M/S. TRISHUL BUILDTECH & INFRASTRUCTURES PVT. LTD.,,BENGALURU vs. THE DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, assessee’s appeals are partly allowed

Bench: Shri Chandra Poojari & Shri George George K.

section 23 are now well-settled and if the value returned is not in accordance with such principles, it is open to the assessee to contend that the value as may be determined upon correct application of the law should form the basis of assessment. The revenue authorities, in our view, cannot be heard to say that merely because

MOHAMMED MUJEEB SIKANDER,MANGALORE vs. DCIT, CENTRAL CIRCLE (1), MANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

153A of the Act on 20.7.2009 is to be considered as true and he has nothing to declare as undisclosed income. This has been countered by the ld. AO by observing as under:  “The assessee has stated that the loan advanced to Sri Mahesh is R 2,10,00,000.  As the balance shown in the return of income

MOHAMMED MUJEEB SIKANDER,MANGALORE vs. DCIT, CENTRAL CIRCLE (1), MANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

153A of the Act on 20.7.2009 is to be considered as true and he has nothing to declare as undisclosed income. This has been countered by the ld. AO by observing as under:  “The assessee has stated that the loan advanced to Sri Mahesh is R 2,10,00,000.  As the balance shown in the return of income

M/S.GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

In the result, the assessees' appeals in ITA Nos

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boaz

section 153A of the Act. We therefore confirm his order.” 11. We therefore following the view taken by the Tribunal in the aforesaid case hold that in the absence of incriminating material, the concluded assessment cannot be reopened and assessment u/s. 153A cannot be framed. In the instant case, undisputedly no incriminating material was found, therefore the assessment framed

ASSISTANT COMMISSIONER OF INCOME TAX,, BANGALORE vs. M/S. GMR HYDERABAD INTERNATIONAL AIRPORT LTD,, BANGALORE

In the result, the assessees' appeals in ITA Nos

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boaz

section 153A of the Act. We therefore confirm his order.” 11. We therefore following the view taken by the Tribunal in the aforesaid case hold that in the absence of incriminating material, the concluded assessment cannot be reopened and assessment u/s. 153A cannot be framed. In the instant case, undisputedly no incriminating material was found, therefore the assessment framed

ASSISTANT COMMISSIONER OF INCOME-TAX, BANGALORE vs. M/S.GMR HYDERABAD INTERNATIONAL AIRPORT LTD.,, BANGALORE

In the result, the assessees' appeals in ITA Nos

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boaz

section 153A of the Act. We therefore confirm his order.” 11. We therefore following the view taken by the Tribunal in the aforesaid case hold that in the absence of incriminating material, the concluded assessment cannot be reopened and assessment u/s. 153A cannot be framed. In the instant case, undisputedly no incriminating material was found, therefore the assessment framed

ASSISTANT COMMISSIONER OF INCOME TAX,, BANGALORE vs. M/S. DELHI INTERNATIONAL AIRPORT PVT. LTD., BANGALORE

In the result, the assessees' appeals in ITA Nos

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boaz

section 153A of the Act. We therefore confirm his order.” 11. We therefore following the view taken by the Tribunal in the aforesaid case hold that in the absence of incriminating material, the concluded assessment cannot be reopened and assessment u/s. 153A cannot be framed. In the instant case, undisputedly no incriminating material was found, therefore the assessment framed

M/S. DELHI INTERNATIONAL AIRPORT PRIVATE LIMITED,,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

In the result, the assessees' appeals in ITA Nos

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boaz

section 153A of the Act. We therefore confirm his order.” 11. We therefore following the view taken by the Tribunal in the aforesaid case hold that in the absence of incriminating material, the concluded assessment cannot be reopened and assessment u/s. 153A cannot be framed. In the instant case, undisputedly no incriminating material was found, therefore the assessment framed

ASSISTANT COMMISSIONER OF INCOME TAX,, BANGALORE vs. M/S. GMR HYDERABAD INTERNATIONAL AIRPORT LTD,, BANGALORE

In the result, the assessees' appeals in ITA Nos

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boaz

section 153A of the Act. We therefore confirm his order.” 11. We therefore following the view taken by the Tribunal in the aforesaid case hold that in the absence of incriminating material, the concluded assessment cannot be reopened and assessment u/s. 153A cannot be framed. In the instant case, undisputedly no incriminating material was found, therefore the assessment framed

ASSISTANT COMMISSIONER OF INCOME TAX,, BANGALORE vs. M/S. DELHI INTERNATIONAL AIRPORT PVT. LTD., BANGALORE

In the result, the assessees' appeals in ITA Nos

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boaz

section 153A of the Act. We therefore confirm his order.” 11. We therefore following the view taken by the Tribunal in the aforesaid case hold that in the absence of incriminating material, the concluded assessment cannot be reopened and assessment u/s. 153A cannot be framed. In the instant case, undisputedly no incriminating material was found, therefore the assessment framed

M/S.GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

In the result, the assessees' appeals in ITA Nos

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boaz

section 153A of the Act. We therefore confirm his order.” 11. We therefore following the view taken by the Tribunal in the aforesaid case hold that in the absence of incriminating material, the concluded assessment cannot be reopened and assessment u/s. 153A cannot be framed. In the instant case, undisputedly no incriminating material was found, therefore the assessment framed

M/S. DELHI INTERNATIONAL AIRPORT PRIVATE LIMITED,,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

In the result, the assessees' appeals in ITA Nos

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boaz

section 153A of the Act. We therefore confirm his order.” 11. We therefore following the view taken by the Tribunal in the aforesaid case hold that in the absence of incriminating material, the concluded assessment cannot be reopened and assessment u/s. 153A cannot be framed. In the instant case, undisputedly no incriminating material was found, therefore the assessment framed

ASSISTANT COMMISSIONER OF INCOME TAX,, BANGALORE vs. M/S. DELHI INTERNATIONAL AIRPORT PVT. LTD., BANGALORE

In the result, the assessees' appeals in ITA Nos

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boaz

section 153A of the Act. We therefore confirm his order.” 11. We therefore following the view taken by the Tribunal in the aforesaid case hold that in the absence of incriminating material, the concluded assessment cannot be reopened and assessment u/s. 153A cannot be framed. In the instant case, undisputedly no incriminating material was found, therefore the assessment framed

ASSISTANT COMMISSIONER OF INCOME TAX,, BANGALORE vs. M/S. GMR HYDERABAD INTERNATIONAL AIRPORT LTD,, BANGALORE

In the result, the assessees' appeals in ITA Nos

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boaz

section 153A of the Act. We therefore confirm his order.” 11. We therefore following the view taken by the Tribunal in the aforesaid case hold that in the absence of incriminating material, the concluded assessment cannot be reopened and assessment u/s. 153A cannot be framed. In the instant case, undisputedly no incriminating material was found, therefore the assessment framed

ASSISTANT COMMISSIONER OF INCOME TAX,, BANGALORE vs. M/S. GMR HYDERABAD INTERNATIONAL AIRPORT LTD,, BANGALORE

In the result, the assessees' appeals in ITA Nos

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boaz

section 153A of the Act. We therefore confirm his order.” 11. We therefore following the view taken by the Tribunal in the aforesaid case hold that in the absence of incriminating material, the concluded assessment cannot be reopened and assessment u/s. 153A cannot be framed. In the instant case, undisputedly no incriminating material was found, therefore the assessment framed

ASSISTANT COMMISSIONER OF INCOME TAX,, BANGALORE vs. M/S. GMR HYDERABAD INTERNATIONAL AIRPORT LTD,, BANGALORE

In the result, the assessees' appeals in ITA Nos

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boaz

section 153A of the Act. We therefore confirm his order.” 11. We therefore following the view taken by the Tribunal in the aforesaid case hold that in the absence of incriminating material, the concluded assessment cannot be reopened and assessment u/s. 153A cannot be framed. In the instant case, undisputedly no incriminating material was found, therefore the assessment framed

M/S. GMS HYDERABAD INTERNATIONAL AIRPORT LIMITED,,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

In the result, the assessees' appeals in ITA Nos

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boaz

section 153A of the Act. We therefore confirm his order.” 11. We therefore following the view taken by the Tribunal in the aforesaid case hold that in the absence of incriminating material, the concluded assessment cannot be reopened and assessment u/s. 153A cannot be framed. In the instant case, undisputedly no incriminating material was found, therefore the assessment framed

M/S. DELHI INTERNATIONAL AIRPORT PRIVATE LIMITED,,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

In the result, the assessees' appeals in ITA Nos

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boaz

section 153A of the Act. We therefore confirm his order.” 11. We therefore following the view taken by the Tribunal in the aforesaid case hold that in the absence of incriminating material, the concluded assessment cannot be reopened and assessment u/s. 153A cannot be framed. In the instant case, undisputedly no incriminating material was found, therefore the assessment framed