ACIT, NEW DELHI vs. SH. VALMIK THAPAR, 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

147 of the income tax act, 1961 initiated. Notice u/s 148 of the income tax act, 1961 is being issued.” 16. Reasons Recorded were attached with the notice u/s 148 of the act. Assessee submitted a letter dated 7 March 2012 stating that the return filed by the assessee on 26th of July 2010 may kindly be treated as return

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

147 of the income tax act, 1961 initiated. Notice u/s 148 of the income tax act, 1961 is being issued.” 16. Reasons Recorded were attached with the notice u/s 148 of the act. Assessee submitted a letter dated 7 March 2012 stating that the return filed by the assessee on 26th of July 2010 may kindly be treated as return

DCIT, NEW DELHI vs. M/S. LANDBASE INDIA LTD, NEW DELHI

In the result, cross objections of the

Bench: Shri Chandra Mohan Garg & Shri L.P. Sahu

reassessment proceedings u/s 147 of the Act and issuing notice u/s 148 of the Act against the assessee for A.Y 2001-02 beyond four years cannot be held as invalid assumption of jurisdiction and finally part conclusion 29 CO No. 328/Del/2009 & 111/2010 of the ld. CIT(A) on legal contention and objection of the assessee are upheld. Since facts

DCIT, NEW DELHI vs. M/S. LANDBASE INDIA LTD., NEW DELHI

In the result, cross objections of the

Bench: Shri Chandra Mohan Garg & Shri L.P. Sahu

reassessment proceedings u/s 147 of the Act and issuing notice u/s 148 of the Act against the assessee for A.Y 2001-02 beyond four years cannot be held as invalid assumption of jurisdiction and finally part conclusion 29 CO No. 328/Del/2009 & 111/2010 of the ld. CIT(A) on legal contention and objection of the assessee are upheld. Since facts

DCIT, CENTRAL CIRCLE 1, NEW DELHI, NEW DELHI vs. UDAI SHANKAR AWASTHI, NEW DELHI

In the result, the appeals of the revenue are dismissed

53A of the Act has held as\nunder:\n“55. Thus, on a bare perusal of the plain language of the above\nexplanation in respect of the amendment introduced in the section\n153C of the Act w.e.f 01/06/2015, we find that it mandates that in\ncase any information is found during the course of any search\nanywhere in respect

DCIT CENTRAL CIRCLE-1, NEW DELHI, NEW DELHI vs. UDAI SHANKER AWASTHI, NEW DELHI

In the result, the appeals of the revenue are dismissed

53A of the Act has held as\nunder:\n“55. Thus, on a bare perusal of the plain language of the above\nexplanation in respect of the amendment introduced in the section\n153C of the Act w.e.f 01/06/2015, we find that it mandates that in\ncase any information is found during the course of any search\nanywhere in respect

DCIT CENTRAL CIRCLE 1, NEW DELHI, NEW DELHI vs. UDAI SHANKER AWASTHI, NEW DELHI

In the result, the appeals of the revenue are dismissed

53A of the Act has held as\nunder:\n“55. Thus, on a bare perusal of the plain language of the above\nexplanation in respect of the amendment introduced in the section\n153C of the Act w.e.f 01/06/2015, we find that it mandates that in\ncase any information is found during the course of any search\nanywhere in respect

DCIT, CENTRAL CIRCLE 1, NEW DELHI, NEW DELHI vs. UDAI SHANKER AWASTHI, NEW DELHI

In the result, the appeals of the revenue are dismissed

53A of the Act has held as\nunder:\n“55. Thus, on a bare perusal of the plain language of the above\nexplanation in respect of the amendment introduced in the section\n153C of the Act w.e.f 01/06/2015, we find that it mandates that in\ncase any information is found during the course of any search\nanywhere in respect

DCIT CENTRAL CIRCLE 1, NEW DELHI, NEW DELHI vs. UDAI SHANKER AWASTHI, NEW DELHI

In the result, the appeals of the revenue are dismissed

53A of the Act has held as\nunder:\n“55. Thus, on a bare perusal of the plain language of the above\nexplanation in respect of the amendment introduced in the section\n153C of the Act w.e.f 01/06/2015, we find that it mandates that in\ncase any information is found during the course of any search\nanywhere in respect

M/S. LAIRY DISTRIBUTORS PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the appeals of the assessees stand allowed on legal grounds Nos

Bench: Shri Chandra Mohan Garg & Shri L.P. Sahu

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 132A after the 31st day of May, 2003, the Assessing Officer shall - (a) issue notice to such person requiring him to furnish within

ANAND KUMAR JAIN,FARIDABAD vs. DCIT, CENTRAL CIRCLE-25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that, - (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, a person other than

SATISH DEV JAIN,DELHI vs. DCIT, CENTRAL CIRCLE-25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that, - (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, a person other than

ANAND KUMAR JAIN,NEW DELHI vs. DCIT, CENTRAL CIRCLE- 25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that, - (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, a person other than

ANAND KUMAR JAIN,NEW DELHI vs. DCIT, CENTRAL CIRCLE- 25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that, - (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, a person other than

ANAND JAIN HUF,NEW DELHI vs. DCIT, CENTRAL CIRCLE- 25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that, - (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, a person other than

ANAND JAIN HUF,NEW DELHI vs. DCIT, CENTRAL CIRCLE- 25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that, - (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, a person other than

SAJAN KUMAR JAIN,DELHI vs. DCIT,CENTRAL CIRCLE-25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that, - (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, a person other than

M/S. J.R. MODI FINANCE (P) LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, appeal filed by the assessee stands allowed

Bench: Shri C. M. Garg & Shri L. P. Sahu

reassessment and as such the provisions of section 153A of the IT Act which are parallel to provision u/s 153C of IT Act are to be considered in the context of purpose, object and scheme of IT Act. This legal proposition is also held in various decided cases on the subject. The assessment in this case may kindly be made

RAJEEV BHEL,DELHI vs. DCIT, NEW DELHI

In the result, assessee’s appeals for AY 2007-08, 2008-09, 2009-10,

Bench: Shri S.V. Mehrotra : & Shri C.M. Garg :

147, 148, 151 and 153, has been taken note of in Anil Kumar Bhatia (supra). It is also relevant that section 153A refers to the determination of the 'total income', which is defined in sub section (45) of section 2 of the Income Tax Act thus: "total income" means the total amount of income referred to in section 5,computed