{"id":28520,"date":"2022-07-18T17:21:55","date_gmt":"2022-07-18T11:51:55","guid":{"rendered":"https:\/\/itatonline.org\/digest\/amar-jewellers-ltd-v-acit-2022-444-itr-148-guj-hc\/"},"modified":"2023-02-05T16:22:17","modified_gmt":"2023-02-05T10:52:17","slug":"amar-jewellers-ltd-v-acit-2022-444-itr-148-guj-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/amar-jewellers-ltd-v-acit-2022-444-itr-148-guj-hc\/","title":{"rendered":"Amar Jewellers Ltd. v. ACIT (2022) 444 ITR 148 \/  216 DTR 198 \/  328 CTR 468\/139 taxmann.com 198 (Guj.)(HC)"},"content":{"rendered":"<p>Dismissing the petition the Court held, that the search assessment was finalised under section 143(3) read with section 153A of the Act on March 28, 2016. Thereafter, survey action under section 133A of the Act was conducted by the Investigation Wing on January 14, 2017 in the case of B, proprietor of Swastik Corporation. During the course of the survey action, a statement of Shri Bijal Ashok Shah was recorded on oath wherein he admitted that he was engaged in the business of providing accommodation entries to the beneficiaries in lieu of commission. Shri Bijal Ashok Shah\u00a0\u00a0 \u00a0also disclosed the modus operandi employed by him to provide the entries to the beneficiaries. \u00a0Shri Bijal Ashok Shah in his statement, had also named the petitioner as one of the recipients of the accommodation entries. All these facts were not before the Assessing Officer at the time of finalization of the search assessment. The notice of reassessment based on these facts was valid.\u00a0 Refer,Amar Jewellers Ltd. v. ACIT\u00a0 (2022) 444 ITR 97\/\/ 216 DTR 137 \/\u00a0 328 CTR\u00a0 150\/1<strong>37 taxmann.com 249 <\/strong>(Guj.)(HC)\u00a0 KKP Marketing (I) Ltd \u00a0v. Dy.CIT(2022) 444 ITR 97\/ 216 DTR 137 \/ \u00a0328 CTR\u00a0 150\/ 1<strong>37 taxmann.com 249( Guj)( HC)<\/strong>\u00a0 (AY.2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 : Reassessment-Prima facie basis for belief sufficient Survey of  third person and statement during survey proceedings revealing alleged bogus nature of  transactions-Of Assessee-Notice valid.  [S. 148, 153A,  Art, 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-28520","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7q0","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=28520"}],"version-history":[{"count":5,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28520\/revisions"}],"predecessor-version":[{"id":32477,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28520\/revisions\/32477"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=28520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=28520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=28520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}