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“reason to believe”

ReassessmentSection 147Section 1474,202 judgments

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

Leading authorities on reason to believe

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.

CIT v. Durga Prasad More
82 ITR 540 · 1971 · Supreme Court
1,579
citing judgments

Tax authorities must judge evidence using the test of human probabilities and consider the apparent as real until there are reasons to believe it is not. They can rely on circumstantial evidence and the preponderance of probabilities to determine the genuineness of transactions.

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.

CIT v. Jet Airways (I) Ltd.
331 ITR 236 · 2011 · High Court
694
citing judgments

The Assessing Officer loses jurisdiction and the entire reassessment becomes invalid if no addition is made in respect of the income that formed the basis of the reopening. Explanation 3 to Section 147 does not permit assessing other escaped income unless an addition is made for the original income forming the reason to believe.

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.

CIT v. Kelvinator of India Ltd.
256 ITR 1 · 2002 · High Court
439
citing judgments

An Assessing Officer cannot reopen an assessment under Section 147 based on a mere change of opinion regarding the same material available during the original assessment. Reopening requires fresh, tangible material or information that leads to a reason to believe income has escaped assessment.

Judgments citing reason to believe

Assistant Commissioner of Income Tax, Circle 1(1), Raipur vs. M/S R.R. Industrial Corporation (India) Private Limited, Raipur

ITA 144/RPR/2018[2013-14]Status: DisposedITAT Raipur11 Jul 2023AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 144/Rpr/2018 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax-1(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. R.R. Industrial Corporation (India) Pvt. Ltd., Station Road, Telghani Naka, Raipur (C.G.) Pan : Aaecr4291B ……""यथ" / Respondent

For Appellant: Shri Amit M. Jain, AdvocateFor Respondent: Smt. Ila M. Parmar, CIT-DR
Section 143(2)Section 143(3)Section 250(4)Section 68

conducted by Kolkata Investigation. This information was called by the undersigned from Kolkata and is on record. Hence, I have reason to believe that these transaction are not genuine and creditworthy. Therefore the same are hereby added back u/s 68 of I.T. Act, 1961 which reads as follows:- "Where

DCIT, C-7, Jaipur vs. Bharat Mohan Raturi, Jaipur

In the result, the appeal of the Department is dismissed and that of the C

ITA 413/JPR/2022[2013-14]Status: DisposedITAT Jaipur11 Jul 2023AY 2013-14

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA No. 413/JP/2022 fu/kZkj.ko"kZ@AssessmentYear :2013-14 The DCIT Circle-7 Jaipur cuke Vs. Shri Bharat Mohan Raturi 161, Indira Colony, Bani Park Jaipur 302 015 (Raj) LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AANPR 7066G vihykFkhZ@Appellant izR;FkhZ@Respondent CO No. 2/JP/2023 (Arising out of vk;djvihy la-@ITA No. 413/JP/2022 ) fu/kZkj.ko"kZ@AssessmentYear :2013-14 Shri Bharat Mohan Raturi 161, Indira

For Appellant: Shri Anil Goya, CA &For Respondent: Mrs. Runi Pal, Addl. CIT-DR
Section 148Section 54Section 54F

with tax effect of Rs 26,25,015/- including interest u/s 234B of Rs 6,80,540/- Hence, I have reason to believe that this is a fit case to be reopened u/s 148 of the I.T. Act. On account of failure on the part of the assessee to disclose ... fully & truly all material facts necessary for his assessment. Hence, I have reason to believe that this is fit case to be reopened u/s 148 of the I.T. Act.’’ The assessee filed objections against reopening of the assessment vide letter dated 26/9/2017 (copy enclosed at Paper book page

Shri Avinash Nivrutti Bhosale, Pune vs. Dy CIT Central Cir-2(3), Mumbai

In the result, both the appeals filed by the assessee are allowed

ITA 531/MUM/2021[2010-11]Status: DisposedITAT Mumbai10 Jul 2023AY 2010-11

Bench: Shri Kuldip Singh & Shri Gagan Goyal & Shri Avinash Nivrutti Bhosale, 2, Abil House, Ganesh Khind Road, Range Hill Corner, Pune-411 007 ...... Appellant Vs. Dcit Cent. Cir 2(3) 8Th Floor, R. No. 803, Old Cgo Bldg, Pratistha Bhavan, M. K. Road, Mumbai-400 020 Pan – Abtpb8151F ..... Respondent

For Appellant: Shri Madhur Agarwal, Ld. ARFor Respondent: Smt. Shailja Rai, Ld. DR
Section 143(3)Section 153ASection 250

person from whose possession or control they have been taken into custody. This is when the authorities have reason to believe that such powers need to be exercised. Therefore, the fetters and which are to be found in other provisions are removed and a notice of assessment in such cases

Yogesh Goyal, Dhamtari vs. Principal Commissioner of Income Tax, Raipur-1, Raipur

In the result, appeal of the assessee is partly allowed in terms of our observations hereinabove,

ITA 57/RPR/2022[2012-13]Status: DisposedITAT Raipur10 Jul 2023AY 2012-13

Bench: SHRI RAVISH SOOD (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

For Appellant: Shri Praveen KhandelwalFor Respondent: Shri V.K.Singh, CIT-DR
Section 143(3)Section 147Section 148Section 263

position, the revisionary proceedings u/s.263 of the Act cannot be invoked on a different issue which was never a part of the initial reasons to believe. Ld. AR place reliance on the judgment of the Hon’ble Bombay High Court in the case of Jet Airways (I) Ltd., reported ... notice under section 148, he accepted the contention of the assessee and holds that the income which he has initially formed a reason to believe had escaped assessment, has as a matter of fact not escaped assessment, it is not open to him independently to assess some other income

Shri Harbans Singh Mann, Mansa vs. Income Tax Officer Ward-1 (4), Mansa

In the result, the ground no

ITA 129/ASR/2022[2010-10]Status: DisposedITAT Amritsar07 Jul 2023AY 2010-10

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.129/Asr/2022 Assessment Year: 2010-11

Section 147Section 148Section 151Section 250oSection 69A

Assessing Officer in issuing the notice u/s 148 and with regard to reopening of the case. 2. That there was no reason to believe as per the reasons recorded by the Assessing Officer, which is sine quo for the purpose of forming the reason to believe and, thus, the proceedings ... initiated u/s 148 deserves to be quashed. I.T.A. No.129/Asr/2022 3 Assessment Year: 2010-11 3. That the reason to believe as formed by the Assessing Officer are merely on the basis of cash deposits in the bank account, is not proper and it is securely covered as per the judgment

K R Packaging (P) Ltd, New Delhi vs. ACIT Circle-5(1), New Delhi

In the result the appeal of the assessee in ITA No

ITA 71/DEL/2021[2003-04]Status: DisposedITAT Delhi07 Jul 2023AY 2003-04

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri Om Prakash, Sr. DR
Section 143(2)Section 147Section 148Section 234BSection 68

investigation report, the creditworthiness of the lenders has not been established and these transactions seem to be non genuine. I therefore have reasons to believe that this amount of Rs. 18,00,000/- represents income of the assessee chargeable to tax which has escaped assessment ... case, even in the present case, the Court is unable to discern the link between the tangible material and the formation of the reasons to believe that income had escaped assessment. In the present case too, the information received from the Investigation Wing cannot be said to be tangible material

Shri Amarjeet Singh Bhatia, Raipur vs. Assistant Commissioner of Income Tax, Circle 3(1), Raipur

In the result, appeal of the assessee is allowed in terms of our observations hereinabove

ITA 63/RPR/2018[2007-08]Status: DisposedITAT Raipur07 Jul 2023AY 2007-08

Bench: SHRI RAVISH SOOD (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

For Appellant: Shri Sunil Kumar AgrawalFor Respondent: Shri Piyush Tripathi, Sr. DR
Section 119Section 143(2)Section 143(3)Section 147Section 148Section 151

been reflected in the balance sheet of the assessee filed for 31.03.2007. Being satisfied with he aforesaid observation, the AO has formed the reason to believe that Rs.21,49,054/- has escaped from assessment. In this case, the order u/s.143(3) of the Act was also passed ... assesse and have not objected the jurisdiction on territorial and pecuniary ground. * Based on above material facts, the DCIT (l)(l),Raipur has reason to believe of escaped income and the case was reopened by the same AO. * The DCIT obtained approval under section

Mr. Anthony P Lewis, Mumbai vs. ITO-22(1)(1), Mumbai

ITA 1813/MUM/2020[2009-10]Status: DisposedITAT Mumbai06 Jul 2023AY 2009-10
For Appellant: Ms. Aarti Sathe &For Respondent: Smt Sailja Rai
Section 143(3)Section 147Section 54

upholding the order of the AO. in as much as, the AO failed to appreciate that mere change in opinion does not constitute "reason to believe". It is well settled that a mere change in opinion does not constitute "reason to believe" that income has escaped assessment. It has been ... intimation has been issued, post filing the ROI as in the facts of the present case, yet the condition of „reason to believe‟ is a sine qua non for reopening an assessment which has not been fulfilled in the facts of the present case.” By way of the above Additional

Kala Ramesh Parmar, Mumbai vs. ITO Ward- 23(2)(6), Mumbai

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

ITA 581/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 Jul 2023AY 2012-13

Bench: Shri Pavan Kumar Gadalekala Ramesh Parmar Ito Ward – 23(2)(6), 2/21,Kishorebuilding, Room No.303, बनाम/ Opp Edward Cinema, 3Rd Floor, Vs. 2Nd Floor, 521, Earnest House, Kalbadevi Road, Nariman Point, Mumbai- 400002. Mumbai- 400021. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadpp6229M (""थ" / Respondent) (अपीलाथ" /Appellant)

For Appellant: Shri.Jitendra Singh.ARFor Respondent: Shri.Abhishek Kumar Singh, DR
Section 143(1)Section 143(3)Section 148Section 234BSection 250Section 68

term capital gains claimed as exempt or short term capital loss and the assessee is one of the beneficiary. Therefore the AO has reason to believe that the income has escaped assessment and has issued notice u/s 148 of the Act. In response to notice, the assessee has filed ... provisions of Sec. 147 of the Act and the first proviso which is read as under: “147. If the[Assessing] Officer[has reason to believe] that any income chargeable to tax has escaped assessment91for any assessment year, he may, subject to the provisions of sections 148 to 153, assess

Tata Aig Life Insurance Company Ltd, Mumbai vs. CIT 2, Mumbai

In the result, the appeals of the assessee are allowed

ITA 3557/MUM/2012[2004-05]Status: DisposedITAT Mumbai30 Jun 2023AY 2004-05

Bench: Shri Kuldip Singh () & Ms. Padmavathy S. ()

Section 143(3)Section 147Section 148Section 2Section 263Section 44

Rs.42,88,54,156/- as reported in the report of income filed on 28.11.2003. The Assessing Officer was, therefore, satisfied and had reason to believe that excessive claim of loss of Rs.42,88,54,156/- was allowed to the assessee and on income of Rs.2,54,50,000/- being surplus

Tata Aig Life Insurance Company Ltd, Mumbai vs. CIT 2, Mumbai

In the result, the appeals of the assessee are allowed

ITA 3556/MUM/2012[2003-04]Status: DisposedITAT Mumbai30 Jun 2023AY 2003-04

Bench: Shri Kuldip Singh () & Ms. Padmavathy S. ()

Section 143(3)Section 147Section 148Section 2Section 263Section 44

Rs.42,88,54,156/- as reported in the report of income filed on 28.11.2003. The Assessing Officer was, therefore, satisfied and had reason to believe that excessive claim of loss of Rs.42,88,54,156/- was allowed to the assessee and on income of Rs.2,54,50,000/- being surplus

Agasthya Auto Products LLP, New Delhi vs. ITO Ward - 38(1), New Delhi

In the result, appeal of the assessee is partly allowed

ITA 1947/DEL/2020[2011-12]Status: DisposedITAT Delhi30 Jun 2023AY 2011-12

Bench: Shri C.M. Gargagasthya Auto Products Llp, Vs. Ito, 15, Godavari Apartments, Ward-38(1), Alaknanda, New Delhi-110019 New Delhi (Appellant) (Respondent) Pan: Abbfa9335N

For Appellant: Ms. Rano Jain, AdcFor Respondent: Shri Sumesh Swani, Sr. DR
Section 147Section 148Section 151Section 68

basis of the reasons which are vague and against the facts of the case and the AO initiated proceedings without having valid reason to believe that income has escaped assessment for relevant assessment year. Further placing reliance on various orders and judgments including Agasthya Auto Products LLP order of ITAT ... absence of independent application of mind to the material received by the AO from the Investigation Wing. The AO could not have valid reasons to believe that income has escaped assessment only on the basis of report of Investigation Wing. Therefore, initiation of reassessment proceedings and reassessment order may kindly

Puri Oil Mills Ltd, New Delhi vs. ACIT, Circle-20(1), New Delhi

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

ITA 7726/DEL/2019[2013-14]Status: DisposedITAT Delhi30 Jun 2023AY 2013-14

Bench: Dr. B. R. R. Kumar & Sh. Yogesh Kumar U.S.

Section 143(3)Section 2(24)Section 44A

submitted that the reopening is in accordance with the provisions of the Act which cannot be found fault with. There was sufficient reason to believe that income had escapement assessment and proceedings were initiated after recording reasons and submitted that the reassessment is valid if there is a prima facie ... reason to believe that income had escaped assessment. It is the case of the Department that after the amendment of Section 147 w.e.f. 01/04/1989 the scope of Section 147 of the Act has been considerably widened the only requirement under the amended Section is that A.O. must have reason

Puri Oil Mills Ltd., New Delhi vs. ACIT, Circle- 20(1), New Delhi

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

ITA 6971/DEL/2018[2012-13]Status: DisposedITAT Delhi30 Jun 2023AY 2012-13

Bench: Dr. B. R. R. Kumar & Sh. Yogesh Kumar U.S.

Section 143(3)Section 2(24)Section 44A

submitted that the reopening is in accordance with the provisions of the Act which cannot be found fault with. There was sufficient reason to believe that income had escapement assessment and proceedings were initiated after recording reasons and submitted that the reassessment is valid if there is a prima facie ... reason to believe that income had escaped assessment. It is the case of the Department that after the amendment of Section 147 w.e.f. 01/04/1989 the scope of Section 147 of the Act has been considerably widened the only requirement under the amended Section is that A.O. must have reason

Shri Rama Mepa Odedara, Porbandar vs. The Income Tax Officer, Ward-2(4), Porbandar

In the result, Ground No. 2 of the assessee’s appeal is partly allowed

ITA 67/RJT/2019[2010-11]Status: HeardITAT Rajkot30 Jun 2023AY 2010-11

Bench: Us, The Counsel For The Assessee Submitted An Application For Condonation Of Delay & Argued That The Reason For Delay In Filing Appeal Before Itat Was That The Assessee Was Suffering From Spinal Injury & Was Advised Complete Bed Rest By The Doctors. In Support Of The Above Contention, The Assessee Also Filed Medical Certificate With Respect To The Injury Suffered

For Appellant: Shri Sagar Shah, A.RFor Respondent: Shri B.D. Gupta, Sr. D.R
Section 147Section 148Section 250Section 271Section 69A

having found prima- facie material, impugned notice had been issued to assessee. The Gujarat High Court held that where Assessing Officer had reason to believe that income chargeable to tax had escaped assessment and basis for formation of such belief were several inquiries and investigation by Investigation Wing that there ... facie belief is required for re-opening of assessment. The High Court made the following observations in this regard: 5.2 Further, the term "reason to believe", however, is not defined in the Act but it can be gathered and available from the information, leading the Assessing Officer to reopen

Jt. CIT (Ods) - CC -1(4), Mumbai vs. Ultratech Cement Ltd., Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 222/MUM/2022[2014-15]Status: DisposedITAT Mumbai28 Jun 2023AY 2014-15

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

documentary material which has been filed by the assessee with AO. Therefore, in view of the above stated facts, I have reasons to believe that income to the tune of Rs. 42,03,02,962/- has escaped assessment within the meaning of the provisions of section ... stated that section 147 of the IT Act, empowers the Assessing Officer to assess or reassess income chargeable to tax if he has reason to believe that income for any assessment year has escaped assessment. It is pertinent to mention here that, Section 147 of the Act, does not require

Ultra Tech Cement Limited, Mumbai vs. ACIT- CC 1(4), Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 220/MUM/2022[2014-15]Status: DisposedITAT Mumbai28 Jun 2023AY 2014-15

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

documentary material which has been filed by the assessee with AO. Therefore, in view of the above stated facts, I have reasons to believe that income to the tune of Rs. 42,03,02,962/- has escaped assessment within the meaning of the provisions of section ... stated that section 147 of the IT Act, empowers the Assessing Officer to assess or reassess income chargeable to tax if he has reason to believe that income for any assessment year has escaped assessment. It is pertinent to mention here that, Section 147 of the Act, does not require

DCIT Cir 1(4), Mumbai vs. M/S. Ultratech Cement Ltd, Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 1789/MUM/2021[2013-14]Status: DisposedITAT Mumbai28 Jun 2023AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

documentary material which has been filed by the assessee with AO. Therefore, in view of the above stated facts, I have reasons to believe that income to the tune of Rs. 42,03,02,962/- has escaped assessment within the meaning of the provisions of section ... stated that section 147 of the IT Act, empowers the Assessing Officer to assess or reassess income chargeable to tax if he has reason to believe that income for any assessment year has escaped assessment. It is pertinent to mention here that, Section 147 of the Act, does not require

M/S. Ultratech Cement Ltd, Mumbai vs. DCIT Cent Cir-1(4), Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 1466/MUM/2021[2013-14]Status: DisposedITAT Mumbai28 Jun 2023AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

documentary material which has been filed by the assessee with AO. Therefore, in view of the above stated facts, I have reasons to believe that income to the tune of Rs. 42,03,02,962/- has escaped assessment within the meaning of the provisions of section ... stated that section 147 of the IT Act, empowers the Assessing Officer to assess or reassess income chargeable to tax if he has reason to believe that income for any assessment year has escaped assessment. It is pertinent to mention here that, Section 147 of the Act, does not require

Aj Energy Private Limited, Delhi vs. ITO, Ward-1(1), Delhi

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

ITA 1190/DEL/2022[2011-12]Status: DisposedITAT Delhi28 Jun 2023AY 2011-12

Bench: Shri Kul Bharat & Shri M. Balaganesh

For Appellant: Shri Ved Jain, AdvFor Respondent: Shri Manvendra Goel, CIT(DR)
Section 142(3)Section 143(3)Section 147Section 68Section 69C

while recording the reasons Thus, AO did not make any addition in respect of the income which he has initially formed reason to believe had escaped assessment and accepted the contention of the assessee. Page 5 of 14 ITA No.- 1190/Del/2022 M/s. AJ Energy Pvt.Ltd. 7. In this regard ... notice under Section 148, he accepted the contention of the assessee and holds that the income which he has initially formed a reason to believe had escaped assessment, has as a matter of fact not escaped assessment, it is not open to him independently to assess some other income