SH. VALMIK THAPAR,NEW DELHI vs. ACIT, NEW DELHI

Appeals are disposed of by this common order as indicated above

Bench: Hon’Ble Justice P.P. Bhatt & Shri Prashant Maharishi(Through Video Conferencing) Shri Valmik Thapar, Vs. Acit, 19, Kautilya Marg, Circle-53(1), New Delhi New Delhi (Appellant) (Respondent) Shri Valmik Thapar, Vs. Dcit, M/S. R. N. Khanna & Company, Ca, Circle-32(1), 14-15F, Shivam House, Connaught New Delhi Place, New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Acit, Vs. Shri Valmik Thapar, Circle-53(1), 19, Kautilya Marg, New Delhi New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Assessee By : Shri Salil Agarwal, Senior Advocate Along With Shri Shailesh Gupta, Shri Mahur Agarwal, Advocates Revenue By: Shri H. K. Choudhary, Cit Dr Date Of Hearing 11/06/2021 (Last Hearing) Date Of Pronouncement 11/06/2021. O R D E R Per Prashant Maharishi, A. M. 1. These Are Three Appeals For Two Assessment Years Pertaining To One Assessee, Mr. Valmik Thapar, A Resident, Individual [Assessee]. Assessee Filed Ita Number

Reassessment proceedings before AO Page 5 of 53 15. The case of the assessee was reopened by issue of notice u/s 148 of The Income Tax Act by the learned assessing officer on 1 March 2012. The learned assessing officer has recorded following reason for reopening of the assessment:- “01/03/2012:- Return declaring an income of ₹ 29,102,041/– for assessment

SHRI VALMIK THAPAR,NEW DELHI vs. DCIT, NEW DELHI

Appeals are disposed of by this common order as indicated above

Bench: Hon’Ble Justice P.P. Bhatt & Shri Prashant Maharishi(Through Video Conferencing) Shri Valmik Thapar, Vs. Acit, 19, Kautilya Marg, Circle-53(1), New Delhi New Delhi (Appellant) (Respondent) Shri Valmik Thapar, Vs. Dcit, M/S. R. N. Khanna & Company, Ca, Circle-32(1), 14-15F, Shivam House, Connaught New Delhi Place, New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Acit, Vs. Shri Valmik Thapar, Circle-53(1), 19, Kautilya Marg, New Delhi New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Assessee By : Shri Salil Agarwal, Senior Advocate Along With Shri Shailesh Gupta, Shri Mahur Agarwal, Advocates Revenue By: Shri H. K. Choudhary, Cit Dr Date Of Hearing 11/06/2021 (Last Hearing) Date Of Pronouncement 11/06/2021. O R D E R Per Prashant Maharishi, A. M. 1. These Are Three Appeals For Two Assessment Years Pertaining To One Assessee, Mr. Valmik Thapar, A Resident, Individual [Assessee]. Assessee Filed Ita Number

Reassessment proceedings before AO Page 5 of 53 15. The case of the assessee was reopened by issue of notice u/s 148 of The Income Tax Act by the learned assessing officer on 1 March 2012. The learned assessing officer has recorded following reason for reopening of the assessment:- “01/03/2012:- Return declaring an income of ₹ 29,102,041/– for assessment

BEST BULL STOCK TRADING PVT LTD.,NEW DELHI vs. ACIT CENTRAL CIRCLE-18, DELHI

In the result, the appeals of the revenue in ITA No

Bench: Sh. C.N. Prasad & Sh. M. Balaganesh

1) of the Act. 6. That on the facts & circumstances of the case and in law, the CIT(A) did not appreciate that since the assessment for the assessment year 2015-16 made under section 153A r/w 143(3) of the Act has been annulled because no incrementing material was found during search, hence, there was fundamental lack of jurisdiction

BEST BULL STOCK TRADING PVT LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE-18, NEW DELHI

In the result, the appeals of the revenue in ITA No

Bench: Sh. C.N. Prasad & Sh. M. Balaganesh

1) of the Act. 6. That on the facts & circumstances of the case and in law, the CIT(A) did not appreciate that since the assessment for the assessment year 2015-16 made under section 153A r/w 143(3) of the Act has been annulled because no incrementing material was found during search, hence, there was fundamental lack of jurisdiction

MAHARASHTRA FEEDS P. LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE, FARIDABAD

In the result, the appeals of the assessee are allowed

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

u/s 234A & 234B is hereby rejected. The assessee application on the issue of quantum of interest under section 234C is acceptable as interest under section 234C is levied on return of income filed Maharashtra Feeds P Ltd. under section 245C (1) of the Income Tax Act, 1961. Therefore, the same is rectified.” 4. Aggrieved, the assesee filed appeal before

MAHARASHTRA FEEDS P. LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE, FARIDABAD

In the result, the appeals of the assessee are allowed

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

u/s 234A & 234B is hereby rejected. The assessee application on the issue of quantum of interest under section 234C is acceptable as interest under section 234C is levied on return of income filed Maharashtra Feeds P Ltd. under section 245C (1) of the Income Tax Act, 1961. Therefore, the same is rectified.” 4. Aggrieved, the assesee filed appeal before

PROFORM INTERIORS PRIVATE LIMITED,GURGAON vs. DCIT CC-20, NEW DELHI

In the result, all the appeals for Assessment Years 2013-14 to 2022-23 in ITA

Bench: Shri Anubhav Sharma & Shri Manish Agarwalita Nos. 4153 & 4008/Del/2025 (Assessment Year: 2012-13 & 2018-19) Dcit, Proform Interiors Pvt. Ltd., Central Circle-20, Ground Floor, Jmd Regent Room No. 269A, 2Nd Floor, Vs. Plaza, Mg Road, Gurgaon, Ara Centre, Jhandewalan Haryana-122001. Extn., Delhi-110055. Pan-Aahcs5999J

147 and for the remaining two years i.e., Assessment Years 2021-22 and 2022-23 assessment orders were passed u/s 143(3) of the Act. By Finance Act 2021, section 148 has been amended and as per the new section limitation were provided in section 149 where section 149(1) (b) first proviso provided as under: “Provided that no notice

MAHESH KUMAR,DELHI vs. ITO,WARD-68(6), DELHI

In the result, Ground no. 3 as raised by the assessee deserves to be allowed and the impugned addition cannot be sustained

Bench: Justice (Retd.) C.V. Bhadang(), Shri Mahavir Singh & Shri Brajesh Kumar Singh[Assessment Year: 2012-13] Mahesh Kumar, Vs Ito, 6/305/1A, Doonger Ward-68(6), Mohalla, Delhi-110032. Delhi. Pan-Aoopk6335A Appellant Respondent Appellant By Shri Neeraj Mangla, Ca Respondent By Shri Krishna K. Ramawat, Sr. Dr Date Of Hearing 06.08.2025 Date Of Pronouncement 06.08.2025

1) thereof mandates service of notice to the assessee before the Assessing Officer proceeds to assess, reassess or recompute escaped income. Section 147 mandates recording of reasons to believe by the Assessing Officer that the income chargeable to tax has escaped assessment. All these conditions are required to be fulfilled to assess or reassess the escaped income chargeable

INCOME TAX OFFICER, WARD 3(1), DELHI, DELHI vs. ARTISTIC FINANCE PRIVATE LIMITED, DELHI

In the result, Ground no. 3 as raised by the assessee deserves to be allowed and the impugned addition cannot be sustained

Bench: Justice (Retd.) C.V. Bhadang(), Shri Mahavir Singh & Shri Brajesh Kumar Singh[Assessment Year: 2012-13] Mahesh Kumar, Vs Ito, 6/305/1A, Doonger Ward-68(6), Mohalla, Delhi-110032. Delhi. Pan-Aoopk6335A Appellant Respondent Appellant By Shri Neeraj Mangla, Ca Respondent By Shri Krishna K. Ramawat, Sr. Dr Date Of Hearing 06.08.2025 Date Of Pronouncement 06.08.2025

1) thereof mandates service of notice to the assessee before the Assessing Officer proceeds to assess, reassess or recompute escaped income. Section 147 mandates recording of reasons to believe by the Assessing Officer that the income chargeable to tax has escaped assessment. All these conditions are required to be fulfilled to assess or reassess the escaped income chargeable

DHARAMVIR KHOSLA ,. vs. DCIT CC-5, NEW DELHI , .

The appeals are allowed for statistical purposes and ld

reassessment, if any,\nrelating to any assessment year falling within the period of six assessment\nyears referred to in sub-section (1) is pending on the date of initiation of the\nsearch u/s. 132 of the Act shall abate. In the present case before us,\nhowever, though the second proviso to sub-section (1) of section 153A\nwould not apply

SMT. CHAYA SINHA,NEW DELHI vs. ACIT, FARIDABAD

In the result the appeal of the assessee is allowed

Bench: Shria.T.Varkey & Shri Prashant Maharishi

section 147 to 151 of the Income Tax Act, 1961 and reopening of the case is bad in law and beyond the jurisdiction of the Ld. A.O. and without recording valid reasons in the eyes of law and the same is barred by limitation. Page 2 of 11 2. That having regard to the facts and circumstances of the case

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

reassessment order. 7. The Revenue is in appeal before us. The following substantial question of law arises and is framed:- “Was the Tribunal right in law in holding that in the absence of any tangible material available with the Assessing Officer to form the requisite belief regarding escapement of income, the reopening of the assessement made under Section 143(1

PROFORM INTERIORS PRIVATE LIMITED,GURGAON vs. DCIT CC-20, DELHI

u/s 147 and for the remaining two\nyears i.e., Assessment Years 2021-22 and 2022-23 assessment orders were passed\nu/s 143(3) of the Act. By Finance Act 2021, section 148 has been amended and as\nper the new section limitation were provided in section 149 where section 149(1) (b)\nfirst proviso provided as under:\n“Provided that

ACIT, CIRCLE-26(2), NEW DELHI vs. VIKRAM ELECTRIC EQUIPMENT P.LTD, NEW DELHI

The appeal of the Revenue is dismissed as\ninfructuous

section-151.”\n[Emphasis has been supplied]\n\n7. Vide Cross-objection, the assessee has raised following\ngrounds;\n\n“1(i) That on the facts and circumstances of the case, the\nreasons for issued of notice u/s 148 having been recorded\nwithout application of mind and same being vague and\nsweeping, the assumption of jurisdiction u/s 147 is illegal

PROFORM INTERIORS PRIVATE LIMITED,GURGAON vs. DCIT CC-20, NEW DELHI

u/s 147 and for the remaining two\nyears i.e., Assessment Years 2021-22 and 2022-23 assessment orders were passed\nu/s 143(3) of the Act. By Finance Act 2021, section 148 has been amended and as\nper the new section limitation were provided in section 149 where section 149(1) (b)\nfirst proviso provided as under:\n“Provided that

DESIGNARCH INFRASTRUCTURE P.LTD,NEW DELHI vs. ITO, WARD-7(1), NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Sh. K. N. Charydr. B. R. R. Kumar(Through Video Conferencing) Ita No. 8199/Del/2019 : Asstt. Year : 2010-11 Designarch Infrastructure Pvt. Ltd., Vs. Income Tax Officer, L-7A(Lgf), South Extension, Part-Ii, Ward-7(1), New Delhi-110049 New Delhi-110002 (Appellant) (Respondent) Pan No. Aacfi4218C Assessee By : Sh. Raj Kumar, Ca Revenue By : Sh. Jagdish Singh, Sr. Dr Date Of Hearing: 12.10.2020 Date Of Pronouncement: 21.10.2020

u/s 148 at their disposal to come out with the details of the deposit. 15. Our above view in respect of Rs.5,00,000/- leads to examination of applicability of Explanation-3 to Section 147 of the IT Act inserted by the Finance (No. 2 of 2009) with regard to the ground no 7 of the appeal where

COMMISSIONER OF INCOME TAX, DELHI VIII vs. INDIAN FARMERS FERTILIZERS CO-OP. LTD.

The appeal stands disposed of accordingly

1 (Del) (FB) has succinctly exposited the law in following eloquent words:- “In the event it is held that by reason of section 147 if ITO exercises its jurisdiction for initiating a proceeding for reassessment only upon mere change of opinion the same may be held to be unconstitutional. We are therefore of the opinion that section 147 does

PROFORM INTERIORS PRIVATE LIMITED,GURGAON vs. DCIT CC-20, NEW DELHI

u/s 147 and for the remaining two\nyears i.e., Assessment Years 2021-22 and 2022-23 assessment orders were passed\nu/s 143(3) of the Act. By Finance Act 2021, section 148 has been amended and as\nper the new section limitation were provided in section 149 where section 149(1) (b)\nfirst proviso provided as under:\n“Provided that