How many judgments cite Sarthak Securities Co. Pvt. Ltd. v. ITO?

217 judgments on BharatTax cite Sarthak Securities Co. Pvt. Ltd. v. ITO (329 ITR 110), spanning 2011 to 2026.

Which sections of the Income Tax Act does Sarthak Securities Co. Pvt. Ltd. v. ITO come up under?

It is most often cited in judgments turning on Section 147, Section 148, Section 143(3), Section 68, Section 142(1), Section 151.

Sarthak Securities Co. Pvt. Ltd. v. ITO

329 ITR 110High Court2010#413 most cited

What is Sarthak Securities Co. Pvt. Ltd. v. ITO authority for?

Reassessment proceedings under Section 147 are invalid if the Assessing Officer records satisfaction based on borrowed satisfaction or information without independently applying their mind and forming their own 'reason to believe' that income has escaped assessment. The AO must arrive at an independent conclusion, not merely act on a report from an investigation wing without due diligence.

217

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2011 to 2026.

Also referred to as

Sarthak Securities Co. Pvt. Ltd. v. ITO · Section 147 · Section 148 · reopening assessment · borrowed satisfaction · non-application of mind · reason to believe · escapement of income · material facts · investigation report

Sections most often in play

Section 147 Section 148 Section 143(3)Section 68 Section 142(1)Section 151 Section 133(6)Section 144B

Issues it is cited on

live link borrowed satisfaction section 148(2)non application of mind material facts necessary for assessment beyond four years tangible material section 151(1)bogus ltcg kelvinator reason to believe escapement of income

Judgments citing Sarthak Securities Co. Pvt. Ltd. v. ITO

Jaibhagwan Banarasidas Jindal, Jalna vs. The Income Tax Officer, Ward-1, Jalna

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

ITA 2016/PUN/2024[2016-17]Status: DisposedITAT Pune27 Feb 2025AY 2016-17

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2016-17

For Appellant: Shri Jaiprakash BairagraFor Respondent: Shri Ramnath P Murkunde

Section 10(38)Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 151

…terials produced subsequent to the re-opening will not rescue an inherently defective reopening order from invalidity. 15. Referring to the decision of the Hon’ble Delhi High Court in the case of Sarthak Securities Co Pvt Ltd vs Income Tax Officer-Ward 7(3), 329 ITR 110 (Del.), he submitted that the Hon’ble High Court in the said decision has held that where there is no independent application of mind by the Assessing officer but acting under information from Inv. Wing, the notice u/s 147 has to be quashed. 16. Referring to the decision of the Hon’ble Bombay High Court in the case of PCIT v. Shodiman Investment…

ACIT-Central Circle -2(1), Nagpur vs. Shri Nandkumar Khattumal Harchandani, Nagpur

In the result, appeal of the Revenue stands dismissed

ITA 411/NAG/2019[2015-16]Status: DisposedITAT Nagpur25 Feb 2025AY 2015-16

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Sandipkumar Salunke

Section 10(38)Section 68

…es were made as basis of impugned order, amounted in serious flaw which make impugned order nullity as it amounted to violation of principles of natural justice 5. I.T.A. No. 1175/Mum/2012 (ITAT, Mumbai) Smt. DurgadeviMundra –Vs.- Income Tax Officer 6. (2010) 329 ITR 110 (High Court, Delhi) Sarthak Securities Co. (P) Ltd. –Vs- Income Tax Officer Reassessment-Reason to believe-Absence of material or rational belief-AO was made aware of the situation by the Investigation Wing and there is no mention that the companies who had invested shares in petitioner company were fictitious-What is mentioned is that these comp…

ACIT-Central Circle -2(1), Nagpur vs. Shri Nandkumar Khattumal Harchandani, Nagpur

ITA 410/NAG/2019[2014-15]Status: DisposedITAT Nagpur25 Feb 2025AY 2014-15

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Sandipkumar Salunke

Section 10(38)Section 68

…s were made as basis of impugned order, amounted in serious flaw which make impugned order nullity as it amounted to violation of principles of natural justice 5. I.T.A. No. 1175/Mum/2012 (ITAT, Mumbai) Smt. Durgadevi Mundra –Vs.- Income Tax Officer 6. (2010) 329 ITR 110 (High Court, Delhi) Sarthak Securities Co. (P) Ltd. –Vs- Income Tax Officer Reassessment-Reason to believe-Absence of material or rational belief-AO was made aware of the situation by the Investigation Wing and there is no mention that the companies who had invested shares in petitioner company were fictitious-What is mentioned is that these comp…

Income Tax Officer, Kolkata vs. Alcom Investment Pvt. Ltd., Kolkata

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

ITA 16/KOL/2024[2008-09]Status: DisposedITAT Kolkata17 Jan 2025AY 2008-09

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 132Section 133(6)Section 142(1)Section 143(2)Section 147Section 148Section 45

…his own mind to reopen the case. The Ld. Counsel cited a decision passed by the Hon’ble Supreme Court in the case of Kelvinator (320 ITR 561), decision of Hon’ble Delhi High Court in the case of SFIL Stock Broking Ltd. (325 ITR 285), Sarthak Securities Ltd. (329 ITR 110) and Signature Hotels Pvt. Ltd. (338 ITR 51). 8. Upon hearing the submission of the Ld. Counsel for the respective parties, we have perused the order of Ld. CIT(A) and the facts of the case of the assessee. It is the case of the assessee that case of the assessee was reopened by issuing notice u/s 148 of the Act which were issued on 26.03.2015.…

Begraj Agarwal & Ors HUF, Kolkata vs. I.T.O., Ward - 34(1), Kolkata

In the result, the appeal of the assessee is allowed

ITA 1370/KOL/2024[2013-2014]Status: DisposedITAT Kolkata15 Jan 2025AY 2013-2014

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Ito, Ward 34(1), Kolkata Begraj Agarwal & Ors. Huf Aaykar Bhavan Poorva, 110, Diamond Heritage, Unit No.609, Strand Road, Kolkata-700001 Shantipally, Kolkata-700107, Vs. West Bengal West Bengal (Appellant) (Respondent) Pan No. Aabhb8295F Assessee By : Shri S.M. Surana, Ar Revenue By : Shri Amuldeep Kaur, Dr Date Of Hearing: 19.12.2024 Date Of Pronouncement : 15.01.2025

For Appellant: Shri S.M. Surana, ARFor Respondent: Shri Amuldeep Kaur, DR

Section 139(1)Section 143(1)Section 143(3)Section 144BSection 147Section 148Section 68

…is argument the ld. Authorized Representative relied on the following decisions: i. CIT vs. Smt Paramji Kaur (2009) 311 ITR 38 (Punjab and Haryana) ii. CIT vs. Sfil Stock Broking Ltd. (2010) 325 ITR 285 (Delhi) iii. ITO Vs. Sarthak Securities (P.) Ld. (2010) 329 ITR 110 (Delhi) iv. Signature Hotels P. Ld. Vs. ITO Another (2011) 338 IT 51 (supra) 338 ITR 51 v. Akshar Builders and Developers Vs. ACIT WP No. 14490 of 2018 (Bombay) vi. Ankita A. Choksey Vs. ITO (Bombay) WP No. 3344 of 2018 Begraj Agarwal & Ors Huf; A.Y. 2013-14 06. The ld. Authorized Representative therefore prayed that in view of the ratio laid dow…

Raghav Commodities, Jaipur vs. ITO Ward 6(2), Jaipur

In the result, the appeal of the assessee is partly allowed as indicated

ITA 943/JPR/2024[2015-2016]Status: DisposedITAT Jaipur29 Nov 2024AY 2015-2016

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. Tarun Mittal, CAFor Respondent: Sh. Arvind Kumar, CIT-DR

Section 142(1)Section 147Section 148Section 148A

…financial affairs of the assessee and without recording his own independent satisfaction deserves to be held illegal. In this regard reliance is placed on the decision of Hon’ble Delhi High court in case of Sarthak Securities Co. Pvt. Ltd. Vs. ITO reported in 329 ITR 110 wherein it has been held as under: Reassessment – Notice – Condition precedent – Formation of belief that income escaped assessment – Assessing Officer treating share application money as bogus accommodation entries – Payments through banking channel and companies investing money genuine – No independent application of mind by Assessing Officer b…

Sh. Mukut Behari Agarwal, Jaipur vs. The DCIT, Circle 1, Jaipur

In the result, the appeals of the assessee is allowed as indicated hereinabove

ITA 1067/JPR/2024[2015-2016]Status: DisposedITAT Jaipur28 Nov 2024AY 2015-2016

Bench: DR. S. SEETHA LAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Tarun Mittal, CAFor Respondent: Ms. Alka Gautam CIT-DR

Section 143(3)Section 144BSection 147Section 148Section 149Section 69A

…nancial affairs of the assessee and without recording his own independent satisfaction deserves to be held illegal. To this effect, reliance was placed on the decision of Hon’ble Delhi High court in case of Sarthak Securities Co. Pvt. Ltd. Vs. ITO reported in 329 ITR 110 wherein it has been held as under: Reassessment – Notice – Condition precedent – Formation of belief that income escaped assessment – Assessing Officer treating share application money as bogus accommodation entries – Payments through banking channel and companies investing money genuine – No independent application of mind by Assessing Officer b…

Kalindee Estates Private Limited, Jaipur vs. Income Tax Officer, Jaipur

ITA 770/JPR/2024[2010-2011]Status: DisposedITAT Jaipur21 Oct 2024AY 2010-2011

For Appellant: Sh. Tarun Mittal, CAFor Respondent: Sh. Anup Singh, Addl. CIT

Section 143(3)Section 147Section 68

…by some other official without in any manner recording his own independent satisfaction deserves to be held illegal. In this regard reliance is placed on the decision of Hon'ble Delhi High court in case of Sarthak Securities Co. Pvt. Ltd. Vs. ITO reported in 329 ITR 110 wherein it has been held as under: Reassessment – Notice – Condition precedent – Formation of belief that income escaped assessment Assessing Officer treating share application money as bogus accommodation entries Payments through banking channel and companies investing money genuine No independent application of mind by Assessing Officer but act…

ACIT, Central Crcle-18, New Delhi vs. Shimmer Developers P.Ltd, New Delhi

In the result, appeal of the Revenue is dismissed

ITA 1497/DEL/2018[2011-12]Status: DisposedITAT Delhi21 Oct 2024AY 2011-12

Bench: Pradip Kumar Kedia & Shri Anubhav Sharma

Section 132Section 143(3)Section 147Section 150Section 68

…stablished, as detailed above. Non application of mind by the AO in recording of reasons makes the entire assessment proceedings bad as has been laid down in a plethora of rulings, viz. (i) M/s Sarthak Securities Co. (P) Ltd. vs. ITO, Ward - 7(3), as reported 329 ITR 110 (Delhi), date of order 18.10.2010. It has been noted in this order at paras 14 till 24, as follows: "14. In this context, we think it apt to refer to section 147 of the Act, which reads as under "147. Income escaping assessment If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessme…

M/S Ganesh Ram Dokania, Patna vs. ACIT Central Circle-2, Patna

In the result, the appeal of the assessee is allowed on legal issue

ITA 263/PAT/2023[2012-13]Status: DisposedITAT Patna15 Oct 2024AY 2012-13

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubey]

Section 132Section 133(6)Section 142(1)Section 144Section 147Section 148Section 148(2)Section 153ASection 68

…R 332 (Bom), PCIT Vs Meenakshi Overseas Pvt Ltd (2017) 82 taxmann.com 300 (Del), CIT vs. SFIL Stock Broking Ltd. in [2010] 325 ITR 285 (Del) , PCIT Vs Shodiman Investment Pvt Ltd (2018) 93 taxmann.com 153 (Bom) and Sarthak Securities Co Pvt Ltd. Vs ITO (2010) 329 ITR 110 (Del). 4 I.T.A. No. 263/PAT/2023 Assessment Year: 2012-13 M/s Ganesh Ram Dokania 6. The Ld. D.R on the other hand submitted that while reopening the assessment only information is required to be there in the possession of the AO which is the only requirement and is a valid ground for reopening u/s 147 of the Act and therefore the action u/s 147…

Padmavati Agrico (India) Pvt Ltd, Ajmer vs. ACIT Circle - 1, Ajmer

In the result, the appeal of the assessee is allowed

ITA 702/JPR/2023[2010-11]Status: DisposedITAT Jaipur05 Sept 2024AY 2010-11

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. Tarun Mittal (CA)For Respondent: Sh. Anoop Singh (Addl. CIT)

Section 143Section 147

…by some other official without in any manner recording his own independent satisfaction deserves to be held illegal. In this regard reliance is placed on the decision of Hon’ble Delhi High court in case of Sarthak Securities Co. Pvt. Ltd. Vs. ITO reported in 329 ITR 110 wherein it has been held as under: Reassessment – Notice – Condition precedent – Formation of belief that income escaped assessment – Assessing Officer treating share application money as bogus accommodation entries – Payments through banking channel and companies investing money genuine – No independent application of mind by Assessing Officer b…

Hero Motocorp Ltd (As Successor of Hero Investment P.Ltd), New Delhi vs. DCIT, Circle 11(1), New Delhi

The appeal is allowed

ITA 1053/DEL/2023[2011-12]Status: DisposedITAT Delhi24 Jul 2024AY 2011-12

Bench: Shri G.S. Pannu & Shri Anubhav Sharmaassessment Year: 2011-12

Section 143(3)

…Tupperware India Pvt. Ltd.: 284 CTR 68 (Del.) CIT vs. Batra Bhatta Co 321 ITR 526 (Del) - SLP has been dismissed by the Supreme Court and is reported in 320 ITR (St.) 24. CIT vs. Orient Craft Ltd: 354 ITR 536 (Del.) Sarthak Securities Co. Pvt. Ltd. vs. ITO: 329 ITR 110 (Del.) Indivest Pte Ltd., Singapore vs. ADIT: 250 CTR 15 (Bom) Nitin P. Shah vs. DCIT 146 Taxman 536 (Guj.). CIT vs. Manohar Lal Gupta 213 CTR 93 (Raj.) 28. Now as with regard to grounds of appeal nos.4 to 8, which are also to great extent covered in the second issue, as framed above, to find out if addition under section 28(iv) is sustainable…

Maa Jagat Janani Seva Trust, Nambira vs. ACIT (Exemption Circle), Bhubaneswar

In the result, appeal of the assessee stands allowed

ITA 249/CTK/2023[2014-15]Status: DisposedITAT Cuttack16 Jul 2024AY 2014-15

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwalassessment Year : 2014-2015 2015 Maa Maa Jagat Jagat Janani Janani Seva Seva Vs. Asst. Asst. Commissioner Commissioner Of Of Trust, At- -Nambira, Po: Income Income Tax, Tax, Exemption Exemption Bamebari, Ps: Joda, Dist: Bamebari, Ps: Joda, Dist: Circle, Bhubaneswar Circle, Bhubaneswar Keonjhar Pan/Gir No Pan/Gir No.Aadtm 1575 H (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri P.K.Mishra, P.K.Mishra, Adv Revenue By : Shri Sanjay Kumar, Cit : Shri Sanjay Kumar, Cit Dr Date Of Hearing : 16/0 07/2024 Date Of Pronouncement : 16/0 /07/2024 O R D E R Per Bench This Is An Appeal Filed By The Assessee Against The Ord This Is An Appeal Filed By The Assessee Against The Ord This Is An Appeal Filed By The Assessee Against The Order Of The Ld Cit(A), Nfac, Delhi Cit(A), Nfac, Delhi Dated 7.6.2023 In Appeal No.Nfac/2013 Nfac/2013-14/10180318 For The Assessment Year For The Assessment Year 2014-15. 2. Shri P.K.Mishra, P.K.Mishra, Ld Ar Appeared For The Assessee & Shri The Assessee & Shri Sanjay Kumar, Ld Cit Kumar, Ld Cit Dr Appeared For The Revenue.

For Appellant: Shri P.K.MishraFor Respondent: Shri Sanjay Kumar, CIT

Section 143(3)Section 147Section 148Section 194JSection 68

…that the reopening is not permissible on the basis of borrowed satisfaction of the Investigation Wing finds support from the decision of P a g e 17 | 19 Assessment Year : 2014-2015 Hon’ble Delhi High Court in the case of Sarthak Securities Pvt Ltd., vs ITO, 329 ITR 110 (Del). 9. A perusal of the decision of Hon’ble Supreme court in the case of Kelvinator of India Ltd (supra) has categorically held that after 1.4.1989, Assessing Officer has power to re-open the assessment, provided there is "tangible material" to come to the conclusion that there is escapement of income from assessment and such reasons must have…

Santosh Khunteta, Delhi vs. ITO, Ward-29(5), Delhi

In the result, Appeal filed by the assessee is allowed

ITA 3139/DEL/2023[2010-11]Status: DisposedITAT Delhi13 Jun 2024AY 2010-11

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

Section 147Section 148Section 151Section 56

…ITR 437(SC) (v) Commissioner of Income Tax v.G&G Pharma (2015) 384 ITR 147 (Del.) (vi) CIT vs Insecticides India Ltd 357 ITR 330, Delhi High Court. vii) CIT vs SFIL Stock Broking Ltd 325 ITR 285, Delhi High Court; (viii)Sarthak Securities Co. (P).Ltd vs ITO, 329 ITR 110, (Delhi HC); (ix) PCIT vs RMG Poly Vinyl (1) Ltd Delhi High Court; (x) Oriental Insurance Company Limited v. Commissioner of Income Tax 378 ITR 421 (Del). 7 Santosh Khunteta Vs. ITO 5. Per contra, the Ld. Departmental Representative submitted that the notice dated 31st March, 2010 has been issued u/s 148 of the Act by rectifying the mistakes in…

Spectrum Foods Limited, Jaipur vs. Income Tax Officer, Jaipur

In the result, the appeal of the assessee is allowed

ITA 38/JPR/2024[2010-11]Status: DisposedITAT Jaipur08 Apr 2024AY 2010-11

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. S. L. Poddar, AdvFor Respondent: Sh. Anup Singh (Addl. CIT)

Section 143(3)Section 147Section 148

…ore him that income had escaped assessment-Proceedings under s. 147/148 rightly quashed by Tribunal-No substantial question of law arises for consideration. 9 Spectrum Foods Limited vs ITO (vii) SARTHAK SECURITIES CO. (P) LTD. vs. INCOME TAX OFFICER (2010) 329 ITR 110 HIGH COURT OF DELHI Where the identity of the companies who had invested in the shares of petitioner- company was not disputed and neither the reasons in the initial notice nor the communication providing reasons remotely indicated independent application of mind by AO, reassessment proceedings were unwarranted and notice issued under s. 148 was…

Balaji Buillion & Commodities (India) Pvt. Ltd., Mumbai vs. DCIT - CC- 7(1), Mumbai

In the result, the appeal of the assessee is dismissed

ITA 3599/MUM/2018[2009-10]Status: DisposedITAT Mumbai03 Apr 2024AY 2009-10

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Years: 2009-10 M/S Balaji Bullion & Dcit Central Circle-7(1), Commodities (India) Pvt. Ltd., Mumbai. 118/120, 3Rd Floor, Ashoka Vs. House Zaveri Baazar, Mumbai-400 002. Pan No. Aadcb 0236 F Appellant Respondent : Mr. N.M. Porwal Assessee By Revenue By : Mr. S. Srinivasu, Cit-Dr : 27/03/2024 Date Of Hearing Date Of Pronouncement : 03/04/2024

For Respondent: Mr. N.M. Porwal

Section 234BSection 68

…d therein is not applicable considered opinion, the decision rendered therein is not applicable to the factual matrix in the case at hand. to the factual matrix in the case at hand. In the case of Sarthak In the case of Sarthak Securities Co. Pvt. Ltd. [2010] 329 ITR 110 (Delhi), the Divi Securities Co. Pvt. Ltd. [2010] 329 ITR 110 (Delhi), the Divi Securities Co. Pvt. Ltd. [2010] 329 ITR 110 (Delhi), the Division Bench had noted that certain companies were used as conduits but Bench had noted that certain companies were used as conduits but Bench had noted that certain companies were used as conduits but the ass…

Pooja Hardware Pvt. Ltd., Mumbai vs. ACIT - 13 (1)(1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 3712/MUM/2018[2012-13]Status: DisposedITAT Mumbai26 Feb 2024AY 2012-13

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2012-13

For Appellant: Mr. Vipul Joshi &For Respondent: Mr. H.M. Bhatt, Sr. DR

Section 147Section 35Section 35(1)(i)Section 35(1)(ii)

…de by us on the following decisions: On the above submissions made by us on the following decisions: On the above submissions made by us on the following decisions: • Signature Hotel • Signature Hotel - 338 ITR 51( Del) • Sarthak Security • Sarthak Security - 329 ITR 110 (Del) • Ranee Singh - - 330 ITR417 (Del) • Decision dated • Decision dated 29-10-2015 of Delhi ITAT in the case of Vardai 2015 of Delhi ITAT in the case of Vardai Overseas Pvt Ltd vs. ITO Ward 8(3), New Delhi in ITA No. Overseas Pvt Ltd vs. ITO Ward 8(3), New Delhi in ITA No. Overseas Pvt Ltd vs. ITO Ward 8(3), New Delhi in ITA No. 187,188/Del/20…

Lovely Promoters Private Limited, Kolkata vs. ACIT, Central Circle, Ajmer

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

ITA 770/JPR/2023[2013-14]Status: DisposedITAT Jaipur08 Feb 2024AY 2013-14

Bench: him regarding non mentioning of Document Identification Number (DIN) in the body of the order u/s. 127 of the Act dated 08-09-2021 and various other technical pleas raised in grounds of appeal regarding validity of notice u/s. 148 of the Act, thereby appellate order passed by the CIT(A) is non-speaking order and deserves to be quashed. 4. On the facts and in circumstances of the case and in law, the AO erred in issuing notice u/s. 148 of the Act as it was a search related case u/s. 132 r/w

For Appellant: Shri Mayank Taparia (Adv.)For Respondent: Shri A.S. Nehra (Addl.CIT) a

Section 127Section 127(1)Section 132Section 147Section 148Section 148ASection 151Section 153C

…ACIT an assessment attacks and pierces the concept of finality of litigation. Therefore, an invalid reopening done in the casual manner and without following parameters of law may cause undue hardship to the taxpayers. > Sarthak Securities Co. P. Ltd. vs. ITO 329 ITR 110 (Del) Section 147 of the Income-tax Act, 1961 - Income escaping assessment - Nondisclosure of primary facts - Assessment year 2003- 04 - Whether though to initiate proceedings under section 147, it is not necessary to have established fact of escapement of income, yet there must be relevant material on record on which a reasonable person can form…

Assistant Commissioner of Income Tax, Circle-1, Guwahati vs. M/S. Linkstar Promoters (P) Ltd, Kolkata

In the result, both the appeals of the Revenue are dismissed

ITA 9/GTY/2021[2012-13]Status: DisposedITAT Guwahati25 Sept 2023AY 2012-13

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

Section 143(3)Section 68

…orks Co. Limited –vs.- ITO (1977) 106 ITR 1 (SC) as well as that in the case of Chhugamal Rajpal –vs.- SP Chaliha, ITO & Others (1971) 79 ITR 603 (SC) and that of the Hon’ble Delhi High Court in the case of Sarthak Securities Co. Pvt. Limited –vs.- ITO (2010) 329 ITR 110. We are of the view that the reassessment proceedings carried out under section 147 of the Act after the lapse of four years from the end of the relevant assessment year and there being no reason to believe that the 19 M/s. Linkstar Promoters Pvt. Limited & M/s. Winner Dealtrade Pvt. limited assessee had failed to disclose fully and truly all…

Assistant Commissioner of Income Tax, Circle-1, Guwahati vs. M/S. Winner Dealtrade (P) Ltd., Kolkata

In the result, both the appeals of the Revenue are dismissed

ITA 13/GTY/2021[2012-13]Status: DisposedITAT Guwahati25 Sept 2023AY 2012-13

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

Section 143(3)Section 68