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Commissioner of Income-Tax (Exemption) Versus Monarch Educational Society

2016 (2) TMI 971 - DELHI HIGH COURT

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 COU .....

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of the Act, resort cannot be had to Explanation 3 to section 147 of the Act to make an addition on any other issue not included in the reasons to believe for reopening the assessment. - Decided in favour of assessee - I. T. A. No. 101 of 2016 - Dated .....

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all, 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 .....

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("AY") 2003-04. 4. The question sought to be urged by the Revenue is whether the Income- tax Appellate Tribunal was correct in quashing the notice issued under section 148 of the Income-tax Act, 1961 ("Act") for reopening the asse .....

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ssessee 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 Dec .....

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the unsecured loans that were unable to be explained by the assessee. In other words, the addition sought to be made to the income of the assessee was not based on the accommodation entries which formed the subject matter of the reasons to believe fo .....

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