Ratna Trayi Reality Service (P.) Ltd. v. ITO

356 ITR 493High Court2013#5787 most cited

What is Ratna Trayi Reality Service (P.) Ltd. v. ITO authority for?

An Assessing Officer cannot reopen an assessment merely by issuing a notice under section 148 without valid reasons, even if the original assessment was not a scrutiny assessment.

20

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2025.

Also referred to as

Ratna Trayi Reality Service · ITO · section 148 notice · reopening assessment · valid reasons · scrutiny assessment · bonafide belief · escaped assessment

Judgments citing Ratna Trayi Reality Service (P.) Ltd. v. ITO

M/S VINAYAK FINANCIAL CONSULTANTS PRIVATE LIMITED,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE-4(1), KOLKATA

In the result, appeal of the assessee is partly allowed for statistical\npurposes

ITA 2695/KOL/2024[2013-14]Status: DisposedITAT Kolkata10 Jul 2025AY 2013-14
Section 139(1)Section 143(1)Section 147Section 148

…ial may not be\nsufficient to establish conclusive concealment of income, yet such material should be of\nsuch nature as to form a bonafide belief that the income of the assessee has escaped\nassessment.\n12.29 Ratna Trayl Reality Service P. Ltd. Vs ITO [2013]356 ITR 493 (Gul):\nIn this case, previously no scrutiny assessment was framed. Subsequently the AO\nissued a notice under section 148 of the Act\nIt was held in this case that merely because an assessment was not previously\nframed after scrutiny that would not give unlimited right to the AO to reopen the\nassessment by merely Issuing a notice without valld…

VENKATA SAI AGENCIES,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-4(1),, HYDERABAD

In the result, all the three appeals filed by the respective assessees are allowed

ITA 1624/HYD/2017[2010-11]Status: DisposedITAT Hyderabad31 Oct 2022AY 2010-11

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2010-11 Vasu Pharma Distributors Vs. Acit,Circle-4(1) 3-6-516, Street No.6 Hyderabad Vasu Pharma House Himayatnagar Hydrabad-500 029

For Appellant: Shri K.C.Devdas, CAFor Respondent: Shri Kumar Aditya, Sr.AR
Section 143(3)Section 147Section 148Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B’ Bench, Hyderabad Before Shri Rama Kanta Panda, Accountant Member AND Shri Laliet Kumar, Judicial Member Assessment Year: 2010-11 Vasu Pharma Distributors Vs. ACIT,Circle-4(1) 3-6-516, Street No.6 Hyderabad Vasu Pharma House Himayatnagar Hydrabad-500 029 PAN : AACFV3660M (Appellant) (Respondent) Assessment Year: 2010-11 Vasu Agencies Vs. ACIT,Circle-4(1) 3-6-516, Street No.6 Hyderabad Vasu Pharma House Himayatnagar Hydrabad-500 029 PAN : AABFV3596M (Appellant) (Respondent) & Assessment Year: 2010-11 Venkata Sai Agencies Vs. ACIT,Circle-4(1) 3-6-516, Street No.6…

VASU AGENCIES,,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, all the three appeals filed by the respective assessees are allowed

ITA 1623/HYD/2017[2010-11]Status: DisposedITAT Hyderabad31 Oct 2022AY 2010-11

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2010-11 Vasu Pharma Distributors Vs. Acit,Circle-4(1) 3-6-516, Street No.6 Hyderabad Vasu Pharma House Himayatnagar Hydrabad-500 029

For Appellant: Shri K.C.Devdas, CAFor Respondent: Shri Kumar Aditya, Sr.AR
Section 143(3)Section 147Section 148Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B’ Bench, Hyderabad Before Shri Rama Kanta Panda, Accountant Member AND Shri Laliet Kumar, Judicial Member Assessment Year: 2010-11 Vasu Pharma Distributors Vs. ACIT,Circle-4(1) 3-6-516, Street No.6 Hyderabad Vasu Pharma House Himayatnagar Hydrabad-500 029 PAN : AACFV3660M (Appellant) (Respondent) Assessment Year: 2010-11 Vasu Agencies Vs. ACIT,Circle-4(1) 3-6-516, Street No.6 Hyderabad Vasu Pharma House Himayatnagar Hydrabad-500 029 PAN : AABFV3596M (Appellant) (Respondent) & Assessment Year: 2010-11 Venkata Sai Agencies Vs. ACIT,Circle-4(1) 3-6-516, Street No.6…

VASU PHARMA DISTRIBUTORS,,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, all the three appeals filed by the respective assessees are allowed

ITA 1622/HYD/2017[2010-11]Status: DisposedITAT Hyderabad31 Oct 2022AY 2010-11

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2010-11 Vasu Pharma Distributors Vs. Acit,Circle-4(1) 3-6-516, Street No.6 Hyderabad Vasu Pharma House Himayatnagar Hydrabad-500 029

For Appellant: Shri K.C.Devdas, CAFor Respondent: Shri Kumar Aditya, Sr.AR
Section 143(3)Section 147Section 148Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B’ Bench, Hyderabad Before Shri Rama Kanta Panda, Accountant Member AND Shri Laliet Kumar, Judicial Member Assessment Year: 2010-11 Vasu Pharma Distributors Vs. ACIT,Circle-4(1) 3-6-516, Street No.6 Hyderabad Vasu Pharma House Himayatnagar Hydrabad-500 029 PAN : AACFV3660M (Appellant) (Respondent) Assessment Year: 2010-11 Vasu Agencies Vs. ACIT,Circle-4(1) 3-6-516, Street No.6 Hyderabad Vasu Pharma House Himayatnagar Hydrabad-500 029 PAN : AABFV3596M (Appellant) (Respondent) & Assessment Year: 2010-11 Venkata Sai Agencies Vs. ACIT,Circle-4(1) 3-6-516, Street No.6…

POONA CLUB LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 892/PUN/2017[2008-09]Status: DisposedITAT Pune20 Apr 2022AY 2008-09

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…the Hon’ble Gujarat High Court in the case of Ami Ashish Shah vs. ITO, 440 ITR 417 (Guj.-HC), wherein, the Hon’ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supr…

POONA CLUB LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 891/PUN/2017[2007-08]Status: DisposedITAT Pune20 Apr 2022AY 2007-08

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…the Hon’ble Gujarat High Court in the case of Ami Ashish Shah vs. ITO, 440 ITR 417 (Guj.-HC), wherein, the Hon’ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supr…

POONA CLUB LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 890/PUN/2017[2006-07]Status: DisposedITAT Pune20 Apr 2022AY 2006-07

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…the Hon’ble Gujarat High Court in the case of Ami Ashish Shah vs. ITO, 440 ITR 417 (Guj.-HC), wherein, the Hon’ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supr…

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 4,, PUNE vs. M/S. POONA CLUB LTD,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 1939/PUN/2017[2013-14]Status: DisposedITAT Pune20 Apr 2022AY 2013-14

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…the Hon’ble Gujarat High Court in the case of Ami Ashish Shah vs. ITO, 440 ITR 417 (Guj.-HC), wherein, the Hon’ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supr…

ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE vs. M/S. POONA CLUB LTD.,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 1238/PUN/2017[2012-13]Status: DisposedITAT Pune20 Apr 2022AY 2012-13

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…the Hon’ble Gujarat High Court in the case of Ami Ashish Shah vs. ITO, 440 ITR 417 (Guj.-HC), wherein, the Hon’ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supr…

ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE vs. M/S. POONA CLUB LTD.,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 1237/PUN/2017[2011-12]Status: DisposedITAT Pune20 Apr 2022AY 2011-12

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…the Hon’ble Gujarat High Court in the case of Ami Ashish Shah vs. ITO, 440 ITR 417 (Guj.-HC), wherein, the Hon’ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supr…

ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE vs. M/S. POONA CLUB LTD.,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 1235/PUN/2017[2008-09]Status: DisposedITAT Pune20 Apr 2022AY 2008-09

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…the Hon’ble Gujarat High Court in the case of Ami Ashish Shah vs. ITO, 440 ITR 417 (Guj.-HC), wherein, the Hon’ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supr…

POONA CLUB LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 895/PUN/2017[2012-13]Status: DisposedITAT Pune20 Apr 2022AY 2012-13

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…the Hon’ble Gujarat High Court in the case of Ami Ashish Shah vs. ITO, 440 ITR 417 (Guj.-HC), wherein, the Hon’ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supr…

POONA CLUB LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 894/PUN/2017[2011-12]Status: DisposedITAT Pune20 Apr 2022AY 2011-12

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…the Hon’ble Gujarat High Court in the case of Ami Ashish Shah vs. ITO, 440 ITR 417 (Guj.-HC), wherein, the Hon’ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supr…

POONA CLUB LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 893/PUN/2017[2009-10]Status: DisposedITAT Pune20 Apr 2022AY 2009-10

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…the Hon’ble Gujarat High Court in the case of Ami Ashish Shah vs. ITO, 440 ITR 417 (Guj.-HC), wherein, the Hon’ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supr…

POONA CLUB LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 4,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 2242/PUN/2017[2014-15]Status: DisposedITAT Pune20 Apr 2022AY 2014-15

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…the Hon’ble Gujarat High Court in the case of Ami Ashish Shah vs. ITO, 440 ITR 417 (Guj.-HC), wherein, the Hon’ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supr…

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 4,, PUNE vs. M/S. POONA CLUB LTD,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 2221/PUN/2017[2014-15]Status: DisposedITAT Pune20 Apr 2022AY 2014-15

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…the Hon’ble Gujarat High Court in the case of Ami Ashish Shah vs. ITO, 440 ITR 417 (Guj.-HC), wherein, the Hon’ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supr…

POONA CLUB LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 4, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 1653/PUN/2017[2013-14]Status: DisposedITAT Pune20 Apr 2022AY 2013-14

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…the Hon’ble Gujarat High Court in the case of Ami Ashish Shah vs. ITO, 440 ITR 417 (Guj.-HC), wherein, the Hon’ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supr…

ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE vs. M/S. POONA CLUB LTD.,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 1236/PUN/2017[2009-10]Status: DisposedITAT Pune20 Apr 2022AY 2009-10

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…the Hon’ble Gujarat High Court in the case of Ami Ashish Shah vs. ITO, 440 ITR 417 (Guj.-HC), wherein, the Hon’ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supr…

AMSRI CONSTRUCTIONS PRIVATE LIMITED, SECUNDERABAD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(2), HYDERABAD, HYDERABAD

ITA 121/HYD/2017[2007-08]Status: DisposedITAT Hyderabad23 May 2018AY 2007-08

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2007-08 M/S Amsri Builders Pvt. Vs. The Dy. Cit, Central Ltd., Secunderabad. Circle – 1(2), Hyderabad. Pan – Aaeca2834R (Appellant) (Respondent) Assessment Year: 2007-08 M/S Amsri Constructions Vs. The Dy. Cit, Central Pvt. Ltd., Secunderabad. Circle – 1(2), Hyderabad. Pan – Aafca5309Q (Respondent) (Appellant) Assessee By : Shri K.C Devdas Revenue By : Smt. B.K Vishnu Priya Date Of Hearing : 06-03-2018 Date Of Pronouncement : 23-05-2018 Order Per P. Madhavi Devi, J.M.:

For Appellant: Shri K.C DevdasFor Respondent: Smt. B.K Vishnu Priya
Section 147Section 148

…t, he placed reliance upon the following decisions: 1) CIT Vs Kelvinator of India, reported in [2010] 320 ITR 561 (SC). 2) CIT Vs. Atul Kumar Swami, reported in [2014] 362 ITR 693 (Delhi). 3) Ratna Trayi Reality Services Pvt Ltd., Vs. ITO, reported in [2013] 356 ITR 493 (Guj). 4) CIT Vs. Orient Craft Ltd. reported in (2013) 354 IR 536 (Delhi). 6. Further, he submitted that the A.O has not brought any income to tax even in the reassessment proceedings and therefore there was no escapement of income, particularly since the assessee had not commenced its business activity and had not computed any business income u…

AMSRI BUILDERS PRIVATE LIMITED, SECUNDERABAD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(2), HYDERABAD, HYDERABAD

ITA 120/HYD/2017[2007-08]Status: DisposedITAT Hyderabad23 May 2018AY 2007-08

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2007-08 M/S Amsri Builders Pvt. Vs. The Dy. Cit, Central Ltd., Secunderabad. Circle – 1(2), Hyderabad. Pan – Aaeca2834R (Appellant) (Respondent) Assessment Year: 2007-08 M/S Amsri Constructions Vs. The Dy. Cit, Central Pvt. Ltd., Secunderabad. Circle – 1(2), Hyderabad. Pan – Aafca5309Q (Respondent) (Appellant) Assessee By : Shri K.C Devdas Revenue By : Smt. B.K Vishnu Priya Date Of Hearing : 06-03-2018 Date Of Pronouncement : 23-05-2018 Order Per P. Madhavi Devi, J.M.:

For Appellant: Shri K.C DevdasFor Respondent: Smt. B.K Vishnu Priya
Section 147Section 148

…t, he placed reliance upon the following decisions: 1) CIT Vs Kelvinator of India, reported in [2010] 320 ITR 561 (SC). 2) CIT Vs. Atul Kumar Swami, reported in [2014] 362 ITR 693 (Delhi). 3) Ratna Trayi Reality Services Pvt Ltd., Vs. ITO, reported in [2013] 356 ITR 493 (Guj). 4) CIT Vs. Orient Craft Ltd. reported in (2013) 354 IR 536 (Delhi). 6. Further, he submitted that the A.O has not brought any income to tax even in the reassessment proceedings and therefore there was no escapement of income, particularly since the assessee had not commenced its business activity and had not computed any business income u…

Ratna Trayi Reality Service (P.) Ltd. v. ITO (356 ITR 493) — Cited in 20 Judgments | BharatTax