DCIT, CC-2, JAIPUR vs. SHRI VIMAL CHAND SURANA(HUF), JAIPUR

In the result, the appeal of the revenue stands dismissed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

section 147of the I.T. Act, 1961.” Thus, it is clear that the basis of reopening of the assessment is the seized material found during the course of search and seizure operation in the case of Rajendra Jain Group and the statement of Shri Madan Mohan Gupta recorded u/s 132(4) and 131 of the Act. The Assessing Officer analyzed

SHRI MADHO LAL SAINI,JAIPUR vs. ITO, WARD-2(3), JAIPUR

In the result, the appeals of the assessees are allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

Reassessment pursuant to material found in search can be done through recourse to section 153C only and not by invoking the provisions of section 147/148. 1.12. The provisions of section 153C are over-riding in nature and contain non obstante clause for sections 139,147,148,149,151 and 153. 1.13. Section 147 and 153C are not interchangeable

INCOME TAX OFFICER, JAIPUR vs. KEDIA BUILDERS AND COLONIZERS PRIVATE LIMITED, JAIPUR

In the result, all appeals of the revenue are stands dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

reassessment u/s 147 of the Act was not valid and the same is quashed. The appeal on Ground No 1 to 1.3 are thus allowed. 1. In view of the above decision on Ground No 1 to 1.3, appeal on Ground No 2 to 2.4, 3, 4 and 5 have become infructuous and no further adjudication is required on merits

INCOME TAX OFFICER, JAIPUR vs. KEDIA BUILDERS AND COLONIZERS PRIVATE LIMITED, JAIPUR

In the result, all appeals of the revenue are stands dismissed

Section 147 was based on credible and\nindependently verified evidence, satisfying the legal requirements. The Hon’ble ITAT is\nrequested to uphold the reassessment and reverse the order of the CIT(A), quashing\nthe same.\nRespectfully Submitted on Behalf of the Revenue\n17. Per contra, ld. AR of the assessee supported the order of the ld.\nCIT

INCOME TAX OFFICER, JAIPUR vs. KEDIA BUILDERS AND COLONIZERS PRIVATE LIMITED, JAIPUR

In the result, all appeals of the revenue are stands dismissed

Section 147 was based on credible and\nindependently verified evidence, satisfying the legal requirements. The Hon’ble ITAT is\nrequested to uphold the reassessment and reverse the order of the CIT(A), quashing\nthe same.\n\nRespectfully Submitted on Behalf of the Revenue\n\n17. Per contra, ld. AR of the assessee supported the order of the ld.\nCIT

SHRI KALYAN BUILDMART PVT. LTD.,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeals of the assessee are allowed and appeals of the revenue are dismissed

section 147of the I.T. Act, 1961.” Thus, it is clear that the basis of reopening of the assessment is the seized material found during the course of search and seizure operation in the case of Rajendra Jain Group and the statement of Shri Madan Mohan Gupta recorded u/s 132(4) and 131 of the Act. The Assessing Officer analyzed

SHRI KALYAN BUILDMART PVT. LTD.,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeals of the assessee are allowed and appeals of the revenue are dismissed

section 147of the I.T. Act, 1961.” Thus, it is clear that the basis of reopening of the assessment is the seized material found during the course of search and seizure operation in the case of Rajendra Jain Group and the statement of Shri Madan Mohan Gupta recorded u/s 132(4) and 131 of the Act. The Assessing Officer analyzed

ACIT, JAIPUR vs. SHRI KALYAN BUILDMART PVT. LTD., JAIPUR

In the result, appeals of the assessee are allowed and appeals of the revenue are dismissed

section 147of the I.T. Act, 1961.” Thus, it is clear that the basis of reopening of the assessment is the seized material found during the course of search and seizure operation in the case of Rajendra Jain Group and the statement of Shri Madan Mohan Gupta recorded u/s 132(4) and 131 of the Act. The Assessing Officer analyzed

INCOME TAX OFFICER, JAIPUR vs. KEDIA BUILDERS AND COLONIZERS PRIVATE LIMITED, JAIPUR

Section 147 was based on credible and\nindependently verified evidence, satisfying the legal requirements. The Hon’ble ITAT is\nrequested to uphold the reassessment and reverse the order of the CIT(A), quashing\nthe same.\nRespectfully Submitted on Behalf of the Revenue\n17. Per contra, ld. AR of the assessee supported the order of the ld.\nCIT

DCIT, CENTRAL CIRCLE-2, JAIPUR vs. SHRI PRAKASH CHAND KOTHARI, JAIPUR

In the result, appeal of the assessee is allowed

reassess the income of the other person in accordance with the provisions of section 153A of the Act. 40. In the instant case, the fact that the Assessing officer has not invoked the provisions of section 153C, it shows that there was no satisfaction which has been recorded by the Assessing officer having jurisdiction over Ramesh Maniar Group that

SHRI PRAKASH CHAND KOTHARI,JAIPUR vs. DCIT, CENTRAL CIRCLE-2, JAIPUR

In the result, appeal of the assessee is allowed

reassess the income of the other person in accordance with the provisions of section 153A of the Act. 40. In the instant case, the fact that the Assessing officer has not invoked the provisions of section 153C, it shows that there was no satisfaction which has been recorded by the Assessing officer having jurisdiction over Ramesh Maniar Group that

INCOME TAX OFFICER , SIKAR vs. BHASKAR CHAUHAN, JAIPUR

In the result the appeal of the revenue in ITA no

Bench: Him.

reassessment under Sections 139,147,148,149,151 & 153. " In view of the above discussion, the assessment completed u/s 144 deserves to be quashed. The order of the Learned CIT(A) also deserved to be quashed on this ground. Additional Ground No.2 On the facts and in the circumstances of the case and in law, the Learned

DCIT, CC-1, JAIPUR vs. M/S. DANGAYACH HOTELS PRIVATE LIMITED, JAIPUR

In the result, the appeal of the Revenue is dismissed

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

WHOLE SALE CLOTH MERCHANT ASSOCIATION ,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE KOTA , KOTA

147, even though reason for notice for 'such income' which may have escaped assessment, may not survive. In the peculiar facts of this case, all the relevant information required for assessment is furnished by the assessee only after issuance of notice u/s 148 of the Income Tax act. Therefore, the notice issued u/s 148 and assumption of jurisdiction

PRAMILA AGARWAL,JAIPUR vs. THE INCOME TAX OFFICER WARD-2(5), JAIPUR

In the result, the appeal of the assessee is allowed

reassessment notice under section 148 and order disposing objections were to\nbe quashed - Held, yes [Paras 14 and 15][In favour of assesse]\n\n[2024] 168 taxmann.com 219 (Delhi - Trib.) Archit Gupta v. ACIT*\n\nSection 10(38), read with section 148, of the Income-tax Act, 1961 - Capital gains\nIncome arising from transfer of long term securities (Penny

SMT. SHEELA YOGI,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

In the result, ground no. 3 & 4 of the assessee’s appeal are allowed

Bench: Him Under Rule 46A Of The Income Tax Act, 1962. 2(I) On The Facts & Circumstances Of The Case & In Law Also Ld. Lower Authorities Grossly Erred In Initiating Reassessment Proceedings U/S 147 Of The Act.

147 of the Act. 2 Sheela Yogi, Jaipur Vs. ITO, Jaipur (ii) On the facts & circumstances of the case and in law also Ld. AO grossly erred in initiating reassessment proceedings on borrowed satisfaction only. 3. On the facts & circumstances of the case & in law also Ld Lower authorities grossly erred in making and confirming a huge addition

KOSHAL KISHOR SHARMA,JAIPUR vs. DCIT(INTL. TAX.) JAIPUR, JAIPUR

In the result, appeals of the assessee are allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

u/s. 124 was not applicable as Assessee was filling his return of income with ITO at Chennai—ITAT held that Assessee was regularly filing his returns of income at Chennai and at time of issuance of notice under Section 148, ITO at Suratgarh had no jurisdiction over Assessee—Held, High Court found no error or illegality in observations

KOSHAL KISHOR SHARMA,JAIPUR vs. DCIT(INTL. TAX), JAIPUR, JAIPUR

In the result, appeals of the assessee are allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

u/s. 124 was not applicable as Assessee was filling his return of income with ITO at Chennai—ITAT held that Assessee was regularly filing his returns of income at Chennai and at time of issuance of notice under Section 148, ITO at Suratgarh had no jurisdiction over Assessee—Held, High Court found no error or illegality in observations

SHRI BANNA LAL JAT,BHILWARA vs. ASSISTANT COMMISSIONER OF INCOME TAX, AJMER

In the result, theses appeals filed by the assessee are allowed

147 and other related sections. Thus, the assessment u/s 153A are not de novo assessments since the purpose of making the reassessments under section 153A is subject to tax, hitherto undisclosed income unearthed during the course of the search. It is for this reason that the second Shri Banna Lal Jat vs. ACIT proviso to section 153A(1) provides only