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 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

HRY WAREHOUSING CORPORATION, vs. JOINT COMMISSIONER OF IT

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

4. The appellant was exempted from tax under Section 10(29) for the different Assessment Years including 1991-1992 on the basis of judgment of this Court in the case of appellant itself. The Assessing Officer while framing assessment under Section 143 of the assessment year 1987-1988 exempted income from all sources. 5. The Assessing Officer relying upon judgment