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2 results for “reassessment u/s 147”+ Section 115clear

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Key Topics

Section 271(1)(c)5Section 1472Section 1152Reassessment2

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2(1), JABALPUR vs. MADHYA PRADESH POWER GENERATING CO. LTD., JABALPUR

In the result, the Revenue's appeal is dismissed as not maintainable

ITA 251/JAB/2018[2008-09]Status: DisposedITAT Jabalpur23 Feb 2022AY 2008-09

Bench: Shri Sanjay Arora, Hon’Ble & Shri Manomohan Das, Hon'Ble

For Appellant: Shri Rahul Bardia, CAFor Respondent: Shri S.K. Halder, DR
Section 115Section 143(3)Section 147Section 154Section 271(1)(c)

147 r/w s. 143(3) dated 21.3.2016. The same was further modified u/s.154 (on 11.01.2017) to bring on record the income under Minimum Alternate Tax (MAT) regime at Rs. 817.29 lacs, which income had remained unchanged. The said reassessment and modification were not challenged in appeal', attaining finality. 2.2 In the penalty proceedings, initiated on 21.3.2016, the assessee's explanation

ALOK KUMAR JAIN ,SAGAR vs. PRINCIPAL COMMISSIONER OF INCOME TAX (1) JABALPUR, JABALPUR

In the result, the appeal by the assessee is dismissed

ITA 38/JAB/2022[2014-15]Status: DisposedITAT Jabalpur08 Sept 2022AY 2014-15

Bench: Shri Sanjay Arora, Hon‟Ble & Shri Manomohan Das, Hon'Ble

For Appellant: Shri Dhiraj Ghai, FCAFor Respondent: Shri Sanjay Kumar, CIT-DR
Section 142(1)Section 144BSection 147Section 151Section 263

147 read with section 144B of the Act, dated 17/09/2021 for Assessment Year (AY) 2014-15. 2. The background of facts of the case in brief are that the assessee, who had initially filed his return of income for the relevant year at Rs. 2,28,630, was subject to reassessment on account of failure to disclose fully and truly