TaxTMI 
TaxTMI 
2017 (1) TMI 1410
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.... been completed on wholly erroneous interpretation of section 147 of the Income Tax Act. The conditions precedent imperative for the issuance of a notice u/s 147 of the Income Tax Act were wholly conspicuous by their absence in the facts and circumstances of this case and as a consequence thereof, all imminent proceedings and the assessment order are wholly illegal, without the authority of law, null and void. (b) The Hon'ble CIT(A) has failed to consider the fact that the learned Assessing Officer has exercised his powers under section 147 of the Income Tax Act on mere surmises and suspicions and on wholly unreasonable and speculative premises and he had no reason to believe that income chargeable to tax for the aforesaid relevant year has escaped assessment either by reason of the appellant company failing to make a return u/s 139 of the Income Tax Act or by its failure by omission or failure to disclose, fully and truly, all the material facts necessary for such an assessment. (c) The Hon'ble CIT(A) has failed to appreciate that the notice u/s 148 of the Income Tax Act was not served upon on the appellant within the stipulated time limit and therefore the asses....
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....CIT(A) has failed to consider the fact that the learned Assessing Officer has exercised his powers under section 147 of the Income Tax Act on mere surmises and suspicions and on wholly unreasonable and speculative premises and he had no reason to believe that income chargeable to tax for the aforesaid relevant year has escaped assessment either by reason of the appellant company failing to make a return u/s 139 of the Income Tax Act or by its failure by omission or failure to disclose, fully and truly, all the material facts necessary for such an assessment. (c) The Hon'ble CIT(A) has failed to appreciate that the notice u/s 148 of the Income Tax Act was not served upon on the appellant within the stipulated time limit and therefore the assessment is invalid, null and void-abinitio. 3(a) The Hon'ble CIT(A) has erred both in law and in facts in confirming the addition of Rs. 4 Lacs made by the Ld. AO u/s 68 of the Income Tax Act in respect of gift received by him from Smt. Renu Maini 3(b) The Hon'ble CIT(A) has confirmed the addition of Rs. 4 Lacs without appreciating the fact that the appellant during the course of assessment and appellate proceedings had filed copy o....
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....he Tribunal. 7. Ld. Counsel of the assessee has filed the two Paper Books one is containing pages 1 to 40 attaching therewith the copy of Return of income for AY 2003-04; copy of reply to AO dated 25.10.2007; copy of reasons recorded provided by AO; copy of reply to AO dated 19.11.2007 alongwith annexures; copy of written submission filed before CIT(A); copy of remand report dated 20.1.2010 and copy of rejoinder filed before the CIT(A). He stated that Ld. CIT(A) has erred in confirming the action of the AO in assuming jurisdiction u/s. 147 and that too without complying with the mandatory conditions as prescribed under section 147 to 151 of the I.T. Act, 1961 and the reasons recorded are invalid and contrary to law and facts and there is no satisfaction as per law u/s. 151 of the Act. Hhe further draw our attention towards the copy of reasons for reopening the case u/s. 148 and stated that no proper reasons were recorded; no nexus between the materials relied upon and the belief formed for escapement of income; no application of mind; no proper satisfaction was recorded before issue of notice u/s. 148; no independent conclusion that there was escapement of income. It was further s....
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....iya Ahuja, R/o Ashok Vihar, Phase-I, New Delhi has concealed his income Rs. 8,01,200/- for taxation. Since the aount income which has escaped assessment more than 100000/-, therefore, notice u/s. 148 of the I.T. Act, 1961 may be issued. SD/- (NAND LAL) INCOME TAX OFFICER, WARD - 19(2), NEW DELHI" 10. After going through the reasons recorded by the AO, as aforesaid, I am of the view that AO has not applied his mind so as to come to an independent conclusion that he has reason to believe that income has escaped during the year. In my view the reasons are vague and are not based on any tangible material as well as are not acceptable in the eyes of law. The AO has mechanically issued notice u/s. 148 of the Act, on the basis of information allegedly received by him from the Directorate of Income Tax (Investigation), New Delhi. Keeping in view of the facts and circumstances of the present case and the case law applicable in the case of the assessee, I am of the considered view that the reopening in the case of the assessee for the asstt. Year in dispute is bad in law and deserves to be quashed. My view is supported by the following judgment/decision:- Pr. CIT vs. G&G Pharma India ....