State of Uttar Pradesh & Others v. Aryaverth Chawal Udyog & Others

Madhu Goyal, Raipur vs. Income Tax Officer, Ward-2(1), Raipur

In the result, appeal of the assessee is allowed

Bench: Shri Partha Sarathi Chaudhuryआयकर अपील सं./Ita No.496/Rpr/2024 "नधा"रण वष" /Assessment Year : 2014-15 Smt. Madhu Goyal D-36, Wallfort City, Bhatagaon, Raipur-492 001 (C.G) Pan: Aeypg1038E .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-4(1), Raipur (C.G.) ……""यथ" / Respondent

…m of seeking the truth. “Reason to believe” means a situation where a person has sufficient cause to believe that something is true or false, but not otherwise. The Hon’ble Supreme Court in the case of State of Uttar Pradesh Vs. Aryaverth Chawal Udyog, [2015] 17 SCC 324 has held that the “reasons to believe” on which the assessing authority bases its opinion must not be arbitrary, irrational, vague, distant or irrelevant. 10. Reverting to the facts and circumstances of the present case, in the “reasons to believe” itself, there is incorrect finding by the A.O regarding non-disclosure of capital gain transactions…

Commissioner of Income Tax, Kolkata-II, Kolkata vs. M/S. Kesoram Idustries Limited

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani & The Hon’Ble Justice Rajarshi Bharadwaj Date : 6Th May 2024. Appearance: Mr. Soumen Bhattacharjee, Advocate Mr. Ankan Das, Advocate … For The Appellant. Mr. J. P. Khaitan, Senior Advocate Ms. Nilanjana Banerjee Pal, Advocate. … For The Respondent. 1. Heard Sri Soumen Bhattacharjee, Learned Junior Standing Counsel For The Appellant & Sri J. P. Khaitan, Learned Senior Advocate Assisted By Sm. Nilanjana Banerjee Pal, Learned Counsel For The Respondent Assessee. 2. This Appeal Was Admitted By This Court By Order Dated 31St July 2013 On The Following Substantial Question Of Law:- “Whether On Facts & In The Circumstances Of The Case, The Learned Income Tax Appellate Tribunal Erred In Law In Setting Aside The Order Under Section 147 Of The Income Tax, 1961?”

…hat the proceeding initiated by the Assessing Officer under Section 147 was based on change of opinion. Reason to Believe-Meaning, Scope and Consequence: 11. In the case of State of Uttar Pradesh & Others vs. Aryaverth Chawal Udyog & Others reported in (2015) 17 SCC 324 (paragraphs 28 to 30), the Hon'ble Supreme Court has held as under: 8 “28. This Court has consistently held that such material on which the assessing Authority bases its opinion must not be arbitrary, irrational, vague, distant or irrelevant. It must bring home the appropriate rationale of action taken by the assessing Authority in pursuance of…

ACIT(Central)-1, Indore vs. Shri Raunak Maru, Indore

The appeals of the Revenue are dismissed

Bench: Shri Mahavir Prasad & Shri Manish Borad

…आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER VIRTUAL HEARING Assessment Year:2013-14 ACIT (Central)-1, Shri Rajul Bhargava, Indore Indore बनाम/ (Appellant) (Respondent ) Vs. P.A. No.AICPP7540A Assessment Year:2013-14 ACIT (Central)-1, Shri Raunak Maru, Indore Indore बनाम/ (Appellant) (Respondent ) Vs. P.A. No.BQDPM6420L Revenue by Shri Amit Soni, Sr.DR Assessee by Shri Ajay Tulsiyan, CA Date of Hearing: 19.01.2022 Date of Pronouncement: 21. 03.2022 आदेश / O R D E R PE…

ACIT(Central)-1, Indore vs. Shri Rajul Bhargava, Indore

The appeals of the Revenue are dismissed

Bench: Shri Mahavir Prasad & Shri Manish Borad

…आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER VIRTUAL HEARING Assessment Year:2013-14 ACIT (Central)-1, Shri Rajul Bhargava, Indore Indore बनाम/ (Appellant) (Respondent ) Vs. P.A. No.AICPP7540A Assessment Year:2013-14 ACIT (Central)-1, Shri Raunak Maru, Indore Indore बनाम/ (Appellant) (Respondent ) Vs. P.A. No.BQDPM6420L Revenue by Shri Amit Soni, Sr.DR Assessee by Shri Ajay Tulsiyan, CA Date of Hearing: 19.01.2022 Date of Pronouncement: 21. 03.2022 आदेश / O R D E R PE…