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Documents citing Priyanka Mundhra , Kolkata vs Ito, Ward - 44(4), Kolkata , Kolkata on 14 November, 2018

M/S Baba Vishwanath Gramodyog Sewa ... vs Astt. Commissioner Of Income Tax-1, ... on 22 February, 2019

3. We have heard the rival parties and have gone through the material placed on record and the contents of the Misc. Application. We find that against the dismissal of its Misc. Application, the assessee has again filed the Misc. Application whereby it has challenged the dismissal of Misc. Application by the Hon'ble Tribunal and has requested for its recall. However, we find that Special Bench of Hon'ble Delhi Tribunal in the case of Padam Prakash (HUF) vs. Income Tax Officer [2011] 136 TTJ (Del) 257, while dealing with the maintainability of Misc. Application for rectification of earlier order u/s 254(2) has held as under:
Income Tax Appellate Tribunal - Lucknow Cites 5 - Cited by 0 - Full Document

Ankit Gupta, Kolkata vs Principal Commissioner Of Income Tax, ... on 30 April, 2021

8. The Assessing Officer in the impugned order passed u/s 143(3) of the Act on 27/07/2016, clearly stated that he has examined the claim of the assessee that he has derived income from long term ccapital apital gains. The Assessing Officer issued notice u/s 133(6) of the Act to M/s. Dynamic Equities Pvt. Ltd. for verification of the said transactions of sale of shares. The replies received confirmed the transactions. The assessee has filed contract notes, copies of the bank statements, copies of ledger accounts and D-Mat Mat details before the Assessing Officer. The Assessing Officer records that the transactions were made through proper banking channels and no discrepancies were found. Thus, it is evident that the Assessing Officer has conducted independent enquiries, verified the documents filed by the assessee and thereafter took a view that the transactions of sale and purchase of shares were genuine. This view of the Assessing Officer is supported by a numb number of decisions of the ITAT, including the decisions in the case of Aruna Bansal vs. ITO in ITA No. 976/Kol/2018, order dt. 08/11/2018 and the order of the Jaipur Bench of the Tribunal in the case of DCIT vs. Sourabh Mittal in ITA No. 16/JP/2018, order dt. 29/08/2018, etc.
Income Tax Appellate Tribunal - Kolkata Cites 34 - Cited by 0 - Full Document

Pradeep Kumar, Jhujhunu vs Ito Ward -2, Jhujhunu on 11 January, 2023

(i) In the case of Vikram Singh vs. Income Tax Officer (2021) 63 CCH 0044 Lucknow Trib Reassessment--Escapement of income--Case of assessee was reopened u/s. 147 for deposits in bank amounting Rs.11,00,000--Held, Bombay High Court in case of CIT vs. Jet Airways (I) Ltd., 331 ITR 236 has held that sec. 147 has this effect that AO has to assess or reassess income ("such income") which escaped assessment and which was basis of formation of belief and if he does so, he can also assess or reassess any other income which has escaped assessment and which, comes to his notice during course of proceedings--However, if after issuing a notice under s. 148, he accepted contention of assessee and holds that income which he has initially formed a reason to believe had escaped assessment, has as a matter of fact not escaped assessment, it is not open to him independently to assess some other income--If he intends to do so, a fresh notice under s. 148 would be necessary, legality of which would be tested in event of a challenge by assessee--In view of above facts and circumstances and in view of judicial precedent--Assessee's ground allowed.
Income Tax Appellate Tribunal - Jaipur Cites 17 - Cited by 0 - Full Document

Institute Management Committee Iti ... vs Ito Ward Jhalawar, Jhalawar on 5 May, 2025

(i) In the case of Vikram Singh vs. Income Tax Officer (2021) 63 CCH 0044 Lucknow Trib Reassessment--Escapement of income--Case of assessee was reopened u/s. 147 for deposits in bank amounting Rs.11,00,000--Held, Bombay High Court in case of CIT vs. Jet Airways (I) Ltd., 331 ITR 236 has held that sec. 147 has this effect that AO has to assess or reassess income ("such income") which escaped assessment and which was basis of formation of belief and if he does so, he can also assess or reassess any other income which has escaped assessment and which, comes to his notice during course of proceedings-- However, if after issuing a notice under s. 148, he accepted contention of assessee and holds that income which he has initially formed a reason to believe had escaped assessment, has as a matter of fact not escaped assessment, it is not open to him independently to assess some other income--If he intends to do so, a fresh notice under s. 148 would be necessary, legality of which would be tested in event of a challenge by assessee--In view of above facts and circumstances and in view of judicial precedent--Assessee's ground allowed.
Income Tax Appellate Tribunal - Jaipur Cites 70 - Cited by 0 - Full Document

Institute Management Committee Iti ... vs Ito Ward Jhalawar, Jhalawar on 5 May, 2025

(i) In the case of Vikram Singh vs. Income Tax Officer (2021) 63 CCH 0044 Lucknow Trib Reassessment--Escapement of income--Case of assessee was reopened u/s. 147 for deposits in bank amounting Rs.11,00,000--Held, Bombay High Court in case of CIT vs. Jet Airways (I) Ltd., 331 ITR 236 has held that sec. 147 has this effect that AO has to assess or reassess income ("such income") which escaped assessment and which was basis of formation of belief and if he does so, he can also assess or reassess any other income which has escaped assessment and which, comes to his notice during course of proceedings-- However, if after issuing a notice under s. 148, he accepted contention of assessee and holds that income which he has initially formed a reason to believe had escaped assessment, has as a matter of fact not escaped assessment, it is not open to him independently to assess some other income--If he intends to do so, a fresh notice under s. 148 would be necessary, legality of which would be tested in event of a challenge by assessee--In view of above facts and circumstances and in view of judicial precedent--Assessee's ground allowed.
Income Tax Appellate Tribunal - Jaipur Cites 70 - Cited by 0 - Full Document

Rama Shanker Pareek,Jaipur vs Income Tax Officer, Ward No. 7(2), ... on 24 June, 2025

(i) In the case of Vikram Singh vs. Income Tax Officer (2021) 63 CCH 0044 Lucknow TribReassessment--Escapement of income--Case of assessee was reopened u/s. 147 for deposits in bank amounting Rs.11,00,000--Held, Bombay High Court in case of CIT vs. Jet Airways (I) Ltd., 331 ITR 236 has held that sec. 147 has this effect that AO has to assess or reassess income ("such income") which escaped assessment and which was basis of formation of belief and if he does so, he can also assess or reassess any other income which has escaped assessment and which, comes to his notice during course of proceedings-- However, if after issuing a notice under s. 148, he accepted contention of assessee and holds that income which he has initially formed a reason to believe had escaped assessment, has as a matter of fact not escaped assessment, it is not open to him independently to assess some other income--If he intends to do so, a fresh notice under s. 148 would be necessary, legality of which would be tested in event of a challenge by assessee--In view of above facts and circumstances and in view of judicial precedent--Assessee's ground allowed.
Income Tax Appellate Tribunal - Jaipur Cites 54 - Cited by 0 - Full Document

Katrathal Gram Sewa Sahkari Samiti ... vs Ito Ward 1 Sikar, Sikar on 27 October, 2025

(i) In the case of Vikram Singh vs. Income Tax Officer (2021) 63 CCH 0044 LucknowTribReassessment--Escapement of income--Case of assessee was reopened u/s. 147 for deposits in bank amounting Rs.11,00,000--Held, Bombay High Court in case of CIT vs. Jet Airways (I) Ltd., 331 ITR 236 has held that sec. 147 has this effect that AO has to assess or reassess income ("such income") which escaped assessment and which was basis of formation of belief and if he does so, he can also assess or reassess any other income which has escaped assessment and which, comes to his notice during course of proceedings-- However, if after issuing a notice under s. 148, he accepted contention of assessee and holds that income which he has initially formed a reason to believe had escaped assessment, has as a matter of fact not escaped assessment, it is not open to him independently to assess some other income-- If he intends to do so, a fresh notice under s. 148 would be necessary, legality of which would be tested in event of a challenge by assessee--In view of above facts and circumstances and in view of judicial precedent--Assessee's ground allowed.
Income Tax Appellate Tribunal - Jaipur Cites 78 - Cited by 0 - Full Document
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