ROSHA ALLOYS P LIMITED, AMLOH ROAD, VILLAGE TURAN, MANDI GOBINDGARH,PUNJAB vs. DCIT CENTRAL CIRCLE 1, LUDHIANA, PUNJAB

In the result, the appeals filed by the Revenue are dismissed,\nwhereas the appeals of the assessee are allowed

reassessment under Sections 147 and 148 of the\nAct, the existence of information suggesting escapement of income\ncontinues to be a foundational jurisdictional requirement. The Hon'ble\nCourt clarified that the benchmark under the amended law remains\naligned with the earlier threshold of “reason to believe,” and that the\npower under Section 147 cannot be invoked in the absence

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, LUDHIANA , LUDHIANA vs. ROSHA ALLOYS PVT. LTD., MANDI GOBINDGARH

In the result, the appeals filed by the Revenue are dismissed,\nwhereas the appeals of the assessee are allowed

reassessment under Sections 147 and 148 of the\nAct, the existence of information suggesting escapement of income\n\n37\ncontinues to be a foundational jurisdictional requirement. The Hon'ble\nCourt clarified that the benchmark under the amended law remains\naligned with the earlier threshold of “reason to believe,” and that the\npower under Section 147 cannot be invoked

INCOME TAX OFFICE, LUDHIANA vs. SRI GURU HARGOBIND EDUCATIONAL SOCIETY, LUDHIANA

In the result, appeal of the Revenue is dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

1,00,28,221/- in Punjab National Bank and interest earnings of Rs. 61,606/- from Union Bank of India, Bank of India and other accounts. Based on these inputs, the Assessing Officer reopened the assessment under Section 147 and issued notice under Section 148 dated 29.03.2023, pursuant to which the assessee filed a return on 19.04.2023 declaring nil income

THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT,PANCHKULA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE, PANCHKULA

Appeal is allowed

Bench: BEFORE: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

1–42 of the assessee’s paper book, the assessment records, and the judicial precedents cited by both parties. 8.1 The reassessment was initiated based on specific information regarding unexamined NPA provisions amounting to Rs. 27,66,41,513, which were not part of the original assessment under Section 143(3), wherein only a minor NPA provision

THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT,PANCHKULA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE, PANCHKULA

Appeal is allowed

Bench: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

1–42 of the assessee’s paper book, the assessment records, and the judicial precedents cited by both parties. 8.1 The reassessment was initiated based on specific information regarding unexamined NPA provisions amounting to Rs. 27,66,41,513, which were not part of the original assessment under Section 143(3), wherein only a minor NPA provision

ASSISTANT COMMISSIONER OF INCOME TAX, PANCHKULA CIRCLE, PANCHKULA, PANCHKULA vs. THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT, PANCHKULA

Appeal is allowed

Bench: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

1–42 of the assessee’s paper book, the assessment records, and the judicial precedents cited by both parties. 8.1 The reassessment was initiated based on specific information regarding unexamined NPA provisions amounting to Rs. 27,66,41,513, which were not part of the original assessment under Section 143(3), wherein only a minor NPA provision

ASSISTANT COMMISSIONER OF INCOME TAX, PANCHKULA CIRCLE, PANCHKULA, PANCHKULA vs. THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT, PANCHKULA

Appeal is allowed

Bench: BEFORE: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

1–42 of the assessee’s paper book, the assessment records, and the judicial precedents cited by both parties. 8.1 The reassessment was initiated based on specific information regarding unexamined NPA provisions amounting to Rs. 27,66,41,513, which were not part of the original assessment under Section 143(3), wherein only a minor NPA provision

THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT,PANCHKULA vs. DCIT,CIRCLE, PANCHKULA, PANCHKULA

Appeal is allowed

Bench: BEFORE: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

1–42 of the assessee’s paper book, the assessment records, and the judicial precedents cited by both parties. 8.1 The reassessment was initiated based on specific information regarding unexamined NPA provisions amounting to Rs. 27,66,41,513, which were not part of the original assessment under Section 143(3), wherein only a minor NPA provision

THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT,PANCHKULA vs. DCIT, CIRCLE, PANCHKULA, PANCHKULA

Appeal is allowed

Bench: BEFORE: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

1–42 of the assessee’s paper book, the assessment records, and the judicial precedents cited by both parties. 8.1 The reassessment was initiated based on specific information regarding unexamined NPA provisions amounting to Rs. 27,66,41,513, which were not part of the original assessment under Section 143(3), wherein only a minor NPA provision

THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT,PANCHKULA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE,, PANCHKULA

Appeal is allowed

Bench: BEFORE: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

1–42 of the assessee’s paper book, the assessment records, and the judicial precedents cited by both parties. 8.1 The reassessment was initiated based on specific information regarding unexamined NPA provisions amounting to Rs. 27,66,41,513, which were not part of the original assessment under Section 143(3), wherein only a minor NPA provision

ASSISTANT COMMISSIONER OF INCOME TAX, PANCHKULA CIRCLE, PANCHKULA, PANCHKULA vs. THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT, PANCHKULA

Appeal is allowed

Bench: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

1–42 of the assessee’s paper book, the assessment records, and the judicial precedents cited by both parties. 8.1 The reassessment was initiated based on specific information regarding unexamined NPA provisions amounting to Rs. 27,66,41,513, which were not part of the original assessment under Section 143(3), wherein only a minor NPA provision

THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT,PANCHKULA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLEU��, PANCHKULA

Appeal is allowed

1-42\nof the assessee's paper book, the assessment records, and the\njudicial precedents cited by both parties.\n8.1 The reassessment was initiated based on specific information\nregarding unexamined NPA provisions amounting to Rs.27,66,41,513,\nwhich were not part of the original assessment under Section 143(3),\nwherein only a minor NPA provision of Rs.28