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दिल्ली हाईकोर्ट ने 1 अगस्त 2017 को फैसला देते हुए कहा कि आयकर छापे के दौरान धारा 132 4 में लिए गए स्टेटमेंट अपने आप में incriminating material नहीं है केवल इस आधार पर ना तो assumption of jurisdiction u/s 153 A हो सकता है और ना ही कोई एडिशन किया जा सकता है.PCIT vs.BEST INFRASTRUCTURE (INDIA) PVT. LTD. & ORS. IT-CASES-208-2020
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Friends this case is belonging to Section 132, 143(1), 153A(1) and 153C. ITAT DELHI on Jun 30, 2020 on the issue of determining the six assessment years prior to the date of search. Facts in brief are that the document of the assessee was found during search operation on dated 9.10.2014 at the premises of Shri Mulchand Malu and Shri Vikas Malu and therefore the assessee was the “other person” to be assessed u/s 153C. Further there was undisputed facts that the documents etc., were handed-over to the A.O. of the assessee was in the month of September, 2016. It was held that therefore the six assessment years prior to the date of search in the case of the assessee is A.Ys. 2011-2012 to 2016-2017. Therefore, there is no jurisdiction with the A.O. to pass assessment order for the assessment year 2009-10 and the same was held to be without jurisdiction, void abinitio and was quashed. ACIT vs. KUBER PRODUCTS PVT. LTD. AY 2009-2010. In favour of the assessee
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Section 144 r.w. Section 145(3): ITAT JAIPUR on Jun 19, 2020 held that Even if the books f accounts rejected by invoking provisions of Section 145(3) due doubt on genuineness of the purchases, the A.O. is bound to frame the assessment on best assessment as per provisions of Section 144 r.w. Section 145(3). Therefore, after rejection of books of account, the A.O. is required to estimate the income of the assessee on some reasonable and proper basis. Once the past year results have attained finality and not in dispute, the same can form the basis for estimating the GP rate for the current year. KEDIA EXPORTS PVT. LTD. & ANR. vs. ACIT. AY 2009-10, 2012-13, 2013-14 & 2014-15 Decision in favour of Assessee
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Section 263 ITAT DELHI on May 14, 2020 Issues subject to revision u/s 263 were pertaining to original assessment u/s 143(3) and not the reopened assessment u/s 147; the limitation should also start from the original assessment. In this case as original assessment order u/s 143(3) of the act was passed on 16.01.2014, the revision thereof could have been taken up to 31.3.2016. Impugned order u/s 263 of the act was passed on 26/2/2019, therefore it is clearly beyond the limitation prescribed u/s 263 (2) of the act. JINDAL STEEL & POWER LTD. vs. PCIT
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Section 148-ITAT, PUNE BENCH-11 September, 2019 held that Reassessment—Validity—only on the basis of the some reasons to believe about the escapement of income. Existence of reasons for escapement of income are sine qua non to embark upon the assessment or reassessment under section 147 of the Act. Kailash Kanhaiyalal Gidwani v. ACIT. AY 2009-10
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ITAT- Amritsar on 18 February, 2020-hold that In the light of ratio laid down by the Hon`ble Supreme Court citation 418 ITR 662 (S.C.) it is the duty of the assessee to keep upto date the address in data base of the IT Department by submitting timely prescribed application.
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What are the consequences when the notice u/s 143(2) served without examining the return filed in compliance of notice.? The answer is given by ITAT DELHI on 20 February, 2020 in the case of Ananya Portfolio (P) Ltd. v. ITO- IT-CASES-203-2020. Assessment quashed.
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ITAT BOMBAY on 13 March, 2020 hold that it is settled position of law that penalty u/s271(1)(c) cannot be levied when the additions as made by the AO was a pure estimate and nothing concrete as to bogus purchases were brought on records by the AO by making any further enquiries or investigation though the assessee failed to prove the genuineness of the alleged bogus purchases from the Hawala. ITO vs. PREMKUMAR SHEHGAL
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ITAT DELHI held on Mar 19, 2020 that the notice issued by the AO would be bad in law if it did not specify which limb of Section 271(1)(c) the penalty proceedings had been initiated under i.e. whether for concealment of particulars of income or for furnishing of inaccurate particulars of income. M/S GIRI BUILDWELL PVT LTD. vs. ITO