M/S. INDIA EXPOSITION MART LTD.,NEW DELHI vs. DCIT, NEW DELHI

147, if the Assessing Officer has reason to\nbelieve that any income chargeable to tax has escaped assessment for\nany assessment year, he may, subject to the provisions of sections 148\nto 153, assess or reassess

ACIT CIRCLE-59(1), NEW DELHI vs. NEERAJ KUMAR SINGHAL, NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Saktijit Dey & Shri Pradip Kumar Kedia

Section 147 of the Income Tax Act, 1961 (the Act) concerning AY 2009-10. 2. The revised grounds of appeal raised by the revenue read as under: “1. On the facts and circumstances of case, the Ld. CIT(A)-37 has erred in facts & law in holding that the reassessment

THE COMMISSIONER OF INCOME TAX-V vs. ORIENT CRAFT LTD

reassessment proceedings only “so long as the ingredients of Section 147 are fulfilled” and with reference to Section 143(1) vis- a-vis Section

BSES YAMUNA POWER LTD,DELHI vs. ACIT, CIRCLE-5(1), NEW DEL;HI

The appeal of the assessee is allowed on legal issues

Bench: Shri Anubhav Sharma & Shri Manish Agarwalbses Rajdhani Power Ltd., Dy. Cit, Bses Bhawan, Cicle-5(1), Nehru Place, Vs. New Delhi. New Delhi-110019 Pan-Aagcs3187H (Appellant) (Respondent) Bses Rajdhani Power Ltd., Asst. Cit, Bses Bhawan, Cicle-5(1), Nehru Place, Vs. New Delhi. New Delhi-110019 Pan-Aagcs3187H (Appellant) (Respondent) Bses Yamuna Power Dy. Cit, Limited, Cicle-5(1), Shakti Kiran Building, Vs. New Delhi. Karkardoooma, Delhi-110092 Pan-Aagcs3187H (Appellant) (Respondent) Bses Rajdhani Power Ltd. & Ors Vs. Acit Bses Yamuna Power Asst. Cit, Limited, Cicle-5(1), Shakti Kiran Building, Vs. New Delhi. Karkardoooma, Delhi-110092 Pan-Aagcs3187H (Appellant) (Respondent) Assessee By Shri Rohit Jain, Adv., Sh. Deepesh Jain, Adv. & Sh. Shivam Gupta, Ca Department By Mr. Javed Akhtar, Cit-Dr Date Of Hearing 20/02/2025 Date Of Pronouncement 16/04/2025 O R D E R

Reassessment is barred by limitation in terms of section 149 of the Act. Each of the aforesaid contentions is explained as under: Re (a): Re-assessment barred by limitation in terms of proviso to section 147

BSES YAMUNA POWER LTD.,NEW DELHI vs. DCIT, CIRCLE- 5(1), NEW DELHI

The appeal of the assessee is allowed on legal issues

Bench: Shri Anubhav Sharma & Shri Manish Agarwalbses Rajdhani Power Ltd., Dy. Cit, Bses Bhawan, Cicle-5(1), Nehru Place, Vs. New Delhi. New Delhi-110019 Pan-Aagcs3187H (Appellant) (Respondent) Bses Rajdhani Power Ltd., Asst. Cit, Bses Bhawan, Cicle-5(1), Nehru Place, Vs. New Delhi. New Delhi-110019 Pan-Aagcs3187H (Appellant) (Respondent) Bses Yamuna Power Dy. Cit, Limited, Cicle-5(1), Shakti Kiran Building, Vs. New Delhi. Karkardoooma, Delhi-110092 Pan-Aagcs3187H (Appellant) (Respondent) Bses Rajdhani Power Ltd. & Ors Vs. Acit Bses Yamuna Power Asst. Cit, Limited, Cicle-5(1), Shakti Kiran Building, Vs. New Delhi. Karkardoooma, Delhi-110092 Pan-Aagcs3187H (Appellant) (Respondent) Assessee By Shri Rohit Jain, Adv., Sh. Deepesh Jain, Adv. & Sh. Shivam Gupta, Ca Department By Mr. Javed Akhtar, Cit-Dr Date Of Hearing 20/02/2025 Date Of Pronouncement 16/04/2025 O R D E R

Reassessment is barred by limitation in terms of section 149 of the Act. Each of the aforesaid contentions is explained as under: Re (a): Re-assessment barred by limitation in terms of proviso to section 147

M/s JAY BHARAT MARUTI LTD vs. COMMISSIONER OF INCOME TAX

In the result the appeal is allowed and

147 and 148 read with Section 143 of the Act. At the outset we may point out that we find no infirmity in the Department issuing Ext.P3 under Section 148 or Ext.P6 communication disclosing reasons for reopening the assessment. ExtP3 is a notice issued under Section 148 of the Act proposing to reassess

ADDL.CIT, SPECIAL RANGE-18, NEW DELHI vs. JAGANANTH HEMCHAND JAIN, NEW DELHI

In the result, the appeal of the Revenue as well as Cross Objection of the assessee is dismissed

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar Us

147 r.w. I.T.A. Nos.7754 & 7755/Del/2018 3 CO Nos.15 & 16/Del/2023 Section 148 of the Act. The grounds of the Cross Objections read as under: “1. That there is no valid assumption of jurisdictions u/s. 147/148 of the Income Tax Act by the assessing officer and consequently the Reassessment

ADDL.CIT, SPECIAL RANGE-18, NEW DELHI vs. JAGANANTH HEMCHAND JAIN, NEW DELHI

In the result, the appeal of the Revenue as well as Cross Objection of the assessee is dismissed

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar Us

147 r.w. I.T.A. Nos.7754 & 7755/Del/2018 3 CO Nos.15 & 16/Del/2023 Section 148 of the Act. The grounds of the Cross Objections read as under: “1. That there is no valid assumption of jurisdictions u/s. 147/148 of the Income Tax Act by the assessing officer and consequently the Reassessment

BHAIJEE COMMODITIES PVT. LTD.,NEW DELHI vs. ACIT CIRCLE-4(2), NEW DELHI

Bench: Shri Chandra Mohan Garg & Shri Pradip Kumar Kedia

reassessment proceedings u/s 147 even though the same are without recording proper reasons in terms of provisions of section 147

DCIT, CENTRAL CIRCLE-8, NEW DELHI vs. BHAIJEE COMMODITIES PVT. LTD., DELHI

Bench: Shri Chandra Mohan Garg & Shri Pradip Kumar Kedia

reassessment proceedings u/s 147 even though the same are without recording proper reasons in terms of provisions of section 147

CHANDRA VIDYA INVESTMENT & FINANCE PVT. LTD.,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -28, DELHI, NEW DELHI

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal, Accountnat Member

reassess income of such other person in accordance with the provisions of section 153A. It is proposed to amend the said sub-section so as to provide that notwithstanding anything contained in section 139, section 147

CHANDRA VIDYA INVESTMENT & FINANCE PVT. LTD.,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -28, DELHI, NEW DELHI

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal, Accountnat Member

reassess income of such other person in accordance with the provisions of section 153A. It is proposed to amend the said sub-section so as to provide that notwithstanding anything contained in section 139, section 147

CHANDRA VIDYA INVESTMENT & FINANCE PVT. LTD.,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -28, DELHI, NEW DELHI

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal, Accountnat Member

reassess income of such other person in accordance with the provisions of section 153A. It is proposed to amend the said sub-section so as to provide that notwithstanding anything contained in section 139, section 147

SHYAM PRODUCTS P.LTD,NEW DELHI vs. ITO, WARD-23(3), NEW DELHI

In the result, appeal of the assessee is partly allowed as indicated above

Bench: Shri Challa Nagendra Prasad, S.M.C.

section for invoking reassessment has been recorded as 147(b) of the Act. During the relevant period, section 147(b) was no longer

OPTIMIST ELECTRONICS P.LTD,NEW DELHI vs. ITO, WARD-19(2), NEW DELHI

In the result, appeal of the assessee is partly allowed as indicated above

Bench: Shri Challa Nagendra Prasad, S.M.C.

section for invoking reassessment has been recorded as 147(b) of the Act. During the relevant period, section 147(b) was no longer

ITO, WARD-1(4), FARIDABAD vs. KESHAV MEDICHEM P.LTD, FARIDABAD

In the result, the appeal of the Revenue in ITA No

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

reassess the income in respect of any issue, which has escaped assessment, and such issue comes to his notice subsequently in the course of the proceedings under this section, notwithstanding that the reasons for such issue have not been included in the reasons recorded under sub-section (2) of section 148.” 17. This insertion of Explanation 3 to Section 147

ANIL CHAUDHARY,NEW DELHI vs. ACIT CENTRAL CIRCLE-17, NEW DELHI

In the result, appeals filed by the assessee are allowed

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that any money, bullion, jewellery or other valuable article or thing or books of account or documents seized or requisitioned belongs or belong to any person, other than the person referred to in section 153A, then books of account or documents or assets seized

ANIL CHAUDHARY,NEW DELHI vs. ACIT CENTRAL CIRCLE-17, NEW DELHI

In the result, appeals filed by the assessee are allowed

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that any money, bullion, jewellery or other valuable article or thing or books of account or documents seized or requisitioned belongs or belong to any person, other than the person referred to in section 153A, then books of account or documents or assets seized