127 (SC), 3. Shree Manjunathesware Packing Products & Camphor Works v. CIT

345 ITR 451High Court2012#14064 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2019 to 2021.

Judgments citing 127 (SC), 3. Shree Manjunathesware Packing Products & Camphor Works v. CIT

Essar Capital Ltd, Mumbai vs. Pr CIT 6, Mumbai

In the result the appeal of the assessee is allowed

ITA 3759/MUM/2017[2012-13]Status: DisposedITAT Mumbai08 Jan 2021AY 2012-13

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiassessment Year: 2012-13 M/S. Vajresh Consultants Prcit 6, Ltd. (Earlier Known As Aayakar Bhavan, Essar Capital Ltd.), Mumbai - 400020 Vs. 40-B, Ridge Road, Malabar Hill, Mumbai – 400 006 Pan: Aabce 7257R (Appellant) (Respondent) Present For: Assessee By : Shri Nishant Thakkar, A.R. & Shri Hiten Chande, A.R. Revenue By : Shri R. Manjunatha Swamy, D.R. Date Of Hearing : 23.10.2020 Date Of Pronouncement : 08.01.2021 O R D E R

For Appellant: Shri Nishant Thakkar, A.R. &For Respondent: Shri R. Manjunatha Swamy, D.R
Section 143(3)Section 263

…2 Taxman.com.l53(Cal)/ M.I. Overseas Ltd v DIT (Int. Tax) [2012] 28 Taxman.com. 279 11 M/s. Vajresh Consultants Ltd. (Earlier known as Essar Capital Ltd.) (Uttarakhand), Bharat Overseas Bank Ltd v CIT [2012] 26 Taxman.com 330(Chennai), CIT v Harsh J. Punjabi 345 ITR 451(DeL), CIT v Infosis Techn. Ltd 17 Taxman.com 203 & Sripan Land Dev.(P) Ltd v CIT[2011] Taxman.com 429(Mum ITAT). 25. This failure of the Assessing Officer to make relevant and meaningful inquiry as warranted by the facts of the present case and allowing without causing necessary enquiries the various churns of the assesses tantamount to assessme…

Deutsche Investments India P.Ltd, Mumbai vs. CIT 6, Mumbai

In the result, this appeal by the assessee stands allowed

ITA 3665/MUM/2014[2008-09]Status: DisposedITAT Mumbai06 Nov 2020AY 2008-09
Section 143(3)Section 263

…Ltd vs C1T[2013] 3S Taxman.com 183(AH.), Bharti Hexacom Ltd v CIT [2013] 33 Taxman.com.153(Cat.), M.I. Overseas Ltd v DIT (Int. Tax)[2012] 28 Taxman. com.279(Uttarakhand), Bharat Overseas Bank Ltd v CIT[2012] 26 Taxman.com 330(Chennai), CIT v Harsh J Punjabi 345 ITR 451 (Dei.), CIT v Infosys Techn. Ltd 17 Taxman.com 203 & Sripan Land Dev.(P) Ltd v CIT(2011) Taxman.com 429(Mum ITAT). I am satisfied that it is a fit case for revision u/s 263 of the Act as the assessment order is erroneous and prejudicial to the interest of the revenue on account of failure of AO to carry out relevant and meaningful inquiries, i, t…

Dy. Commissioner of Income Tax, Circle-16(2), Hyderabad vs. Mylan Laboratories Limited, Hyderabad

In the result, appeal of the assessee is partly allowed

ITA 12/HYD/2019[2014-15]Status: DisposedITAT Hyderabad13 Nov 2019AY 2014-15

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

For Respondent: Sh. YVST Sai, D.R
Section 251Section 28Section 32Section 32(1)Section 37(1)Section 43(1)Section 68

…1) and in support of his contention, he placed reliance upon the decision of the coordinate bench of the Tribunal in the case of AP Paper Mills Ltd., 128 TTJ 596 (Hyd.) and also the decision of the Hon’ble Delhi High Court in the case of Areva T&D India Ltd., 345 ITR 451. In support of his contention that there cannot be a differential tax treatment between goodwill generated on slump sale and amalgamation, the ld. Counsel for the assessee placed reliance upon the decision of the Hon’ble Delhi High Court in the case of Triune Energy Services (P) Ltd., 65 taxmann.com 288 [2016] (Del.). 12.3 He also referred to 6t…

Mylan Laboratories Limited, Hyderabad vs. Dy. Commissioner of Income Tax, Circle-16(2), Hyderabad

In the result, appeal of the assessee is partly allowed

ITA 2335/HYD/2018[2014-15]Status: DisposedITAT Hyderabad13 Nov 2019AY 2014-15

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

For Respondent: Sh. YVST Sai, D.R
Section 251Section 28Section 32Section 32(1)Section 37(1)Section 43(1)Section 68

…1) and in support of his contention, he placed reliance upon the decision of the coordinate bench of the Tribunal in the case of AP Paper Mills Ltd., 128 TTJ 596 (Hyd.) and also the decision of the Hon’ble Delhi High Court in the case of Areva T&D India Ltd., 345 ITR 451. In support of his contention that there cannot be a differential tax treatment between goodwill generated on slump sale and amalgamation, the ld. Counsel for the assessee placed reliance upon the decision of the Hon’ble Delhi High Court in the case of Triune Energy Services (P) Ltd., 65 taxmann.com 288 [2016] (Del.). 12.3 He also referred to 6t…

Mohd. Momineen Qureshi, New Delhi vs. ACIT, Circle- 46(1), New Delhi

In the result appeal of assessee dismissed

ITA 1987/DEL/2018[2015-16]Status: DisposedITAT Delhi02 Apr 2019AY 2015-16

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

For Appellant: Shri Anil Kakkar, C.AFor Respondent: Ms. Parmita M. Biswas, CIT-DR
Section 142(1)Section 143(2)Section 143(3)Section 263

…art of the Assessing Officer to conduct necessary and required enquiries made the assessment order erroneous and prejudicial to the interest of revenue and Commissioner rightly exercised his revisionary power as held in case of CIT vs. Harsh I. Punjabi (2012) 345 ITR 451 (Del.). There was a clear case of substantial fall in net profit and it called for addition on that count and not making such addition has resulted in substantial loss of revenue. The fall in GP rate from 24.40% to 2.21% meant a fall in GP rate of 22.19% which comes to Rs.44.38 Cr. on a turnover of Rs.200 Cr. The fall in NP rate from 6.33% to 0.0…

Dabur Invest Corp, New Delhi vs. Prcit-16, New Delhi

In the result, the appeals of the assessee in ITA Nos

ITA 1764/DEL/2018[2014-15]Status: DisposedITAT Delhi11 Mar 2019AY 2014-15

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble[A.Y 2013-14] & [A.Y 2014-15]

For Appellant: Shri M.P. Rastogi, AdvFor Respondent: Shri G.C. Srivastava, Sr Adv
Section 263

…66/243 15 asked ITR 83 (Supreme Court) 2. Rajmandir Estates Pvt Ltd Vs PCIT (2017) 245 Taxman 127 (SC), 3. Shree Manjunathesware Packing Products & Camphor Works vs CIT (1998) 231 ITR 53 (SC) 4. CIT t/s Harsh J Punjabi [2012] 27 Taxmann.com 175 (Delhi)/[2012] 345 ITR 451 (Delhi) 5. Shankar Tradex Pvt Ltd Vs PCIT (ITA No. 2999/Del/2017) Ledger account of 1. Malabar Industrial Co. Ltd v. 2 2013- Option Price 14 Insufficient CIT [2000] 109 Taxman received given Vide Query 66/243 ITR 83 (Supreme notice equivalent to Court) u/s non-enquiry 142(1) as per 2. Adi. CIT v. Gee Vee dated judgment of Enterprises [1975] 99 IT…

Dabur Invest Corp, New Delhi vs. Prcit-16, New Delhi

In the result, the appeals of the assessee in ITA Nos

ITA 1763/DEL/2018[2013-14]Status: DisposedITAT Delhi11 Mar 2019AY 2013-14

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble[A.Y 2013-14] & [A.Y 2014-15]

For Appellant: Shri M.P. Rastogi, AdvFor Respondent: Shri G.C. Srivastava, Sr Adv
Section 263

…66/243 15 asked ITR 83 (Supreme Court) 2. Rajmandir Estates Pvt Ltd Vs PCIT (2017) 245 Taxman 127 (SC), 3. Shree Manjunathesware Packing Products & Camphor Works vs CIT (1998) 231 ITR 53 (SC) 4. CIT t/s Harsh J Punjabi [2012] 27 Taxmann.com 175 (Delhi)/[2012] 345 ITR 451 (Delhi) 5. Shankar Tradex Pvt Ltd Vs PCIT (ITA No. 2999/Del/2017) Ledger account of 1. Malabar Industrial Co. Ltd v. 2 2013- Option Price 14 Insufficient CIT [2000] 109 Taxman received given Vide Query 66/243 ITR 83 (Supreme notice equivalent to Court) u/s non-enquiry 142(1) as per 2. Adi. CIT v. Gee Vee dated judgment of Enterprises [1975] 99 IT…

127 (SC), 3. Shree Manjunathesware Packing Products & Camphor Works v. CIT (345 ITR 451) — Cited in 7 Judgments | BharatTax