T.G. RANGANATH,BANGALORE vs. DCIT, BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2008-09

5. Regarding the additional ground, the ld. A.R. submitted that the assessment order is void-ab-initio for want of requisite jurisdiction as per 147 of the Act. 5.1 The ld. A.R. submitted that the Survey was conducted u/s 133A of the Act on 17-09-2010 at residential premises at No.523, "SUMUKHA", 3rd Main, BSK 3rd stage, Bangalore

T.G. RANGANATH,BANGALORE vs. ACIT, BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2008-09

5. Regarding the additional ground, the ld. A.R. submitted that the assessment order is void-ab-initio for want of requisite jurisdiction as per 147 of the Act. 5.1 The ld. A.R. submitted that the Survey was conducted u/s 133A of the Act on 17-09-2010 at residential premises at No.523, "SUMUKHA", 3rd Main, BSK 3rd stage, Bangalore

ACIT, BANGALORE vs. SRI. T.G. RANGANATH, BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2008-09

5. Regarding the additional ground, the ld. A.R. submitted that the assessment order is void-ab-initio for want of requisite jurisdiction as per 147 of the Act. 5.1 The ld. A.R. submitted that the Survey was conducted u/s 133A of the Act on 17-09-2010 at residential premises at No.523, "SUMUKHA", 3rd Main, BSK 3rd stage, Bangalore

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(2)(1), BANGALORE vs. SHRI SACHIN KAMATH, BANGALORE

In the result, the Revenue’s appeals bearing ITA Nos

Bench: Shri Chandra Poojari & Shri Pavan Kumar Gadale

133A of the Act was conducted on the premises of the assessee on 03/06/2011 and consequent to search proceedings on ITA No.1780 to 1785-B-17 & CO 27 to 32-B-2018 Page 4 of 22 the premises of Shri Dayananda Pai and M/s. Canara Housing Development Company [‘CHD’ for short]. Acting on seized material and cash transactions

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(2)(1), BANGALORE vs. SHRI SACHIN KAMATH, BANGALORE

In the result, the Revenue’s appeals bearing ITA Nos

Bench: Shri Chandra Poojari & Shri Pavan Kumar Gadale

133A of the Act was conducted on the premises of the assessee on 03/06/2011 and consequent to search proceedings on ITA No.1780 to 1785-B-17 & CO 27 to 32-B-2018 Page 4 of 22 the premises of Shri Dayananda Pai and M/s. Canara Housing Development Company [‘CHD’ for short]. Acting on seized material and cash transactions

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(2)(1), BANGALORE vs. SHRI SACHIN KAMATH, BANGALORE

In the result, the Revenue’s appeals bearing ITA Nos

Bench: Shri Chandra Poojari & Shri Pavan Kumar Gadale

133A of the Act was conducted on the premises of the assessee on 03/06/2011 and consequent to search proceedings on ITA No.1780 to 1785-B-17 & CO 27 to 32-B-2018 Page 4 of 22 the premises of Shri Dayananda Pai and M/s. Canara Housing Development Company [‘CHD’ for short]. Acting on seized material and cash transactions

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1(2)(1), BANGALORE vs. SHRI SACHIN KAMATH , BANGALORE

In the result, the Revenue’s appeals bearing ITA Nos

Bench: Shri Chandra Poojari & Shri Pavan Kumar Gadale

133A of the Act was conducted on the premises of the assessee on 03/06/2011 and consequent to search proceedings on ITA No.1780 to 1785-B-17 & CO 27 to 32-B-2018 Page 4 of 22 the premises of Shri Dayananda Pai and M/s. Canara Housing Development Company [‘CHD’ for short]. Acting on seized material and cash transactions

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1(2)(1), BANGALORE vs. SHRI SACHIN KAMATH , BANGALORE

In the result, the Revenue’s appeals bearing ITA Nos

Bench: Shri Chandra Poojari & Shri Pavan Kumar Gadale

133A of the Act was conducted on the premises of the assessee on 03/06/2011 and consequent to search proceedings on ITA No.1780 to 1785-B-17 & CO 27 to 32-B-2018 Page 4 of 22 the premises of Shri Dayananda Pai and M/s. Canara Housing Development Company [‘CHD’ for short]. Acting on seized material and cash transactions

M/S VVD CONSTRUCTIONS PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, ITA No.3384/Bang/2018 is allowed, while ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

133A conducted by the AO on 27.9.2016, it was found that no regular books of account was maintained and bills & vouchers are not available. On being asked as to why the case of assessee should be subject to special audit, Shri Maki Reddy Venkat Reddy, MD submitted that under oath he declared 8% of turnover as net profit

M/S VVD CONSTRUCTIONS PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, ITA No.3384/Bang/2018 is allowed, while ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

133A conducted by the AO on 27.9.2016, it was found that no regular books of account was maintained and bills & vouchers are not available. On being asked as to why the case of assessee should be subject to special audit, Shri Maki Reddy Venkat Reddy, MD submitted that under oath he declared 8% of turnover as net profit

M/S VVD CONSTRUCTIONS PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, ITA No.3384/Bang/2018 is allowed, while ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

133A conducted by the AO on 27.9.2016, it was found that no regular books of account was maintained and bills & vouchers are not available. On being asked as to why the case of assessee should be subject to special audit, Shri Maki Reddy Venkat Reddy, MD submitted that under oath he declared 8% of turnover as net profit

M/S VVD CONSTRUCTIONS PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, ITA No.3384/Bang/2018 is allowed, while ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

133A conducted by the AO on 27.9.2016, it was found that no regular books of account was maintained and bills & vouchers are not available. On being asked as to why the case of assessee should be subject to special audit, Shri Maki Reddy Venkat Reddy, MD submitted that under oath he declared 8% of turnover as net profit

M/S VVD CONSTRUCTIONS PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, ITA No.3384/Bang/2018 is allowed, while ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

133A conducted by the AO on 27.9.2016, it was found that no regular books of account was maintained and bills & vouchers are not available. On being asked as to why the case of assessee should be subject to special audit, Shri Maki Reddy Venkat Reddy, MD submitted that under oath he declared 8% of turnover as net profit

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

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. ITA Nos.62 to 66/Bang/2023 M/s. Yashaswi Fish Meal and Oil Company, Udupi Page 6 of 85 4.4 Same view is fortified by the judgement of Hon’ble Supreme Court

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

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. ITA Nos.62 to 66/Bang/2023 M/s. Yashaswi Fish Meal and Oil Company, Udupi Page 6 of 85 4.4 Same view is fortified by the judgement of Hon’ble Supreme Court

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

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. ITA Nos.62 to 66/Bang/2023 M/s. Yashaswi Fish Meal and Oil Company, Udupi Page 6 of 85 4.4 Same view is fortified by the judgement of Hon’ble Supreme Court

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

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. ITA Nos.62 to 66/Bang/2023 M/s. Yashaswi Fish Meal and Oil Company, Udupi Page 6 of 85 4.4 Same view is fortified by the judgement of Hon’ble Supreme Court

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

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. ITA Nos.62 to 66/Bang/2023 M/s. Yashaswi Fish Meal and Oil Company, Udupi Page 6 of 85 4.4 Same view is fortified by the judgement of Hon’ble Supreme Court