ACIT, CIRCLE 1(1), CHANDIGARH vs. M/S SML ISUZU LTD., CHANDIGARH

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

section 147 o f the Act. The Assessing Officer ordering reassessment cannot sit as a court o f appeal over the Assessing Officer making the original assessment and it is not open to the Assessing Officer ordering reassessment to substitute his own opinion for that o f the Assessing Officer, who made the original assessment." (emphasis supplied) In final analysis

S.P. SINGLA CONSTRUCTION PRIVATE LIMITED,DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CHANDIGARH

In the result, the appeal is allowed

Bench: SHRI MAHAVIR SINGH (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

147 of the Act were bad in law, void ab initio has been examined. In order to decide this ground of appeal it is relevant to refer to 4th proviso to section 153A of the Act which is reproduced as under:- ITA 514/CHD/2023 A.Y. 2012-13 5 Provided also that no notice for assessment or reassessment shall be issued

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 proceedings as per binding judgement\nof Hon'ble Apex Court in the case of ACIT Vs Teleperformance Global Service\nPvt. Ltd., reported in 170 taxman.com 81.\n3.\nWithout prejudice to the above grounds, the learned CIT (A) has erred\nin law and on facts in applying a Gross Profit (GP) rate of 4% on the alleged\nbogus purchases, without

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 proceedings as per binding judgement\nof Hon'ble Apex Court in the case of ACIT Vs Teleperformance Global Service\nPvt. Ltd., reported in 170 taxman.com 81.\n3.\nWithout prejudice to the above grounds, the learned CIT (A) has erred\nin law and on facts in applying a Gross Profit (GP) rate of 4% on the alleged\nbogus purchases, without

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 proceedings as per binding judgement\nof Hon'ble Apex Court in the case of ACIT Vs Teleperformance Global Service\nPvt. Ltd., reported in 170 taxman.com 81.\n3.\nWithout prejudice to the above grounds, the learned CIT (A) has erred\nin law and on facts in applying a Gross Profit (GP) rate of 4% on the alleged\nbogus purchases, without

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 proceedings as per binding judgement\nof Hon'ble Apex Court in the case of ACIT Vs Teleperformance Global Service\nPvt. Ltd., reported in 170 taxman.com 81.\n3.\nWithout prejudice to the above grounds, the learned CIT (A) has erred\nin law and on facts in applying a Gross Profit (GP) rate of 4% on the alleged\nbogus purchases, without

SHRI MOHAN LAL GUPTA,SHIMLA vs. PR.CIT-1, CHANDIGARH

In the result, appeal of the Assessee is partly allowed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

147 of the Act, the AO brought to tax capital gains on sale of the land and super structure situated in Mohal Bakhai Tehsil Shimla amounting to Rs. 2,36,10,000/- and thereafter, after allowing transfer expenses of Rs. 27,00,000/-, index cost of Rs. 14,37,717/- (including CLU expenses of Rs 234,614) and deduction under

HOMELIFE BUILDCON PRIVATE LIMITED,SUNVIEW ENCLAVE, AYALI KALAN, LUDHIANA,PUNJAB vs. SMT. SAMANDEEP KAUR DCIT-CENTRAL CIRCLE-1, LUDHIANA, PUNJAB

In the result, Revenue appeal is dismissed and appeal filed by the assessee is allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 880/Chd/2024 निर्धारण वर्ष / Assessment Year : 2021-22 Homelife Buildcon Private Limited Sunview Enclave, Ayali Kalan, Ludhiana, Punjab-142027 स्थायी लेखा सं./PAN NO: AABCH5690M अपीलार्थी/Appellant बनाम The DCIT Central Circle-1 Ludhiana, Punjab प्रत्यर्थी/Respondent आयकर अपील सं. / ITA No. 1036/Chd/2024 निर्धारण वर्ष / Assessment Year : 2021-22 बनाम Homelife Buildcon Private Limited Sunview Enclave, Ayali

147 as amended by Finance Act, 2021 read with explanation 2 of section 148 thereto. The relevant extract of explanation 2 is reproduced below “Explanation 2.—For the purposes of this section, where, — (i) a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A, on or after

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, LUDHIANA , LUDHIANA vs. HOMELIFE BUILDCON PVT. LTD., LUDHIANA

In the result, Revenue appeal is dismissed and appeal filed by the assessee is allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 880/Chd/2024 निर्धारण वर्ष / Assessment Year : 2021-22 Homelife Buildcon Private Limited Sunview Enclave, Ayali Kalan, Ludhiana, Punjab-142027 स्थायी लेखा सं./PAN NO: AABCH5690M अपीलार्थी/Appellant The DCIT Central Circle-1 Ludhiana, Punjab प्रत्यर्थी/Respondent आयकर अपील सं. / ITA No. 1036/Chd/2024 निर्धारण वर्ष / Assessment Year : 2021-22 Homelife Buildcon Private Limited Sunview Enclave, Ayali Kalan, Lu

147 as amended by Finance Act, 2021 read with explanation 2 of section 148 thereto. The relevant extract of explanation 2 is reproduced below “Explanation 2.—For the purposes of this section, where, — (i) a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A, on or after

INDO PACIFIC FINLEASE LTD,CHANDIGARH vs. PCIT- CHANDIGARH 1, CHANDIGARH

In the result, both the appeals are filed by the\nassessee are allowed

reassessment order passed was illegal and invalid due to following:-\n\n1. Notice u/s 148 issued on 01.04.2021 is time barred for the above Assessment Year.\nRegarding the date of issue of notice, there is no date mentioned on ITBA portal when the notice was uploaded and column is left blank. The snapshot is as under:\n\nIncome Tax Portal

INDO PACIFIC FINLEASE LTD,CHANDIGARH vs. PCIT CHANDIGARH 1, CHANDIGARH

In the result, both the appeals are filed by the\nassessee are allowed

reassessment order passed was illegal and invalid due to following:-\n1. Notice u/s 148 issued on 01.04.2021 is time barred for the above Assessment\nYear.\nRegarding the date of issue of notice, there is no date mentioned on ITBA\nportal when the notice was uploaded and column is left blank. The snapshot\nis as under:\nIncome Tax Portal, Government

M/S JAIN AMAR CLOTHING PVT. LTD.,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

147, Section 148, Section 149, Section 151 and Section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132-A after the 31st day of May, 2003, the Assessing Officer shall— (a) issue notice to such person requiring him to furnish

SBS BIOTECH UNIT II,SIRMOUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, CHANDIGARH

In the result, the appeal of the assessee is allowed

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

u/s 148 of the Act for the Assessment Year 2017-18.” 15. Further, our reference was drawn to factual and legal submissions in connection with eligibility of 100% deduction under section 80-IC of the Act so made by the assessee during the course of reassessment proceedings and the contents of which read as under: “Sub: Notice under sub-section

SH. VIBHAV JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. SANJAY GARG (Judicial Member), SHRI. VIKRAM SINGH YADAV (Accountant Member)

147, Section 148, Section 149, Section 151 and Section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132-A after the 31st day of May, 2003, the Assessing Officer shall— (a) issue notice to such person requiring him to furnish

SH. AKHIL JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

147, Section 148, Section 149, Section 151 and Section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132-A after the 31st day of May, 2003, the Assessing Officer shall— (a) issue notice to such person requiring him to furnish

SH. ASHISH JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

147, Section 148, Section 149, Section 151 and Section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132-A after the 31st day of May, 2003, the Assessing Officer shall— (a) issue notice to such person requiring him to furnish

SH. ASHISH JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

147, Section 148, Section 149, Section 151 and Section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132-A after the 31st day of May, 2003, the Assessing Officer shall— (a) issue notice to such person requiring him to furnish

SH. BIPAN JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

147, Section 148, Section 149, Section 151 and Section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132-A after the 31st day of May, 2003, the Assessing Officer shall— (a) issue notice to such person requiring him to furnish

M/S KAUR SAIN SPINNING & WEAVING MILLS LTD.,LUDHIANA vs. ACIT, CC-II, LUDHIANA

In the result, appeal of the assessee is allowed

Bench: Shri N.K. Saini & Shri R.L Negiआयकर अपीलसं./Ita Nos. 1374/Chd/2019 "नधा"रण वष" / Assessment Year : 2011-12 M/S Kaur Sain Spinning & बनाम The Acit, Weaving Mills Ltd., Central Circle-Ii, A-17, Phase Iii, Ludhiana Focal Point, Ludhiana "थायीलेखासं./Pan No: Aabck6909J अपीलाथ"/Appellant ""यथ"/Respondent Hearing Through Video Conferencing "नधा"रतीक"ओरसे/Assessee By : Shri Ashwani Kumar, Ca राज"वक"ओरसे/ Revenue By : Smt. Meenakshi Vohra, Addl. Cit सुनवाईक"तार"ख/Date Of Hearing : 18.01.2021 उदघोषणाक"तार"ख/Date Of Pronouncement : 16.04.2021 आदेश/Order Per R.L. Negi:

12. Similarly, in the case of Indo Global Techno Trade limited vs. ITO (supra), the coordinate Bench has quashed the proceedings- initiated u/s 147 read with section 148 of the Act, for the reason that the AO had formed the belief on the basis of information received from the Directorate of Income Tax (intelligence & Criminal Investigation) containing details of companies