“escapement of income”

Income Tax Officer, Jaipur vs. Pooja Kedia, Jaipuir

In the result, the appeal of the revenue is dismissed

transaction. The assessee submitted the documentary evidences as required in support the said sale transaction. So the very basis of re- opening escapement of income falls down and even the transaction so alleged to have been is not accommodation entry but the sales proceeds of the shares and purchase ... basis. Thus, we note that very basis of re-opening of the case is without recording to any subjective belief as to escapement of income but is assumed be so bogus transaction merely on the information so received is nothing but suspicion and in complete disregard of the facts submitted

Mukesh Jain HUF, Jaipur vs. DCIT, Jaipur

In the result, the appeal of the assessee is allowed

Bench: Reopening The Assessment & Without Independent Application Of Mind. Thus, The Action Of The Ld. Ao In Reopening The Assessment U/S 148 & The Consequent Reassessment Order So Passed Deserves To Be Held Bad In Law.

action of Id. AO in passing the impugned reassessment order u/s 147 of the Act, without recording any subjective belief as to escapement of income and has merely acted upon suspicion by completely ignoring the prerequisite condition for reopening of assessment which can be done only on the basis ... subjective belief of escapement of income on the basis of reasons to be recorded in writing and that suspicion cannot take place of belief. Thus, the impugned reassessment order deserves to be held bad in law. 1.2 That, Ld. CIT(A) has further erred in confirming the action

Deputy Commissioner of Income Tax, Jaipur vs. Bharat Spun Pipe and Construction Company, Jaipur

In the result the appeal of the revenue in ITA no

action of the Ld.AO in reopening the assessment u/s 147 of the Act without recording any subjective belief regarding escapement of income and solely on the basis of information received. As the aforementioned grounds of appeal challenges the legality of proceedings, hence for the sake of convenience, these grounds ... been properly accounted for and the same is acknowledged by Id.AO as well then even as per Id. AO, there is no escapement of income, as the receipt has been duly shown in books of account, and the Id.AO should have dropped the initiation 23 ITA No. 360/JPR/2025

Shivam Readymix Private Limited, Jaipur vs. ACIT, Jaipur

In the result, the appeal of the assessee is allowed

conveyed intention to make addition u/s 69C, not even in the final show cause notice issued. It is thus clear that belief of escapement of income has been made on incorrect appreciation of facts and law and therefore re-assessment proceedings initiated are bad in law and void are initio ... that there must be some nexus between 'reasons to believe' recorded and the assessment framed. Ram Singh 306 ITR 343 (Rajasthan) Reassessment – Income escaping assessment – Income believed to have escaped investment explained by assessee – Tribunal rightly holding reassessment proceedings initiated on non-existing facts and invalid – Income

Rsd Containers Private Limited, Jaipur vs. ITO, Ward 7(1), Jaipur

In the result, the appeal of the assessee is allowed

condition of Section 149 of escaped income being represented by 'asset' is not satisfied. c. reopening without providing the material which suggests escapement of income is against principles of Natural Justice. d. The Id. AO has issued notice u/s 148 without application of his independent mind and merely acted ... information received by him from another wing of the department. e. The Id. AO did not have complete information about alleged escapement of income by the assessee which did not satisfy the conditions stipulated u/s 147. f. The notice has not been issued in faceless manner as per provisions