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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

Nisha Goel, Delhi vs. Income Tax Officer, Ward 52(3), Ward

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

ITA 2767/DEL/2023[2012-13]Status: DisposedITAT Delhi04 Jun 2024AY 2012-13

Bench: Shri Shamim Yahya & Shri Challa Nagendra Prasadिनधा"रणवष"/Assessment Year: 2012-13

Section 144Section 147Section 151

without jurisdiction; that the reasons recorded are highly vague, far-fetched and cannot by any stretch of imagination lead to conclusion of escapement of income and there are merely presumption in nature; that it is a case of mechanical action on the part of the AO as there ... been quoted above. Annexure cannot be regarded as a material or evidence that prima facie shows or establishes nexus or link which discloses escapement of income. Annexure is not a pointer and does not indicate escapement of income. Further, it is apparent that the Assessing Officer did not apply

DCIT Centralcircle-2(3), Chennai vs. M/S Tangi Fcility Solutions Pvt. Ltd., Chennai

The appeal stand dismissed

ITA 735/CHNY/2023[2017-18]Status: DisposedITAT Chennai03 Jun 2024AY 2017-18

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./ Ita No.735/Chny/2023 (िनधा*रणवष* / Assessment Year: 2017-18) Dcit M/S. Tangi Facility Solutions Pvt. Ltd. बनाम/ Central Circle-2(3) Old No.42, New No.2, Chennai-34. Luz Avenue, Mylapore, Vs. Chennai-600 004. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aafct-1408-B (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Appellant By : Mrs. Swapna Nanu Ambath (Cit)- Ld. Dr " थ"कीओरसे/Respondent By : Shri G. Shivakumar (Advocate)-Ld. Ar सुनवाई की तारीख/Date Of Hearing : 18-03-2024 घोषणा की तारीख /Date Of Pronouncement : 03-06-2024

For Appellant: Mrs. Swapna Nanu Ambath (CIT)- Ld. DRFor Respondent: Shri G. Shivakumar (Advocate)-Ld. AR
Section 143(3)Section 147Section 148Section 2(22)(b)Section 56(2)Section 56(2)(viia)

facility management and making investment. Though the assessee was assessed u/s 143(3), the case was reopened upon formation of belief of escapement of income and notice u/s 148 was issued on 23.03.2021. The assessee did not file any return of income in response to the same. Assessment Proceedings

Jet Air Agencies Pvt Ltd, West Bengal vs. Central Circle 2(3)Ahmedabad, Ahmedabad

In the result, Ground Nos

ITA 685/AHD/2023[2012-13]Status: DisposedITAT Ahmedabad31 May 2024AY 2012-13

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri Ram Awatar Dhoot, A.RFor Respondent: Shri Santosh Kumar, Sr. DR
Section 147Section 234BSection 271(1)

considered view that the AO had substantial material in his possession to come to the conclusion that there was escapement of income during the years under consideration, on account of deliberate suppression of facts by the assessee and the Ld. AO also after due diligence could not have unearthed this ... beneficiary of accommodation entries and basis for formation of such belief were several inquiries and investigation by Investigation Wing that there had been escapement of income of assessee from assessment because of his failure to disclose fully and truly all material facts, reopening of assessment was justified

Jet Air Agencies Pvt. Ltd, West Bengal vs. The ACIT, Centra Circle-2(3), Ahmedabad

In the result, Ground Nos

ITA 1597/AHD/2019[2012-13]Status: DisposedITAT Ahmedabad31 May 2024AY 2012-13

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri Ram Awatar Dhoot, A.RFor Respondent: Shri Santosh Kumar, Sr. DR
Section 147Section 234BSection 271(1)

considered view that the AO had substantial material in his possession to come to the conclusion that there was escapement of income during the years under consideration, on account of deliberate suppression of facts by the assessee and the Ld. AO also after due diligence could not have unearthed this ... beneficiary of accommodation entries and basis for formation of such belief were several inquiries and investigation by Investigation Wing that there had been escapement of income of assessee from assessment because of his failure to disclose fully and truly all material facts, reopening of assessment was justified

Jet Air Agencies Pvt. Ltd, West Bengal vs. The ACIT, Centra Circle-2(3), Ahmedabad

In the result, Ground Nos

ITA 1596/AHD/2019[2011-12]Status: DisposedITAT Ahmedabad31 May 2024AY 2011-12

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri Ram Awatar Dhoot, A.RFor Respondent: Shri Santosh Kumar, Sr. DR
Section 147Section 234BSection 271(1)

considered view that the AO had substantial material in his possession to come to the conclusion that there was escapement of income during the years under consideration, on account of deliberate suppression of facts by the assessee and the Ld. AO also after due diligence could not have unearthed this ... beneficiary of accommodation entries and basis for formation of such belief were several inquiries and investigation by Investigation Wing that there had been escapement of income of assessee from assessment because of his failure to disclose fully and truly all material facts, reopening of assessment was justified

Jet Air Agencies Pvt. Ltd, West Bengal vs. The ACIT, Centra Circle-2(3), Ahmedabad

In the result, Ground Nos

ITA 1595/AHD/2019[2011-12]Status: DisposedITAT Ahmedabad31 May 2024AY 2011-12

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri Ram Awatar Dhoot, A.RFor Respondent: Shri Santosh Kumar, Sr. DR
Section 147Section 234BSection 271(1)

considered view that the AO had substantial material in his possession to come to the conclusion that there was escapement of income during the years under consideration, on account of deliberate suppression of facts by the assessee and the Ld. AO also after due diligence could not have unearthed this ... beneficiary of accommodation entries and basis for formation of such belief were several inquiries and investigation by Investigation Wing that there had been escapement of income of assessee from assessment because of his failure to disclose fully and truly all material facts, reopening of assessment was justified

Jet Air Agencies Pvt. Ltd, West Bengal vs. The ACIT, Centra Circle-2(3), Ahmedabad

In the result, Ground Nos

ITA 1594/AHD/2019[2010-11]Status: DisposedITAT Ahmedabad31 May 2024AY 2010-11

Bench: Smt. Annapurna Gupta& Shri Siddhartha Nautiyal

For Appellant: Shri Ram Awatar Dhoot, A.RFor Respondent: Shri Santosh Kumar, Sr. DR
Section 147Section 234BSection 271(1)

considered view that the AO had substantial material in his possession to come to the conclusion that there was escapement of income during the years under consideration, on account of deliberate suppression of facts by the assessee and the Ld. AO also after due diligence could not have unearthed this ... beneficiary of accommodation entries and basis for formation of such belief were several inquiries and investigation by Investigation Wing that there had been escapement of income of assessee from assessment because of his failure to disclose fully and truly all material facts, reopening of assessment was justified

Krishnamoorthy Hariobhaskar, Tiruppur vs. ITO, Ward-2(1), Tiruppur

In the result, appeal filed by the assessee is allowed

ITA 1506/CHNY/2023[2013-14]Status: DisposedITAT Chennai31 May 2024AY 2013-14

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.1506/Chny/2023 िनधा"रण वष"/Assessment Year: 2013-14 V. Shri Krishnamoorthy Haribhaskar, The Income Tax Officer, 35/11, Poochakkadu, 2Nd Street, Ward-2(1), Mangalam Road, Tirupur-641 604. Tirupur. [Pan: Abkph 9735 L] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri T.S.LakshmiFor Respondent: Shri Praveen, JCIT
Section 139Section 148Section 148ASection 149

received information that assessee had deposited huge cash deposits in 3 of his bank accounts; so he received reasons of escapement of income and accordingly issued notice u/s.148 on Krishnamoorthy Haribhaskar :: 6 :: 27.03.2021 considering the extension of time by Taxation and Other Laws (Relaxation of Certain Provisions) Act, 2020 (TOLA

Tata Chemicals Limited, Mumbai vs. DCIT-2(3)(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 851/MUM/2024[2012-13]Status: DisposedITAT Mumbai31 May 2024AY 2012-13

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI RATNESH NANDAN SAHAY (Accountant Member)

Section 143(3)Section 147Section 148Section 234B

relevant period, it is seen that assessee had sale transaction with the said party i.e. M/s Mandal Trader. Therefore, no adverse inference regarding escapement of income is drawn. Hence, assessee's income as determined at Rs. 851,03,41,560/- under normal provision vide order u/s 143(3) r.w.s 144C ... assessee challenged the validity of reopening on the ground that, once ld. AO found that assessee’s objection tenable that there is no escapement of income then he could not have passed the assessment order and should have dropped the proceedings u/s.147 / 148. Besides that, assessee also contended that once

Vijay Manubhai Hirpara, Ahmedabad vs. Principal Commissioner of Income Tax, Ahmedabad-3, Ahmedabad

ITA 296/AHD/2022[2015-16]Status: DisposedITAT Ahmedabad30 May 2024AY 2015-16

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyalassessment Year: 2015-16

Section 143(3)Section 14ASection 263

erred in passing order under Section 263 of the Act only on the basis of suspicion and not on any substantial material suggesting escapement of income. 4. On the facts and circumstances of the case as well as law on the subject, the Principal Commissioner of Income Tax, Ahmedabad

Vijay Kantilal Vora, Vadodara vs. DCIT, Circle-4(2)(1), Vadodara

ITA 1821/AHD/2018[2011-12]Status: DisposedITAT Ahmedabad30 May 2024AY 2011-12

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member Assessment Year : 2011-12 Vijay Kantilal Vora The Dcit 201, Shrushti Flats, Vs Circle-4(2)(1), Opp. Geb Sub Station, Vadodara Gotri Road, Vadodara-390021 Pan: Aakpv3542 J अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Sunil Talati, Ca Revenue By : Shri Sudhakar Verma, Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 27/05/2024 घोषणा क" तार"ख /Date Of Pronouncement: 30/05/2024 आदेश/O R D E R Per Makarand V. Mahadeokarthis Appeal By The Assessee Is Directed Against The Order Of The Commissioner Of Income Tax (Appeals)- 4 Vadodara (Hereinafter Referred As “Ld. Cit(A)” Dated 30.1.2018, Relating To The Assessment Order Passed By The Assessing Officer (Hereinafter Referred As “Ao”) Under Section 144 R.W.S. 147 Of The Income Tax Act, 1961(Hereinafter Referred As “The Act” For The Assessment Year2011-12. 2. Assessee Has Taken Following Grounds Of Appeal: Vijay Kantilal Vora Vs. Dcit Asst. Year : 2011-12

For Appellant: Shri Sunil Talati, CAFor Respondent: Shri Sudhakar Verma, Sr.DR
Section 10(38)Section 143(3)Section 144Section 147Section 148Section 68

facts in reopening the case of appellant invoking the provisions Section 147 of the Act. It is submitted that there is no escapement of income on the part of appellant, as the complete details of LTCG gain earned on sale of shares of KGN Industries were filed and, verified

Brentford Merchants Pvt. Ltd., Kolkata vs. ACIT(OSD), Ward-1(4), Kolkata

In the result, the appeal of the assessee stands allowed

ITA 452/KOL/2024[2010-11]Status: DisposedITAT Kolkata30 May 2024AY 2010-11

Bench: Shri Sanjay Garg & Shri Sanjay Awasthii.T.A. No.452/Kol/2024 Assessment Year: 2010-11 Brentford Merchants Pvt. Ltd...…..………...........…...……………....Appellant C/O Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite 213, 2Nd Floor, Kolkata – 700069. [Pan: Aabcb2698B] Vs. Acit(Osd), Ward-1(4), Kolkata…......................................…..…..... Respondent Appearances By: Shri Siddharth Agarwal, Advocate, Appeared On Behalf Of The Appellant. Shri Prabhakar Prakash Ranjan, Addl. Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 21, 2024 Date Of Pronouncing The Order : May 30, 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 13.02.2024 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 Taken The Following Grounds Of Appeal: “1. 1. For That The Ld. Cit(A) Was Not Justified In Upholding The Validity Of Re-Opening Proceedings U/S 147/144 Which Is Bad In Law & Is Liable To Be Quashed. 2. For That The Ld. Cit(A) Was Not Justified In Upholding The Re-Opening Proceedings In Spite Of The Fact That The Reasons To Believe Were Invalid & Improper Thereby, Vitiating The Reopening Proceedings.

Section 147Section 151Section 250Section 68

income of the assessee has escaped assessment and further that the satisfaction arrived by the Assessing Officer in forming the belief of the escapement of income was based on borrowed satisfaction. Secondly, even on merits, there is nothing on record that the assessee has received any such amount as alleged ... records of the assessee and straightway reopened the assessment. The Assessing Officer did not make his own satisfaction to form the belief of escapement of income of the assessee. The reopening of the assessment has been made by the Assessing Officer on the basis of borrowed satisfaction. It has been

Assistant Commissioner of Income Tax, Circle-1, Tirunelveli vs. Ms.Aarthi Scans, Kovilpatti

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

ITA 75/CHNY/2024[2012-13]Status: DisposedITAT Chennai30 May 2024AY 2012-13

Bench: Shri Mahavir Singhand Shri Jagadish

For Appellant: Shri P. Sajit Kumar, JCITFor Respondent: Shri Vijay Kumar, CA
Section 142(1)Section 143(2)Section 143(3)Section 147Section 148

Income Tax, Madurai-1, Madurai. From the above reason, it cannot be inferred or there is no iota or word about the escapement of income, how the income has escaped due to the failure on the part of the assessee to file fully and truly all material facts necessary

Deputy Commissioner of Income-Tax, Central Circle-5(4), Mumbai vs. Satellite Developers Private Limited, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 931/MUM/2024[2012-13]Status: DisposedITAT Mumbai30 May 2024AY 2012-13

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI RANESH NANDAN SAHAY (Accountant Member)

Section 143(3)Section 147Section 148Section 14A

return of income of Rs.7,77,73,844/-. The assessee’s case was then reopened u/s.147 on the ground that there is an escapement of income of Rs.2,28,74,132/- on account of disallowance u/s.14A which was left to be made in the original assessment order u/s.143(3). Accordingly

Irshad Zafar Malik, Patna vs. Assistant Commissioner of Income Tax (International Taxation)-3(2)(2), Mumbai

Appeal is allowed for 11

ITA 259/MUM/2024[2013-14]Status: DisposedITAT Mumbai30 May 2024AY 2013-14

Bench: SHRI AMARJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: NoneFor Respondent: Shri H.M. Bhatt
Section 144Section 147Section 69

deposits in the said bank account are transfer from bank accounts maintained abroad. Notice u/s 148 dated 09/11/2017 was issued alleging escapement of income of Rs.35,17,000/- on the basis of AIR information regarding purchase of property. During the course of assessment proceedings, it was communicated vide email dated

Krishna Developers Pvt Ltd., Mumbai vs. Assistant Commissioner of Income Tax, Circle -10(1)(2), Mumbai

In the result, the appeal of the assessee is allowed

ITA 4292/MUM/2023[2009-10]Status: DisposedITAT Mumbai30 May 2024AY 2009-10

Bench: Shri B.R. Baskaran & Ms.Kavitha Rajagopalassessment Year : 2009-10 M/S. Krishna Developers Pvt. Ltd. 508, Gundecha Chambers, Nagindas Master Road, Fort, Mumbai – 400 023. Pan: Aabck-5678-G ---- Appellant Vs. Assistant Commissioner Of Income Tax, Circle – 10(1)(2), Mumbai Room No.651, 6Th Floor, Aaykar Bhavan, M.K. Road, Mumbai – 400 020. --- Respondent

For Appellant: Shri Rakesh JoshiFor Respondent: Shri P.D. Chougule, Sr. DR
Section 115JSection 133ASection 143(1)Section 143(3)Section 148Section 68

reasons for reopening of assessment, the assessing officer has not mentioned as to how it would turn into revenue receipt resulting in escapement of income. Thus, the AO has not demonstrated how he entertained the belief that there was escapement of income. (e) The Excess share premium amount in excess

M/S Gujarat Realtores, Mumbai vs. Deputy Commissioner of Income Tax, Central Circle 1, Thane

In the result, the appeal for assessment year 2009

ITA 3525/MUM/2023[2013-14]Status: DisposedITAT Mumbai30 May 2024AY 2013-14

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3523 To 3525/Mum/2023 Assessment Years: 2009-10, 2012-13, 2013-14 M/S Gujarat Realtors, Dy. Cit Central Circle-1, Ground Floor, Samriddhi, Room No. 10, 6Th Floor, Ashar Annapurna Estate, Indralok, Vs. It Park, Wagle Industrial Godhbunder Link Road, Thane, Estate, Thane (W)-400604. Bhayander, 401105. Pan No. Aahfg 0051 C Appellant Respondent Assessee By : Mr. Anuj Kisnadwala Revenue By : Mr. Manoj Kumar Singh, Sr. Dr Date Of Hearing : 16/04/2024 : Date Of Pronouncement 30/05/2024

For Appellant: Mr. Anuj KisnadwalaFor Respondent: Mr. Manoj Kumar Singh, Sr. DR
Section 143(3)Section 147Section 148Section 153CSection 234BSection 36Section 68

obtained accommodation entries and accordingly tries and accordingly he recorded the reason to believe he recorded the reason to believe that income escaped assessment income escaped assessment and he issued notice u/s 148 of the Act and he issued notice u/s 148 of the Act on 30.03.2016. Thereafter ... unaccounted money through sham indulged into such activity to route its unaccounted money through sham transactions which h transactions which has resulted into escapement of income of more than as resulted into escapement of income of more than Rs.1 lakh within the meaning of provisions of clause (b) of Explanation

M/S Gujarat Realtores, Mumbai Suburban vs. Deputy Commissioner of Income Tax -Central Circle 1, Thane

In the result, the appeal for assessment year 2009

ITA 3524/MUM/2023[2012-13]Status: DisposedITAT Mumbai30 May 2024AY 2012-13

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3523 To 3525/Mum/2023 Assessment Years: 2009-10, 2012-13, 2013-14 M/S Gujarat Realtors, Dy. Cit Central Circle-1, Ground Floor, Samriddhi, Room No. 10, 6Th Floor, Ashar Annapurna Estate, Indralok, Vs. It Park, Wagle Industrial Godhbunder Link Road, Thane, Estate, Thane (W)-400604. Bhayander, 401105. Pan No. Aahfg 0051 C Appellant Respondent Assessee By : Mr. Anuj Kisnadwala Revenue By : Mr. Manoj Kumar Singh, Sr. Dr Date Of Hearing : 16/04/2024 : Date Of Pronouncement 30/05/2024

For Appellant: Mr. Anuj KisnadwalaFor Respondent: Mr. Manoj Kumar Singh, Sr. DR
Section 143(3)Section 147Section 148Section 153CSection 234BSection 36Section 68

obtained accommodation entries and accordingly tries and accordingly he recorded the reason to believe he recorded the reason to believe that income escaped assessment income escaped assessment and he issued notice u/s 148 of the Act and he issued notice u/s 148 of the Act on 30.03.2016. Thereafter ... unaccounted money through sham indulged into such activity to route its unaccounted money through sham transactions which h transactions which has resulted into escapement of income of more than as resulted into escapement of income of more than Rs.1 lakh within the meaning of provisions of clause (b) of Explanation

M/S. Gujarat Realtors (Firm), Bhayander vs. DCIT, CC-1, Thane

In the result, the appeal for assessment year 2009

ITA 3523/MUM/2023[2009-10]Status: DisposedITAT Mumbai30 May 2024AY 2009-10

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3523 To 3525/Mum/2023 Assessment Years: 2009-10, 2012-13, 2013-14 M/S Gujarat Realtors, Dy. Cit Central Circle-1, Ground Floor, Samriddhi, Room No. 10, 6Th Floor, Ashar Annapurna Estate, Indralok, Vs. It Park, Wagle Industrial Godhbunder Link Road, Thane, Estate, Thane (W)-400604. Bhayander, 401105. Pan No. Aahfg 0051 C Appellant Respondent Assessee By : Mr. Anuj Kisnadwala Revenue By : Mr. Manoj Kumar Singh, Sr. Dr Date Of Hearing : 16/04/2024 : Date Of Pronouncement 30/05/2024

For Appellant: Mr. Anuj KisnadwalaFor Respondent: Mr. Manoj Kumar Singh, Sr. DR
Section 143(3)Section 147Section 148Section 153CSection 234BSection 36Section 68

obtained accommodation entries and accordingly tries and accordingly he recorded the reason to believe he recorded the reason to believe that income escaped assessment income escaped assessment and he issued notice u/s 148 of the Act and he issued notice u/s 148 of the Act on 30.03.2016. Thereafter ... unaccounted money through sham indulged into such activity to route its unaccounted money through sham transactions which h transactions which has resulted into escapement of income of more than as resulted into escapement of income of more than Rs.1 lakh within the meaning of provisions of clause (b) of Explanation

Parmanand & Sons Food Product Pvt. Ltd, Delhi vs. DCIT, Central Circle-20

In the result, the appeals are disposed of as follows:

ITA 981/DEL/2022[2018-19]Status: DisposedITAT Delhi30 May 2024AY 2018-19

Bench: Dr. B.R.R. Kumar & Sh. Yogesh Kumar Usita No. 711, 712 & 713/Del/2022 A.Y. 2016-17, 2017-18 & 2018-19 Kwality Techmech Pvt. Ltd. Vs. Dcit/Acit, B-20, Lawrence Road Cc-20, Industrial Area , Delhi Keshav Puram, North West Delhi, Delhi-110035 Pan : Aaeck1176E Appellant Respondent

Section 69B

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI (DELHI BENCH ‘H’ : NEW DELHI) BEFORE DR. B.R.R. KUMAR ACCOUNTANT MEMBER AND SH