“reason to believe”

Arvind Hanjarimal Jain, Mumbai vs. Asst CIT 31 (2), Mumbai

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

words, the only condition that is to be satisfied in such cases is that the AG, for whatever reason, should have had a reason to believe that income had escaped assessment. However, where initial proceeding was completed u/s 143(3) of the Act and action u/s 147 /148 ... case of Asst. CIT vs. Rajesh Jhaveri Stock Brokers (P) Ltd. (Supra) has also held that "The word "reason" in the phrase "reason to believe' would mean cause or, justification. If the AC has cause or, justification to know or suppose that income had escaped assessment, it can be said

Kumaon Engineering Co. Pvt. Ltd, Thane vs. ITO Ward 10(1)(4), Mumbai

In the result, appeal of the assessee stands dismissed

Bench: Shri Shamim Yahya, Am & Shri Amarjit Singh, Jm

Shri Jagdish Prasad Purohit shown receipt of security premium amount of Rs.36,41,68,000/-in 5.2 In view of above, I have reason to believe that the income to Rs.36,41,68,000/- has escaped the assessment within the meaning of section I. T. Act, 1961. Hence

M/S. Concise Exim Ltd., Mumbai vs. Pr, . CIT, Thane-1, Thane

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2011-12 M/S Concise Exim Ltd., Pr. Cit, Thane-1, Room No. 16, Jogeshwari (E), Vs. Maharashtra-401 101. Mumbai-401 101. Pan No. Aadcc 5668 A Appellant Respondent

premium of ₹190 per share to the shareholders/subscribers which were not found to be operating from their given addresses. The Assessing Officer recorded reason to believe that income escaped assessment and thereafter issued notice under section 148 of the Act on 28/03/2018. In response, the assessee filed return of income

Sanjay Hirachand Chokad, Mumbai vs. ITO Ward 32(3)(3), Mumbai

In the result, the appeal of the assessee is dismissed

original assessment and purchases from said party was not considered in the reassessment order. After recording satisfaction and demonstrating that there existed reason to believe the A.O had issued notice u/s 148 of the Act. On perusal of the above it is clear that there was prima facie some material

Dy CIT-CC-6(3), Mumbai vs. M/S. Marathon Nextgen Realty Ltd, Mumbai

Bench: Vikas Awasthy & Shri Prashant Maharishiआअसं. 797/मुं/2021 ("न. व. 2012-13 ) आअसं. 798/मुं/2021 ("न. व. 2011-12 ) आअसं. 799/मुं/2021 ("न. व. 2010-11) Dy. Commissioner Of Income Tax, Central Circle – 6(3), Room No.1926, 19Th Floor, Air India Building, Nariman Point, Mumbai 400 021 ..... अपीलाथ" /Appellant बनाम Vs. M/S. Marathon Nextgen Realty Limited, Marathon Futurex Mafatlal Mill Compound, N.M.Joshi Marg, Lower Parel, Mumbai 400 013. Pan: Aaacp-8032-E ..... ""तवाद"/Respondent अपीलाथ" "वारा/ Appellant By : Shri J.P. Bairagra With Ms. Rupa Nanda ""तवाद" "वारा/Respondent By : Shri C.T. Mathews सुनवाई क" "त"थ/ Date Of Hearing : 23/02/2022 घोषणा क" "त"थ/ Date Of Pronouncement : 25/03/2022 आदेश/ Order Per Vikas Awasthy, Jm: These Three Appeals By The Revenue Are Directed Against The Orders Of Commissioner Of Income Tax(Appeals)-54, Mumbai [In Short ‘ The Cit(A)’], For The 2

assessee had claimed incorrect deduction u/s. 80IB of the Act during the relevant period. The Assessing Officer had reasons to believe that income chargeable to tax has escaped assessment within the meaning of section 147 of the Act. Therefore, notice u/s. 148 of the Act was issued after obtaining ... reasons and not borrowed reasons which should form basis of reopening the assessment. Therefore, in the absence of Assessing Officer’s own reason to believe that the income chargeable to tax has escaped assessment, the reassessment proceedings are bad in law. 8.1 The Hon'ble Bombay High Court in PCIT

Dy CIT, CC-6(3), Mumbai vs. M/S. Marathon Nextgen Realty Ltd, Mumbai

Bench: Vikas Awasthy & Shri Prashant Maharishiआअसं. 797/मुं/2021 ("न. व. 2012-13 ) आअसं. 798/मुं/2021 ("न. व. 2011-12 ) आअसं. 799/मुं/2021 ("न. व. 2010-11) Dy. Commissioner Of Income Tax, Central Circle – 6(3), Room No.1926, 19Th Floor, Air India Building, Nariman Point, Mumbai 400 021 ..... अपीलाथ" /Appellant बनाम Vs. M/S. Marathon Nextgen Realty Limited, Marathon Futurex Mafatlal Mill Compound, N.M.Joshi Marg, Lower Parel, Mumbai 400 013. Pan: Aaacp-8032-E ..... ""तवाद"/Respondent अपीलाथ" "वारा/ Appellant By : Shri J.P. Bairagra With Ms. Rupa Nanda ""तवाद" "वारा/Respondent By : Shri C.T. Mathews सुनवाई क" "त"थ/ Date Of Hearing : 23/02/2022 घोषणा क" "त"थ/ Date Of Pronouncement : 25/03/2022 आदेश/ Order Per Vikas Awasthy, Jm: These Three Appeals By The Revenue Are Directed Against The Orders Of Commissioner Of Income Tax(Appeals)-54, Mumbai [In Short ‘ The Cit(A)’], For The 2

assessee had claimed incorrect deduction u/s. 80IB of the Act during the relevant period. The Assessing Officer had reasons to believe that income chargeable to tax has escaped assessment within the meaning of section 147 of the Act. Therefore, notice u/s. 148 of the Act was issued after obtaining ... reasons and not borrowed reasons which should form basis of reopening the assessment. Therefore, in the absence of Assessing Officer’s own reason to believe that the income chargeable to tax has escaped assessment, the reassessment proceedings are bad in law. 8.1 The Hon'ble Bombay High Court in PCIT

M/S. Satyam Realtors P. Ltd., Mumbai vs. Dy CIT CC-5(4)Dy CIT CC-5(4), Mumbai

In the result, appeal by the assessee stands partly allowed

Bench: Shri Shamim Yahya

requirements have been met by the assessing officer. It is trite law that for reopening the assessment the A.O has to merely form reason to believe that income has escaped assessment. The reassessment proceedings allows the appellant to rebut the reasons for reopening of the assessment. The only question ... finally adjudicated at the stage of reopening. Reopening was held to be valid. Distinction between validity of an addition and validity of reasons to believe was explained in the case of Pr CIT v Laxmiraj Distributors P. Ltd. (2019) 302 CTR (Guj) 676. The action u/s.147 is possible despite complete

Shri Rohinton Cyrus Malesra, Mumbai vs. The ITO -19(3) (1), Mumbai

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

Bench: Shri Prashant Maharishi & Shri Pavan Kumar Gadaleshri Rohinton Cyrus Vs. Ito – 19(3)(1) Malesra Matru Mandir, A-201, Simla House, Tardeo Opp L.D.Ruparel Marg Mumbai – 400007 Nepean Sea Road, Mumbai – 400026. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aagpm5502K Appellant .. Respondent Appellant By : Shri Anil Gala.Ar Respondent By : Shri Pavan Kumar Beerla.Dr Date Of Hearing 21.03.2022 Date Of Pronouncement 24.03.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Assessee Has Filed The Appeal Against The Order Of The Commissioner Of Income Tax (Appeals)-30, Mumbai Passed U/S 147 R.W.S 143(3) & 250 Of The Income Tax Act, 1961. The Assessee Has Raised The Following Grounds Of Appeal.

parties namely Newspark Trading Co. Pvt Ltd of Rs. 2,19,082 and Nakoda Marples of Rs. 41,367/-.Hence the A.O. has reason to believe that there is a income escapement assessment and issued notice u/s 148 of the Act. Subsequently, notice

Mukesh Manuprasad Trivedi, Mumbai vs. DCIT CC 2, Thane

In the result, the appeal filed by the assessee for A

Bench: Shri Pavan Kumar Gadale & Shri S Rifaur Rahmanita No 225/Mum/2020 (A.Ys: 2009-10)

case of the appellant, the claim of purchases are from those very parties which are enlisted above; there is sufficient reason to believe that these constitute sufficient incriminating material against the appellant for the A.Y. 2008-09. These evidences have been corroborated by the verifications carried

Final Copy (I) Pvt Ltd, Mumbai vs. ITO Ward 6(3)(1), Mumbai

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

Bench: Shri Prashant Maharishi & Shri Pavan Kumar Gadalefinal Copy (I) Pvt Ltd Vs. Ito, Ward-6(3)(1) C/18, First Floor Royal Room No. 524, 5Th Industrial Estate, Sb Floor, Aayakar Naigaon Cross Road, Bhavan, Mk Marg, Wadala, Mumbai – Mumbai – 400020. 400031. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacf7458 Appellant .. Respondent Appellant By : Mr.Gunjan Kakkad.Ar Respondent By : Mr.Rajesh Kumar Yadav.Dr Date Of Hearing 22.03.2022 Date Of Pronouncement 25.03.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Assessee Has Filed The Appeal Against The Order Of The Commissioner Of Income Tax (Appeals)-12, Mumbai Passed 144 & 250 Of The Act. The Assessee Has Raised The Following Grounds Of Appeal:

DGIT(Inv), Mumbai that the assessee has obtained bogus purchase bills from M/s Deepali Enterprises and is a beneficiary. Therefore the A.O. has reason to believe that the income has escaped assessment and notice u/s 148 of the Act was issued and none appeared on behalf of the assessee. Further

The United Western Bank Ltd. (Through Successors Idbi Bank Ltd.), Mumbai vs. DCIT, Satara

In the result, all the three appeals filed by the assessee are disposed of as above

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

levy of tax of Rs. 1,69,67,000/- including interest U/s. 234-B. In view of the aforesaid, discussion, I have reason to believe that Income to this extent chargeable to tax has escaped assessment within the meaning of provision of action

The United Western Bank Ltd., Mumbai vs. Deputy Commissioner of Income-Tax, Jalgaon

In the result, all the three appeals filed by the assessee are disposed of as above

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

levy of tax of Rs. 1,69,67,000/- including interest U/s. 234-B. In view of the aforesaid, discussion, I have reason to believe that Income to this extent chargeable to tax has escaped assessment within the meaning of provision of action

The United Western Bank Ltd., Satara vs. Additional Commissioner of Income-Tax, Satara

In the result, all the three appeals filed by the assessee are disposed of as above

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

levy of tax of Rs. 1,69,67,000/- including interest U/s. 234-B. In view of the aforesaid, discussion, I have reason to believe that Income to this extent chargeable to tax has escaped assessment within the meaning of provision of action

Tech Mahindra Ltd., Mumbai vs. ACIT, Circle - 2(3)(1), Mumbai

In the result, appeal by the assessee is allowed

Bench: Shri Vikas Awasthy & Shri Prashant Maharishiआअसं. 6573/मुं/2019 ("न. व. 2012-13 ) Tech Mahindra Limited, Gateway Building, Apollo Bunder, Mumbai – 400 001 Pan: Aaacm-3484-F ...... अपीलाथ" /Appellant बनाम Vs. Acit, Cir. 2(3)(1), Aaykar Bhavan, M.K.Road, Mumbai 400 020 ..... ""तवाद"/Respondent अपीलाथ" "वारा/ Appellant By : Shri J.D.Mistri, Sr. Advocate ""तवाद" "वारा/Respondent By : Shri Rajesh Damor सुनवाई क" "त"थ/ Date Of Hearing : 20/12/2021 घोषणा क" "त"थ/ Date Of Pronouncement : 17/03/2022 आदेश/ Order Per Vikas Awasthy, Jm: 6573/Mum/2019 This Appeal By The Assessee Is Directed Against The Order Of Commissioner Of Income Tax(Appeals)-6, Mumbai [In Short 'The Cit(A)’] Dated 04/09/2019 For The Assessment Year 2012-13. 2. Shri J.D.Mistri, Sr.Advocate Appearing On Behalf Of The Assessee Submitted At The Outset That The Assessee Has Raised Additional Grounds Of 2 Appeal Assailing Jurisdiction Assumed By The Assessing Officer U/S. 147 Of The Income Tax Act,1961 ( In Short 'The Act') & Validity Of The Order Passed U/S. 143(3) R.W.S. 147 Of The Act. At This Stage He Would Be Confirning His Submissions On The Additional Grounds Raised.

Federal in Mexico. Assessee has not disclosed the income of Rs. 8815483.20 in the return of income filed in India. Hence, I have reason to believe that income of Rs.8815483.20 chargeable to tax has escaped assessment by reason of the failure on part of assessee to disclose fully and truly