INCOME TAX OFFICER-26(2)(1), MUMBAI vs. SAI PRERANA CO-OP CREDIT SOCIETY LTD., MUMBAI

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

148 of the Act as also the order of assessment dated 30th March, 2022 passed under order of assessment dated 30th March, 2022 passed under order of assessment dated 30th March, 2022 passed under Section 147 r/w Section 144B of the Act are set aside. Section 147 r/w Section 144B of the Act are set aside. Section 147 r/w Section

ITO-26(2)(1) , MUMBAI vs. SAI PRERANA CO-OP CREDIT SOCIETY LTD, MUMBAI

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

148 of the Act as also the order of assessment dated 30th March, 2022 passed under order of assessment dated 30th March, 2022 passed under order of assessment dated 30th March, 2022 passed under Section 147 r/w Section 144B of the Act are set aside. Section 147 r/w Section 144B of the Act are set aside. Section 147 r/w Section

ITO-26(2)(1), MUMBAI vs. SAI PRERANA CO-OP CREDIT SOCIETY LTD, MUMBAI

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

148 of the Act as also the order of assessment dated 30th March, 2022 passed under order of assessment dated 30th March, 2022 passed under order of assessment dated 30th March, 2022 passed under Section 147 r/w Section 144B of the Act are set aside. Section 147 r/w Section 144B of the Act are set aside. Section 147 r/w Section

INCOME TAX OFFICER-26(2)(1), MUMBAI vs. SAI PRERANA CO-OP CREDIT SOCIETY LTD., MUMBAI

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

148 of the Act as also the order of assessment dated 30th March, 2022 passed under order of assessment dated 30th March, 2022 passed under order of assessment dated 30th March, 2022 passed under Section 147 r/w Section 144B of the Act are set aside. Section 147 r/w Section 144B of the Act are set aside. Section 147 r/w Section

SAI PRERNA CO-OP. CREDIT SOCIETY LTD,MUMBAI vs. ITO WD 17(3) (2) , MUMBAI

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

148 of the Act as also the order of assessment dated 30th March, 2022 passed under order of assessment dated 30th March, 2022 passed under order of assessment dated 30th March, 2022 passed under Section 147 r/w Section 144B of the Act are set aside. Section 147 r/w Section 144B of the Act are set aside. Section 147 r/w Section

SAI PRERNA CO-OP. CREDIT SOCIETY LTD,MUMBAI vs. ITO WD 17(3) (2) , MUMBAI

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

148 of the Act as also the order of assessment dated 30th March, 2022 passed under order of assessment dated 30th March, 2022 passed under order of assessment dated 30th March, 2022 passed under Section 147 r/w Section 144B of the Act are set aside. Section 147 r/w Section 144B of the Act are set aside. Section 147 r/w Section

SAI PRERNA CO-OP. CREDIT SOCIETY LTD,MUMBAI vs. ITO WD 17(3) (2) , MUMBAI

In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are In the result, appeals of the assessee and the Revenue are decided as under:

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 217, 220 & 221, 218 & 219, 215, 214/Mum/2023 Assessment Years: 2013-14, 2016-17, 2017-18, 2018-19, 2020-21 Sai Prerana Co-Op Credit Ito-17(3)(2), Society Ltd., Room No. 126, 1St Floor, Vs. 317, Puran Aasha Bldg, Gr. Fl. Kautilya Bhavan, C-41 To C- Narashi Natha Street, Katha 43, G Block Bandra Kurla Bazar Masjid Bunder (W), Complex, Bandra (East), Mumbai-400 009. Mumbai-400051. Pan No. Aadts 5638 M Appellant Respondent

148 of the Act as also the order of assessment dated 30th March, 2022 passed under order of assessment dated 30th March, 2022 passed under order of assessment dated 30th March, 2022 passed under Section 147 r/w Section 144B of the Act are set aside. Section 147 r/w Section 144B of the Act are set aside. Section 147 r/w Section

ASSISTANT COMMISSIONER OF INCOME TAX, KAUTILYA BHAWAN vs. JAJ INTERNATIONAL, MUMBAI

In the result, the grounds relating to merit the file of the Ld

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

148 of the Act and proceedings under section 147 of the Act by the AO are illegal and void ab under section 147 of the Act by the AO are illegal and void ab under section 147 of the Act by the AO are illegal and void ab initio. In view of the provisions of section 153C

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE- 41(1)(1), MUMBAI, KAUTILYA BHAWAN, BKC vs. JAJ INTERNATIONAL, MUMBAI

In the result, the grounds relating to merit the file of the Ld

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

148 of the Act and proceedings under section 147 of the Act by the AO are illegal and void ab under section 147 of the Act by the AO are illegal and void ab under section 147 of the Act by the AO are illegal and void ab initio. In view of the provisions of section 153C

M/S. BIOBUILD DEVELOPERS ,MUMBAI vs. INCOME TAX OFFICER WARD 24(1)(3), MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

reassess the income in respect of any issue, which has escaped assessment, and such issue comes to his notice subsequently in the course of the proceedings under this section, notwithstanding that the reasons for such issue have not been included in the reasons recorded under sub-section (2) of section 148

SHAILESH ASALRAJ JAIN,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX, MUMBAI 20, MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2018-19

Section 263 of the I.T. Act, 1961 without appreciating and inspite of the fact that the reassessment proceeding u/s 148 and inspite of the fact that the reassessment proceeding u/s 148 and inspite of the fact that the reassessment proceeding u/s 148 of the Act undertaken in the case of Appellant itself is bad in law, dertaken in the case

SHIVRAM S SHETTY,MUMBAI vs. INCOME TAX OFFICER WARD 2(1), THANE

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

148 of the Income Tax Act was not properly sanctioned by the competent authority as required by Section 151(2) of the Act. It was also found that the notice was barred by limitation. Consequently, the reassessment

SHIVRAM S SHETTY ,MUMBAI vs. INCOME TAX OFFICER WARD 2(1), MUMBAI

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

reassessment notice under Section 148;\nd. The TOLA would extend the time limit for the grant of sanction by the authority\nspecified under Section 151. The test to determine whether the TOLA would apply\nto Section 151 of the new regime is that: if the time limit of three years from the\nend of an assessment year falls between 20/3/2020

NISHA THOMAS,MUMBAI vs. COMMISSIONER OF INCOME TAX (A)-DRP-2 , MUMBAI

In the result, the appeal is allowed

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

reassessment or recomputation, as the case may be.] (2) The provisions of sub-section (1) as to the issue of notice shall be subject to the provisions of section 151.] The first proviso to Section 149 of the Act provides that no notice under section 148

INCOME TAX OFFICER (IT)-3(2)(1), KAUTILYA BHAWAN vs. SHAPOORJI PALLONJI MISTRY, MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Amit Shukla & Shri Girish Agrawal

2. The learned Assessing Officer erred in issuing notices for reassessment proceedings under Section 148A, conducting the reassessment under Sections 148A and 148

LIC HOUSING FINANCE LIMITED,MUMBAI vs. ACIT 2(2)(1), MUMBAI, AAYKAR BHAVAN, MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2017-18

reassessment proceedings as well as the disallowance on merits. The learned CIT(A), however, upheld the reopening, invoking The learned CIT(A), however, upheld the reopening, invoking The learned CIT(A), however, upheld the reopening, invoking Explanation 1 to section 148 and opining that audit objections Explanation 1 to section 148 and opining that audit objections Explanation 1 to section

SHANTILAL NAROTTAMDAS PANCHAL,MALAD EAST vs. ITO-41(3)(4), MUMBAI, BANDRA KURLA COMPLEX

Appeal is allowed

Bench: Him.

reassessment proceedings contending that the approval/sanction obtained under Section 151 of the Act was not valid. In this regard, primary contention advanced on behalf of the Assessee is that in the present case for Assessment Year 2017-2018, the notice under Section 148 and order under Section 148A(d) have been issued on 21/07/2022, which is beyond the period

CHEMOX EXPORTS IMPORTS PVT LTD,MUMBAI vs. INCOME TAX DEPARTMENT, ASSESSMENT UNIT, DELHI

2) of Section 151A of the\nAct, CBDT issued a notification dated 29th March, 2022 [Notification No.\n18/2022/F. No. 370142/16/2022-TPL and formulated a Scheme. The Scheme\nprovides that -\n(a) the assessment, reassessment or recomputation under section 147 of\nthe Act,\n(b) and the issuance of notice under section 148