PR. COMMISSIONER OF INCOME TAX GURGAON vs. M/S BHARATNET TECHNOLOGY LIMITED

Appeals stands dismissed in limine

Bench: MR. JUSTICE GURMEET SINGH SANDHAWALIA,MS. JUSTICE HARPREET KAUR JEEWAN

reopen the completed unabated assessment. The relevant portion reads as under: “11. As per the provisions of Section 153A, in case of a search under Section 132 or requisition under Section 132A, the AO gets the jurisdiction to assess or reassess

M/S KAKKAR COMPLEX STEELS (P) LTDE vs. THE COMMISSIONER OF IT

Appeal is allowed and

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

reopening of the assessment order can only be exercised, where the allegations are that the deductions were wrongly allowed on account of the fact that the “assessee had failed to disclose true and full material facts necessary for deductions.” For reference, Section 147 of the Income Tax Act, 1961 is reproduced as under:- “147. Income escaping assessment If any income

THE PR COMMISSIONER OF INCOME TAX-2 CHANDIGARH vs. M/S SWARAJ ENGINES LTD MOHALI

Bench: MR. JUSTICE AJAY TEWARI,MR. JUSTICE AVNEESH JHINGAN

reassess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections

C I T vs. M/S PUNAJB STATE WAREHOUSING CORP.

Appeal is allowed, impugned order dated

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

reopen past settled cases which have attained finality. In the above said judgments it was observed that the assessment orders had been passed under Section 143(3) of the Act and therefore, proviso to Section 14-A of the Act was not attracted and provisions of Section 14-A having applicability retrospectively w.e.f. 01.04.1962 would thus be applicable

C I T vs. M/S PUNAJB STATE WAREHOUSING CORP.

Appeal is allowed, impugned order dated

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

reopen past settled cases which have attained finality. In the above said judgments it was observed that the assessment orders had been passed under Section 143(3) of the Act and therefore, proviso to Section 14-A of the Act was not attracted and provisions of Section 14-A having applicability retrospectively w.e.f. 01.04.1962 would thus be applicable

PR COMMISSIONER OF INCOME TAX-I, JALANDHAR vs. M/S SUPERTECH FORGINGS PVT LTD

Appeal is dismissed

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

assessment had been framed u/s 143(3) on 12.06.2012 and the trading results were accepted by the department during complete scrutiny. However, certain other additions were made by the AO and later on the assessee approached CIT(A) who had provided part relief of Rs.3.50 lakhs out of the DIVYANSHI 2023.09.20 12:10 I attest to the accuracy and integrity