M/S. DHARAMPAL SATYAPAL LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

Bench: Shri A.T. Varkey & Shri Prashant Maharishi

3) and the notice u/s 148 was issued beyond four years, the proviso to section 147 is applicable in the present case. Further, there is no allegation in the reasons that there was any omission or failure on part of the assessee in disclosing true and full particulars of income and as such the reassessment proceedings are not in conformity

DCIT, NEW DELHI vs. M/S. DHARAMPAL SATYAPAL LTD., DELHI

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

Bench: Shri A.T. Varkey & Shri Prashant Maharishi

3) and the notice u/s 148 was issued beyond four years, the proviso to section 147 is applicable in the present case. Further, there is no allegation in the reasons that there was any omission or failure on part of the assessee in disclosing true and full particulars of income and as such the reassessment proceedings are not in conformity

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

reassessment proceedings initiated are bad-in-law and barred by limitation. Original assessment in this case was completed us 143(3) and as per proviso to section 147, no action of reopening could have been taken after the expiry of 4 years from the end of relevant assessment year. As per proviso to section 147, no action of reopening

DCIT, CC-15, NEW DELHI vs. BDR BUILDERS & DEVELOPERS P. LTD., NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Usasstt. Year: 2012-13 Dcit, Vs. Bdr Builders & Developers P. Ltd,B- Central Circle-15, 393, Zakir Nagar So, South East Delhi, New Delhi New Delhi-1100025 (Appellant) (Respondent) Pan No. Assessee By : Dr. Rakesh Gupta, Adv. Revenue By : Sh. Kanv Bali, Sr. Dr Date Of Hearing: 28.02.2023 Date Of Pronouncement: 16.03.2023

3) of the Act vide order dated 30.03.2016 at total income of Rs.47,97,827/- in respect of M/s BDR Builders & Developers Pvt. Ltd. and Rs.21,41,0964/- in respect of M/s Renu Builders & Promoters totalling Rs.69,39,791/-. Subsequently, action u/s 132 of the Act was carried out by the department in Himanshu Verma Group of cases

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

u/s. 148 of I.T. Act. Before adjudicating the issues under disputes, it is pertinent to have a look at the statutory provision of income escaping assessment as envisaged under section 147 of IT Act, which stipulate "If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject

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

u/s. 148 of I.T. Act. Before adjudicating the issues under disputes, it is pertinent to have a look at the statutory provision of income escaping assessment as envisaged under section 147 of IT Act, which stipulate "If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject

WARM FORGINGS P.LTD,NEW DELHI vs. DCIT, CIRCLE-27(1), NEW DELHI

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

Bench: Shri Challa Nagendra Prasad & Dr. B.R.R. Kumarआ.अ.सं/.I.T.A No.1148/Del/2019 िनधा"रणवष"/Assessment Year: 2010-11 बनाम Warm Forgings P. Ltd., Dcit Plot No.117 & 118, A-3, Vs. Circle 27(1), Sector-11, Rohini, New Delhi. New Delhi. Pan No.Aabcc7684C अपीलाथ" Appellant ""यथ"/Respondent

3) r.w.s. 147 of the Act and upholding the view of the Ld.CIT(A) that once reassessment proceedings are initiated on the basis of incriminating material found in the search of third party then the provisions of section 153C of the Act are applicable which exclude the application of provisions of section 147 and 148 of the Act. While holding

ADDL. CIT, NEW DELHI vs. M/S. IRCON INTERNATIONAL LTD., NEW DELHI

In the result, the appeal of the Revenue is accordingly dismissed

Bench: Shri Amit Shukla & Shri O.P. Kant[Through Video Conferencing]

reassessment u/s 143(3) r w 147 of the Act are cancelled (albeit without going into the merits of the addition of the income escaping assessment.” 2.2 Aggrieved with the finding of the Ld. CIT(A), the Revenue is in appeal before the Tribunal raising the grounds as reproduced above . 3. Before us, Ld. DR submitted that assessment has been

PROVIDENT INV. & INDUSTRIES (P) LTD.,NEW DELHI vs. ITO, NEW DELHI

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

Bench: Shri H.S.Sidhu & Shri Prashant Maharishiprovident Inv & Industries P Ltd, Vs. Ito, Ward-14(2), 4Th Floor, Ito, A-49, Mohan Cooperative Industrial Estate, Mathura Road, New Delhi Cr Building, New Delhi Pan:Aabcj4816P (Appellant) (Respondent)

147. 3(4) Notwithstanding anything contained in the foregoing provisions of this section, subsection (2) of section 153 A and sub-section (1) of section 153B, the order of assessment or reassessment, relating to any assessment year, which stands revived under sub-section (2) of section 153A, shall be made within one year from the end of the month

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.

3) r.w. section 147 as the notice u/s 143(2) of the Act was issued on the very same date when the copy of the reason was supplied to the assessee, thereby debarring the assessee to file objections to assumption of jurisdiction. The ld. Counsel submitted that recently, the coordinate Bench of the ITAT in the case

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.

3) r.w. section 147 as the notice u/s 143(2) of the Act was issued on the very same date when the copy of the reason was supplied to the assessee, thereby debarring the assessee to file objections to assumption of jurisdiction. The ld. Counsel submitted that recently, the coordinate Bench of the ITAT in the case

ACIT, CENTRAL CIRCLE-19, NEW DELHI vs. M/S K.R. PULP & PAPERS LTD,, NEW DELHI

In the result, the appeal of the Revenue is

Bench: Shri R.K. Panda & Shri N.K. Choudhry

u/s 147 of the Act were initiated by AO after expiry of four years from the end of relevant assessment year. The proviso to section 147 of the Act, as also noted by AO stipulates as under: “Provided that where an assessment under sub-section (3) of section 143 or this section has been made for the relevant assessment year

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

The appeal of the Revenue is dismissed as\ninfructuous

u/s 255(4) of the I.T.\nAct to the Hon'ble President, ITAT and the Hon'ble President vide\norder dated 17.02.2025 nominated Third Member to decide the\nreference. The Ld. Third Member vide order dated 08.08.2025\nconcurred with the view of the Judicial Member. Consequent to the\nopinion of the Third Member, cross objection of the assessee is\npartly

SMT ARTI SHARMA,GURGAON vs. ITO, GURGAON

In the result, the appeal of the assessee is dismissed

Bench: Sh. Amit Shukla & Sh. O.P. Kantassessment Year: 2010-11 Smt. Arti Sharma, Vs. Income Tax Officer, C/O- Kunal Aggarwal & Ward-3(3), Gurgaon Associates, 2Nd Floor Jmd Megapolis, Sector-48, Sohna Road, Gurgaon Pan :Bexps5432Q (Appellant) (Respondent)

reassessment in general has been provided in section 153 of the Act. For completion of the assessment under section 147, time limit has been provided in sub-section 2 of section 153 of the Act. During the relevant period, the said section provided time limit for completion of the assessment under section 147 of the Act as one 14 year

RMP HOLDING (P) LTD.,NEW DELHI vs. ITO, WARD- 20(3), NEW DELHI

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

Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2011-12 Rmp Holding (P) Ltd., Vs Ito, Shop No.9, Plot No.51, Block-C, Ward-20(3), Mahendru Enclave, Near Hans Cinema, New Delhi. New Delhi. Pan: Aaacr5533N (Appellant) (Respondent) Assessee By : Shri Suresh Gupta, Ca Revenue By : Shri M. Barnwal, Sr. Dr Date Of Hearing : 16.07.2020 Date Of Pronouncement : 31.07.2020 Order Per R.K. Panda, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 5Th August, 2019 Of The Cit(A)-7, New Delhi, Relating To Assessment Year 2011-12. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Company & Filed Its Return Of Income On 17Th August, 2011, Declaring A Loss Of Rs.20,53,019/-. The Case Was Scrutinized U/S 143(3) On 10Th March, 2014, Determining The Income At Rs.20,06,714/-. Thereafter, On The Basis Of Information Received During The Course Of Search & Seizure Operation In The Case Of Entry Provider Shri Anand Kumar Jain & Shri Naresh Kumar Jain & Subsequent Investigation That The Assessee Is A Beneficiary Of Rs.39,00,055/-, The Case Of The Assessee Was Reopened By Recording Reasons U/S 147. Subsequently, Notice U/S 148 Was Issued On 26Th March, 2018 After Obtaining Prior Approval Of The Pcit-7, New Delhi. In Response To The Same, The Assessee Filed A Letter Stating That The Return Already Filed U/S 139 May Be Treated As The Return Filed In Response To The Notice U/S 148 Of The Act. However, Another Letter Dated 7Th August, 2018 Was Issued To The Assessee Requesting Him To File The Return In Response To Notice U/S 148 Of The Act. The Assessee Ultimately Filed Its Return On 13Th August, 2018 Declaring A Loss Of Rs.4,053/-. Subsequently, The Ao Issued Notice U/S 143(2) & 142(1) Of The It Act & Copies Of The Reasons Recorded Were Also Handed Over To The Assessee.

147. Subsequently, notice u/s 148 was issued on 26th March, 2018 after obtaining prior approval of the PCIT-7, New Delhi. In response to the same, the assessee filed a letter stating that the return already filed u/s 139 may be treated as the return filed in response to the notice u/s 148 of the Act. However, another letter dated

JINDAL STEEL & POWER LTD.,DELHI vs. DCIT, GURGAON

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

Bench: Shri R. K. Panda & Smt. Beena A. Pillaiassessment Year : 2005-06 Jindal Steel & Power Ltd., Dcit, Circle- 1(1), Jindal Centre, Gurgaon. 12, Bhikaji Cama Place, Vs. Delhi.

3) of the Act. The said section 234D was held not applicable where reassessment is completed under section 147 of the Act. He also relied on the following decisions :- (i) ACIT v. Oracle India (P) Ltd.: I.T.A. No. 4639 and 4640/Del/2007 (Del Trib.). (ii) MMTC Limited vs. DCIT: ITA No.4321/Del/2009 (Del.). (iii) ACIT v. Bank of Rajasthan

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

3) of the act only test that is to be seen is whether the assessing officer has reason to believe that income has escaped the assessment order not. 46. According to the provisions of Section 147 of the income tax act, if the assessing officer has reason to believe that any income chargeable to tax has escaped 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

3) of the act only test that is to be seen is whether the assessing officer has reason to believe that income has escaped the assessment order not. 46. According to the provisions of Section 147 of the income tax act, if the assessing officer has reason to believe that any income chargeable to tax has escaped assessment