SH. VISHWA MITTER SEKHRI CHARITABLE SOCIETY,BATALA vs. THE INCOME TAX OFFICER, (EXEMPTION), AMRITSAR.

In the result the 2nd ground raised by the assessee is liable to be allowed

Bench: Sh. Laliet Kumar & Dr. M. L. Meenai.T.A. No. 75/Asr/2016 Assessment Year: 2007-08

3) of the Act. However, the AO had only erred in not passing a speaking order against the objections raised by the appellant to reopening the assessment u/s 147 of the Act which he was bound to do in accordance with the said decision of the hon'ble Supreme court of India in the case of GKN Driveshaft (India

SHRI HARSH VARDHAN ,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, JALANDHAR

Bench: Sh. Ravish Sood & Dr. M. L. Meena

reassessment proceedings. Apropos the objections filed by the assessee in the course of the assessment proceedings, it was submitted by him that the A.O had failed to dispose off the same by way of a speaking order. Also, it was the claim of the assessee that the impugned assessment order, i.e, u/s 148 r.w.s 143(3), dated 30.03.2016 was passed

SHRIMATI MANJIT KAUR,BATHINDA vs. INCOME TAX OFFICER, WARD 2 (1), BATHINDA

In the result, both the appeals are disposed off in the terms indicated as above

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

147 w.e.f. 1st April, 1989, reassessment can be initiated even if there is disclosure in the return if without considering the particulars of the return, processing is done under s. 143(1) or assessment is made under s. 143(3). No doubt, mere change of opinion by itself is not a ground for reassessment as held in the judgments relied

SHRI BALJINDER SINGH ,BATHINDA vs. INCOME TAX OFFICER, WARD 2(1), BATHINDA

In the result, both the appeals are disposed off in the terms indicated as above

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

147 w.e.f. 1st April, 1989, reassessment can be initiated even if there is disclosure in the return if without considering the particulars of the return, processing is done under s. 143(1) or assessment is made under s. 143(3). No doubt, mere change of opinion by itself is not a ground for reassessment as held in the judgments relied

MESERS SUPERTECH FORGINGS(INDIA) PVT.LTD.,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE IV, JALANDHAR

In the result, the appeal of the Assessee is allowed

3) of the Act, and the entire transaction of the assessee was examined by the assessing officer, therefore in view of first proviso of section 147, no reopening could be made by the assessing officer. It was submitted that there was no failure on the part of the assessee to disclose either the purchase of goods purchased from the parties

SHRIMATI AMARJIT KAUR W/O BUGAR SINGH,MANSA vs. INCOME TAX OFFICER WARD 1(4), MANSA

In the result, the appeal of the assessee is dismissed

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

3 are inter linked to each other wherein the appellant challenged validity of reopening of assessment u/s 147 of the Act. 4. The facts of the case as per record are that in the reassessment proceedings, the statutory notice under section

SHRI NAROTAM SINGH,MANSA vs. INCOME TAX OFFICER WARD -1(4), MANSA

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

reassessment proceedings that the capital was introduced by way of transfer of ancestral land but the status has been mentioned as individual. In view of the above stated facts, the proceedings initiated u/s 147 are void-ab- initio and the notice u/s 147 may kindly be vacated. It is also prayed that the assessment proceedings may kindly be kept pending

SHRI TARLOCHAN SINGH,MANSA vs. INCOME TAX OFFICER WARD-1(4), MANSA

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

reassessment proceedings that the capital was introduced by way of transfer of ancestral land but the status has been mentioned as individual. In view of the above stated facts, the proceedings initiated u/s 147 are void-ab- initio and the notice u/s 147 may kindly be vacated. It is also prayed that the assessment proceedings may kindly be kept pending

M/S CITI PLAZA,JALANDHAR vs. INCOME TAX OFFICER , WARD 3(1), JALANDHAR

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

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

3) of section 153 of the Act would not be attracted. It will be attracted I.T.A. No. 356/Asr/2017 19 Assessment Year: 2006-07 only when the notices under section 147 of the Act has been issued to initiate proceeding under section 147 within the period prescribed under section 149 read with section 150 of the Act. We are fortified

M/S BLUE CITY TOWNSHIP & COLONIZERS,AMRITSAR. vs. THE INCOME TAX OFFICER,, AMRITSAR.

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

reassessment proceeding cannot be initiated under section 147 for the purpose of enquiry and verification. 3. That on the facts and in the circumstances of-the case, CIT did not recorded satisfaction under Section 151 for issuing notice under Section 147. 4. Without prejudice, no approval has been obtained from the component authority as required u/s

SH. FARUKH JEHAN ZEB ,SRINAGAR vs. INCOME TAX OFFICER, ANANT NAG

In the result, the appeal of the assessee is dismissed

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

147 and failure to take steps under section 143(3) will not render the Assessing Officer powerless to initiate reassessment proceedings even when intimation under section 143(1) had been issued.” 10. In another case of “Raymond Woolen Mills Limited. Vs ITO”, 236 ITR 34 the Hon’ble Apex Court has observed as under: “In this case

KAISER INDUSTRIES LIMITED,SAMBA vs. PRINCIPAL.COMMISSIONER OF INCOME TAX-1, SRINAGAR

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

reassessment proceeding and was satisfied that no income has escaped ITA Nos. 20&21/Asr/2021 7 Kaiser Industries Ltd. v. Pr.CIT assessment. The Ld. PCIT, Srinagar has set aside the order passed by Ld. A.O. u/s 143(3) read with section 147

KAISER INDUSTRIES LIMITED ,SAMBA vs. PRINCIPAL COMMISSONER OF INCOME TAX-1, SRINAGAR

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

reassessment proceeding and was satisfied that no income has escaped ITA Nos. 20&21/Asr/2021 7 Kaiser Industries Ltd. v. Pr.CIT assessment. The Ld. PCIT, Srinagar has set aside the order passed by Ld. A.O. u/s 143(3) read with section 147

SHRI HARJINDER SINGH ,BATHINDA vs. INCOME TAX OFFICER, WARD-2(1), BATHINDA

Bench: Sh. Ravish Sood & Dr. M. L. Meena

reassessment proceedings under section 147 r.w.s 148 of the Act, it is not in dispute that the A.O. is required to get the approval of the competent authority i.e; JCIT in the present case. Copy of the form for recording the reasons for initiating the proceedings under section 148 of the Act and for obtaining the approval of the JCIT

SAINIK CO OPERATIVE HOUSE BUILDING SOCIETY LIMITED,JAMMU AND KASHMIR vs. ITO WARD 1(1), JAMMU, JAMMU

In the result the appeal of the assessee is allowed on the legal issue as indicated above

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta(Hybrid Hearing) I.T.A. No. 698/Asr/2024 Assessment Year: 2013-14

147 - period of limitation - notices issued u/s 148 of the old regime - HELD THAT:- A notice under Section 148 of the IT Act accompanied by an order under Section 148A (d) is required to be issued within the time stipulated under Section 149 of the IT Act. Section 148A (d) does not govern the computation of time as contemplated

THE DY. COMMISSIONER OF INCOME TAX, AMRITSAR. vs. SH. JAIMAL SINGH, L/H. SH. PREM CHAND,, TARN TARAN

In the result, the appeal bearing ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

section 69 will I.T.A. No. 82/Asr/2016 9 & C.O. 11/Asr/2016 not be applicable to the legal heir for the assessee and also challenged the jurisdiction for reassessment u/s 147 without issuing the notice u/s 133(6) of the Act. 6. The ld. DR placed that the issue was already agitated before

SOM RAJ,PATHANKOT vs. THE INCOME TAX OFFICER, PATHANKOT

Bench: Shri. Ravish Sood & Dr. M. L. Meena

reassessment proceedings under section 147 r.w.s 148 of the Act, it is not in dispute that the A.O. is required to get the approval of the competent authority i.e; JCIT in the present case. Copy of the form for recording the reasons for initiating the proceedings under section 148 of ITA No. 628/Asr/2016

NASA AGRO INDUSTRIES PRIVATE LIMITED,FAZILKA vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-II, BATHINDA

In the result, the appeal filed by the assessee is allowed for statistical purpose

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta

u/s 132(1)( c ) which has to have been discovered during search. “Assessment of Income of any other person. 153C. [(1) [Notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that,- (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, "belongs