Saraswat Cooperative Bank Ltd. v. ACIT

ANIL KUMAR JAIN,NEW DELHI vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-26, JHANDEWALAN, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: SHRI YOGESH KUMAR U.S. (Judicial Member), SHRI MANISH AGARWAL (Accountant Member)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’: NEW DELHI BEFORE SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Anil Kumar Jain, Dy. CIT, 4735/22, Parkash Deep Building, Central Circle-26, Second Floor, Daryaganj, Vs. New Delhi. New Delhi. PAN-AAGPJ2715D (Appellant) (Respondent) Shri Prem Lamba, CA Assessee by Department by Shri Rajesh Kumar Dhanesta, Sr. DR Date of Hearing 18/11/2025 Date of Pronouncement 16/01/2026 O R D E R PER MANISH AGARWAL, AM: This appeal is filed by the Assessee against the order of the Learned Commissioner of Income Tax (Appeals)-29, New Del…

RAKESH DIVEDI,DELHI vs. INCOME TAX OFFICER, WARD 43(6), DELHI, DELHI

In the result, appeal of the Assessee is allowed

Bench: Shri Sudhir Kumar & Shri Manish Agarwalrakesh Divedi, Income Tax Officer, 87, Triveni Apartments, Ward-43(6), Delhi. Pitampura, New Delhi - Vs. 110034. Pan-Apcpd9179A (Appellant) (Respondent) Shri Pranshu Singhal, Ca Assessee By & Ms. Mansi Jain, Adv. Department By Ms. Ankush Kalra, Sr. Dr Date Of Hearing 30/10/2025 Date Of Pronouncement 09/01/2026 O R D E R Per Manish Agarwal, Am: This Appeal Is Filed By The Assessee Against The Order Of The Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi (‘Ld. Cit(A)’ In Short) Dated 07.03.2025 In Appeal No.40/10204/2018-19 Arising Out Of The Order Passed By The Income Tax Officer, Ward-40(3) U/S 143(3) Of The Act (‘The Act’ For Short) Dated 20.12.2016 For Assessment Year 2009-10. 2. Brief Facts Of The Case Are That Assessee Is An Individual & Proprietor Of M/S Triambkay Gauri Impex. The Information Was Received By The Ao From Investigation Wing That There Were Cash Deposits In The Bank Account Of The Assesse With Icici Bank, However, Income Of The Assessee & Gross Receipt Has Not Rakesh Divedi Vs. Income Tax Officer Commensurate With The Cash So Deposited, Therefore, After Recording The Reason U/S 147, Notice U/S 148 Was Issued On 31.03.2016 After Obtaining Statutory Approval From The Pcit. Thereafter, Assessment Was Completed Vide Order Dated 20.12.2016 Wherein Total Addition Of Rs. 5,20,88,345/- Was Made U/S 68 Of The Act For Cash Deposited In The Bank Accounts By Holding The Same As Unexplained Cash Credits. 3. Against The Said Order, Assessee Has Filed An Appeal Before Ld. Cit(A) Who Vide Impugned Order Has Partly Allowed The Appeal Of The Assessee & Directed The Ao To Make Addition Of Peak Credit Of The Total Deposits In The Bank Accounts.

…listic and formal rather than meaningful, which was rationale for safeguard of approval by higher ranking officer- Revenue's appeal dismissed." 15. Hon’ble Bombay High Court in the case of Saraswat CO - operative Bank Ltd. vs ACIT & Others reported in [2025] 473 ITR 205 (Bom.) has held as under:- Sanction mechanism under section 151 21. Evidently, the reassessment was first proposed internally on March 24, 2021 by the jurisdictional Assessing Officer, and was recommended by a Range Officer on March 25, 2021, and approved by the Principal Commissioner of Income-tax on the same day all under section 151 of the Act…

DEEPAK AGARWAL,DELHI vs. DCIT, CENTRAL CIRCLE- 25 , DELHI

Bench: Shri S Rifaur Rahman, Accountnat Member & Shri Anubhav Sharma

…ant of approval by PCCIT in the printed format without any line of reason does not fulfil the requirement of Section 151 of the Act” 11.5 Reliance is placed by ld. Counsel on Hon’ble Bombay High Court decision in case of Saraswat Cooperative Bank Ltd vs ACIT 473 ITR 205, where the Hon’ble Court has held as follows; “The requirement for sanction by a high-ranking official under Section 151, is an inherent check and balance in the statutory scheme of the Act. Such officers are expected to apply their mind to the facts and the applicable law and then accord sanction. In the instant case, the proposed reassessment…

DEEPAK AGARWAL,DELHI vs. DCIT,CENTRAL CIRCLE- 13, DELHI

Bench: Shri S Rifaur Rahman, Accountnat Member & Shri Anubhav Sharma

…ant of approval by PCCIT in the printed format without any line of reason does not fulfil the requirement of Section 151 of the Act” 11.5 Reliance is placed by ld. Counsel on Hon’ble Bombay High Court decision in case of Saraswat Cooperative Bank Ltd vs ACIT 473 ITR 205, where the Hon’ble Court has held as follows; “The requirement for sanction by a high-ranking official under Section 151, is an inherent check and balance in the statutory scheme of the Act. Such officers are expected to apply their mind to the facts and the applicable law and then accord sanction. In the instant case, the proposed reassessment…

DEEPAK AGARWAL,DELHI vs. DCIT, CENTRAL CIRCLE-25, DELHI

Bench: Shri S Rifaur Rahman, Accountnat Member & Shri Anubhav Sharma

…ant of approval by PCCIT in the printed format without any line of reason does not fulfil the requirement of Section 151 of the Act” 11.5 Reliance is placed by ld. Counsel on Hon’ble Bombay High Court decision in case of Saraswat Cooperative Bank Ltd vs ACIT 473 ITR 205, where the Hon’ble Court has held as follows; “The requirement for sanction by a high-ranking official under Section 151, is an inherent check and balance in the statutory scheme of the Act. Such officers are expected to apply their mind to the facts and the applicable law and then accord sanction. In the instant case, the proposed reassessment…

DEEPAK AGARWAL,DELHI vs. DCIT, CENTRAL CIRCLE- 25, DELHI

Bench: Shri S Rifaur Rahman, Accountnat Member & Shri Anubhav Sharma

…ant of approval by PCCIT in the printed format without any line of reason does not fulfil the requirement of Section 151 of the Act” 11.5 Reliance is placed by ld. Counsel on Hon’ble Bombay High Court decision in case of Saraswat Cooperative Bank Ltd vs ACIT 473 ITR 205, where the Hon’ble Court has held as follows; “The requirement for sanction by a high-ranking official under Section 151, is an inherent check and balance in the statutory scheme of the Act. Such officers are expected to apply their mind to the facts and the applicable law and then accord sanction. In the instant case, the proposed reassessment…

SANTOSH RANI LEGAL HEIR OF LATE SH PARVEEN KALYAN,KURUKSHETRA vs. INCOME TAX OFFICER, WARD 1, KARNAL, KARNAL

In the result, appeal of the assessee is allowed

Bench: Shri Anubhav Sharma & Shri Manish Agarwal[Assessment Year : 2011-12] Santosh Rani Vs Ito, Legal Heir Of Late Shri Parveen Ward-1, Karnal, Kalyan, Krishna Nagar, Gamri, Haryana-132001. Thanesar, Distt.-Kurukshetra, Haryana-136118. Pan-Awhpr4944D Appellant Respondent Appellant By Shri Suresh K.Gupta, Ca Respondent By Shri Dheeraj Kumar Jaiswal, Sr.Dr Date Of Hearing 01.07.2025 Date Of Pronouncement 19.09.2025 Order

…n ritualistic and formal rather than meaningful, which was rationale for safeguard of approval by higher ranking officer-Revenue's appeal dismissed." 11. Further, Hon’ble Bombay High Court in the case of Saraswat Co-operative Bank Ltd. vs ACIT & Others [2025] 473 ITR 205 (Bom.) held as under:- Sanction mechanism under section 151 21. Evidently, the reassessment was first proposed internally on March 24, 2021 by the jurisdictional Assessing Officer, and was recommended by a Range Officer on March 25, 2021, and approved by the Principal Commissioner of Income-tax on the same day all under section 151 of the Act. Th…

ARUN DUGGAL,FARIDABAD vs. DCIT, CENTRAL CIRCLE- 1, FARIDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Sudhir Kumar & Shri Manish Agarwal[Assessment Year : 2009-10] Arun Duggal, Vs Dcit, 3E-42, Nit, Faridabad, Central Circle-1, Haryana-121001. Faridabad. Pan-Agupd5708Q Appellant Respondent Appellant By Dr. Kapil Goel, Adv. Respondent By Shri Pravin Rawal, Cit Dr Date Of Hearing 26.06.2025 Date Of Pronouncement 19.09.2025 Order Per Manish Agarwal, Am : The Present Appeal Is Filed By Assessee Against The Order Dated 26.02.2018 Passed By Ld. Commissioner Of Income Tax (A)-3, Gurgaon [“Ld.Cit(A)”] In Appeal No.617/Cit(A)-3/Ggn/2016-17 U/S 250 Of The Income Tax Act, 1961 [“The Act”] Arising Out Of Assessment Order Dated 23.12.2016 Passed U/S 147 R.W.S. 143(3) Of The Act Pertaining To Assessment Year 2009-10. 2. Brief Facts Of The Case Are That The Appeal Of The Assessee Was Heard By The Co-Ordinate “E” Bench Of The Tribunal & Was Decided In Terms Of Order Dated 01.04.2022 Wherein Co-Ordinate Bench Has Dismissed The Appeal Of The Assessee. Thereafter, Assessee Filed Miscellaneous Application (M.A.) Bearing No.100/Del/2022 U/S 254(2) Of The Act. The Co-Ordinate Bench Vide Its Order Dated 09.04.2025 Has Decided The M.A. Filed By Assessee Wherein Order Of Co-Ordinate Bench Dated 04.01.2022 Is Recalled For The Limited Purposes Of Adjudication Of Three Grounds Of Appeal Taken In The Original Form 36. These Grounds Of Appeal Are Bearing Nos.1.2, 1.8 & 5. The Relevant Observations Of The Co-Ordinate Bench In Para 16 Of The Order Of Ma Are As Under:-

…e extracted here under for ready-reference:- (i) Hari Nagar Sugar Mills Ltd. (Biscuit Division) & Anr. Vs State of Maharshtra & Ors. 2025 INSC 801; (ii) SBC Minerals Pvt.Ltd. vs ACIT 475 ITR 369 (Delhi High Court); (iii) Saraswat Cooperative Bank Ltd. vs ACIT 473 ITR 205 (Bombay High Court); (iv) The Pr.CIT-7 vs Pioneer Town Planners Pvt.Ltd. 465 ITR 356 (Delhi High Court); (v) Sec 151 Hon'ble Delhi high court decision in case of Sanjay Kumar vs ACIT 458 ITR 548, (vi) Sec 151: VINOD KUMAR SOLANKI VS ACIT W.P.(C) 4196/2022 (14.08.2024) hon'ble high court has taken note of ESS ADVERTISING 437 ITR 1 (vii) Hon'ble De…

SUNITA BHARDWAJ,NEW DELHI vs. ITO WARD 61(1), NEW DELHI

Bench: Shri Anubhav Sharma & Shri Manish Agarwal[Assessment Year : 2012-13] Sunita Bhardwaj, Vs Acit, 1/2, Taj Apartments, Circle-63(1), R.K.Puram, Sector-12, Delhi Delhi-110022. Pan-Ahfpb1928E Appellant Respondent

…meaningful, which was rationale for safeguard of approval by higher ranking officer-Revenue's appeal dismissed." 14. Further, reliance placed in the judgement of Hon’ble Bombay High Court in the case of Saraswat CO-operative Bank Ltd. vs ACIT & Others [2025] 473 ITR 205 (Bom.) wherein Hon’ble Bombay High Court has held as under:- Sanction mechanism under section 151 21. Evidently, the reassessment was first proposed internally on March 24, 2021 by the jurisdictional Assessing Officer, and was recommended by a Range Officer on March 25, 2021, and approved by the Principal Commissioner of Income-tax on the same da…

SUNITA BHARDWAJ,NEW DELHI vs. ITO WARD 61(1), NEW DELHI

Bench: Shri Anubhav Sharma & Shri Manish Agarwal[Assessment Year : 2012-13] Sunita Bhardwaj, Vs Acit, 1/2, Taj Apartments, Circle-63(1), R.K.Puram, Sector-12, Delhi Delhi-110022. Pan-Ahfpb1928E Appellant Respondent

…meaningful, which was rationale for safeguard of approval by higher ranking officer-Revenue's appeal dismissed." 14. Further, reliance placed in the judgement of Hon’ble Bombay High Court in the case of Saraswat CO-operative Bank Ltd. vs ACIT & Others [2025] 473 ITR 205 (Bom.) wherein Hon’ble Bombay High Court has held as under:- Sanction mechanism under section 151 21. Evidently, the reassessment was first proposed internally on March 24, 2021 by the jurisdictional Assessing Officer, and was recommended by a Range Officer on March 25, 2021, and approved by the Principal Commissioner of Income-tax on the same da…

NAVEEN KUMAR GUPTA,NEW DELHI vs. ITO, WARD-26(1), NEW DELHI

In the result, the appeal filed by the assessee is partly allowed

Bench: SHRIS.RIFAUR RAHMAN (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)

…nction would not be adequate for requisite application of mind. In this regard, he relied on the following decisions :- a) ITAT, Delhi Bench in the case of Jagbir Singh (08.01.2025) b) Hon’ble Bombay High Court in case of Saraswat Cooperative Bank Ltd vs ACIT 473 ITR 205 c) ITAT, Delhi Bench in ACIT vs. Vikas Strips Pvt. Ltd. in ITA No.2811/Del/2024 dated 17.04.2025 10. Further he brought to our notice that assessee was never supplied with relied upon material while recording the reasons u/s 148 (2) of the Act. He submitted that assessee was never supplied with correspondence/letter etc. received by the AO which…

SUMAN KISHORE,NEW DELHI vs. ITO, NEW DELHI

Bench: Shri Anubhav Sharma & Shri Manish Agarwal[Assessment Year : 2012-13] Sunita Bhardwaj, Vs Acit, 1/2, Taj Apartments, Circle-63(1), R.K.Puram, Sector-12, Delhi Delhi-110022. Pan-Ahfpb1928E Appellant Respondent

…meaningful, which was rationale for safeguard of approval by higher ranking officer-Revenue's appeal dismissed." 14. Further, reliance placed in the judgement of Hon’ble Bombay High Court in the case of Saraswat CO-operative Bank Ltd. vs ACIT & Others [2025] 473 ITR 205 (Bom.) wherein Hon’ble Bombay High Court has held as under:- Sanction mechanism under section 151 21. Evidently, the reassessment was first proposed internally on March 24, 2021 by the jurisdictional Assessing Officer, and was recommended by a Range Officer on March 25, 2021, and approved by the Principal Commissioner of Income-tax on the same da…