ASHOK KUMAR GUPTA,NEW DELHI vs. DCIT, CENTRAL CIRCLE-14, NEW DELHI

In the result grounds of appeal raised by assessee is allowed

Bench: Shri Kul Bharat & Dr.B.R.R.Kumar[Assessment Year : 2017-18] Ashok Kumar Gupta, Vs Dcit, C/O-Anil Jain Dd & Co., 611, Surya Central Circle-14, Kiran Building, 19 K.G.Marg, New Delhi. New Delhi-110001. Pan-Aaapg2240G Appellant Respondent Appellant By Shri Shivam Garg, Adv. & Shri Rahul Aggarwal, Ca Respondent By Shri Om Parkash, Sr.Dr Date Of Hearing 22.04.2024 Date Of Pronouncement 26.04.2024

270(A) under its clause 9 specifically prescribes the cases of misreporting from sub-clause (a) to (f), which are exclusive in nature. It is only in these cases, a penalty @200% can be imposed. 9. Furthermore perusal of penalty notice u/s 270A dated 27.12.2019 would show that the penalty was initiated under the head "under- reporting of income

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 invalid BSES Rajdhani Power Ltd. & Ors vs. ACIT 50. Under the scheme of the Act, the assessing officer can initiate proceedings under section 147 of the Act only if he has "reason to believe" that any income has escaped assessment. Such belief has to be arrived at by the assessing officer on the basis of tangible/ reliable information

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 invalid BSES Rajdhani Power Ltd. & Ors vs. ACIT 50. Under the scheme of the Act, the assessing officer can initiate proceedings under section 147 of the Act only if he has "reason to believe" that any income has escaped assessment. Such belief has to be arrived at by the assessing officer on the basis of tangible/ reliable information

INCOME TAX OFFICE WARD -1 SONEPAT, SONEPAT, HARYANA vs. OM MINIRALS, DELHI

In the result, the appeal of the Revenue is dismissed and the Cross Objection of the assessee is allowed

Bench: Dr. B. R. R. Kumar, Sh. Sudhir Kumar

270(A)(2)(a). 2. That the calculation of under reported income is not done according to provision of section 270A(3)(ii) which is reproduced below: “The amount of under reported income shall be: (ii) In any other case, the difference between the amount of income assessed, recomputed and the amount of income assessed, reassessed

PR. COMMISSIONER OF INCOME TAX -7 vs. SUMITOMO CORPORATION INDIA (P) LTD.

Bench: HON'BLE MR. JUSTICE YASHWANT VARMA,HON'BLE MR. JUSTICE RAVINDER DUDEJA

270.  Said final assessment order was challenged before the ITAT, which remanded the issue of transfer pricing adjustment to the TPO and the issue of disallowance of deduction under section 10B of the Act to the AO vide order dated 27.04.2018.  In set aside proceedings, TPO passed order dated 05.01.2021 under section 92CA(3), proposing to make transfer pricing adjustment

THE PR. COMMISSIONER OF INCOME TAX -6 vs. MICROSOFT INDIA ( R & D) PVT. LTD.

Bench: HON'BLE MR. JUSTICE VIPIN SANGHI,HON'BLE MR. JUSTICE SANJEEV NARULA

270.  Said final assessment order was challenged before the ITAT, which remanded the issue of transfer pricing adjustment to the TPO and the issue of disallowance of deduction under section 10B of the Act to the AO vide order dated 27.04.2018.  In set aside proceedings, TPO passed order dated 05.01.2021 under section 92CA(3), proposing to make transfer pricing adjustment

THE PR. COMMISSIONER OF INCOME TAX -6 vs. MARUTI SUZUKI INDIA LTD.

Bench: HON'BLE MR. JUSTICE VIPIN SANGHI,HON'BLE MR. JUSTICE SANJEEV NARULA

270.  Said final assessment order was challenged before the ITAT, which remanded the issue of transfer pricing adjustment to the TPO and the issue of disallowance of deduction under section 10B of the Act to the AO vide order dated 27.04.2018.  In set aside proceedings, TPO passed order dated 05.01.2021 under section 92CA(3), proposing to make transfer pricing adjustment

ACIT, NEW DELHI vs. M/S. MEROFORM INDIA PVT LTD., NOIDA

In the result appeals filed by the revenue are dismissed and appeal filed by the assessee is partly allowed

Bench: Shri Amit Shukla & Shri L.P. Sahu

270 of 2014] (Allahabad), where Hon'ble Allahabad High Court held that Assessing Officer has power to reassess returns of assessee not only for undisclosed income found during search operation but also with regard to material available at time of original assessment. iii. CIT Vs St. Francis Clay Decor Tiles (385 ITR 624), where Hon'ble Delhi Kerala Court held

ACIT, NEW DELHI vs. M/S. MEROFORM INDIA PVT LTD., NOIDA

In the result appeals filed by the revenue are dismissed and appeal filed by the assessee is partly allowed

Bench: Shri Amit Shukla & Shri L.P. Sahu

270 of 2014] (Allahabad), where Hon'ble Allahabad High Court held that Assessing Officer has power to reassess returns of assessee not only for undisclosed income found during search operation but also with regard to material available at time of original assessment. iii. CIT Vs St. Francis Clay Decor Tiles (385 ITR 624), where Hon'ble Delhi Kerala Court held

ACIT, NEW DELHI vs. M/S. MEROFORM INDIA PVT LTD., NOIDA

In the result appeals filed by the revenue are dismissed and appeal filed by the assessee is partly allowed

Bench: Shri Amit Shukla & Shri L.P. Sahu

270 of 2014] (Allahabad), where Hon'ble Allahabad High Court held that Assessing Officer has power to reassess returns of assessee not only for undisclosed income found during search operation but also with regard to material available at time of original assessment. iii. CIT Vs St. Francis Clay Decor Tiles (385 ITR 624), where Hon'ble Delhi Kerala Court held

ACIT, NEW DELHI vs. M/S. MEROFORM INDIA PVT LTD., NOIDA

In the result appeals filed by the revenue are dismissed and appeal filed by the assessee is partly allowed

Bench: Shri Amit Shukla & Shri L.P. Sahu

270 of 2014] (Allahabad), where Hon'ble Allahabad High Court held that Assessing Officer has power to reassess returns of assessee not only for undisclosed income found during search operation but also with regard to material available at time of original assessment. iii. CIT Vs St. Francis Clay Decor Tiles (385 ITR 624), where Hon'ble Delhi Kerala Court held

ACIT, NEW DELHI vs. M/S. MEROFORM INDIA PVT LTD., NOIDA

In the result appeals filed by the revenue are dismissed and appeal filed by the assessee is partly allowed

Bench: Shri Amit Shukla & Shri L.P. Sahu

270 of 2014] (Allahabad), where Hon'ble Allahabad High Court held that Assessing Officer has power to reassess returns of assessee not only for undisclosed income found during search operation but also with regard to material available at time of original assessment. iii. CIT Vs St. Francis Clay Decor Tiles (385 ITR 624), where Hon'ble Delhi Kerala Court held

M/S. MEROFORM (INDIA) PVT. LTD.,UTTAR PRADESH vs. DCIT, NEW DELHI

In the result appeals filed by the revenue are dismissed and appeal filed by the assessee is partly allowed

Bench: Shri Amit Shukla & Shri L.P. Sahu

270 of 2014] (Allahabad), where Hon'ble Allahabad High Court held that Assessing Officer has power to reassess returns of assessee not only for undisclosed income found during search operation but also with regard to material available at time of original assessment. iii. CIT Vs St. Francis Clay Decor Tiles (385 ITR 624), where Hon'ble Delhi Kerala Court held

ACIT, NEW DELHI vs. M/S. MEROFORM INDIA PVT LTD., NOIDA

In the result appeals filed by the revenue are dismissed and appeal filed by the assessee is partly allowed

Bench: Shri Amit Shukla & Shri L.P. Sahu

270 of 2014] (Allahabad), where Hon'ble Allahabad High Court held that Assessing Officer has power to reassess returns of assessee not only for undisclosed income found during search operation but also with regard to material available at time of original assessment. iii. CIT Vs St. Francis Clay Decor Tiles (385 ITR 624), where Hon'ble Delhi Kerala Court held

LASCO CHEMIE PRIVATE LIMITED,DELHI vs. INCOME TAX OFFICER, WARD-15(2), NEW DELHI, DELHI

In the result, the appeal filed by the assessee is allowed

Bench: Shri S Rifaur Rahman & Shri Vimal Kumarlasco Chemie Private Vs. Income Tax Officer, Limited, Ward-15(2), Delhi 10489 Kalptaru, Sadar Thana Road Motia Khan, New Delhi 110055 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aabcl 3502 E Appellant .. Respondent

reassessment notice was without jurisdiction. - Ram Nebhnani HUF v. ITO: [2025] 176 taxmann.com 231 (Bombay)-Where Assessing Officer issued a reopening notice on ground that entire amount of Rs.98.04 lakhs received by assessee through Client Code Modification (CCM) was undisclosed income, since net income from buy and sell transactions amounted to only Rs. 77,280, which was less than maximum

CAIRN UK HOLDING LTD.,AHMEDABAD vs. DCIT (INTERNATIONAL TAXATION), NEW DELHI

In the result ground No. 5 of the appeal of the assessee is allowed

Bench: Shri H. S. Sidhu & Shri Prashant Maharishi

Section 148, the reassessment had been initiated without any basis and information and as such the same is liable to be quashed. Furthermore, as noted above, no new documents were discovered by the survey proceedings in January 2014 - all of the documents in question had been in the hands of the government in 2006. The reason that

M/S. CHITRAKOOT MERCHANDISE PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, both the Appeals filed by the Assessee stand allowed

Bench: Shri H.S. Sidhu & Shri O.P. Kant

reassess' to completed assessment proceedings. vi. Insofar as pending assessments are concerned, the jurisdiction to make the original assessment and the assessment under Section 153A merges into one. Only one assessment shall be made separately for each AY on the basis of the findings of the search and any other material existing or brought on the record

M/S. CHITRAKOOT MERCHANDISE PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, both the Appeals filed by the Assessee stand allowed

Bench: Shri H.S. Sidhu & Shri O.P. Kant

reassess' to completed assessment proceedings. vi. Insofar as pending assessments are concerned, the jurisdiction to make the original assessment and the assessment under Section 153A merges into one. Only one assessment shall be made separately for each AY on the basis of the findings of the search and any other material existing or brought on the record