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2 results for “reassessment”+ Section 56(2)(viia)clear

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Mumbai31Chennai15Bangalore15Jodhpur6Hyderabad2Jaipur2Ranchi1Delhi1Kolkata1Lucknow1Patna1Ahmedabad1

Key Topics

Section 14A7Section 56(2)(viia)4Section 472Section 142(1)2Section 115J2Section 802Section 143(3)2Section 2632

ASST. COMMISSIONER OF INCOME TAX, CIRCLE-10(1), HYDERABAD vs. VERTEX PROJECTS LLP (FORMERLY M/S VERTEX PROJECTS LTD) , HYDERABAD

In the result, the appeal of Revenue is partly allowed for statistical purposes

ITA 1187/HYD/2018[2014-15]Status: DisposedITAT Hyderabad28 Apr 2023AY 2014-15

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2014-15 Acit,Circle-10(1) Vs. Vertex Projects Llp Room No.515, 5Th Floor, (Formerly M/S.Vertex A-Block, I.T.Towers, Projects Ltd.) A.C.Guards, #156-159, Paigah House Hyderabad. S.P.Road, Next To Pg College. Secunderabad-500 026. Pan : Aanfv0232C (Appellant) (Respondent) Assessee By: Shri Sriram Seshadri, Ca Revenue By: Shri Rajendra Kumar,Cit-Dr Date Of Hearing: 15.03.2023 Date Of Pronouncement: 28.04.2023 O R D E R Per Shri Laliet Kumar, J.M. This Is An Appeal Filed By The Revenue, Feeling Aggrieved By The Order Passed By The Learned Commissioner Of Income Tax (Appeals)-5, Dated 16.03.2018 For The Ay 2014-15, On The Following Grounds :

For Appellant: Shri Sriram Seshadri, CAFor Respondent: Shri Rajendra Kumar,CIT-DR
Section 115JSection 142(1)Section 143(2)Section 14ASection 14A(3)Section 47
Section 56
Section 56(2)(viia)
Section 56(2)(viiia)

reassessment proceeding for AY 2012-13 were initiated and the reasons for reopening issued along with the approval under section 151 dated March 31, 2019, clearly states that reopening is done for AY 2012-13 on a substantive basis to bring to tax the impugned addition under section 56(2)(viia

MENZIES BOBBA GROUND HANDLING SERVICES PRIVATE LIMITED (NOW MERGED WITH MENZIES AVIATION BOBBA(BANGALORE)PRIVATE LIMITED),HYDERABAD vs. DCIT CIRCLE-5(1), HYDERABAD

ITA 226/HYD/2021[2015-16]Status: DisposedITAT Hyderabad09 Oct 2024AY 2015-16

Bench: Shri Manjunatha G. & Shri K.Narasimha Chary

For Appellant: Shri Sriram Seshadri, ARFor Respondent: Shri Madan Mohan Meena, DR appeared for Shri Kumar Pranav, CIT -DR
Section 115JSection 142(1)Section 143(3)Section 263Section 80

reassessment proceedings, even if one were to say that such enquiry was inadequate, the same cannot be a ground for proceedings under Section 263 of the Act. By placing reliance on the decisions reported in CIT v. Sunbeam Auto Ltd. [2011] 332 ITR 167 (Delhi HC), Spectra Shares and Scrips