“reassessment proceedings”

Mukesh Jain HUF, Jaipur vs. DCIT, Jaipur

In the result, the appeal of the assessee is allowed

Bench: Reopening The Assessment & Without Independent Application Of Mind. Thus, The Action Of The Ld. Ao In Reopening The Assessment U/S 148 & The Consequent Reassessment Order So Passed Deserves To Be Held Bad In Law.

truly and fully disclosing the material necessary for assessment, more particularly when all the details were filed alongwith return of income. Thus, the reassessment proceedings are bad in law and void ab initio. 1.3 That, the Ld. CIT(A) has further erred in confirming the action ... reopening, the AO only needs prima facie material to believe that income has escaped assessment, and a detailed inquiry is required only during the reassessment proceedings. Further, in ACIT v. Rajesh Jhaveri Stock Brokers (2007) 291 ITR 500 (SC), the Hon'ble Supreme Court ruled that the sufficiency of reasons

Deputy Commissioner of Income Tax, Jaipur vs. Bharat Spun Pipe and Construction Company, Jaipur

In the result the appeal of the revenue in ITA no

dated 30.07.2022 were issued by the JAO (i.e. local jurisdictional officer) and not in the prescribed faceless manner. It is thus submitted that reassessment proceedings so completed are not accordance with law and void-ab-initio. In support of above, reliance is placed on the order of Hon'ble Bombay ... prescribed faceless manner, thus, department proceeded under unamended procedure of law which was in contravention to statute i.e. Finance Act, 2021, and thus, impugned reassessment proceedings were to be quashed Held, yes [Para 13] [In favour of assessee] Furthermore, as the case of the assessee firm was re-opened solely

Sdc Construction, Jaipur vs. ITO, WD 1(3), Jiapur

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

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

/NFAC is illegal, unjustified, arbitrary and against the facts of the case. Relief may please be granted by quashing the entire reassessment proceedings initiated against the assessee under Section 147. 4. In the facts and circumstances the case and in law, Id. CIT(A)/NFAC has erred in confirming ... /NFAC is illegal, unjustified, arbitrary and against the facts of the case. Relief may please be granted by quashing the entire reassessment proceedings initiated against the assessee under Section 147. Our Submission We submit that reopening u/s 148 of the act is bad in law as no material has been

Deputy Commissioner of Income Tax, Central Circle-3, Income Tax Office vs. Supreme Polymers Private Limited, Jaipur

In the results the appeal of the

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आयकर अपील सं. / ITA No. 189/JP/2025 निर्धारण वर्ष / Assessment Year : 2015-16 DCIT, Central Circle-03, Jaipur बनाम Vs. Supreme Polymers Pvt. Ltd. 137-138, Industrial Area, Jhotwara, Jaipur स्थायी लेखा सं. / जीआईआर सं./PAN/GIR No.: AACCS 5773 P अपीलार्थी / Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से / Assessee by: Shri Gaurav Nahata, CA राजस्व की ओर से / Revenue by : Mrs. Anita Rinesh, JCIT, Sr. DR सुनवाई की ता

have been saved. ........................... 3. However, so far as the prayer made on behalf of the Revenue to permit them to initiate the reassessment proceedings is concerned, it is observed that it will be open for the Revenue to initiate the re-assessment proceedings in accordance with ... case of completed/unabated assessment, the only remedy available to 26 DCIT vs. Supreme Polymers Pvt. Ltd. the Revenue would be to initiate the reassessment proceedings under sections 147/48 of the Act, subject to fulfilment of the conditions mentioned in sections 147/148, as in such a situation, the Revenue cannot

Shivam Readymix Private Limited, Jaipur vs. ACIT, Jaipur

In the result, the appeal of the assessee is allowed

Assessment reopened on the ground that the assessee had accepted accommodation entries from some parties in the garb of share capital – However during the reassessment proceedings, the AO also made certain additions of the credits received from some other parties though on that basis the assessment was not reopened – Reasons ... assessment framed. Ram Singh 306 ITR 343 (Rajasthan) Reassessment – Income escaping assessment – Income believed to have escaped investment explained by assessee – Tribunal rightly holding reassessment proceedings initiated on non-existing facts and invalid – Income Tax Act, 1961, ss.147, 148. Hon'ble Court in this case has inter alia held that

Rsd Containers Private Limited, Jaipur vs. ITO, Ward 7(1), Jaipur

In the result, the appeal of the assessee is allowed

pursuance thereto the ld. AO issued a letter dated 01/06/2022 with the caption providing information and material relied upon for initiating reassessment proceedings u/s 148A of the Income Tax Act, 1961 (APB 8-9). In this letter an annexure A was provided containing the so called material wherein ... During the assessment proceedings the appellant again and again demanded for the material available with the department on the basis of which the reassessment proceedings were initiated but nothing was provided except the screen shot. The ld. AO (Faceless Assessment Unit) considered such alleged accommodation entry for Rs. 1.37 Crore