SURESH CHAND GUPTA,JHANSI vs. DCIT-6, JHANSI

In the result, the assessee’s appeal is dismissed

Bench: Shri Laliet Kumar,And Dr. Mitha Lal Meena

reassessment proceedings under section 147 was initiated within the four year period from the end of the relevant assessment year and therefore, the first proviso to section 147 has no application and the Tribunal's finding to the contrary is factually incorrect. Amended provisions of section 147 effective from 1-4-1989 authorize income escaping assessment If the Assessing Officer

SH. YUGAL KISHOR AGARWAL,AGRA vs. DCIT, CIRCLE 4(3)(1), ETAH

In the result, appeal filed by the assessee is allowed

Bench: : Shri Ramit Kocharassessment Year: 2012-13

reassessment order u/s 147 read with Section 143(3) dated 24.10.2019, the Assessing Officer made two additions – firstly, disallowance of Rs.12,15,413/- claimed by the assessee as expenditure against income from other sources by invoking provision of Section 57(iii) of the Act as the assessee could not furnish any evidences in respect of these expenses , and secondly disallowance

LAKSHYA ICE & COLD STORAGE P LTD,ALIGARH vs. ITO WARD 1(5), ALIGARH

In the result, by the assessee is allowed

Bench: Shri Sudhanshu Srivastava & Dr. Mitha Lal Meenam/S Lakshya Ice & Cold Storage Pvt. Ltd. Vs.. Income Tax Officer, Goyal Bhawan, Opp. Maheshwari Inter Ward 1(5), Aligarh College, Sasni Gate, Bye Pass Road, Aligarh (Pan: Aabcl5656R) (Respondent) (Appellant)

reassessment proceedings U/s 147 of the IT Act was raised by the assessee before the AO, hence, it cannot be taken up at this stage. In reply, the Ld. AR of the assessee relied upon following authoritative decisions including the jurisdictional High Court on this issue: 1. Smt. Raj Rani Gulati Vs. Commissioner of Income-tax (2013) 33 taxmann.com

RATNESH KUMAR JAIN,SHIVPURI vs. INCOME TAX OFFICER ASHOK NAGAR, GWALIOR

In the result, appeal of the assessee is allowed for statistical

Bench: : Shri Ramit Kochar & Shri Sudhir Kumar

incomes in Profit and loss account, for which no credit was given. Bank account was fully explained with the books of account. The assessee also contended that no notice u/s. 143(2) was issued prior to framing of reassessment order. It was submitted that the reassessment is bad in law as the assessment was reopened on the ground that

CHANDRA PRAKASH GOPLANI,BENGALURU vs. ITO 2(1)(1), AGRA

In the result, appeal of the assessee is allowed for statistical

Bench: : Shri Ramit Kocharassessment Year: 2012-13

income of the assessee being unexplained cash deposits in the saving bank account of the assessee maintained with ICICI Bank, Sanjay Place, Agra, by best judgment re-assessment order passed by the AO u/s 147 read with Section 144. Thus, the assessee did not participated in the re- assessment proceedings.The ld. CIT(Appeals) also dismissed the appeal of the assessee

SAGAR DWELLINGS P LTD,NEAR SUN TEMPLE GWALIOR vs. ACIT, FACELESS

In the result, assessee’s appeal is dismissed

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

reassessment order dated 21.03.2022 passed u/s. 147 r.w.s. 144B of the Act. 3. Aggrieved, assessee preferred first appeal before the Ld. CIT(Appeals), who dismissed assessee’s appeal and confirmed the impugned addition. 4 | P a g e 4. Present second appeal has been filed on the following grounds : “1. BECAUSE, upon due consideration of facts and in the overall

A.C.I.T.,CENTRAL CIRCLE, AGRA vs. M/S WELCOME COIR INDUSTRIES LTD.,, NEW DELHI

Bench: Shri A. D. Jain & Dr. Mitha Lal Meena

business as sub- broker. I.T.A No. 266 to 269/Agra/2013 3 3. As discussed by the AO in the assessment order, this Company is connected with the Shanker Gutkha Group. The case of the assessee Company was centralized u/s 127 of the Income Tax Act, 1961 by the ld. Commissioner of Income Tax, Gwalior with the Dy. CIT/ACIT, Central Circle, Agra

M/S UMA GLASS WORKS ,FIROZABAD vs. PR.CIT.-1, AGRA

In the result, both the appeals of the assessee for AYs 2014-15 and

Bench: Shri Anil Chaturvedi & Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A Nos.17 & 18/Agra/2021 िनधा"रणवष"/Assessment Years:2014-15 & 2015-16 बनाम M/S Uma Glass Works Pcit, 22, Near Industrial Estate, Vs. Agra-1, Firozabad - 283203 Uttar Pradesh.

147 of the Act in not making addition U/s 68 resulted in erroneous and prejudicial to the interests of revenue except stating that the Assessing Officer should have been made addition U/s 68 I.T.A.Nos.17 & 18/Agra/2021/A.Ys.2014-15 & 2015-16 instead of treating the net profit as assessed income of the Assessee on account of alleged difference in closing stock

M/S UMA GLASS WORKS,AGRA vs. PR.CIT.-1, AGRA

In the result, both the appeals of the assessee for AYs 2014-15 and

Bench: Shri Anil Chaturvedi & Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A Nos.17 & 18/Agra/2021 िनधा"रणवष"/Assessment Years:2014-15 & 2015-16 बनाम M/S Uma Glass Works Pcit, 22, Near Industrial Estate, Vs. Agra-1, Firozabad - 283203 Uttar Pradesh.

147 of the Act in not making addition U/s 68 resulted in erroneous and prejudicial to the interests of revenue except stating that the Assessing Officer should have been made addition U/s 68 I.T.A.Nos.17 & 18/Agra/2021/A.Ys.2014-15 & 2015-16 instead of treating the net profit as assessed income of the Assessee on account of alleged difference in closing stock

HARDAYAL MILK PRODUCTS PRIVATE LIMITED,SHIKOHABAD vs. DCIT, CIRCLE-2(2)(1), FIROZABAD, FIROZABAD

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

Bench: : Shri S. Rifaur Rahman & Shri Sunil Kumar Singh

reassessment proceedings are ex facie bad in law, being initiated without satisfying the conditions stipulated in first proviso to Section 147, and are thus liable to be quashed as void ab initio. The statutory conditions under the first proviso to Section 147 are that no action for reopening can be taken beyond four years unless there is a failure

HARDAYAL MILK PRODUCTS PRIVATE LIMITED,SHIKOHABAD vs. DCIT, CIRCLE-2(2)(1), FIROZABAD, FIROZABAD

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

Bench: : Shri S. Rifaur Rahman & Shri Sunil Kumar Singh

reassessment proceedings are ex facie bad in law, being initiated without satisfying the conditions stipulated in first proviso to Section 147, and are thus liable to be quashed as void ab initio. The statutory conditions under the first proviso to Section 147 are that no action for reopening can be taken beyond four years unless there is a failure

TEJ SINGH,MATHURA vs. ITO 1(3)(4), MATHURA

In the result, the Appeal of the assessee is partly allowed

business transaction and thus amenable of being charged as ‘capital gains’. 7. Because, without prejudice to the above, learned ‘CTT (Appeals)’ erred in not quantifying, the amount of income chargeable as ‘capital gains’ and remitting the matter to the file of ‘AO’ for verification of genuineness of purchase deed ignoring the fact that the purchase deed had been submitted

SMT. VIDHYA AGARWAL,AGRA vs. I.T.O., WARD-4(4), AGRA

The appeal is allowed

Bench: Shri Sudhanshu Srivastava & Dr. Mitha Lal Meena

reassessment proceedings was entirely valid and it was prayed that the assessees’ appeals be dismissed by holding the assumption of jurisdiction u/s 148 of the Act to be valid in the eyes of law. 5.0 We have heard the rival submissions, perused the material available on record and have also duly considered the various judicial precedents referred to and relied

DY.C.I.T., CENTRAL CIRCLE, AGRA vs. M/S VACMET PACKAGINGS (INDIA) PVT. LTD., AGRA

Bench: Shri A. D. Jain & Dr. Mitha Lal Meena

reassessment proceeding was initiated only on the basis of a letter received from Investigation Wing providing only a general and vague information about providing of accommodation entry to the assessee of Rs. 5.50 crore by Shri Surendra Kumar Jain Group without there being any supporting documents to prima facie show that the information provided was related to the assessee under

MANOJ KUMAR AGARWAL,FARRUKHABAD vs. DCIT CIRCLE-4(2)(1) FARRUKHABAD, FARRUKHABAD

In the result, appeal of the assessee is allowed for AY 2017-18 and appeal of the assessee for AY 2015-16 is partly allowed

Bench: Shri M. Balaganesh & Shri Sunil Kumar Singh(Through Virtual Hearing)

business of sale and purchase of Escorts Tractors, motorcycle and lubricants, it would not be possible for him to cultivate his own agricultural land to the fullest extent and hence he could not have cultivated his brother‟s agricultural land. The assessee furnished the details of land holding, crop grown and sale of agricultural produce together with documentary evidences

MANOJ KUMAR AGARWAL,FARUKHABAD vs. ASSESSING OFFICER, FARRUKHABAD

In the result, appeal of the assessee is allowed for AY 2017-18 and appeal of the assessee for AY 2015-16 is partly allowed

Bench: Shri M. Balaganesh & Shri Sunil Kumar Singh(Through Virtual Hearing)

business of sale and purchase of Escorts Tractors, motorcycle and lubricants, it would not be possible for him to cultivate his own agricultural land to the fullest extent and hence he could not have cultivated his brother‟s agricultural land. The assessee furnished the details of land holding, crop grown and sale of agricultural produce together with documentary evidences

ACIT, CC, AGRA, AGRA vs. HMA AGRO INDUSTRIES LIMITED,, AGRA

In the result, ground no.1 raised by the Revenue is accordingly dismissed

Bench: Shris.Rifaur Rahman & Shri Sunil Kumar Singhhma Agro Industries Limited, Vs. Dcit, Central Circle, 2/220, 2Nd Floor, Glory Plaza, Agra. Opp. Soor Sadan, M.G. Road, Agra – 282 002. (Pan :Aacch0450J)

Income-tax Act, 1961 - Unexplained expenditure (Statements made before other authorities, relevance of) - Assessment year 2005-06 - Assessee- company was engaged in business of manufacturing of non- alloys steel ingots, trading in scrap, etc. - Subsequent to assessment, Commissioner invoked jurisdiction under section 263 on basis of statement made by director of assessee-company before Central excise authorities in context

ACIT, CC, AGRA, AGRA vs. HMA AGRO INDUSTRIES LIMITED,, AGRA

In the result, ground no.1 raised by the Revenue is accordingly dismissed

Bench: Shris.Rifaur Rahman & Shri Sunil Kumar Singhhma Agro Industries Limited, Vs. Dcit, Central Circle, 2/220, 2Nd Floor, Glory Plaza, Agra. Opp. Soor Sadan, M.G. Road, Agra – 282 002. (Pan :Aacch0450J)

Income-tax Act, 1961 - Unexplained expenditure (Statements made before other authorities, relevance of) - Assessment year 2005-06 - Assessee- company was engaged in business of manufacturing of non- alloys steel ingots, trading in scrap, etc. - Subsequent to assessment, Commissioner invoked jurisdiction under section 263 on basis of statement made by director of assessee-company before Central excise authorities in context