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2016 (2) TMI 971 - DELHI HIGH COURT

2016 (2) TMI 971 - DELHI HIGH COURT - [2016] 387 ITR 416 - Reopening of assessment - reasons to believe - addition to income - Held that:- The issue urged by the Revenue stands covered in favour of the assessee by the decision of this court in Ranbaxy Laboratories Ltd. v. CIT [2011 (6) TMI 4 - DELHI HIGH COURT ] which has been followed in CIT v. Software Consultants [2012 (2) TMI 18 - DELHI HIGH COURT ]. In sum, if no addition is made on the basis of the reasons to believe recorded by the Assess .....

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ocate For the Respondent : Salil Aggarwal and Ravi Pratap Mall, Advocates JUDGMENT CM No. 3025 of 2016 1. For the reasons stated in the application, the delay of 215 days in re-filing the application is condoned. 2. The application stands disposed of. I. T. A. No. 101 of 2016 3. This appeal by the Revenue is directed against an order dated November 24, 2014 passed by the Income-tax Appellate Tribunal ("ITAT") in I. T. A. No. 4989/Del/2011 (Monarch Educational Society v. ITO (Exemption) .....

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and stated that the said amount is not the income of the assessee from property held under trust. It was also not in the nature of the voluntary contributions but was income from undisclosed sources. 6. However, in the course of the reassessment proceedings, as is evident from the assessment order dated December 10, 2010 passed by the Assessing Officer, the sum that was sought to be added to the income of the assessee was not the aforementioned sum of ₹ 16,61,000 but a sum of ₹ 26,1 .....

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