“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

Mr. Mohamadli Shaikh, Mumbai vs. ITO-21(2)(3), Mumbai

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

ITA 335/MUM/2024[2010-11]Status: DisposedITAT Mumbai29 Jul 2024AY 2010-11

Bench: Shri Prashant Maharishi, Am Mr. Mohamadli Shaikh Ito, Ward 21(2)(3), Room No.4, Second Floor, Aaykar Bhavan, 107, Hari Jairam Bldg, Mauland Vs. Azad Road, Mumbai-400 020 Jalob Circle, Mumbai-400 011 (Appellant) (Respondent) Pan No. Creps9674R

For Appellant: Shri Akhilesh Deshmukh, ARFor Respondent: Shri R.R. Makwana, DR

Section 143Section 143(2)Section 143(3)Section 147Section 148Section 22Section 44ASection 68

officer is against the law and facts on the file in as much as he was not justified to the resont to the reassessment proceedings under section 148 and according the notice issued 148 and according the notice issued under section

M/S Arvind Champaklal Shah, Mumbai vs. ITO Ward 17(1)(1), Mumbai

Appeal is partly allowed

ITA 4385/MUM/2023[2010-11]Status: DisposedITAT Mumbai29 Jul 2024AY 2010-11

Bench: MS. PADMAVATHY S, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Rajesh ShahFor Respondent: Shri R.R. Makwana

Section 143(3)Section 143(3)(ii)Section 147Section 68

Section 147 of the Act. 4. Being aggrieved the Appellant carried the issue in appeal before the CIT(A) challenging the validity of the reassessment proceedings as well as the addition of INR 35,35,000/- made under Section 68 of the Act on merits. The CIT(A) upheld ... validity of reassessment proceedings and granted limited relief by deleting the addition of INR 35,000/- in respect of commission expenses. Thus, the CIT(A), vide order dated 19/10/2023, confirmed the addition made under Section 68 of the Act in respect of loan of INR 35,00,000/-. Therefore

K & S Fincon Pvt. Ltd., U.P vs. ITO, Ward-14(1), Delhi

Appeal of the assessee is allowed for statistical purposes

ITA 550/DEL/2024[2012-13]Status: DisposedITAT Delhi29 Jul 2024AY 2012-13

Bench: Shri Kul Bharat & Shri Avdhesh Kumar Mishraassessment Year: 2012-13

Section 133(6)Section 143Section 143(3)Section 144Section 148Section 250Section 68

appeal before the Tribunal. 3. Learned counsel for the assessee submitted that submissions were duly made before the Assessing Officer during the course of reassessment proceedings, however, being not satisfied with the explanation of the assessee the AO made the impugned addition ... pursuing its case. 5. We have heard rival submissions and perused the material available on record. The stand of the assessee is that in reassessment proceedings submissions were duly made before the Assessing Authority which were not considered by the AO and in appeal before the learned First Appellate Authority

Exotic Realtors and Developers, Chandigarh vs. Pr.CIT-1, Chandigarh

In the result, appeal of the assessee is allowed

ITA 189/CHANDI/2023[2018-19]Status: DisposedITAT Chandigarh26 Jul 2024AY 2018-19

Bench: SHRI. KRINWANT SAHAY (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

For Appellant: Shri Ajay Jain, C.AFor Respondent: Shri Rohit Sharma, CIT DR

Section 142(1)Section 143(2)Section 143(3)Section 253Section 263

derived to compute the income of real estate business. 16.16 In spite of above, another assessment order dt. 24/03/2023 supra was made wherein the reassessment proceedings took place under section 147 of the act and issue therein was that an information was available with the Department that the assessee

Danabhai Bharvad, Vadodara vs. The Income Tax Officer, Ward-1(3)(1), Vadodara

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

ITA 844/AHD/2024[2010-11]Status: DisposedITAT Ahmedabad26 Jul 2024AY 2010-11

Bench: Ld. Cit(A) In Turn Has Arisen From The Assessment Order Dated 28-11- 2017 Passed By The Assessing Officer U/S. 144 R.W.S. 147 Of The Income-Tax Act 1961. 2. The Grounds Of Appeal Raised By The Assessee In Memo Of Appeal Filed With Tribunal, Reads As Under:- “1. The Assessing Officer & Commissioner Appeal Have Erred In Law & In Facts, In Considering The Cash Deposit As Un-Explained Cash Deposit.

For Appellant: Shri Mayur Thakkar, AdvocateFor Respondent: Shri Sanjay Jain, Sr. D.R

Section 133(6)Section 139Section 142(1)Section 144Section 147Section 148Section 156Section 249(4)Section 250Section 28

issued by the AO u/s 148. Statutory notices u/s 142(1) was issued by the AO from time to time during the course of reassessment proceedings. In response thereof, none appeared on behalf of the assessee before the AO , and no submissions were filed by the assessee. The AO also ... Statutory notices u/s.142(1) were issued by the AO from time to time during the course of reassessment proceedings, but there was no compliance on the part of the assessee . The AO invoked powers u/s 133(6) and called for bank statements directly from the Bank of India. The bank

Deputy Commissioner of Income Tax, Income Tax Department vs. Anilkumar Ochhavlal Desai, Vadodara

In the result, the appeal of the Department is dismissed

ITA 292/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad26 Jul 2024AY 2017-18

Bench: Jurisdictional Assessing Officer?

Section 143(1)Section 143(2)Section 159Section 250Section 68

assessment proceedings had been initiated after the death of the assessee and the notice was issued against a dead person, held that the reassessment proceedings having been initiated against the dead person and that too after a long delay, even if section 159 of the Act is attracted, in that ... Therefore, as the legal heir, upon being served with the notice under section 148, has participated in the proceedings, the reassessment proceedings initiated are legal and valid. Reliance has been placed upon the decision of the Madras High Court in the case of V. Ramanathan v. Commissioner of Income

Vandana Daga, Chennai vs. Pr. CIT, Chennai

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

ITA 1056/CHNY/2024[2015-16]Status: DisposedITAT Chennai26 Jul 2024AY 2015-16

Bench: Shri S.S. Viswanethra Ravi & Shri S.R. Raghunathaआयकर अपील सं./I.T.A. No.1056/Chny/2024 िनधा"रण वष"/Assessment Year: 2015-16 Vandana Daga, Vs. The Income Tax Officer, 19-C, Nungambakkam High Road, Non Corporate Ward 3(5), Nungambakkam, Chennai 600 034. Chennai. [Pan:Aclpv1469P] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri M. Karunakaran, Advocate ""थ" की ओर से/Respondent By : Shri R. Clement Ramesh Kumar, Cit सुनवाई की तारीख/ Date Of Hearing : 24.07.2024 घोषणा की तारीख /Date Of Pronouncement : 26.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: This Appeal Filed By The Assessee Is Directed Against The Order Dated 27.03.2024 Passed By The Ld. Principal Commissioner Of Income Tax, Chennai 4, Chennai Under Section 263 Of The Income Tax Act, 1961 [“Act” In Short] For The Assessment Year 2015-16. 2. Ground No. 13 Raised In The Appeal Of The Assessee Is Not Pressed & Accordingly Dismissed As Not Pressed. 3. Ground Nos. 1 To 12 Raised By The Assessee Concerning Only Issue Questioning The Validity Of Jurisdiction Assumed By The Ld. Pcit Under Section 263 Of The Act.

For Appellant: Shri M. Karunakaran, AdvocateFor Respondent: Shri R. Clement Ramesh Kumar, CIT

Section 142(1)Section 143(3)Section 147Section 148Section 263

No.1056/Chny/24 by the ld. PCIT is not maintainable as the Assessing Officer conducted detailed enquiry in respect of the same issues under original and reassessment proceedings by accepting the submissions and relating to the same issues, the ld. PCIT has showcased under section ... term capital gains as well as short term capital gains. The assessee filed reply dated 17.11.2021 to the said questionnaire during the course of reassessment proceedings. On perusal of the said reply, we note that the assessee furnished details and offered explanations in detail as per the questionnaire

Visteon Corporation, Michigan vs. DCIT, Intenl Taxn, Circle-2(2), Chennai

In the result, the appeals filed by the assessee in ITA Nos

ITA 262/CHNY/2023[2017-18]Status: DisposedITAT Chennai26 Jul 2024AY 2017-18

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita Nos.:259, 260, 261 & 262/Chny/2023 िनधा"रण वष"/Assessment Years:2014-15, 2015-16, 2016-17 & 2017-18 & S.A. Nos. 28, 29 & 30/Chny/2023 [In Ita Nos. 259, 261 & 262/Chny/2023] M/S. Visteon Corporation, The Deputy Commissioner Grace Lake Corporation Centre, Vs. Of Income Tax, Van Buren Township, International Taxation, Michigan - 48111 Circle 2(2), Chennai. Pan: Aadcv 5660K (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Ajay Vohra, Sr. Advocate (By Virtual) Shri Aditya Vohra, Advocate ""यथ" क" ओर से/Respondent By : Shri Nilay Bara Som, Cit सुनवाई क" तारीख/Date Of Hearing : 01.07.2024 घोषणा क" तारीख/Date Of Pronouncement : 26.07.2024 आदेश /O R D E R Per Mahavir Singh: These Three Appeals By The Assessee In Ita Nos.259, 261 & 262/Chny/2023 Are Arising Out Of The Final Assessment Orders Passed By The Assistant Commissioner Of Income Tax, International Taxation Circle 2(2), Chennai Vide Orders Of Even Date 06.01.2023 In Pursuant To The Directions Of The Dispute Resolution Panel-2

For Appellant: Shri Ajay Vohra, Sr. Advocate (By Virtual)For Respondent: Shri Nilay Bara Som, CIT

Section 142(1)Section 263

assessee stated that, first of all, he is arguing on merits and thereafter he will argue on the issue of validity of reassessment proceedings i.e., jurisdictional issue. The ld.counsel for the assessee drew our attention to the following Ground Nos. 5 to 8 raised on merits:- 5. The learned

Visteon Corporation, Michigan vs. DCIT, Intenl Taxn, Circle-2(2), Chennai

In the result, the appeals filed by the assessee in ITA Nos

ITA 261/CHNY/2023[2016-17]Status: DisposedITAT Chennai26 Jul 2024AY 2016-17

For Appellant: Shri Ajay Vohra, Sr. Advocate (By Virtual)For Respondent: Shri Nilay Bara Som, CIT

Section 142(1)Section 263

Visteon Corporation, Michigan vs. DCIT International Taxation, Circle 2(2), Chennai

In the result, the appeals filed by the assessee in ITA Nos

ITA 260/CHNY/2023[2015-16]Status: DisposedITAT Chennai26 Jul 2024AY 2015-16

For Appellant: Shri Ajay Vohra, Sr. Advocate (By Virtual)For Respondent: Shri Nilay Bara Som, CIT

Section 142(1)Section 263

Visteon Corporation, Michigan vs. DCIT, Intenl Taxn, Circle-2(2), Chennai

In the result, the appeals filed by the assessee in ITA Nos

ITA 259/CHNY/2023[2014-15]Status: DisposedITAT Chennai26 Jul 2024AY 2014-15

For Appellant: Shri Ajay Vohra, Sr. Advocate (By Virtual)For Respondent: Shri Nilay Bara Som, CIT

Section 142(1)Section 263

Dinesh Bhoja Shetty, Mumbai vs. DCIT, Circle 41(2)(1), Mumbai

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 369/MUM/2024[2011-12]Status: DisposedITAT Mumbai26 Jul 2024AY 2011-12

Bench: Shri Prashant Maharishi, Am & Shri Sunil Kumar Singh, Jm Dcit, Circle 41(2)(1) Dinesh Bhoja Shetty Kautilya Bhavan, A 102, Pinewood Chs Ltd. Bandra Kurla Complex, Vasant Garden, Vs. Near Swapna Nagri, Bandra East, Mulund 400080 Mumbai-400 051 (Appellant) (Respondent) Pan No. Aakps8328K Assessee By : Shri Bhavya Sandesha, Ar Revenue By : Smt. Mahita Nair, Dr Date Of Hearing: 30.05.2024 Date Of Pronouncement : 25.07.2024

For Appellant: Shri Bhavya Sandesha, ARFor Respondent: Smt. Mahita Nair, DR

Section 143Section 143(3)Section 147Section 148Section 234ASection 250Section 68Section 69

could not submit the evidences of payment of ₹3 lacs for the credit card. The reason given by the assessee is that as the reassessment proceedings were carried out in 2018 assessee was not in possession of those details because of passage of time. We find that it is correct

Moushumi Mishra Gahlot, New Delhi vs. DCIT, Central Circle-4, New Delhi

ITA 68/DEL/2024[2009-10]Status: DisposedITAT Delhi26 Jul 2024AY 2009-10

Bench: SHRI G.S. PANNU, HON'BLE (Vice President), SHRI ANUBHAV SHARMA (Judicial Member)

For Appellant: Shri Vinod Kumar Bindal, CA &For Respondent: Shri Anushul, Sr. DR

Section 127Section 139Section 142(1)Section 153CSection 271Section 271(1)(b)Section 69C

impugned penalty order is otherwise also void ab initio and illegal because the impugned compliance desired by itself was in an illegal reassessment proceedings initiated u/s 153C of the Act, without jurisdiction and mandatory requirements as has been held in DCIT vs U K Paints (Overseas) Ltd 2023-TIOL

Dee Are Texfab Pvt. Ltd., Ahmedabad vs. The PCIT, Ahmedabad-1, Ahmedabad

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

ITA 743/AHD/2024[2014-15]Status: DisposedITAT Ahmedabad25 Jul 2024AY 2014-15

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.743/Ahd/2024 "नधा"रण वष" /Assessment Year : 2014-15 Dee Are Texfab Pvt.Ltd. The Pcit 149, New Cloth Market बनाम/ Ahmedabad-1 O/S. Raipur Gate Raipur V/S. Ahmedabad – 380 002 (Gujarat) "थायी लेखा सं./Pan: Aaecd 5136 H (अपीलाथ"/ Appellant) …. ("" यथ"/ Respondent) Assessee By : Shri Chetan Agarwal, Ar Revenue By : Shri Kamlesh Makwana, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 22/07/2024 घोषणा क" तार"ख /Date Of Pronouncement: 25/07/2024 आदेश/O R D E R Per Shri Makarand V. Mahadeokar, Am: This Appeal Is Filed By The Assessee Against The Order Dated 28/03/2024 Passed By The Principal Commissioner Of Income Tax, Ahmedabad [Hereinafter Referred To As “The Pr.Cit(A)” In Short] Arising Out Of The Assessment Order Dated 27/03/20223 Passed By The Assessing Officer (Ao) Under Section 147 Read With Section 144B Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Relevant To The Assessment Year (Ay) 2014-15. Dee Are Texfab Pvt.Ltd. Vs. The Pr.Cit Asst. Year : 2014-15

For Appellant: Shri Chetan Agarwal, ARFor Respondent: Shri Kamlesh Makwana, CIT-DR

Section 132Section 142(1)Section 144BSection 147Section 148Section 263

case of assessee was reopened by issuing notice u/s.148 of the Act and after recording reasons for reopening the assessment. During the course of reassessment proceedings, the AO issued notices u/s.142(1) of the Act on 03-09-2021, 24-11-2021, 08-12-2021 and 14-12-2021 asking ... only be invoked if the order of the AO is found to be erroneous and prejudicial to the interests of the Revenue. 6.1. During reassessment proceedings, the AO issued multiple notices under Section 142(1) of the Act to the assessee, who duly responded to each. Additionally, the National Faceless

Anish Rajnikant Shah, Ahmedabad, Gujarat vs. Income Tax Officer, Ahmedabad, Gujarat

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

ITA 200/AHD/2024[2011-12]Status: DisposedITAT Ahmedabad25 Jul 2024AY 2011-12

Bench: Shri Ramit Kochar (Accountant Member)

For Appellant: Shri Amit Raj, CAFor Respondent: Shri Sanjay Jain, Sr. D.R

Section 115BSection 139Section 142(1)Section 143(3)Section 147Section 148Section 250Section 44ASection 68

assessee , from time to time, I.T.A No. 200/Ahd/2024 A.Y. 2011-12 Page No. 4 Anish Rajnikant Shah v. ITO during the course of reassessment proceedings, which as per AO also remained un-complied with by the assessee. Hence, a show-cause notice (SCN) dated 30/10/2018 was issued

Soumendra Gupta, Sujapur, Malda vs. ITO, Ward - 3(1), Kolkata

In the result, appeal of the assessee is partly allowed

ITA 1022/KOL/2024[2014-2015]Status: DisposedITAT Kolkata25 Jul 2024AY 2014-2015

Bench: Dr. Manish Boradi.T.A. No.1022/Kol/2024 Assessment Year: 2014-15

Section 143(2)Section 147Section 148Section 250Section 69

income tax return but investment in the property is to the tune of Rs.40,16,261/-, the Ld. AO had rightly carried out the reassessment proceedings. Therefore, the reopening proceedings are valid. Assessee fails to succeed on this legal ground. 7. As far as the merits of the case

Manoj Kumar Motwani, Betul Mp vs. Assistant Commissioner, Income Tax Department NFAC

Appeal is allowed for statistical purpose

ITA 151/IND/2024[2013-14]Status: DisposedITAT Indore25 Jul 2024AY 2013-14

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year:2013-14 Manoj Kumar Motwani, Acit, Prop. Neelam Store, Nfac, Lally Chowk, Delhi बनाम/ Kothi Bazar, Vs. Betul (Assessee/Appellant) (Revenue/Respondent) Pan: Aaupm8830E Assessee By Shri Rakesh Khandelwal, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 16.07.2024 Date Of Pronouncement 25.07.2024

Section 139Section 142(1)Section 147Section 148Section 249(4)(b)Section 253(5)Section 69A

ACIT, NFAC, Delhi ITA No. 151/Ind/2024 – A.Y. 2013-14 the Act will not apply as there is no question of paying advance tax in reassessment proceedings, even though assessee did not file Rol. 6. In the said circumstances, we find that the impugned order dismissing the appeal on the ground ... deserves to be set-aside”. In the case in hand the assessee has filed return of income and thereafter, the Assessing Officer has initiated reassessment proceedings and passed reassessment order. Therefore, for filing the appeal before CIT(A) the question of payment of advance tax by the assessee

Modern Flats Private Limited, Mumbai vs. ITO 2(2)(3), Mumbai

In the result, the appeal is allowed for statistical purpose

ITA 688/MUM/2024[2013-14]Status: DisposedITAT Mumbai25 Jul 2024AY 2013-14

Bench: Shri Amit Shukla & Shri Ratnesh Nandan Sahay

For Appellant: A. "On the facts and circumstances of the case and in

Section 139(1)Section 143(2)Section 144Section 147Section 148Section 194ASection 250

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “SMC”, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI RATNESH NANDAN

Friends Telecom Pvt. Ltd., Delhi vs. ACIT, Central Circle-2, Delhi

In the result, the appeal of the assessee stands allowed for statistical purposes

ITA 1884/DEL/2024[2015-16]Status: DisposedITAT Delhi25 Jul 2024AY 2015-16

Bench: Shri Shamim Yahyafriends Telecom Pvt. Ltd., Vs. Acit, Pvt. Shop No.4, Ground Floor, Central Circle 2, Plot No.19, Veer Savarkar Block, Delhi. Shakarpur, East Delhi, Delhi – 110 092. (Pan : Aaccf0776H) (Appellant) (Respondent) Assessee By : Shri Pranav Yadav, Advocate Revenue By : Shri Om Prakash, Sr. Dr Date Of Hearing : 23.07.2024 Date Of Order : 25.07.2024 Order This Appeal By The Assessee Is Directed Against The Order Of The Ld. Cit (Appeals)-23, New Delhi Dated 29.09.2023 For The Assessment Year 2015-16. 2. Grounds Of Appeal Taken By The Assessee Read As Under :- “1 On The Facts & Circumstances Of The Case & In Law, The Notice U/S 148 Issued In This Case Is Bad-In- Law, Illegal, Without Jurisdiction & Barred By Limitation And, Therefore, The Said Notice U/S 148 Along With Assessment Order Passed On The Foundation Of Such Notice Are Liable To Be Quashed & Cit(A) Erred In Not Holding So. 2. On The Facts & Circumstances Of The Case & In Law, The Reassessment Proceedings Initiated Are Contrary To The Provisions Of Law Including The Specific Provisions Of Section 147 To Section 151 Of Income Tax Act, 1961 & Therefore, The Reassessment Proceeding Initiated Along With Assessment Order

For Appellant: Shri Pranav Yadav, AdvocateFor Respondent: Shri Om Prakash, Sr. DR

Section 147Section 148Section 151Section 68

quashed and CIT(A) erred in not holding so. 2. On the facts and circumstances of the case and in law, the reassessment proceedings initiated are contrary to the provisions of law including the specific provisions of section 147 to section 151 of Income Tax Act, 1961 and therefore ... reassessment proceeding initiated along with assessment order 2 passed are liable to be quashed and CIT(A) erred in not holding so. 3. On the facts and circumstances of the case and in law, the assessment order passed by Ld. Assessing Officer is bad-in-law and CIT(A) erred

Gracious Overseas Pvt. Ltd., Delhi vs. ACIT, Central Circle-2, Delhi

In the result, the appeal of the assessee stands allowed for statistical purposes

ITA 1883/DEL/2024[2015-16]Status: DisposedITAT Delhi25 Jul 2024AY 2015-16

Bench: Shri Shamim Yahyagracious Overseas Pvt. Ltd., Vs. Acit, Pvt. Shop No.4, Ground Floor, Central Circle 2, Plot No.19, Veer Savarkar Block, Delhi. Shakarpur, Delhi – 110 092. (Pan : Aaccd5744M) (Appellant) (Respondent) Assessee By : Shri Pranav Yadav, Advocate Revenue By : Shri Om Prakash, Sr. Dr Date Of Hearing : 23.07.2024 Date Of Order : 25.07.2024 Order This Appeal By The Assessee Is Directed Against The Order Of The Ld. Cit (Appeals)-23, New Delhi Dated 29.09.2023 For The Assessment Year 2015-16. 2. Grounds Of Appeal Taken By The Assessee Read As Under :- “1 On The Facts & Circumstances Of The Case & In Law, The Notice U/S 148 Issued In This Case Is Bad-In- Law, Illegal, Without Jurisdiction & Barred By Limitation And, Therefore, The Said Notice U/S 148 Along With Assessment Order Passed On The Foundation Of Such Notice Are Liable To Be Quashed & Cit(A) Erred In Not Holding So. 2. On The Facts & Circumstances Of The Case & In Law, The Reassessment Proceedings Initiated Are Contrary To The Provisions Of Law Including The Specific Provisions Of Section 147 To Section 151 Of Income Tax Act, 1961 & Therefore, The Reassessment Proceeding Initiated Along With Assessment Order

For Appellant: Shri Pranav Yadav, AdvocateFor Respondent: Shri Om Prakash, Sr. DR

Section 147Section 148Section 151Section 68