TaxTMI 
TaxTMI 
2025 (10) TMI 1222
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....out the assessment order dated 29.05.2023 u/s. 147 of the Income-tax Act, 1961, (in short 'the Act'). 2. The assessee has raised the following grounds in appeal: 1.On the facts and circumstances of the case and law, the order passed by the learned Commissioner of income tax(Appeals) [Ld. CIT(A)] is bad both in the eyes of the law and facts and thus, liable to be quashed. 2. On the facts and circumstances of the case the Ld. CIT(A) has erred both on facts and in law passing the order without giving assessee an opportunity of being heard, in violation of the principle of natural justice. 3. On the facts and circumstances of the case the Ld. CIT(A) in confirming the order of the Assessing Officer (AO) without appr....
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....on 147 which is bad in law having been made without proper sanction as prescribed under section 151 of the Act. 9.(i) On the facts and circumstances of the case the, Ld. CIT(A) has erred both on facts and in law in confirming the reopening of the assessment proceedings u/s 147 of the Act without having valid information. (ii) That the reassessment proceedings have been initiated on the basis of information without there being any independent application of mind. (iii) That the reassessment order passed by the AO is bad and liable to be quashed as the same has been reopened on the basis of the information which are vague and against the facts on record. 10. On the facts and circumstances of the case the, L....
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....deration of Rs. 1,10,43,685/- and assessee has gained bogus long term capital gain (LTCG) of Rs. 1,09,89,382/- u/s 10(38) of the Act through this transaction. Notice under section 148A(b) of the Act was issued on 22-05-2022 and served upon the assessee. The case of the assessee was reopened u/s 147 of the Act after obtaining the approval from the competent authority and notice u/s 148of the Act was issued. The assessee was filed the return of income at Rs. 10,56,270/- in the compliance of the notice. The authorized representative filed the submission in the compliance of the notice. The Assessing Officer completed the assessment after making the addition of Rs. 1,09,89,382/- under section 69 of the Act as unexplained income. 4. Aggrieved....
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....) WP 9031/2023 dated 28-04-2025 and the case of Sampark Management Consultancy LLP v. DCIT, Circle -5(2) (1) Noida the Co-ordinate bench held as under: ITA NO. 6025 & 6026 /Del/2024 dated June 25,2025. In the case of Sampark Management Consultancy LLP v. DCIT, Circle - 5(2) (1) Noida as under :- "We find that section 148 of the Act was substituted by the Finance Act, 2021 wet. 01.04.2021. Notice 14 of the Act as per the old provisions of section 148 of the Act applicable till 31.03.2021 should have been issued only upto 31.03.2021. The issue stands settled by the Hon'ble Supreme Court in Union of India vs Ashish Agarwal, 444 ITR 1 (SC) The assessee company was part of the litigations. The AO has issued notice u/s 148A(b) on 27.....
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.... be sustained. Consequently, the appeals of the assessee are allowed." 6. Reliance also placed on the following decisions: (i) Bhagwan Sahai Sharma v. Deputy Commissioner of Income Tax, Circle 13-2 Delhi and Anr 2025 (5) TMI 1502 Delhi High Court (ii) H And M Hennes And Mauritz Retail Private Limited vs. The Assistant Commissioner of Income Tax, circle 10(1) New Delhi & Anr. (iii) Ramesh Bachulal Mehta v. Income Tax Officer ward- 27(3) (1) Mumbai & ors 2025 (8) TMI 1322, Hon'ble Bombay High Court (iv) Upneet Singh Arneja V ITO Ward-4591) New Delhi 2025 (8) TMI 1646 ITAT Delhi (v) M/s Essel Housing Projects P.Ltd V. DCIT, ITA No. 1899&1900/Del 2025 (vi) Ajay Duggal vs, ITO, ITA No. 561....