Prashant S. Joshi v. ITO

324 ITR 154High Court2010#538 most cited

What is Prashant S. Joshi v. ITO authority for?

Reasons recorded under Section 148 for reopening an assessment are jurisdictional facts that form the sole basis for assuming power and cannot be changed, supplemented, or corrected later. Such reasons must be based on fresh tangible material indicating income escapement.

179

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2016 to 2026.

Also referred to as

Prashant S. Joshi v. ITO · 324 ITR 154 · Section 147 · Section 148 · reasons recorded · reassessment validity · reasons cannot be supplemented · tangible material · jurisdictional facts · reopening of assessment · escapement of income

Also reported as

189 Taxmann 1190 CTR 166

Sections most often in play

Section 147Section 148Section 143(3)Section 68Section 151Section 153CSection 132(4)Section 143(1)
Read the full judgment

Issues it is cited on

books or books of accountsection 2(12a)section 2(40)section 148(2)going concerndumb documentsborrowed satisfactionescapement of incometangible materialkelvinatorreopening of assessmentreason to believe

Judgments citing Prashant S. Joshi v. ITO

DCIT, Circle-17(1), Hyd, Hyderabad vs. Eci Engineering & Construction Co. Ltd., Hyd, Hyderabad

In the result, the appeal of the assessee is allowed

ITA 930/HYD/2016[2006-07]Status: DisposedITAT Hyderabad15 May 2023AY 2006-07

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2006-07 The Asst. Commissioner Of Vs. M/S. Eci Engineering & Income Tax, Construction Co., Ltd., Circle 17(1), Hyderabad. Hyderabad. Pan : Aaace74411G (Appellant) (Respondent) Ita 968/Hyd/2016 Assessment Year 2006-07 M/S. Eci Engineering & Vs. The Asst. Commissioner Of Construction Co., Ltd., Income Tax, Hyderabad. Circle 2(2), Hyderabad. Pan : Aaace74411G (Appellant) (Respondent) Assessee By: Shri K.C. Devdas Revenue By: Shri K.P.R.R. Murthy. Date Of Hearing: 27.03.2023 Date Of Pronouncement: 15.05.2023 O R D E R Per Laliet Kumar, J.M. These Two Appeals Filed By The Assessee & The Revenue, Respectively, Are Directed Against The Order Of Commissioner Of Income Tax (Appeals) – 5, Hyderabad Dated 30.03.2016 For The Assessment Year 2006-07. 2. The Abridged Grounds Raised By The Assessee In Ita No.968/Hyd/2016 Read As Under : “1. The Order Of Ld.Cit(A) - 5 Is Erroneous In Law In Facts & In Law. 2. The Ld.Cit(A) Erred In Upholding The Decision Of The Ld.Ao In Treating Sale Of Partly Paid Up Shares As Fully Paid & Confirming The Addition Of Rs.50,14,625/- As Long Term Capital Gain. 3. The Ld.Cit(A) Erred In Confirming The Addition Of Rs.27,69,422/- Towards Difference In Interest. 4. Further, The Ld.Cit(A) Failed To Observe That The Notes To Financial Statements Clearly Mentioned The Interest Income Which Pertained To The Previous Year & Accordingly Erred In Upholding The Action Of The Ld.Ao In Assessing The Difference In Interest Of Rs.27,69,422/-. 5. The Ld.Cit(A) Erred In Confirming The Addition Of Difference Of Prior Period Income Of Rs.1,26,71,371/-.”

For Appellant: Shri K.C. DevdasFor Respondent: Shri K.P.R.R. Murthy
Section 143(1)Section 143(3)Section 148Section 40

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘ A ‘ Bench, Hyderabad Before Shri R.K. Panda, Accountant Member AND Shri Laliet Kumar, Judicial Member Assessment Year: 2006-07 The Asst. Commissioner of Vs. M/s. ECI Engineering & Income Tax, Construction Co., Ltd., Circle 17(1), Hyderabad. Hyderabad. PAN : AAACE74411G (Appellant) (Respondent) ITA 968/Hyd/2016 Assessment Year 2006-07 M/s. ECI Engineering & Vs. The Asst. Commissioner of Construction Co., Ltd., Income Tax, Hyderabad. Circle 2(2), Hyderabad. PAN : AAACE74411G (Appellant) (Respondent) Assessee by: Shri K.C. Devdas Rev…

DCIT, CC-2, Jaipur vs. Shri Vimal Chand Surana(HUF), Jaipur

In the result, the appeal of the revenue stands dismissed

ITA 62/JPR/2020[2008-09]Status: DisposedITAT Jaipur06 Mar 2023AY 2008-09

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri S.R. Sharma (CA) &For Respondent: Shri A.S. Nehra (Addl.CIT) fu/kZkfjrh dh vksj ls@
Section 139Section 143Section 147Section 150(2)Section 153CSection 2Section 250Section 69

…rusal of the above provided reasons for re-opening are the only reasons that can be considered when the formation of belief of “Income chargeable to tax has escaped assessment” is challenged. The Hon’ble Bombay High court in Prashant S. Joshi v. ITO [2010] 324 ITR 154 (Bom)held that “The basic postulate which underlines section 147 is the formation of the belief by the Assessing Officer that any income chargeable to tax has escaped assessment for any assessment year. The Assessing Officer must have reason to believe that such is the case before he proceeds to issue a notice under section 147. The reasons wh…

Ballela Sai Sree, Nellore vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 9/HYD/2023[2018-19]Status: DisposedITAT Hyderabad28 Feb 2023AY 2018-19

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Karthik Raghupathi Reddy Padi, Hyderabad vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 83/HYD/2023[2019-20]Status: DisposedITAT Hyderabad28 Feb 2023AY 2019-20

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Kaushik Reddy Padi, Hyderabad vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 82/HYD/2023[2018-19]Status: DisposedITAT Hyderabad28 Feb 2023AY 2018-19

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Kaushik Reddy Padi, Hyderabad vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 81/HYD/2023[2017-18]Status: DisposedITAT Hyderabad28 Feb 2023AY 2017-18

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Sainath Reddy Padi, Hyderabad vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 80/HYD/2023[2018-19]Status: DisposedITAT Hyderabad28 Feb 2023AY 2018-19

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Ballela Sai Sree, Nellore vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 8/HYD/2023[2017-18]Status: DisposedITAT Hyderabad28 Feb 2023AY 2017-18

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Sainath Reddy Padi, Hyderabad vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 79/HYD/2023[2017-18]Status: DisposedITAT Hyderabad28 Feb 2023AY 2017-18

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Rajesh Kumar Surana, R R Dist vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 78/HYD/2023[2019-20]Status: DisposedITAT Hyderabad28 Feb 2023AY 2019-20

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Saritha Agarwal, Hyderabad vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 77/HYD/2023[2018-19]Status: DisposedITAT Hyderabad28 Feb 2023AY 2018-19

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Saritha Agarwal, Hyderabad vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 76/HYD/2023[2017-18]Status: DisposedITAT Hyderabad28 Feb 2023AY 2017-18

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Saritha Agarwal, Hyderabad vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 75/HYD/2023[2016-17]Status: DisposedITAT Hyderabad28 Feb 2023AY 2016-17

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Andem Sandhya Reddy, Ranga Reddy vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 7/HYD/2023[2019-20]Status: DisposedITAT Hyderabad28 Feb 2023AY 2019-20

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Borra Praveena, Hyderabad vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 6/HYD/2023[2019-20]Status: DisposedITAT Hyderabad28 Feb 2023AY 2019-20

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Isanaka Masthan Reddy, Hyderabad vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 5/HYD/2023[2019-20]Status: DisposedITAT Hyderabad28 Feb 2023AY 2019-20

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Vamsi Krishna Reddy Goteke, Hyderabad vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 46/HYD/2023[2018-19]Status: DisposedITAT Hyderabad28 Feb 2023AY 2018-19

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Vamsi Krishna Reddy Goteke, Hyderabad vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 45/HYD/2023[2017-18]Status: DisposedITAT Hyderabad28 Feb 2023AY 2017-18

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Vamsi Krishna Reddy Goteke, Hyderabad vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 44/HYD/2023[2016-17]Status: DisposedITAT Hyderabad28 Feb 2023AY 2016-17

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…

Gavireddygari Harikishore Reddy, Ananthapur vs. ACIT, Central Circle-2(3), Hyderabad

In the result, the appeal of assessee in ITA

ITA 4/HYD/2023[2018-19]Status: DisposedITAT Hyderabad28 Feb 2023AY 2018-19

Bench: Shri R.K. Panda & Shri Laliet Kumarsl.No.

Section 132Section 139(1)Section 153CSection 69

…nt. At the stage of the issuing of the notice under Section 148 of the Act it is not necessary for the Assessing officer to establish beyond doubt that income indeed has escaped assessment.” (Emphasis supplied) 3. In the case of Prashant S.Joshi vs ITO [2010] 324 ITR 154 (Bombay), the Hon’ble High court held as under: “9. Section 147 provides that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may subject to the provisions of sections 148 to 163, assess or reassess such income and also any other income chargeable to tax, which ha…