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1 - 10 of 15 (0.34 seconds)Section 144 in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
Margita Infra vs National E-Assessment- Centre Delhi on 9 January, 2023
8.1 Similar decisions have been rendered by the hon'ble Gujarat
High in the case of Margita Infra vs National E-Assessment-
Centre Delhi in R/Special Civil Application no.15756 of 2021 on
9 January, 2023 and by hon'ble Orissa High Court in the case of
Sribasta Kumar Versus Union of India and another in WP ©
No.29279 of 2021,the hon'ble Delhi High Court in Bharat
Aluminium Company Ltd. vs Union Of India & Ors. in WP©
14528 of 2021 on 14 January, 2022.
Section 68 in The Income Tax Act, 1961 [Entire Act]
Section 143 in The Income Tax Act, 1961 [Entire Act]
Durga Prosad More vs Commissioner Of Income-Tax, West ... on 20 December, 1967
3.1 The AO further observed that the onus was on the assessee
to prove that the loan transaction was genuine and that the apparent
was real. The NBFC to whom notice u/s 133(6) was served over email
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ITA No. 4396/Mum/2023
A.Y. 2018-19
Sahyadri Erectors Private Limited, Mumbai
and through the e-filing portal also did not respond even after fresh
notice sent as per new address provided by the assessee. He placed
reliance on the landmark judgements of the hon'ble Apex Court in
Sumati Dayal Vs CIT (214 ITR 801)and Durga Prasad More Vs CIT and
McDowell Vs CTO holding that in absence of third party confirmation
and explanation in respect of the loan of Rs. 195 cr. taken by the assessee
from RCFL remained unjustified and was added to the income of the
assessee as unexplained income u/s 68 of the Act.
Sumati Dayal vs Commissioner Of Income-Tax, Bangalore on 28 March, 1995
3.1 The AO further observed that the onus was on the assessee
to prove that the loan transaction was genuine and that the apparent
was real. The NBFC to whom notice u/s 133(6) was served over email
Page |4
ITA No. 4396/Mum/2023
A.Y. 2018-19
Sahyadri Erectors Private Limited, Mumbai
and through the e-filing portal also did not respond even after fresh
notice sent as per new address provided by the assessee. He placed
reliance on the landmark judgements of the hon'ble Apex Court in
Sumati Dayal Vs CIT (214 ITR 801)and Durga Prasad More Vs CIT and
McDowell Vs CTO holding that in absence of third party confirmation
and explanation in respect of the loan of Rs. 195 cr. taken by the assessee
from RCFL remained unjustified and was added to the income of the
assessee as unexplained income u/s 68 of the Act.
Sulzer Pumps India P. Ltd., Navi Mumbai vs Addl./Jt/Dy/ Asstt/ Ito, National ... on 12 May, 2023
b. Hon'ble High Court of Delhi in the matter of RMSI (P.) Limited vs. National
E- Assessment Centre Delhi. Since in the present case, the impugned order
has been passing without issuing a show cause notice a draft assessment order
which has been mandated under section 144B(1)(xvi)(b) of the Act, the
impugned assessment order dated 8th September, 2021 issued under section
143(3) read with section 144B of the Act is set aside and the Respondent was
directed to issue a show cause notice within four weeks. The Respondent is at
liberty to issue a draft assessment order/show cause notice to the petitioner
and thereafter, the proceedings shall continue in accordance with law.
Piramal Enterprises Limited, Mumbai vs Additional Commissioner Of Income ... on 30 July, 2018
63. Principles of natural justice firmly run through fabric of section 144B(1) of
the Income-tax Act, 1961. Whenever DAO, FDAO is prejudicial to the interest
of assessee or RDAO is prejudicial to the interest of assessee in comparison to
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ITA No. 4396/Mum/2023
A.Y. 2018-19
Sahyadri Erectors Private Limited, Mumbai
DAO or FDAO, upon a response to show cause notice, personal hearing for
oral submissions or to present its case before income tax authority is strongly
entwined in the provisions on a request from an assessee unless it is absurd,
strategised and/or intended to protract assessment etc. It would also emerge
from various decisions, referred to above, ordinarily, such a request would not
be declined.