-DB depending on their changing moods. ( See CIT Vs . Rao Thakur Narayan Singh [1965] 56 ITR 234. In Phool Chand Bajrang Lal, [1993] 203 ITR 456 their Lord-ships have held while interpreting Section 147 as it stood in the assessment year 1963-64 :- "An Income-tax Officer acquires jurisdiction to reopen an assessment under Section 147(a) read with Section 148 of the Income-tax Act, 1961, only if on the basis of specific, reliable and relevant information coming to his possess…

Commissioner of Income Tax vs. Mr.Vipin Batra

Bench: HON'BLE MR. JUSTICE VIKRAMAJIT SEN

…material is not to be considered because it is open to the assessee to prove that the facts assumed by the Assessing Officer in the notice were erroneous. 11. Much earlier, in Phool Chand Bajrang Lal & Anr. v. Income-tax Officer & Anr., (1993) 203 ITR 456, the Supreme Court reviewed the entire case law and concluded that: (a) There must be some specific, reliable and relevant information available with the Assessing Officer. (b) The Assessing Officer must have reasons, which he must record, that income has escaped assessment. ITA No.1189/2006…