HRY WAREHOUSING CORPORATION, vs. JOINT COMMISSIONER OF IT

Bench: MR. JUSTICE AMARINDER SINGH GREWAL,MR. JUSTICE JAGMOHAN BANSAL

Section 147 of 1961 Act. The aforesaid judgment of this Court is based upon judgment of Supreme Court in Commissioner of Income Tax Versus Kelvinator of India Limited, (2010) 320 ITR 561 (SC). Relevant extracts of the judgment read as: “10. The Commissioner of Income-tax and the Appellate Tribunal have noticed the detailed facts and recorded the finding

COMMISSIONER OF INCOME TAX-I LUDHIANA vs. M/S VERDHMAN TEXTILES LTD. LUDHIANA

Appeal is dismissed

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

10,52,040/-. Assessment under Section 143 (3) of the Income Tax Act was completed vide order dated AJAY PRASHER 2023.04.10 11:34 I attest to the accuracy and integrity of this document ITA No.315 of 2011 (O&M) -2- 30.12.2009. However, the Assessing Officer, after recording the reasons for reopening the assessment under Section 147 of the 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, some how changes the law. This argument is flawed because their Lordships' have merely reiterated that invocation of Section 147 of the Act can only be on the basis of tangible material which has come to the knowledge of the assessing officer after the assessment. SHAM SUNDER 2020.02.11 16:10

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

Reassessment proceedings were initiated under Sections 147/148 of the Income Tax Act, 1961. The respondent-assessee had made bogus purchases of Rs.4.26 crores by inflating the expenses and thereby suppressed the profits by Rs.4.26 crores for the AY 2010-2011. 4. The bogus purchases were reflected by the statements of Sh. Madan Lal Pahuja and Jatinder Kumar before the Investigating