RAMAKANT SHARMA,JAIPUR vs. ITO, JAIPUR

In the result, appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 264/Jp/2017 Assessment Year: 2007-08 Shri Ramakant Sharma, Cuke I.T.O., Vs. S/O- Shri Ramesh Chand Sharma, 1 Ward-3(5), Vimal Kunaj, Vidyut Nagar, Behind Jaipur. Bharat Petrol Pump, Jaipur. Pan No.: Bjrps 5130 A Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Vedant Agarwal (Adv) & Shri Satish Gupta (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri Ambrish Bedi (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 26/11/2020 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 07/12/2020 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of The Ld. Cit(A)-1, Jaipur Dated 05/12/2016 For The A.Y. 2007-08. Following Grounds Have Been Taken By The Assessee: “1. 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. 2. On The Facts & Circumstances Of The Case & In Law Also Ld. A.O. Grossly Erred In Resuming Jurisdiction Without Serving Notice U/S 148 On The Appellant Assessee As Notice Issued U/S 148 Was Not Served On The Appellant.

iii) served upon him in an improper manner. In other words, once the deeming fiction comes into operation, the assessee is precluded from raising a challenge about the service of a notice, service within time or service in an improper manner. The proviso to section 292BB of the Act, however, carves out an exception to the effect that the section

M/S. RAJDHANI CRAFTS,JAIPUR vs. ACIT, CIRCLE-4 JAIPUR

In the result, this appeal of the assessee is allowed

iii) Decision of the Coordinate Bench of this Tribunal dated 23/12/2019 passed in ITA No. 347/JP/2017 in the case of M/s Mangala Ispat (Jaipur) Ltd. Vs ACIT. Thus, the ld. AR has submitted that in view of the above decisions, the impugned assessment order is invalid and liable to be quashed. 5. On the other hand

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)

14. In addition, ld. DR on 23.01.2025 also filed a detailed written submission which reads as under; Respected Members of the Hon’ble Tribunal, The following submission is presented on behalf of the Revenue in the case of Kadia Builders and Colonizers P. Ltd. regarding the validity of reassessment initiated under Section 148 of the Income

KAMLA DEVI SHARMA,JAIPUR vs. ITO, JAIPUR

In the result, appeal of the assessee is allowed

Bench: The Itat By Taking Following

iii) served upon him in an improper manner. In other words, once the deeming fiction comes into operation, the assessee is precluded from raising a challenge about the service of a notice, service within time or service in an improper manner. The proviso to section 292BB of the Act, however, carves out an exception to the effect that the section

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

iii) Sh Vimal Chand Surana & (iv) Sh Kushal Chand Surana. Further, no addition is also required to be made on protective basis in the hands of Sh Madan Mohan Gupta. 5 ITA Nos. 152, 153/JP/18 & 517, 518/JP/17. Shri Kalyan Buildmart Pvt. Ltd., Jaipur. As issue of the quantum has been decided in favour of the assessee, the issue pertaining

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

iii) Sh Vimal Chand Surana & (iv) Sh Kushal Chand Surana. Further, no addition is also required to be made on protective basis in the hands of Sh Madan Mohan Gupta. 5 ITA Nos. 152, 153/JP/18 & 517, 518/JP/17. Shri Kalyan Buildmart Pvt. Ltd., Jaipur. As issue of the quantum has been decided in favour of the assessee, the issue pertaining

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

iii) Sh Vimal Chand Surana & (iv) Sh Kushal Chand Surana. Further, no addition is also required to be made on protective basis in the hands of Sh Madan Mohan Gupta. 5 ITA Nos. 152, 153/JP/18 & 517, 518/JP/17. Shri Kalyan Buildmart Pvt. Ltd., Jaipur. As issue of the quantum has been decided in favour of the assessee, the issue pertaining

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

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

14] Il is also to be noted that by issuing subsequent notice, the ITO has sought\nfurther information from the petitioner which information does not form the basis of\nthe reasons assigned for re-opening the proceedings. This is clear from the notice\ndated 24/8/2021. The Division Bench in Nivi Trading Limited (supra) has held that if\nfurther details

ACIT, ALWAR vs. M/S PRIME CHEM OIL LTD.,, ALWAR

iii) the Assessing Officer may assess or reassess such income, which he has reason to believe, has escaped assessment and also any other income ACIT Vs M/s Prime Chem Oil Ltd., Alwar chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under the section; and (iv) though the notice

SHRI GOVIND NARAIN JOHARI,JAIPUR vs. DCIT, CENTRAL CIRCLE-3, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: Although The Second Round Of Assessment Was Completed At The Directions Of Hon’Ble Itat.

147/- out of interest and bank charges without considering the submissions made and evidences adduced before him, thus disallowance so made needs to deleted. 5. On the facts and circumstances of the case, the ld. CIT (A) has grossly erred in confirming the disallowance made ld. AO of Rs. 22,47,127/- on account of interest paid on loan taken

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SNEHLATA AGARWAL, SIKAR

In the result, the appeals of the revenue in ITA No

u/s 153A cannot be\nsustained and is hereby deleted as the same is without basis of incriminating\nmaterial unearthed during the search action on the appellant and impugned\naddition could have been done by the learned assessing officer in re-assessment\nproceedings by issuance of notice under section 147/148. The Id. AO is directed\nto take necessary action in this

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

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

u/s 148 of the Act on\n28/03/2019 merely as a process of review, the reassessment is not legally invalid. The\nappellant relied on various judicial decisions that the AO cannot reopen concluded\nassessment merely to re-examine any transaction for non-application of his mind on the\nmaterials already with him.\n\n5.13 The Hon’ble Supreme Court

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

14] Il is also to be noted that by issuing subsequent notice, the ITO has sought\nfurther information from the petitioner which information does not form the basis of\nthe reasons assigned for re-opening the proceedings. This is clear from the notice\ndated 24/8/2021. The Division Bench in Nivi Trading Limited (supra) has held that if\nfurther details

SH. KAPIL TANEJA,JAIPUR vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

iii) issue a notice under section 148 if it was a fit case for reassessment. Once the clock started ticking, the assessing officer was required to complete these procedures within the surviving time limit. The surviving time limit, as prescribed under the Income-tax Act read with TOLA, was available to the assessing officers to issue the reassessment notices under

SAVITA GUPTA,KOTA vs. ITO, DELHI

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

14. In the present case, the assessments were completed/unabated on the date of receipt of information from the Investigation Wing on 12.03.2013 and documents/material was found and seized during the course of search and seizure operation therefore the only action to be taken by the Assessing Officer was available u/s. 153C of the Act and he was not entitle

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. USHA BANKA, SIKAR

In the result, the appeals of the revenue in ITA No

u/s 153A cannot be sustained\nand is hereby deleted as the same is without basis of incriminating material\nunearthed during the search action on the appellant and impugned addition could\nhave been done by the learned assessing officer in re-assessment proceedings by\nissuance of notice under section 147/148. The Id. AO is directed to take necessary\naction in this

DCIT, CENTRAL CIRCLE-1, JAIPUR , JAIPUR vs. USHA BANKA, SIKAR

In the result, the appeals of the revenue in ITA No

u/s 153A cannot be\nsustained and is hereby deleted as the same is without basis of incriminating\nmaterial unearthed during the search action on the appellant and impugned addition could\nhave been done by the learned assessing officer in re-assessment proceedings by\nissuance of notice under section 147/148. The Id. AO is directed to take necessary\naction in this

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SUBHASH CHANDRA BANKA, SIKAR

In the result, the appeals of the revenue in ITA No

u/s 153A cannot be sustained\nand is hereby deleted as the same is without basis of incriminating material\nunearthed during the search action on the appellant and impugned addition could\nhave been done by the learned assessing officer in re-assessment proceedings by\nissuance of notice under section 147/148. The Id. AO is directed to take necessary\naction in this