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2 results for “reassessment u/s 147”+ Section 171clear

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Key Topics

Section 2634Section 403Section 1483Section 1472Section 143(3)2Section 143(2)2Disallowance2

KISHORI CAPITAL MARKETS PVT. LTD.,BBD BAGH (EAST) vs. ITO WARD 2(1), PATNA, LOK NAYAK BHAWAN

In the result, the appeal filed by the assessee is allowed

ITA 249/PAT/2023[2015-16]Status: DisposedITAT Patna06 Nov 2024AY 2015-16

Bench: Sri Rajesh Kumar & Pradip Kumar Choubey

Section 143(2)Section 143(3)Section 147Section 148Section 14ASection 250

u/s 148 of the Act for the AY 2015-16 was issued on 31.03.2021 by the office of the ITO, Ward-2(1), Patna that is after four years. 2.2. Now, we have gone through the judgments cited by the assessee in this context which are as follows: a) Kolkata ITAT - Rungta Irrigation Ltd vs ACIT - ITA no. 1224/Kol/2019

DEEPAK SHRAWAN BUDHIA,MUMBAI vs. PR. COMMISSIONER OF I.T., PATNA-1, PATNA

In the result, appeal of the assessee is dismissed

ITA 365/PAT/2025[2018-19]Status: DisposedITAT Patna19 Jan 2026AY 2018-19

Bench: SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER SHRI SONJOY SARMA (Judicial Member)

Section 147Section 263Section 40

171 (SC) the hon’ble Apex Court has observed that in case of not filling appeal within the specified period and the appellant had “reasonable cause” then the delay may be condoned. The same judgment was also relied by the assessee. We condone the delay and taking up for adjudication. 4. Briefly stated the facts of the case are that