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“escapement of income”

ReassessmentSection 147Section 1473,765 judgments

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

Leading authorities on escapement of income

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.

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.

CIT v. Sun Engineering Works (P) Ltd.
198 ITR 297 · 1992 · Supreme Court
814
citing judgments

A court's pronouncement derives its scope and color from the specific questions involved in the case, thus, due regard must always be given to the questions framed before the court when interpreting its judgment.

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.

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.

Judgments citing escapement of income

Phoenix Infocity Private Limited, Hyderabad vs. DCIT, Central Circle-2(3), Hyderabad

In the result, appeal of the assessee is allowed

ITA 239/HYD/2023[2018-19]Status: DisposedITAT Hyderabad12 Jul 2024AY 2018-19

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं / Ita No. 239/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2018-19) M/S. Phoenix Infocity (P) Dy. Commissioner Of Ltd, Hyderabad Vs. Income Tax, [Pan : Aaeca3063C] Central Circle-2(3), Hyderabad अपीलाथ" / Appellant "" यथ" / Respondent

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri Kumar Pranav, CIT(DR)

reconcilia"on statement was submi"ed before the PCIT, but the PCIT did not look into the aspect by himself to determine the escapement of income with reference to such material, but directed the learned Assessing Officer to undertake such an exercise a"er giving an opportunity to the assessee

Assistant Commissioner of Income Tax, Circle-3(4), Mumbai vs. Union Bank of India, Mumbai

ITA 1959/MUM/2024[2016-17]Status: DisposedITAT Mumbai11 Jul 2024AY 2016-17

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

For Respondent: Mr. Ankush Kapoor, CIT-DR
Section 115JSection 143(3)Section 144BSection 148

case i.e., change in the method of accounting followed by the assessee. In the instant case, the assessment order is reopened based on escapement of income noticed after completion of the assessment u/s. 143(3) of the Act. The Assessing Officer has identified that the appellant has not disclosed Foreign ... clarified by CBDT circular No. 10 /2017, interest income needs to be offered on accrual basis as per ICDS which has resulted in escapement of income chargeable to tax to the tune of Rs.314.7209 crores." 9.2 Apparently, according to the Ld. CIT(A), the issue was not considered while completing

M/S Union Bank of India, Mumbai vs. Deputy Commissioner of Income Tax, Circle- Ltu 2, Mumbai

ITA 1677/MUM/2024[2016-17]Status: DisposedITAT Mumbai11 Jul 2024AY 2016-17

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

Section 115JSection 143(3)Section 144BSection 148

case i.e., change in the method of accounting followed by the assessee. In the instant case, the assessment order is reopened based on escapement of income noticed after completion of the assessment u/s. 143(3) of the Act. The Assessing Officer has identified that the appellant has not disclosed Foreign ... clarified by CBDT circular No. 10 /2017, interest income needs to be offered on accrual basis as per ICDS which has resulted in escapement of income chargeable to tax to the tune of Rs.314.7209 crores.” 9.2 Apparently, according to the Ld. CIT(A), the issue was not considered while completing

M/S Union Bank of India, Mumbai vs. Deputy Commissioner of India, Circle-(Ltu)-2, Mumbai

In the result, the appeal of the a In the result, the appeal of the assessee for assessment year ssessee for assessment year

ITA 1676/MUM/2024[2017-18]Status: DisposedITAT Mumbai11 Jul 2024AY 2017-18

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

For Respondent: Mr. C Naresh
Section 144B

reopened based on escapement of case, the assessment order is reopened based on escapement of case, the assessment order is reopened based on escapement of income noticed after completion of the assessment u/s. 143(3) of the income noticed after completion of the assessment u/s. 143(3) of the income ... offered on CBDT circular No. 10 /2017, interest income needs to be offered on accrual basis as per ICDS which has resulted in escapement of income accrual basis as per ICDS which has resulted in escapement of income accrual basis as per ICDS which has resulted in escapement of income

Income-Tax Officer, Mumbai vs. Ankit Umakant Agarwal, Mumbai

In the result, the appeal of the revenue bearing ITA No

ITA 4462/MUM/2023[2011-12]Status: DisposedITAT Mumbai11 Jul 2024AY 2011-12

Bench: Shri Prashant Maharshi & Shri Anikesh Banerjee

Section 143(3)Section 148Section 250Section 69

assessee is reflecting for payment of cash. The Ld.AR further placed thatthe ld. AOhad recorded reasons for reopening on 23.12.2016 regarding escapement of income of Rs.3,00,00,000/- in project levels. The date of allotment of respective flat has been regarded as the date of receipt

Schneider Electric Systems India Pvt. Ltd., Chennai vs. PCIT 3, Chennai

The appeal stand partly allowed

ITA 1568/CHNY/2024[2015-16]Status: DisposedITAT Chennai10 Jul 2024AY 2015-16

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.1568/Chny/2024 (िनधा)रण वष) / Assessment Year: 2015-16) & +े यािचका सं../ S.A No.28/Chny/2024 (Arising Out Of Ita No.1568/Chny/2024) (िनधा)रण वष) / Assessment Year: 2015-16) M/S. Schneider Electric Systems India P. Ltd. Pcit Sp Plot No.16-19 & 20A, Chennai-3. बनाम/ Taramani Tech Park Inner Ring Road, Thiru Vi Ka Industrial Estate, Vs. Guindy Industrial Estate S.O. Guindy, Chennai-600 032. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aabcs-8027-M (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri Rohit Tiwari (Advocate) (Virtual) - Ld.Ar " थ"कीओरसे/Respondent By : Shri Nilay Baran Som (Cit) -Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 01-07-2024 घोषणाकीतारीख /Date Of Pronouncement : 10-07-2024 आदेश / O R D E R Manoj Kumar Aggarwal ()

For Appellant: Shri Rohit Tiwari (Advocate) (Virtual) - Ld.ARFor Respondent: Shri Nilay Baran Som (CIT) -Ld. DR
Section 143(3)Section 147Section 263Section 37Section 40A(9)

From the record, it emerges that the assessee was assessed u/s 143(3) on 27-02-2019. However, upon formation of belief of escapement of income, the case was reopened and another assessment was framed u/s 147 r.w.s. 144B of the Act on 21-03-2022. One of the reason

Nikki Pachisia, Jaipur vs. Income Tax Officer, Ward-5(2), Jaipur

In the result, the appeal of the assessee is allowed

ITA 615/JPR/2024[2011-12]Status: DisposedITAT Jaipur10 Jul 2024AY 2011-12

Bench: SHRI SANDEEP GOSAIN (Judicial Member)

For Appellant: Shri S.R. Sharma CA, &For Respondent: Mrs. Monisha Choudhary, Addl. CIT-DR
Section 143Section 143(3)Section 147Section 148Section 68Section 69C

same has been issued on the basis of vague, incorrect, incomplete reasons and without any tangible basis of escapement of income. In this regard the mistake in the reasons recorded have been summarized which are mentioned here in below:- ‘’(i) Sr. No. 11 of Form for recording reasons ... whereas, the returned income was Nil. (ii) Sr. No. 11 (6) of Form- basis of information reason to be believe and detail of escapement of income. In this coloum, the learned AO has mentioned the amount of escaped income at Rs. 2,23,200/- (Rs. Two Lacs, Twenty Three Thousand

M/S. Steer America Inc., United States vs. The Deputy Commissioner of Income Tax, International Taxation Circle -1(2), Bengaluru

In the result, both the appeals of the assessee are partly allowed

ITA 833/BANG/2024[2014-15]Status: DisposedITAT Bangalore10 Jul 2024AY 2014-15

Bench: Shri Chandra Poojari & Shri Prakash Chand Yadav

For Appellant: Sri Vasanth Kumar, A.RFor Respondent: Ms. Anjala Sahu, D.R
Section 144CSection 147Section 148

filed ITR in India, there was an IT(IT)A Nos.832 & 833/Bang/2024 Steer America Inc., Bangalore Page 13 of 37 escapement of income to the tune of Rs.15,09,59,210/- & Rs.19,70,24,738/- for the assessment years 2013-14 & 2014-15 respectively. 9.2 The case of department

M/S. Steer America Inc., United States vs. The Deputy Commissioner of Income Tax, International Taxation Circle -1(2), Bengaluru

In the result, both the appeals of the assessee are partly allowed

ITA 832/BANG/2024[2013-14]Status: DisposedITAT Bangalore10 Jul 2024AY 2013-14

Bench: Shri Chandra Poojari & Shri Prakash Chand Yadav

For Appellant: Sri Vasanth Kumar, A.RFor Respondent: Ms. Anjala Sahu, D.R
Section 144CSection 147Section 148

filed ITR in India, there was an IT(IT)A Nos.832 & 833/Bang/2024 Steer America Inc., Bangalore Page 13 of 37 escapement of income to the tune of Rs.15,09,59,210/- & Rs.19,70,24,738/- for the assessment years 2013-14 & 2014-15 respectively. 9.2 The case of department

Alcoa Trading Pvt Ltd, Mumbai vs. Pr. Commissioner of Income Tax-2, Mumbai

In the result, appeal of the assessee is allowed

ITA 1225/MUM/2024[2014-15]Status: DisposedITAT Mumbai09 Jul 2024AY 2014-15

Bench: Shri Amarjit Singh & Shri Rahul Chaudharyassessment Year: 2014-15 Alcoa Trading Pvt. Ltd. Ito, Ward-2(1)(1), Mumbai Monaji Building, 3Rd Floor, Room No. 54, Champa Gali, Vs. M.J. Market, Kalbadevi Road, Mumbai-400002. Pan: Aaica 3535 D (Appellant) (Respondent) Present For: Assessee By : Shri Prakash Jhunjhunwala Revenue By : Shri Ajay Chandra, Cit/Dr

For Appellant: Shri Prakash JhunjhunwalaFor Respondent: Shri Ajay Chandra, CIT/DR
Section 147Section 148Section 263

assessee submitted vide letter dated 06.12.2023 that on the similar basis the case of the assessee was reopened and reason for escapement of income could not be established as the same order cannot be subject matter of 263 proceedings. The ld. PCIT passed order

Cozy Footwear (P) Ltd, Delhi vs. Income Tax Officer Ward-6(3), Delhi

In the result, appeal is allowed, as indicated above

ITA 833/DEL/2024[2012-13]Status: DisposedITAT Delhi09 Jul 2024AY 2012-13

Bench: Shri Saktijit Dey, Vice- & Shri M. Balaganeshassessment Year: 2012-13

Section 143(3)Section 147Section 148Section 68

relevant assessment year. 12. In the facts of the present appeal, there is absolutely no allegation by the Assessing Officer that escapement of income is due to failure on the part of the assessee to disclose truly and 6 | P a g e AY: 2012-13 correctly all material facts

Fixed & Mobile Pte. Ltd., Singapore vs. ACIT, Circle-1(3)(1) Int. Taxation, New Delhi

The appeals are allowed

ITA 767/DEL/2023[2016-17]Status: DisposedITAT Delhi09 Jul 2024AY 2016-17

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaassessment Year: 2016-17 Assessment Year : 2017-18 Fixed & Mobile Pte Ltd., Vs Acit, 1 Raffles Place, International Taxation, #28-01 One Raffles Place, Tower-2, Circle 1(3)(1), Singapore, Singapore 9999. New Delhi. Pan: Aabcf4910G (Appellant) (Respondent) Assessee By : Shri Alok Vasant, Fca & Ms Poonam Ahuja, Advocate Revenue By : Shri Vizay B. Vasanta, Cit-Dr Date Of Hearing : 25.04.2024 Date Of Pronouncement : 09.07.2024 Order Per Anubhav Sharma, Jm:

For Appellant: Shri Alok Vasant, FCA &For Respondent: Shri Vizay B. Vasanta, CIT-DR
Section 142(1)Section 143(2)Section 147Section 148

mandatory. Section 147 of the Act merely empowers the assumption of jurisdiction for assessment or re-assessment in case of escapement of income, to the knowledge of AO. A return filed in compliance to notice u/s 148 of the Act, happens to one filed u/s 139 of the Act, with

Ajay Satsangi, Delhi vs. Income Tax Officer, Delhi

In the result, the appeal of the assessee stands allowed as above

ITA 2538/DEL/2023[2012-13]Status: DisposedITAT Delhi09 Jul 2024AY 2012-13

Bench: Shri Shamim Yahya & Shri Sudhir Pareekajay Satsangi, Vs. Ito, Ward 28 (1), 2, Eastern Avenue, Delhi. Maharani Bagh, Delhi – 110 065. (Pan : Aazps6763M) (Appellant) (Respondent) Assessee By : Shri K. Sampath, Advocate Shri V. Rajkumar, Advocate Revenue By : Shri Kanv Bali, Sr. Dr Date Of Hearing : 03.07.2024 Date Of Order : 09.07.2024 Order Per Shamim Yahya: This Appeal By The Assessee Is Directed Against The Order Of The Ld. Cit (Appeals)/National Faceless Appeal Centre (Nfac) Dated 01.09.2023 For The Assessment Year 2012-13. 2. Grounds Of Appeal Taken By The Assessee Read As Under :- “A. On The Facts & In The Circumstances Of The Case & In Law The Nfac Delhi Erred In Dismissing The Appeal By Passing A Non- Speaking Order.

For Appellant: Shri K. Sampath, AdvocateFor Respondent: Shri Kanv Bali, Sr. DR
Section 147

income; ii. passing order u/s 147/143(3) of the Act without providing reasons recorded for the formation of the belief of escapement of income; iii. determining the taxable income at Rs. 50,69,689/- as against the true NIL income; iv. making the following additions to the returned income

Alosha Marketing Pvt. Ltd., Kolkata vs. ACIT, Cir. 4(1), Kolkata

In the result, the appeal of the assessee is allowed

ITA 356/KOL/2024[2011-12]Status: DisposedITAT Kolkata08 Jul 2024AY 2011-12

Bench: Dr. Manish Borad (Accountant Member)

Section 143(1)(a)Section 143(2)Section 147Section 148

Assessing Officer merely on the basis of information without carrying out independent investigation and without satisfying as to whether there was at all escapement of income, therefore, reopening under section 147/148 is bad in law and deserves to be dropped. It is also submitted that ld. Assessing Officer ... Assessing Officer which could prove that he had reason to believe that the income had escaped assessment. The allegation, if any, escapement of income must be backed by information expressing ‘reason to believe’ and such belief requires to be based on some credible or relevant material. Assessment cannot be reopened

Alosha Marketing Pvt. Ltd., Kolkata vs. ACIT, Cir. 4(1), Kolkata

In the result, the appeal of the assessee is allowed

ITA 313/KOL/2024[2013-14]Status: DisposedITAT Kolkata08 Jul 2024AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. No. 313/Kol/2024 Assessment Year: 2013-2014 Alosha Marketing Pvt. Ltd.,……………..………Appellant 62A, Hazra Road, Kolkata-700019 [Pan:Aacca1930G] -Vs.- Assistant Commissioner Of Income Tax,.…Respondent Circle-4(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri N.S. Saini, A.R. & Priyanka Salarpuria, A.R., Appeared On Behalf Of The Assessee Shri Manas Mondal, Addl. Cit, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : April 30, 2024 Date Of Pronouncing The Order : July 08, 2024 O R D E R

Section 143(2)Section 147Section 148Section 68

tangible information possessed by the ld. Assessing Officer on the basis of which he can form an opinion that exhibits the escapement of income. In other words, there should be a live nexus between the information available with the ld. Assessing Officer, vis-à-vis the belief formed ... exhibiting the escapement of income. Bearing it in mind, let us evaluate the reasons recorded by the ld. Assessing Officer. A perusal of the assessment order would indicate that ld. Assessing Officer has not given any bifurcation from whom the assessee has received a sum of Rs.1

M/S. Shanker Logistices (P) Ltd., Kolkata vs. DCIT, Cir-7(1), Kolkata

The appeal of the assessee stands allowed

ITA 829/KOL/2023[2012-13]Status: DisposedITAT Kolkata08 Jul 2024AY 2012-13

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.829/Kol/2023 Assessment Year: 2012-13 M/S Shankar Logistics (P) Ltd.….…….…............…...……………....Appellant 207, Maharshi Divendra Road, West Bengal-700007. [Pan: Aajcs8693P] Vs. Dcit, Circle-7(1), Kolkata….....…........................................…..…..... Respondent Appearances By: Shri Miraj D. Shah, Ar, Appeared On Behalf Of The Appellant. Shri P. P. Barman, Addl. Cit-Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : April 10, 2024 Date Of Pronouncing The Order : July 08, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 23.06.2023 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Has Agitated Against The Confirmation Of Addition Of Rs.85,98,795/- By The Ld. Cit(A) As Made By The Assessing Officer Treating The Unsecured Loans Taken By The Assessee As Bogus & Thereby Making The Addition Of The Aforesaid Amount As Unexplained Income Of The Assessee. The Assessee Apart From Challenging The Additions On Merits Has Also Contested The Validity Of The Reopening Of The Assessment.

Section 143(3)Section 147Section 148Section 250

taking bogus purchases or payment entries from these shell companies. 4. Basis of Forming reason to believe and details of escapement of income: There is specific information that the aforementioned companies are shell companies which provide accommodation entries to the various beneficiaries. Perusal of the bank accounts of the companies ... facts of this case. In this case more than four years have lapsed from the end of assessment year under consideration and escapement of income is more than Rs. 1,00,000/-. Hence, necessary approval to issue notice u/s 148 of the I.T. Act, 1961 for the assessment year

Mohammed Nasrudeen, Pudhukottai vs. ITO, Ward 3, Cuddalore

In the result, appeal filed by the assessee is allowed

ITA 645/CHNY/2024[2011-12]Status: DisposedITAT Chennai05 Jul 2024AY 2011-12

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.645/Chny/2024 िनधा"रण वष"/Assessment Year: 2011-12 V. Shri Mohammed Nasrudeen, The Income Tax Officer, 871-B, South Street, Ammapatinam, Ward-3, Manamelgudi, Cuddalore. Pudhukotai District-614 617. [Pan: Azwpm 6686 K] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri N.V.Krishnan, AdvocateFor Respondent: Shri P. Sajit Kumar, JCIT
Section 143(3)Section 148Section 271Section 271(1)(c)Section 274Section 69

Axis Bank, Chidambaram and did not file return of income for AY 2011-12. Therefore, AO recorded reason to believe escapement of income and issued notice on 22.03.2018 and re- opened the assessment; and noted that assessee pursuant to the notice u/s.148 of the Act had filed return of income

Shan Exports, Mumbai vs. Central Circle 3(4), Mumbai

In the result, the appeal of the assessee is allowed

ITA 448/MUM/2024[2015-16]Status: DisposedITAT Mumbai05 Jul 2024AY 2015-16

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhrishan Exports Vs./ Central Circle (3)(4), 1/213, Navjivan Society, बनाम Mumbai Lamington Road, Room No. 1915, 19Th Floor, Mumbai-400008 Air India Bldg. Nariman Point, Mumbai-400021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aalfs008B Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Ms. Mona SolankiFor Respondent: Shri Nagnath Pasale
Section 143(3)Section 148Section 148ASection 194ASection 250Section 251(1)Section 68Section 69A

received to the notice, the AO had rightly initiated the proceedings u/s 148 of the Act, as there was prima facie case of escapement of income. On merits, the assessee has clearly demonstrated through the submissions of bank details that there were no fresh investments/deposits in bank account

M/S Arv Enterprises, Mumbai vs. Assistant Commissioner of Income Tax-22(1), Mumbai

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

ITA 3961/MUM/2023[2011-12]Status: DisposedITAT Mumbai05 Jul 2024AY 2011-12

Bench: Shri Amit Shukla (Jm) & Smt. Renu Jauhri (Am) I.T.A. No. 3961/Mum/2023 (A.Y. 2011-12) M/S. Arv Enterprises Vs. Acit-22(1) 17, Vasant Villa 322, 3Rd Floor Jain Derasar Marg Pirmal Chambers S.V. Road, Santacruz Lalbaug, Parel West, Mumbai-400 Mumbai-400 054. 012. Pan : Aamfa4079M (Appellant) (Respondent) Assessee By Shri Rajesh Kothari Department By Shri Manoj Kumar Sinha Date Of Hearing 16.04.2024 Date Of 05.07.2024 Pronouncement O R D E R Per Renu Jauhri (Am) :-

Section 10(38)Section 143(1)Section 147Section 148Section 149(1)(b)Section 68Section 69C

shares of SVC Resource Ltd. without verifying the correctness of the information or without even establishing any link between information received and escapement of income chargeable to tax. 10) The learned ACIT erred in reopening the assessment under section 147 of the Income Tax Act, 1961 (the Act) without having

Rati Ram Yadav, Gurgaon vs. ITO Ward 3(5), Gurgaon

The appeal of the assessee is allowed for statistical purposes

ITA 753/DEL/2024[2010-11]Status: DisposedITAT Delhi05 Jul 2024AY 2010-11

Bench: Shri C. N.Prasad & Shri Avdhesh Kumar Mishra

Section 144Section 147Section 148Section 234ASection 271(1)(b)

Assessing Officer a. Initiating reassessment proceedings u/s 147/148 of the Income-tax Act, 1961, without there being any valid reason to believe of escapement of income liable to tax; b. passing order u/s 144/147 of the income tax Act, 1961 without providing reasons recorded for reassessment c. passing order