DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

31,85,340/-. Thereafter, the case was reopened under\nSection 147 of the Act vide notice dated 16/03/2016 issued\nunder Section 148 of the Act. The assessment culminated into\npassing of the Assessment Order, dated 29/12/2017, under\nSection 143(3) read with Section 147 of the Act whereby income\nof the Assessee was determined at INR.3

THE NEW INDIA ASSURANCE CO. LTD ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -3(2)(2), MUMBAI

31,85,340/-. Thereafter, the case was reopened under\nSection 147 of the Act vide notice dated 16/03/2016 issued\nunder Section 148 of the Act. The assessment culminated into\npassing of the Assessment Order, dated 29/12/2017, under\nSection 143(3) read with Section 147 of the Act whereby income\nof the Assessee was determined at INR.3

THE TATA POWER COMPANY LTD,MUMBAI vs. PR CIT 2, MUMBAI

In the result, appeal is allowed, as indicated above

Bench: Shri Saktijit Dey () & Shri Rajesh Kumar ()

u/s 143(3) r.w.s. 144C(13) 11-12-2017 Assessment order passed under section 143(3) r.w.s. 147 of the Act 8. On a careful reading of the impugned order of learned PCIT passed under section 263 of the Act, it becomes very much clear that he has revised the assessment order passed under section 143(3) r.w.s. 147

JAIN MACHINE TOOLS ,MUMBAI vs. INCOME TAX OFFICER, WARD 26(1)(7), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh () Assessment Year: 2012-13 Jain Machine Tools, Ito, Ward 26(1)(7), 16, Meghal Industrial Estate, Room 625, 6Th Floor, Kautilya Vs. Devidayal Road, Mulund (West) Bhavan, C-41 To C-43, G Block, Mumbai-400080. Bandra Kurla Complex, Bandra (East), Mumbai-400051. Pan No. Aacfj 6163 H Appellant Respondent

section 147 of the Act, an assessment completed u/s 143(3) of the Act could be reopened beyond the completed u/s 143(3) of the Act could be reopened beyond the completed u/s 143(3) of the Act could be reopened beyond the period of four years from the end of the relevant assessment year iod of four years from

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

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

u/s 148 is to be issued.” (Emphasis Supplied) 31. From the material on record it is apparent that the Assessing Officer had initiated reassessment proceedings for the Assessment Year 2012-2013 under Section 147

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

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

u/s 148 is to be issued.” (Emphasis Supplied) 31. From the material on record it is apparent that the Assessing Officer had initiated reassessment proceedings for the Assessment Year 2012-2013 under Section 147

THE NEW INDIA ASSURANCE CO. LTD ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 3(2)(2), MUMBAI

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

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

u/s 148 is to be issued.” (Emphasis Supplied) 31. From the material on record it is apparent that the Assessing Officer had initiated reassessment proceedings for the Assessment Year 2012-2013 under Section 147

THE NEW INDIA ASSURANCE CO LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 3(2)(2), MUMBAI

Accordingly, Ground No.1 to 4 raised by the Assessee are allowed

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

u/s 148 is to be issued.” (Emphasis Supplied) 31. From the material on record it is apparent that the Assessing Officer had initiated reassessment proceedings for the Assessment Year 2012-2013 under Section 147

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

Accordingly, in terms of the aforesaid, Ground No. 3 to\n7 raised by the Assessee pertaining to merits of such\nadditions/disallowances are dismissed as having been rendered\ninfructuous

31,85,340/-. Thereafter, the case was reopened under\nSection 147 of the Act vide notice dated 16/03/2016 issued\nunder Section 148 of the Act. The assessment culminated into\npassing of the Assessment Order, dated 29/12/2017, under\nSection 143(3) read with Section 147 of the Act whereby income\nof the Assessee was determined at INR.3

THE NEW INDIA ASSURANCE CO. LTD ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(2)(2), MUMBAI

31,85,340/-. Thereafter, the case was reopened under \nSection 147 of the Act vide notice dated 16/03/2016 issued \nunder Section 148 of the Act. The assessment culminated into \npassing of the Assessment Order, dated 29/12/2017, under \nSection 143(3) read with Section 147 of the Act whereby income \nof the Assessee was determined at INR.3

MR NILESH BHARANI,MUMBAI vs. DCIT CC 4(1), MUMBAI

Bench: Shri Amit Shukla, Jm & Shri Amarjit Singh, Am आयकरअपीलसं./ I.T.A. No. 612/Mum/2020 (निर्धारणवर्ा / Assessment Year: 2011-12)

reassessment by taking recourse to the non obstante provisions of the section 153C of the Act as has been mandated w.e.f. 01/06/2015 and not by taking recourse to the provisions u/s 148 of the Act because the entire information relied therein had emanated in the income-tax searches in the premises of the share brokers / operators of the scrip

SAMBHAVANATH INFRABUILD FARMS (SUCCESSOR TO LODHA CONSTRUCTION P. LTD P. LTD.,MUMBAI vs. ASSTT. CIT, CENTRAL CIRCLE-7(3), MUMBAI

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blesambhavnath Infrabuild & Farms Pvt. Ltd., V. Asst. Cit– Central Circle – 7(3) {Successor To Lodha Construction Pvt. Ltd.,} Room No. 655, 6Th Floor 412, 4Th Floor, 17G Vardhaman Chamber Aayakar Bhavan, M.K. Road Cawasji Patel Road, Horniman Circle Mumbai - 400020 Fort, Mumbai - 400001 Pan: Aalcs1394M (Appellant) (Respondent) Assessee By : Shri Anuj Kisnadwala Department By Shri B.K. Bagchi

reassessment under section 147/148 which is not applicable to search cases. Therefore, the impugned assessment order passed u/s 143(3) r.w.s. 147 of the Income tax Act, 1961 is illegal, arbitrary and without any jurisdiction. Hence, the assessment order dated 31

SHRI AMIT MANGILAL JAIN,MUMBAI vs. ACIT, - 33(1), MUMBAI

In the result, both the above appeals are allowed

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

31 March, 2021, the Assessing Officer shall have jurisdiction to issue notice to such person to furnish the return of income as specified in the notice or assess or reassess the total income as provided by the provision. Section 153C also begins with a non-obstante clause, when it provides that notwithstanding anything contained in Section 139, Section 147, Section

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

31,85,340/-. Thereafter, the case was reopened under \nSection 147 of the Act vide notice dated 16/03/2016 issued \nunder Section 148 of the Act. The assessment culminated into \npassing of the Assessment Order, dated 29/12/2017, under \nSection 143(3) read with Section 147 of the Act whereby income \nof the Assessee was determined at INR.3

M/S. RAVI FOUNDATION ,MUMBAI vs. PR. CIT-17, MUMBAI

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

31 March 2009. Hence the exercise of the revisional jurisdiction in respect of the original order of reassessment is barred by limitation. This is sought to be obviated by the Commissioner of Income Tax by seeking to revise, under Section 263, the order dated 27 December 2007. The order dated 27 December, 2007 was passed after the assessment was reopened

THE NEW INDIA ASSURANCE CO. LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(2)(2), MUMBAI

31,85,340/-. Thereafter, the case was reopened under\nSection 147 of the Act vide notice dated 16/03/2016 issued\nunder Section 148 of the Act. The assessment culminated into\npassing of the Assessment Order, dated 29/12/2017, under\nSection 143(3) read with Section 147 of the Act whereby income\nof the Assessee was determined at INR.3

DCIT 3.2.1, MUMBAI vs. THE NEW INDIA ASSURANCE CO LIMITED, MUMBAI

31,85,340/-. Thereafter, the case was reopened under \nSection 147 of the Act vide notice dated 16/03/2016 issued \nunder Section 148 of the Act. The assessment culminated into \npassing of the Assessment Order, dated 29/12/2017, under \nSection 143(3) read with Section 147 of the Act whereby income \nof the Assessee was determined at INR.3

THE NEW INDIA ASSURANCE CO. LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -3(2)(2), MUMBAI

31,85,340/-. Thereafter, the case was reopened under\nSection 147 of the Act vide notice dated 16/03/2016 issued\nunder Section 148 of the Act. The assessment culminated into\npassing of the Assessment Order, dated 29/12/2017, under\nSection 143(3) read with Section 147 of the Act whereby income\nof the Assessee was determined at INR.3