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3 results for “reassessment u/s 147”+ Section 36(1)(viia)clear

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Mumbai58Chennai33Bangalore28Kolkata8Delhi8Cochin6Jodhpur6Ahmedabad3Jaipur3Hyderabad2Guwahati1Patna1Ranchi1

Key Topics

Section 1473Section 142(1)2Section 2632Section 143(3)2Section 1482

DCIT, CENTRAL CIRCLE, AJMER vs. M/S SILVERTOSS COMMODITIES PVT. LTD., KOLKATA

The appeals of the revenue stand dismissed and the cross objections of the assessee are partly allowed

ITA 86/JPR/2022[2012-13]Status: DisposedITAT Jaipur30 Jun 2022AY 2012-13

u/s 153A r.w.s. 153B/143(3) of the Act vide order dated 30.12.2019 at total income of Rs. 43,88,06,060/- buy making an addition of Rs. 43,88,06,060/- on account of deemed income as per provisions of sec. 56(2)(viia) of the Act to the declared income of the appellant. The assessee objected to the proposed

M/S RAJASTHAN RAJYA VIDYUT PRASARAN NIGAM LTD.,VIDYUT BHAWAN, JAN PATH, JYOTI NAGAR, JAIPUR vs. DCIT, CIRCLE-6, , JAIPUR

In the result,the appeal of the assessee is partly allowed

ITA 261/JPR/2023[2015-16]Status: DisposedITAT Jaipur24 Aug 2023AY 2015-16

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri P.C. Parwal (C.A.)
For Respondent: Shri James Kurian (CIT)
Section 115JSection 142(1)Section 147

reassessment proceedings ,the AO issued notice u/s 142(1) dt.03.10.2019requiring the assessee to justify the write-off of Rs.200 crore due from Ajmer Vidyut Vitran Nigam Limited in its books of account as bad debts. He further required the assessee to provide proof of including this amount in computing the income for earlier years.In response to same, assessee filed

BARODA RAJASTHAN KHESTRIYA GRAMIN BANK,AJMER vs. PCIT, UDAIPUR

In the result, appeal of the assessee is allowed

ITA 253/JPR/2024[AY 2017-18]Status: DisposedITAT Jaipur22 Jul 2024

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Judicial Member)

For Appellant: Sh. Shailesh Mantri, CAFor Respondent: Sh. Arvind Kumar, CIT-DR
Section 142(1)Section 143(2)Section 143(3)Section 147Section 148Section 263

viia) read with Section 37 of the Income Tax Act, 1961. (e) As per CBDT Instruction No. 17/2008, it has been clearly laid down that provision of standard asset is a contingent liability and a contingent liability cannot constitute deductible expenditure for the propose of Income Tax Act (f) Further, perusal of assessment records reveals that you have claimed Rs.137.05