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“reassessment proceedings”

ReassessmentSections 147-151Sections 147-1518,150 judgments

The decision most relied on for reassessment proceedings is CIT v. Kelvinator of India Ltd. (320 ITR 561), cited in 1,673 judgments on BharatTax.

Leading authorities on reassessment proceedings

CIT v. Kelvinator of India Ltd.
320 ITR 561 · 2010 · Supreme Court
1,673
citing judgments

An Assessing Officer cannot initiate reassessment proceedings under Section 147 of the Income Tax Act based on a mere change of opinion. Reassessment is permissible only when there is fresh tangible material leading to the belief of income escapement, not merely a review of existing facts.

GKN Driveshafts (India) Ltd. v. ITO
259 ITR 19 · 2003 · Supreme Court
1,349
citing judgments

When a notice under Section 148 of the Income Tax Act is issued, the Assessing Officer is bound to furnish reasons for reopening upon the assessee's request and must dispose of the assessee's objections to the notice by passing a speaking order.

ACIT v. Rajesh Jhaveri Stock Brokers Pvt. Ltd.
291 ITR 500 · 2007 · Supreme Court
1,030
citing judgments

For initiating reassessment proceedings under Section 147, the Assessing Officer needs only prima facie material providing a reason to believe that income has escaped assessment. Conclusive proof or the sufficiency/correctness of the material is not required at the stage of issuing the notice under Section 148.

Raymond Woollen Mills Ltd. v. ITO
236 ITR 34 · 1999 · Supreme Court
862
citing judgments

For reassessment proceedings under Section 148, the Assessing Officer only needs prima facie material to have a reason to believe income has escaped assessment. Conclusive proof or evaluation of the sufficiency and correctness of such material is not required at the stage of issuing the notice.

ITO v. Lakhmani Mewal Das
103 ITR 437 · 1976 · Supreme Court
721
citing judgments

For reassessment proceedings, the 'reason to believe' that income has escaped assessment must be based on some material and not mere suspicion, establishing a live link between the information and the belief. Furthermore, for reassessment beyond four years, there must be a specific finding of the assessee's failure to disclose fully and truly all material facts.

Hindustan Lever Ltd. v. R.B. Wadkar
268 ITR 332 · 2004 · High Court
695
citing judgments

The validity of reassessment proceedings initiated under Section 147, by issuing a notice under Section 148, must be judged solely on the reasons originally recorded by the Assessing Officer. These recorded reasons cannot be supplemented, improved upon, or modified at any later stage.

PCIT v. Meenakshi Overseas Pvt. Ltd.
395 ITR 677 · 2017 · High Court
471
citing judgments

Reassessment proceedings initiated solely based on an investigation wing/appraisal report, without the Assessing Officer's independent application of mind to form a 'reason to believe' that income has escaped assessment, are beyond jurisdiction, bad in law, and void ab initio.

Ranbaxy Laboratories Ltd. v. CIT
336 ITR 136 · 2011 · High Court
398
citing judgments

In reassessment proceedings under Section 147/148, the Assessing Officer can assess other income not specified in the original notice if the initial ground for reopening assessment is found to be valid. However, if the income for which the assessment was initially reopened is found not to have escaped assessment, the Assessing Officer cannot proceed to assess any other income.

Judgments citing reassessment proceedings

Sanguine Media Limited, Chennai vs. PCIT-3, Chennai

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

ITA 936/CHNY/2024[2017-18]Status: DisposedITAT Chennai01 Jan 2025AY 2017-18

Bench: Shri George George Kand Shri Jagadishआयकर अपील सं./Ita No.: 936/Chny/2024 िनधा"रण वष"/Assessment Year:2017-18 Sanguine Media Ltd., The Principal Commissioner Plot No.135A, 1St Floor, Vs. Of Income Tax - 3, Chandran Nagar Main Road, Chennai. Chrompet, Chennai – 600 044. Pan: Aaecs 2217C (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Neeraj Mangla, Ca (Through Virtual Mode) ""यथ" क" ओर से/Respondent By : Shri R. Clement Ramesh Kumar, Cit सुनवाई क" तारीख/Date Of Hearing : 18.12.2024 घोषणा क" तारीख/Date Of Pronouncement : 01.01.2025

For Appellant: Shri Neeraj Mangla, CAFor Respondent: Shri R. Clement Ramesh Kumar, CIT
Section 143(3)Section 147Section 148Section 263

revisionary proceedings without any fresh material is legally not justifiable and needs to be quashed. It was submitted that during the course of reassessment proceedings, the assessee had denied any knowledge of loan taken from Shri Jignesh Shah and had requested the AO to furnish the details if any available ... notice dated 21/03/2022, the assessee company was asked to furnish documentary evidences including statement of Sh. Jignesh Shah on the pretext that since the reassessment proceedings are Faceless and the office of Ld. AO is unable to contact to Central Charges. This substantiates that even details of alleged transactions

Lalitaben Dipakbhai Modh, Surat vs. PCIT-3, Ahmedabad

In the result, the appeal filed by the Assessee is hereby allowed

ITA 715/AHD/2024[2013-14]Status: DisposedITAT Ahmedabad31 Dec 2024AY 2013-14

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

Section 139(1)Section 147Section 148Section 271F

been used to facilitate the unaccounted income by way of LTCG/Short term capital loss, etc. On perusal of bank statement furnished during the reassessment proceedings, it was noticed that the assessee had received huge credit from certain entities and same has been invested in securities/share market. However, the explanation ... such credit transaction was not called for by the A.O. during the course of reassessment proceedings. Moreover, on perusal of computation of income, it was noticed that you had shown short term capital loss of Rs.(-) 38,77,898/-. On perusal of statement of short-term capital gain/loss

Rahul Monal Chokshi, Ahmedabad vs. National Faceless Assessment Centre, Delhi Present Jurisdiction : the ITO, Ward-5(3)(2), Ahmedabad

In the result, the appeal filed by the Assessee is allowed for statistical purpose

ITA 1494/AHD/2024[2016-17]Status: DisposedITAT Ahmedabad31 Dec 2024AY 2016-17

Bench: DR. BRR Kumar (Vice President), Shri T.R. Senthil Kumar (Judicial Member)

Section 139(1)Section 147Section 148Section 54FSection 54F(4)

assessee failed to make a claim of deduction u/s. 54F in the original Return of Income, the same cannot be claimed in the reassessment proceedings. Therefore requested to uphold the order passed by the lower authorities. 8. We have given our thoughtful consideration and perused the materials available on record ... transaction in the original Return of Income but claimed for the first time the claim of exemption u/s. 54F of the Act in the reassessment proceedings. Since the assessee has made I.T.A No. 1494/Ahd/2024 A.Y. 2016-17 Page No 5 Rahul Monal Chokshi vs. ITO reinvestment of the entire sale

Deputy Commissioner of Income Tax, Kolkata vs. Bhawani Alumina Products Pvt. Ltd., Howrah

In the result, the appeal of the revenue is dismissed

ITA 1650/KOL/2024[2012-13]Status: DisposedITAT Kolkata31 Dec 2024AY 2012-13

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 143(2)Section 143(3)Section 264Section 68

accepted without any further quarry and further the return for AY 2009-10 of the applicant company was also accepted by the department in reassessment proceedings. According to him, the share applicant’s audited financial statement since AY 2009-10 and AY 2012-13 has already been attached. His further

ITO (It), Ward 2(1), Chennai vs. Rohitkumar Nemchand Piparia, Chennai

The appeal stands allowed for statistical purposes

ITA 1326/CHNY/2023[2008-09]Status: DisposedITAT Chennai31 Dec 2024AY 2008-09

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.1326/Chny/2023 (िनधा*रण वष* / Assessment Year: 2008-09) Income Tax Officer Shri Rohitkumar Nemchand Piparia बनाम International Taxation Ward-2(1), #34 (Old #77), Meddox Street, / Vs. Chennai. Choolai, Chennai-600 112. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Akzpp-0661-M (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Assessee By : Shri T. Banusekar & Ms.Samyuktha Banusekar (Advocates) - Ld. Ars " थ"कीओरसे/Revenue By : Shri Nilay Baran Som (Cit) - Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 07-10-2024 घोषणाकीतारीख /Date Of Pronouncement : 31-12-2024 आदेश / O R D E R

For Appellant: Shri T. Banusekar & Ms.SamyukthaFor Respondent: Shri Nilay Baran Som (CIT) - Ld. DR
Section 143(3)Section 148Section 271(1)(c)

from the information as available with the department. The assessee did not disclose the transaction either in regular return or in return filed in reassessment proceedings. Such non- disclosure amount to concealment of income. Had the case not been reopened, entire gains would have escaped the tax liability thereby avoiding ... written submissions, has argued that the gains were not reflected either in regular return of income nor in return of income filed during reassessment proceedings. This is despite the fact that the case was reopened to examine the issue of capital gains on transfer of shares. As a recipient

Shri Satish Chandra Katta, Jaipur vs. Deputy Commissioner of Income Tax, Jaipur

ITA 438/JPR/2018[2012-13]Status: DisposedITAT Jaipur31 Dec 2024AY 2012-13
For Appellant: Shri Rohan Sogani (C.A.)For Respondent: Shri Arvind Kumar (CIT-DR)
Section 142(1)Section 143(3)Section 144Section 153ASection 50C

file of the AO for de novo verification of all factual aspects. The assessee is also directed to cooperate fully during the reassessment proceedings. GROUND NO. 3 33. In relation to Ground No. 3, an addition of Rs. 98,82,400 has been made to the income of the assessee ... assessee with the specific notings, and thereafter make additions, if any, based on conclusive evidence. The assessee is directed to cooperate fully during the reassessment proceedings. GROUND NO. 5 36 ITA No. 331/JPR/2017 & 435 to 440/JPR/2018 ITA No. 467,468 & 352/JPR/2018 & 145 & 151/JPR/2024 41. In relation to Ground

M/S Srimy Jewels Private Limited, Mumbai vs. The Assessing Officer, Assessment Unit, Income Tax Department, Mumbai

In the result the appeal filed by the assessee stands allowed

ITA 4892/MUM/2024[2013-14]Status: DisposedITAT Mumbai31 Dec 2024AY 2013-14

Bench: Smt Beena Pillaiassessment Year: 2013-14 M/S. Srimy Jewels Dcit Circle 4(3)(1), Private Limited Thrugh Mumbai. Mr. Subodh Modi, Director Of The Appellant Company Je-3010, Vs. Bhrat Diamond Bourse, Bandra Kurla Complex, Bandra East, Mumbai- 400051. Pan: Aagcs0025G Appellant : Respondent

For Appellant: RespondentFor Respondent: Ms. Pradnya Gholap (Sr. D.R.)
Section 143(3)Section 148Section 250(6)Section 68

case of Raymond Woollen Mills Ltd v ITO 236 ITR 34(SC). Hon'ble Apex Court held that in determining whether commencement of reassessment proceedings was valid, it has only to be seen whether there was prima facie some material on the basis of which the department could reopen ... under the old regime is issued beyond the period of limitation specified under section 149 of the Act applicable the year under consideration. • The reassessment proceeding having culminated without issuance of notice under section 148 of the Act is bad in law. • The notice under section 148 is issued without

Ashok Amratlal Shah, Mumbai vs. ITO Ward 42(1)(1), Mumbai

In the result, the appeals of the assessee bearing ITA Nos

ITA 4286/MUM/2024[2015-16]Status: DisposedITAT Mumbai31 Dec 2024AY 2015-16

Bench: Shri.B.R. Baskaran & Shri Anikesh Banerjee- A.Y. 2015-16 - A.Y. 2016-17 - A.Y. 2017-18

For Appellant: Ms. Kinjal BhutaFor Respondent: Shri Ram Krishn Kedia (SR DR)
Section 115BSection 132Section 139(1)Section 144BSection 147Section 148Section 148ASection 149Section 151Section 151A

opening the assessment u/s. 147 of the Income Tax Act based on invalid sanction u/s.151 of the Income Tax Act, 1961. That the entire reassessment proceeding is void-ab-initio. 3. The Ld. Commissioner of Income Tax Appeals - NFAC erred in conforming the assessment order passed ... which is more than 50 lakhs. As such, it is held that no such protection for the appellant against the reassessment proceedings is available as per the provisions of the section 149(1)(b) of the Act. Further, the case law relied upon by the appellant have been perused

Rahul Kumar Singh, Ghansoli, Navi-Mumbai vs. Assessing Officer Income Tax Department Ward 28(2)(1), Mumbai, Vashi, Navi-Mumbai

ITA 3112/MUM/2024[2018-19]Status: DisposedITAT Mumbai31 Dec 2024AY 2018-19
For Appellant: Shri Mohan Tandon, ARFor Respondent: Shri Manoj Kumar, Sr. DR
Section 133(6)Section 143(2)Section 144Section 148Section 148ASection 69Section 69A

IN THE INCOME TAX APPELLATE TRIBUNAL “K (SMC)” BENCH, MUMBAI BEFORE MS KAVITHA RAJAGOPAL, JM & SHRI OMKARESHWAR CHIDARA, AM Ι

Navjyoti Farming Private Limited, Belapur vs. ITO, Ward -3, Panvel

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

ITA 1020/PUN/2024[2012-13]Status: DisposedITAT Pune30 Dec 2024AY 2012-13

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2012-13

For Appellant: Shri Ashwani KumarFor Respondent: Shri Amol Khairnar, CIT-DR
Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 250Section 68

much as he was not justified to uphold the action of the Learned Income Tax Officer, Ward 3, Panvel in resorting to reassessment proceedings and issuing notice under section 148 of the Act. 2 That the order dated 28.03.2024 passed u/s 250 of the "Act" by the National Faceless Appeal

Ala Service Co-Operative Bank Ltd.No.R 321, Kodungallur vs. Income Tax Officer, Aayakar Bhavan

In the result, the appeal filed by the assessee is dismissed with respect to the issue agitated before us

ITA 586/COCH/2023[2010-11]Status: DisposedITAT Cochin30 Dec 2024AY 2010-11

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

For Appellant: Sri.C.A.Jojo, AdvocateFor Respondent: Smt.Leena Lal, Senior AR
Section 139(1)Section 148Section 80PSection 80P(2)(d)

income, but has only filed the return income after issuance of notice u/s.148 of the Income-tax Act, 1961. During the course of reassessment proceedings, the Assessing Officer observed that the assessee has earned interest on fixed deposits and has claimed deduction u/s.80P(2)(d) of the Act in respect

Siyaram Exports India Private Limited, Jaipur vs. ITO Ward 6(4), Jaipur

ITA 151/JPR/2024[2013-14]Status: DisposedITAT Jaipur30 Dec 2024AY 2013-14
For Appellant: Shri Rohan Sogani (C.A.)For Respondent: Shri Arvind Kumar (CIT-DR)
Section 142(1)Section 143(3)Section 144Section 153ASection 50C

file of the AO for de novo verification of all factual aspects. The assessee is also directed to cooperate fully during the reassessment proceedings. GROUND NO. 3 33. In relation to Ground No. 3, an addition of Rs. 98,82,400 has been made to the income of the assessee

Siyaram Exports India Private Limited, Jaipur vs. ITO Ward 6(4), Jaipur

ITA 145/JPR/2024[2011-12]Status: DisposedITAT Jaipur30 Dec 2024AY 2011-12
Section 142(1)Section 143(3)Section 144Section 153A

file of the AO for de novo verification of all factual aspects. The assessee is also directed to cooperate fully during the reassessment proceedings. GROUND NO. 3 33. In relation to Ground No. 3, an addition of Rs. 98,82,400 has been made to the income of the assessee ... assessee with the specific notings, and thereafter make additions, if any, based on conclusive evidence. The assessee is directed to cooperate fully during the reassessment proceedings. GROUND NO. 5 41. In relation to Ground No. 5, addition of Rs. 1,00,00,000 has been made to the income

Siyaram Exports India Pvt. Ltd., Jaipur vs. Deputy Commissioner of Income Tax, Jaipur

ITA 440/JPR/2018[2013-14]Status: DisposedITAT Jaipur30 Dec 2024AY 2013-14
For Appellant: Shri Rohan Sogani (C.A.)For Respondent: Shri Arvind Kumar (CIT-DR)
Section 142(1)Section 143(3)Section 144Section 153ASection 50C

file of the AO for de novo verification of all factual aspects. The assessee is also directed to cooperate fully during the reassessment proceedings. GROUND NO. 3 33. In relation to Ground No. 3, an addition of Rs. 98,82,400 has been made to the income of the assessee

Shri Satish Chandra Katta, Jaipur vs. Deputy Commissioner of Income Tax, Jaipur

In the result, Ground No. 3 is allowed for statistical purposes

ITA 437/JPR/2018[2011-12]Status: DisposedITAT Jaipur30 Dec 2024AY 2011-12
Section 142(1)Section 143(3)Section 144Section 153A

file of the AO for de novo verification of all factual aspects. The assessee is also directed to cooperate fully during the reassessment proceedings. GROUND NO. 3 33. In relation to Ground No. 3, an addition of Rs. 98,82,400 has been made to the income of the assessee ... assessee with the specific notings, and thereafter make additions, if any, based on conclusive evidence. The assessee is directed to cooperate fully during the reassessment proceedings. GROUND NO. 5 41. In relation to Ground No. 5, addition of Rs. 1,00,00,000 has been made to the income

Shri Satish Chandra Katta, Jaipur vs. Deputy Commissioner of Income Tax, Jaipur

ITA 436/JPR/2018[2010-11]Status: DisposedITAT Jaipur30 Dec 2024AY 2010-11
For Appellant: Shri Rohan Sogani (C.A.)For Respondent: Shri Arvind Kumar (CIT-DR)
Section 142(1)Section 143(3)Section 144Section 153ASection 50C

file of the AO for de novo verification of all factual aspects. The assessee is also directed to cooperate fully during the reassessment proceedings. GROUND NO. 3 33. In relation to Ground No. 3, an addition of Rs. 98,82,400 has been made to the income of the assessee ... assessee with the specific notings, and thereafter make additions, if any, based on conclusive evidence. The assessee is directed to cooperate fully during the reassessment proceedings. GROUND NO. 5 36 ITA No. 331/JPR/2017 & 435 to 440/JPR/2018 ITA No. 467,468 & 352/JPR/2018 & 145 & 151/JPR/2024 41. In relation to Ground

Dalu Vasu Hiranandani, Mumbai vs. ITO (It) - 2(2)(1), Mumbai

ITA 1788/MUM/2024[2012-13]Status: DisposedITAT Mumbai30 Dec 2024AY 2012-13

Bench: Shri Amit Shukla, Jm & Shri Omkareshwar Chidara, Am

For Appellant: Shri Nishant Ruparel , AR
Section 143(3)Section 147Section 147(3)Section 24

under the head “Income from House Property” was assessed under the same head and completed u/s. 143(3) of the Act. Subsequently, in the reassessment proceedings, the Ld. AO took out a part of income which was originally assessed as “Income from House Property” and assessed it as “Income from ... treated as “Income from House Property” and accordingly reduced the “Standard Deduction” u/s 24 of the Act. 4. Aggrieved by the addition made during reassessment proceedings, the appellant filed an appeal before the Ld. CIT(A) objecting to the reopening of assessment and the addition made. Detailed written submissions were

Eapen George, Bengaluru vs. Income Tax Officer, Ward International Taxation 1(1), Bengaluru

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 2126/BANG/2024[2019-20]Status: DisposedITAT Bangalore27 Dec 2024AY 2019-20

Bench: Shri Prashant Maharishi & Shri Soundararajan K.

For Appellant: Shri Suresh Muthukrishna, CAFor Respondent: Ms. Nandini Das, CIT(DR)(ITAT), Bengaluru
Section 139Section 142Section 144Section 144CSection 147Section 148Section 234Section 69

issuing a notice u/s. 148 of the Act on 29/3/2023 on the basis of information received from insight Portal of CBDT. In reassessment proceedings, it was found that assessee has neither filed any return of income or replied to notices under section ... show cause notices issued. 4. Thus, the ld. AO proceeded with reassessment proceedings on merits. The information was received through the insight Portal in accordance with the risk management strategy of the Central Board of Direct Taxes that assessee has entered into transactions amounting to Rs.1,46,37,018 which

Chiara Nath, Delhi vs. DCIT - Circle Int .Tax 2(2)(2), New Delhi

In the result, appeal of the assessee is allowed

ITA 1924/DEL/2024[2015-16]Status: DisposedITAT Delhi27 Dec 2024AY 2015-16

Bench: Shri Vimal Kumar & Shri Avdhesh Kumar Mishrachiara Nath Vs. Dcit 7, Maulseri House, Circle – Int. Tax 2(2)(2), Kapashera Estate New Delhi Delhi – 110 037 Pan : Aafpn 8540 H (Appellant) (Respondent) Assessee By Shri M. R. Sahu, C.A. & Shri Akhil Mangla, C.A. Respondent By Shri Vijay B. Vasanta, Cit-D.R. Date Of Hearing 26.11.2024 Date Of Pronouncement 27.12.2024 O R D E R Per Vimal Kumar, Jm:

Section 142(1)Section 144CSection 144C(13)Section 147Section 148Section 148ASection 149(1)

ground no.5 as under : "5. That on the facts, and in the circumstances of the case and in law, the AO erred in initiating reassessment proceedings against the Assessee without appreciating the fact that time limit for initiation of income escaped assessment proceedings u/s.147 under the Amended Provisions w.e.f

Best Realtrech India P.Ltd, New Delhi vs. ITO, Ward-4(3), New Delhi

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

ITA 390/DEL/2020[2011-12]Status: DisposedITAT Delhi27 Dec 2024AY 2011-12

Bench: Shri Mahavir Singh & Shri S. Rifaur Rahmanm/S Best Realtrech Income Tax Officer, (India) Pvt. Ltd., Ward-4(3), New Delhi H-8, First Floor, Vs. Best Plaza, Netaji Subhash Place, Pitampura, Delhi-110034 Pan:Aadcb1848D (Appellant) (Respondent)

Section 132Section 142(1)Section 143(2)Section 143(3)Section 147Section 148Section 153CSection 68

Rs.6.05 Cr.as against noted by AO in his order at Rs.6.75 Cr. He explained that by reply dated 24/10/2018. “3. That to initiate the reassessment proceeding u/s 148, the Ld. AO has to believe that, the Income of the Assessee Company has escaped from assessment. Re-assessment u/s 148 cannot ... facts that your good self has not even verified the amount of loan taken by the Assessee Company, your good self has initiated the reassessment proceeding for the amount of Rs 6.75 crore, however the Assessee Company has received unsecured loan of Rs 6.05 Crore therefore initiation of reassessment proceeding