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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

Sssp Consultant and Techno Services Private Limited, Mumbai vs. ACIT, Mumbai

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

ITA 719/MUM/2024[2015-16]Status: DisposedITAT Mumbai12 Feb 2025AY 2015-16

Bench: Shri Saktijit Dey & Shri B.R. Baskaran

For Appellant: Shri Naresh JainFor Respondent: Ms. Monika H. Pande
Section 133ASection 147Section 148

case is assigned to this charge and Survey report is forwarded to this office. Basis of forming reasons to believe and details of escapement of income. The undersigned have gone through the documents impounded during the survey proceedings, Survey report and Return of Income filed by assessee. On perusal ... case is assigned to this charge and Survey report is forwarded to this office. Basis of forming reasons to believe and details of escapement of income. The undersigned have gone through the documents impounded during the survey proceedings, Survey report and Return of Income filed by assessee. On perusal

Sssp Consultant and Techno Services Private Limited, Mumbai vs. ACIT, Mumbai

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

ITA 717/MUM/2024[2014-15]Status: DisposedITAT Mumbai12 Feb 2025AY 2014-15

Bench: Shri Saktijit Dey & Shri B.R. Baskaran

For Appellant: Shri Naresh JainFor Respondent: Ms. Monika H. Pande
Section 133ASection 147Section 148

case is assigned to this charge and Survey report is forwarded to this office. Basis of forming reasons to believe and details of escapement of income. The undersigned have gone through the documents impounded during the survey proceedings, Survey report and Return of Income filed by assessee. On perusal ... case is assigned to this charge and Survey report is forwarded to this office. Basis of forming reasons to believe and details of escapement of income. The undersigned have gone through the documents impounded during the survey proceedings, Survey report and Return of Income filed by assessee. On perusal

Jsw Energy (Utkal) Limited (Formerly Known As Ind Barath Energy Utkal Limited), Hyderabad vs. DCIT., Circle-2(1), Hyderabad

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

ITA 539/HYD/2024[2016-17]Status: DisposedITAT Hyderabad11 Feb 2025AY 2016-17

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri Rakesh Joshi, C.AFor Respondent: : Shri B. Bala Krishna, CIT-DR
Section 142(1)Section 143(3)Section 147Section 148

verification of large scale application of money pending for more than one year, however, the reason for initiation of proceedings u/s.147 is escapement of income due to wrong claim of interest payment of Rs.28,86,53,896/- against interest income of Bank of FDRs. Accordingly, it is abundantly clear that

Assistant Commissioner of Income Tax, Circle-2(1), Hyderabad vs. Jsw Energy (Utkal) Limited, Hyderabad

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

ITA 36/HYD/2024[2016-17]Status: DisposedITAT Hyderabad11 Feb 2025AY 2016-17

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri Rakesh Joshi, C.AFor Respondent: : Shri B. Bala Krishna, CIT-DR
Section 142(1)Section 143(3)Section 147Section 148

verification of large scale application of money pending for more than one year, however, the reason for initiation of proceedings u/s.147 is escapement of income due to wrong claim of interest payment of Rs.28,86,53,896/- against interest income of Bank of FDRs. Accordingly, it is abundantly clear that

Raghuvir Retailers Pvt. Ltd., Kolkata vs. PCIT-2, Kolkata

In the result, the appeal of the assessee is allowed

ITA 919/KOL/2024[2013-14]Status: DisposedITAT Kolkata11 Feb 2025AY 2013-14

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Pcit-2 Raghuvir Retailers Pvt. Ltd. Aaykar Bhavan P-7, Mandawa Shikhar, 151, Sarat Chowringhee Square, Kolkata- Bose Road, Kolkata-700026, Vs. 700069, West Bengal West Bengal (Respondent) (Appellant) Pan No. Aaecr8231M Assessee By : Shri S.M. Surana, Ar Revenue By : Shri Subhendu Datta, Dr Date Of Hearing: 19.12.2024 Date Of Pronouncement : 11.02.2024

For Appellant: Shri S.M. Surana, ARFor Respondent: Shri Subhendu Datta, DR
Section 147Section 148Section 263Section 69A

completed assessment can be disturbed only when there is information or evidence regarding undisclosed income or AO had information in his possession showing escapement of income. So when an AO receives an information regarding undisclosed income of an assessee in respect of an assessment year which has escaped assessment, then ... suspect”; then the AO to make reasonable enquiry and collect material which would make him believe, that there is in fact an escapement of income. And thereafter if he believes the existence of escapement of income then record his reason to believe escapement of income and then issue notice

Sockalingam (HUF), Madurai vs. ACIT, Cirrcle - 1, Madurai

In the result the appeal of the assessee is allowed

ITA 1849/CHNY/2024[2013-14]Status: DisposedITAT Chennai11 Feb 2025AY 2013-14

Bench: Shri Aby T Varkey, Hon’Ble & Shri S.R.Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 1849/Chny/2024 िनधा"रणवष" / Assessment Year: 2013-14 Assistant Commissioner Of Sockalingam (Huf), V. Income Tax, Plot No.423, Kk Nagar East, Circle -1, 9Th Street, Madurai – 625 020. Madurai. [Pan: Aaxhs-5962-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. T. Vasudevan, Advocate ""यथ"क"ओरसे/Respondent By : Ms. R. Anita, Addl. Cit सुनवाई क" तारीख/Date Of Hearing : 06.02.2025 घोषणा क" तारीख/Date Of Pronouncement : 11.02.2025 आदेश /O R D E R

For Appellant: Shri. T. Vasudevan, AdvocateFor Respondent: Ms. R. Anita, Addl. CIT
Section 143(3)Section 147Section 148Section 148ASection 50(1)Section 50CSection 50C(2)Section 54F

condition precedent for the reopening of assessment under sec.147 beyond the 4 year period as per the Proviso to the section, is that escapement of income should arise out of the failure of assessee to disclose fully and truly all material facts and in the absence of the same ... officer null and void. 12.The CIT(A) NFAC, in any event, ought to have seen that there is variation in the escapement of income in sec.148A(b) notice and that stated in the order u/ s.148A(d) and since there was variation in the amounts stated to have escaped assessment

Sunita Jajoo, Surat vs. ITO Ward 2(2)(4), Surat

In the result, assessee’s appeal is allowed

ITA 882/SRT/2024[2011-12]Status: DisposedITAT Surat10 Feb 2025AY 2011-12

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita No. 552/Srt/2024 (Ay 2011-12) (Physical Court Hearing) Rambilash Rajaram Jajoo Income Tax Officer, Ward- 429-432, Golden Point, Falsawadi, 2(2)(4), Aaykar Bhawan, Majura बनाम Ring Road, Surat City, Gate, Opp. New Civil Hospital, Vs Surat-395 002 Surat-395 001 [Pan : Aampj 0040 K] अपीलाथ"/Appellant ""थ" /Respondent

Section 143(3)Section 147Section 148Section 254(1)Section 68Section 69C

importance. In other words, a mere statement that the Assessing Officer had reason to believe that certain income has escaped assessment and such escapement of income was on account of non-filing of the return by the assessee or failure on his part to disclose fully and truly all material

Rambilash Rajaram Jajoo, Surat vs. Income Tax Officer Ward-2(2)(4), Surat

ITA 552/SRT/2024[2011-12]Status: DisposedITAT Surat10 Feb 2025AY 2011-12

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita No. 552/Srt/2024 (Ay 2011-12) Rambilash Rajaram Jajoo (Physical Court Hearing) 429-432, Golden Point, Falsawadi, Ring Road, Surat City, Surat-395 002 [Pan : Aampj 0040 K] अपीलार्थी/Appellant Vs Income Tax Officer, Ward- 2(2)(4), Aaykar Bhawan, Majura Gate, Opp. New Civil Hospital, Surat-395 001 प्रत्यर्थी / Respondent आयकर अपील सं./Ita No. 882/Srt/2024 (Ay 2011-12) Sunita Jajoo 429-432, Golden Point, Near Bsnl Office, Falsawadi, Ring Road, Surat-395 002 [Pan: Aampj 0040 K] बनाम Vs Income Tax Officer, Ward- 2(2)(4), Aaykar Bhawan, Majura Gate, Opp. New Civil Hospital, Surat-395 001 अपीलार्थी/Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से /Assessee By Ms. Richa Toshniwal. Ca राजस्व की ओर से /Revenue By Shri Minal Kamble, Sr. Dr सुनवाई की तारीख/Date Of Hearing 23.01.2025 उद्घोषणा की तारीख/Date Of Pronouncement 10.02.2025 Order Under Section 254(1) Of Income Tax Act Per Pawan Singh: 1. These Two Appeals By Separate Assessee Are Directed Against The Separate Orders Of Addl/Jcit(A)-7, Kolkata/National Faceless Appeal Centre, Delhi [For Short To As "Nfac/Ld.Cit(A)] Dated 21.03.2024 & 21.04.2023 For Same

Section 143(3)Section 147Section 148Section 254(1)Section 68Section 69C

Status Damodar Prasad Jajoo 429-432, Golden Point, Ring Road, Falsawadi, Begampura, Surat. AAWPJ4341H 2011-12 Individual Recording of reason U/s.147 for escapement of income The assessee filed his return of income for A.Y. 2011-12 on 04.02.2012 declaring total Income of Rs.7,14,500/-. The same was processed ... importance. In other words, a mere statement that the Assessing Officer had reason to believe that certain income has escaped assessment and such escapement of income was on account of non-filing of the return by the assessee or failure on his part to disclose fully and truly all material

Hinganghat Nagri Sahakari Pat Sanstha, Hinganghat vs. Income Tax Officer Ward-1, Wardha

In the result, appeal by the assessee for A

ITA 569/NAG/2024[2022-23]Status: DisposedITAT Nagpur10 Feb 2025AY 2022-23

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Suyash RankaFor Respondent: Shri Abhay Y. Marathe
Section 56Section 80P

return of income for AY 2015-16. The above transactions, total to amount Rs.1,32,51,842/- remain unexplained and there is escapement of income in absence of return of income filed. Thus income from above transaction has not been offered for tax and due tax has not been paid ... providing financial assistance to its members and not with object of making profit. 1.2 The Department has issued a Notice u/s 148 for escapement of income in absence of return of income filed. Further Notice u/s 142(1) was issued on 12.12.2022 with compliance date 14.12.2022 which hardly had three

Hinganghat Nagri Sahakari Pat Sanstha, Hinganghat vs. Income Tax Officer Ward-1, Wardha

In the result, appeal by the assessee for A

ITA 568/NAG/2024[2020-21]Status: DisposedITAT Nagpur10 Feb 2025AY 2020-21

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Suyash RankaFor Respondent: Shri Abhay Y. Marathe
Section 56Section 80P

return of income for AY 2015-16. The above transactions, total to amount Rs.1,32,51,842/- remain unexplained and there is escapement of income in absence of return of income filed. Thus income from above transaction has not been offered for tax and due tax has not been paid ... providing financial assistance to its members and not with object of making profit. 1.2 The Department has issued a Notice u/s 148 for escapement of income in absence of return of income filed. Further Notice u/s 142(1) was issued on 12.12.2022 with compliance date 14.12.2022 which hardly had three

Hinganghat Nagri Sahakari Pat Sanstha, Hinganghat vs. Income Tax Ward-1, Wardha

In the result, appeal by the assessee for A

ITA 567/NAG/2024[2018-19]Status: DisposedITAT Nagpur10 Feb 2025AY 2018-19

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Suyash RankaFor Respondent: Shri Abhay Y. Marathe
Section 56Section 80P

return of income for AY 2015-16. The above transactions, total to amount Rs.1,32,51,842/- remain unexplained and there is escapement of income in absence of return of income filed. Thus income from above transaction has not been offered for tax and due tax has not been paid ... providing financial assistance to its members and not with object of making profit. 1.2 The Department has issued a Notice u/s 148 for escapement of income in absence of return of income filed. Further Notice u/s 142(1) was issued on 12.12.2022 with compliance date 14.12.2022 which hardly had three

Hinganghat Nagri Sahakari Pat Sanstha, Hinganghat vs. Income Tax Ward-1, Wardha

ITA 566/NAG/2024[2015-16]Status: DisposedITAT Nagpur10 Feb 2025AY 2015-16

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Suyash RankaFor Respondent: Shri Abhay Y. Marathe
Section 56Section 80PSection 80P(1)

return of income for AY 2015-16. The above transactions, total to amount Rs.1,32,51,842/- remain unexplained and there is escapement of income in absence of return of income filed. Thus income from above transaction has not been offered for tax and due tax has not been paid ... providing financial assistance to its members and not with object of making profit. 1.2 The Department has issued a Notice u/s 148 for escapement of income in absence of return of income filed. Further Notice u/s 142(1) was issued on 12.12.2022 with compliance date 14.12.2022 which hardly had three

M/S. Arthbharti Nagari Sahakari Patsanstha Maryadit, Latur vs. ITO, Ward-1, Latur

In the result, appeal of the Assessee is Partly Allowed

ITA 1848/PUN/2024[2018-19]Status: DisposedITAT Pune10 Feb 2025AY 2018-19

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1848/Pun/2024 िनधा"रण वष" / Assessment Year: 2018-19 M/S.Arthbharti Nagari Sahakari V The Income Tax Officer, Patsanstha Maryadit, S Ward-1, Latur. Adarsh Colony, Old Ausa Road, Latur – 413512. Pan: Aabaa2265P Appellant/ Assessee Respondent / Revenue Assessee By Shri Bhuvanesh Kankani – Ar Revenue By Shri Manoj Tripathi - Dr Date Of Hearing 12/12/2024 Date Of Pronouncement 10/02/2025 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac] For Assessment Year 2018-19Dated 24.07.2024 Passed U/Sec.250 Of The Income Tax Act, 1961. The Assessee Has Raised The Following Grounds Of Appeal : “1. Without Prejudice To Other Grounds & On The Facts & Circumstances Prevailing In The Case & As Per Provisions & Scheme Of The Income-Tax Act, 1961 ('The Act') It Be Held That The Assessment Proceedings So Completed Are Invalid Since The Addition Is Made On An Issue Different Than That For Which Case Was Re-Opened. Since, The Issue Of Re-Opening Did Not Survive The Assessment Proceedings Becomes Void-Ab-Initio. Accordingly, The Assessment Proceedings So Initiated & Completed Be Kindly Annulled & Appellant Be Granted Just & Proper Relief In This Respect.

Section 139(1)Section 147Section 148Section 148ASection 151Section 151ASection 250Section 80P

Assessee filed an elaborate reply which is at page no.11 to 13 of the paper book. Assessee pleaded that there is no escapement of income and hence no notice under section 148 4 should be issued. The Assessing Officer i.e.ITO, Ward-1, Latur passed an order under section 148A

Saraswati Mukund Education Society, Mumbai vs. Income Tax Officer Exemption, Thane, Mumbai

ITA 3316/MUM/2024[2014-15]Status: DisposedITAT Mumbai10 Feb 2025AY 2014-15

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Bhuvanesh KankaniFor Respondent: Shri Kiran Unavekar
Section 11Section 13Section 13(1)(c)Section 13(3)Section 144BSection 147Section 250

department that under Explanation 2 to section 147, it is clearly laid down that for the purposes of section 147, certain cases of escapement of income as mentioned in the Explanation shall be deemed to be cases where income chargeable to tax has escaped assessment. In this connection, reliance

Abdul Saeed Issak Mulla, Mumbai vs. ITO, Int Tax Ward 3(2)(1), Mumbai

In the result, the assessee’s appeal is allowed

ITA 2427/MUM/2024[2017-18]Status: DisposedITAT Mumbai10 Feb 2025AY 2017-18

Bench: SHRI OM PRAKASH KANT (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

Section 143(3)Section 147Section 148Section 148ASection 151Section 151ASection 153Section 274Section 69A

from Shri. Chandrakant Jadhav, cash of Rs. 7,35,000/- belongs to the assessee. in light of the information, there was escapement of income. Assessee’s case was reopened u/s. 147 of the Act and notice u/s. 148 of the Act dated 23.04.2021 was issued. Thereafter, following the directions

Totalenergies Marketing Services, France vs. Deputy Commissioner of Income-Tax, Mumbai

In the result, the assessee’s appeal is allowed

ITA 3405/MUM/2023[2020-21]Status: DisposedITAT Mumbai10 Feb 2025AY 2020-21

Bench: SHRI OM PRAKASH KANT (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

Section 143(3)Section 147Section 148Section 148ASection 151Section 151ASection 153Section 274Section 69A

from Shri. Chandrakant Jadhav, cash of Rs. 7,35,000/- belongs to the assessee. in light of the information, there was escapement of income. Assessee’s case was reopened u/s. 147 of the Act and notice u/s. 148 of the Act dated 23.04.2021 was issued. Thereafter, following the directions

M/S Suncity Niketan Pvt.Ltd., Kolkata vs. Income Tax Officer, 5(1), Kolkata

In the result, the appeal of the assessee stands allowed

ITA 2101/KOL/2024[2013-14]Status: DisposedITAT Kolkata07 Feb 2025AY 2013-14

Bench: Shri Sanjay Garg & Shri Sanjay Awasthii.T.A. No.2101/Kol/2024 Assessment Year: 2013-14 M/S Suncity Niketan Pvt. Ltd………………....….......…....………....Appellant 5, Clive Row, Kolkata -1. [Pan: Aapcs4157E] Vs. Ito, Ward-5(1), Kolkata......................................................…..…..... Respondent Appearances By: Shri Manoj Kataruka, Advocate, Appeared On Behalf Of The Appellant. Shri Subhendu Datta, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : December 12, 2024 Date Of Pronouncing The Order : February 07, 2025 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 06.12.2023 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 Is Aggrieved By The Action Of The Ld. Cit(A) In Confirming The Addition Of Rs.17,99,28,555/- Made By The Assessing Officer By Treating Credits In The Account Of The Assessee As Income Of The Assessee From Unexplained Sources. The Assessee Apart From Challenging The Validity Of The Additions Made/Confirmed By The Lower Authorities On Merits, Has Also Contested The Very Validity Of The Reopening Of The Assessment Order As Well As The Validity Of The Assessment Order For Want Of Issue Of Notice U/S 143(2) Of The Act.

Section 143(2)Section 147Section 250

reasons recorded by you are vague, scanty and ambiguous and do not show any live link between the reasons and the alleged escapement of income. I.T.A. No.2101/Kol/2024 Assessment Year: 2013-14 M/s Suncity Niketan Pvt. Ltd ii. From the recorded reasons mentioned above it transpires that the Investigations wing

Gautam Surendra Jaggi, Mumbai vs. ACIT, 27(1)-Vashi, Mumbai

In the result, appeal of the assessee is allowed

ITA 5545/MUM/2024[2013-14]Status: DisposedITAT Mumbai07 Feb 2025AY 2013-14

Bench: Shri Saktijit Dey, Hon’Ble & Shri Narendra Kumar Billaiya, Hon’Ble

For Appellant: Shri Shailesh Shah, A/RFor Respondent: Shri Pushkaraj Bhangepatil, Sr. D/R
Section 142(1)Section 147Section 148Section 68

This information and application of mind has led the Assessing Officer to form a reasonable belief that there is not only an escapement of income but there has been failure to truly and fully disclose all material facts and information as the modus operandi of shifting profits was not known ... orders. The reasons do not indicate the basis for the Assessing Officer to come to reasonable belief that there has been any escapement of income on the ground that the modifications done in the client code was not on account of a genuine error, originally occurred while punching the trade

Surya Vanijya P.Ltd, New Delhi vs. ACIT, Central Circle-8, New Delhi

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

ITA 2205/DEL/2019[2014-15]Status: DisposedITAT Delhi07 Feb 2025AY 2014-15

Bench: Shri M. Balaganesh & Shri Vimal Kumar

For Appellant: Shri Sridhar, AdvFor Respondent: Shri M.S. Nethrapal, CIT DR
Section 144C(5)Section 147Section 148Section 149Section 149(1)(b)

Section 147 of the Act is primarily challenged by the assessee for both the years under consideration. The Learned AO had quantified the escapement of income for Assessment year 2016-17 at Rs. 4,10,200 and for Assessment year 2017-18 at Rs. 3,17,776 being the membership ... Supreme Court in the case of Rajeev Bansal reported in 469 ITR 46 (SC). The ld AR also submitted that the escapement of income for both the years under consideration is less than Rs 50 lakhs even according to the ld AO while recording the reasons. 4. Admittedly

Babulal Roshanlal Patni, Nagpur vs. DCIT, Cencir 1(2), Nagpur

In the result, appeals of the assessee’s are allowed

ITA 196/NAG/2024[2015-16]Status: DisposedITAT Nagpur06 Feb 2025AY 2015-16

Bench: Shri V. Durga Rao

For Appellant: Shri K.P. Dewani, AdvocateFor Respondent: Shri Abhay Y. Marathe, Sr. DR
Section 147Section 148Section 69A

ITA.No.1224 of 2011 order dated 17.01.2013. 9 ITA.No.193/NAG./2024 5.2.3. He further submitted that the loose papers on which belief of escapement of income chargeable to tax has been derived does not even indicate name of these assessee’s or any date of alleged payment and without making