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Section 147,148, 151 Consequences when the A.O. mentioned wrong Section, wrong facts in the reasons for reopening of the assessment and acted in a mechanical manner without application of mind. ITAT Delhi in the case of Maheshwari Roller Flour Mills Pvt … vs Ito on 17 December, 2020 AY 2009-10. In favour of assessee. ITA.No.4257/Del./2019.
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Section 147,148, 151. Consequences when the Ld. AO failed to provide the complete Annexures which are the basis for reopening ? The ITAT Delhi passed the order on 15 January, 2020 in the case of Behat Holdings Ltd., New Delhi vs Ito Ward-4(3), New Delhi Order in the favour of the assessee. ITA.No.8066/Del./2019.
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What are the consequences if Notice u/s 148 is issued before approval under section 151(1)? ITAT Ahmedabad passed the order on 4 June, 2021. in the case of OMPRAKASH KANAYALAL SHAH vs. ITO Section 147,148,151(1). https://www.bpmundraca.com/it-cases-243-2021/
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Section 69: NO ADDITION CAN BE MADE ONLY ON THE BASIS OF INFORMATION RECEIVED When affidavit is filed and statement on oath is submitted by the assessee unless proved otherwise. ITAT- Mumbai. Shri Mohan Thakur, Mumbai vs A.C.I.T. Cent. Cir. 8(4), Mumbai on 24 May, 2021. https://www.bpmundraca.com/it-cases-242-2021/
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Consequences when the Assessing Officer was not specific as to on what basis the Assessing Officer has the reason to believe that the income of the assessee has escaped assessment. Answer was given in the case of DUGGAL ESTATES PVT. LTD. & ANR. vs. ITO ITAT DELHI, May 24, 2021, Section 147, 148 AY 2009-10. https://www.bpmundraca.com/it-cases-241-2021/
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The question in the present case is as to whether the information received from the investigation wing/search team would constitute ‘reason to believe’ empowering the Assessing Officer to reopen the assessment u/s 147/148. Answer is given by ITAT Ahmedabad on 12/11/2020 in the case of Hitesh Ashok Vaswani Vs DCIT. https://www.bpmundraca.com/it-cases-240-2021/
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Can Ld. AO disallow the certain percentages of expenses when the expenses are supported only by self made vouchers and AR agreed to disallowance without pointing out any specific instances of unverifiable element therein? ITAT Kolkata decided on Apr 28, 2021. Section 143(3). Kindly click the link to get the order. https://www.bpmundraca.com/it-cases-239-2021/
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To take the benefit of section 54F, unutilized portion of the capital gain on the sale of property used for residence should be deposited before the date of furnishing the return of tax under Section 139 as mentioned in section 54(2). Therefore, Section 139 cannot be confined only to the provisions of the Section 139(1), but it includes all the sub section of Section 139. In the case of DIPAL SURESHBHAI PATEL vs. INCOME TAX OFFICER. ITAT AHMEDABAD on Apr 15, 2021. Section 54F, 139, 143(3), 54(2). In favour of the assessee. Ca BPMUNDRA
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Writ petition filed for quashing and setting aside of show cause Notice is dismissed since Neither it is a case of lack of jurisdiction nor any violation of principles of natural justice is alleged so as to entertain the writ petition at the stage of notice and also when opportunity of filing reply personal / hearing was available. In the case of GENUS POWER INFRASTRUCTURE LTD. vs. CENTRAL GOODS AND SERVICE TAX by HIGH COURT OF RAJASTHAN S.B. Civil Writ Petition No. 185/2021 on dated Mar 3, 2021
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Section 56(2)(vii)(b) When purchase transactions of immovable property were carried out in FY 2011-12 for which full consideration was also parted with the seller. Mere registration at later date would not cover a transaction in AY 2014-15 already executed in the earlier years. The Revenue is debarred. ITAT- Ranchi in the case of Bajrang Lal Naredi, Ranchi vs Ito,Ward-1(3), Jamshedpur on 20 January, 2020