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1 - 10 of 23 (0.48 seconds)Section 148 in The Income Tax Act, 1961 [Entire Act]
Section 151 in The Income Tax Act, 1961 [Entire Act]
Section 68 in The Income Tax Act, 1961 [Entire Act]
Dhfl Venture Capital Fund vs Income Tax Officer 19(3)(1 on 14 June, 2013
based on the contingency of outcome of the appeal proceedings in
the case of Mr. Rajendran Pillai, which does not meet the
requirement that income should escaped assessment. However, such
and exercise is permissible in the case of regular assessment not in
the case of reassessment proceedings as held by the Hon'ble
Bombay High Court in the case of DHLF Venture Capital Fund v.
ITO [2013] 358 ITR 471. The relevant findings of the Hon'ble High
Court are extracted as below: -
Section 10 in The Companies Act, 1956 [Entire Act]
The Income Tax Act, 1961
Section 61 in The Income Tax Act, 1961 [Entire Act]
Section 63 in The Income Tax Act, 1961 [Entire Act]
Chhugamal Rajpal vs S. P. Chaliha & Ors on 21 January, 1971
11.2 qReassessment proceedings were initiated merely on the basis
of 'reason to suspect' and not 'reason to believe' for the purpose of
making fishing and roving enquiries in connection with the various
items depicted in the regular books of account of the Assessee-not
permissible - reliance placed on Chhugamal Rajpal vs. S.P. Chaliha
[1971] 79 ITR 603 (SC); Bakulbhai Ramanlal Patel vs. Income Tax
Officer (2011) 79 CCH 0204 (Guj). Reassessment proceedings
initiated by the Ld. A.O on the basis of the satisfaction borrowed
from the unverified information received from the Investigation
Wing without any independent application of mind and without
conducting any such independent enquiry/investigation by the Ld.
10
ITA No. 115 & CO 15/Coch/2024
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