153 (Gujarat) 8 Shakti Karnawat v. ITO

296 ITR 90High Court2008#565 most cited

What is 153 (Gujarat) 8 Shakti Karnawat v. ITO authority for?

A live link of third-party information can form the basis for reopening an assessment under Section 148, provided it contains material facts necessary for assessment. The Assessing Officer must demonstrate a "reason to believe" that income has escaped assessment, which can be satisfied by such information even if it pertains to other assessees or relates to accommodation entries.

171

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2016 to 2026.

Also referred to as

Shakti Karnawat v. ITO · 153 (Gujarat) 8 · 296 ITR 90 · Section 148 · Section 147 · reopening of assessment · reason to believe · escapement of income · third party information · live link · material facts necessary for assessment · accommodation entry

Sections most often in play

Section 148Section 147Section 143(3)Section 142(1)Section 68Section 143(2)Section 133(6)Section 151

Issues it is cited on

third party informationlive linkmaterial facts necessary for assessmententry operatorreopening of assessmentreason to believechange of opinionescapement of incomeaccommodation entryappeal before cit(a)speaking orderreassessment proceedings

Judgments citing 153 (Gujarat) 8 Shakti Karnawat v. ITO

Kamlesh Kalyanchand Lalwani, HUF, Nashik vs. Income-Tax Officer

In the result, both the appeals filed by the assessees are partly allowed

ITA 1892/PUN/2014[2001-02]Status: DisposedITAT Pune23 Feb 2018AY 2001-02

Bench: Shri D. Karunakara Rao, Am

For Respondent: Dr. Vivek Aggarwal, CIT-DR
Section 147Section 148

…पुणे "यायपीठ "यायपीठ "यायपीठ “SMC” पुणे "यायपीठ पुणे म"म"म"म" आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण पुणे अिधकरण पुणे पुणे पुणे पुणे IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, PUNE "ी डी "ी डी. क"णाकरा क"णाकरा राव लेखा सद"य सद"य केकेकेके सम" सम" "ी "ी क"णाकरा क"णाकरा राव, लेखा सद"य सद"य सम" सम" डी डी राव राव लेखा लेखा BEFORE SHRI D. KARUNAKARA RAO, AM आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / ITA No.1891/PUN/2014 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2001-02 वष" Kalyanchand Manakchand Lalwani (HUF), Mahavir Path, A/P. Manmad, Dist. Nashik –…

Kalyanchand Manakchand Lalwani, HUF, Nashik vs. Income-Tax Officer

In the result, both the appeals filed by the assessees are partly allowed

ITA 1891/PUN/2014[2001-02]Status: DisposedITAT Pune23 Feb 2018AY 2001-02

Bench: Shri D. Karunakara Rao, Am

For Respondent: Dr. Vivek Aggarwal, CIT-DR
Section 147Section 148

…पुणे "यायपीठ "यायपीठ "यायपीठ “SMC” पुणे "यायपीठ पुणे म"म"म"म" आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण पुणे अिधकरण पुणे पुणे पुणे पुणे IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, PUNE "ी डी "ी डी. क"णाकरा क"णाकरा राव लेखा सद"य सद"य केकेकेके सम" सम" "ी "ी क"णाकरा क"णाकरा राव, लेखा सद"य सद"य सम" सम" डी डी राव राव लेखा लेखा BEFORE SHRI D. KARUNAKARA RAO, AM आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / ITA No.1891/PUN/2014 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2001-02 वष" Kalyanchand Manakchand Lalwani (HUF), Mahavir Path, A/P. Manmad, Dist. Nashik –…

Assistant Commissioner of Income-Tax vs. M/S. Kirti Solvex Ltd

In the result, the appeal of Revenue is dismissed

ITA 1501/PUN/2015[2009-10]Status: DisposedITAT Pune19 Jan 2018AY 2009-10

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Nikhil PathakFor Respondent: Shri Ajay Modi
Section 132Section 142ASection 143(2)Section 143(3)Section 147Section 148

…ance of notice and the Assessing Officer is bound to dispose of the same by passing a speaking order [GKN Driveshaft Ltd. Vs. ITO (supra)]. The Hon’ble Bombay High Court in the case of Asian Paints Ltd. Vs. Deputy Commissioner of Income Tax & Anr. reported as 296 ITR 90 has further directed that minimum four weeks time should be granted to the assessee after service of order deciding objections before the Assessing Officer proceeds with the assessment. 7. The Hon’ble Bombay High Court in a recent decision rendered in the case of KSS Petron Private Ltd. Vs. The Assistant Commissioner of Income Tax in Income Tax Ap…

Manjula H Kanuga, Bhiwandi vs. DCIT Cir 1, Kalyan

In the result, the appeal filed by the assessee is allowed

ITA 4258/MUM/2012[2003-04]Status: DisposedITAT Mumbai31 Mar 2017AY 2003-04

Bench: Shri G.S.Pannu, Am & Shri Amarjit Singh, Jm आयकरअपीलसं/I.T.A. No.4258/Mum/2012 (िनधा"रणवष" / Assessment Year: 2003-04) बनाम/ Smt. Manjula H. Kanuga Deputy Commissioner Of House No.439, Flat No.1, Income Tax Circle – 1 Vs. Sumita Building, 1St Floor, Mohan Plaza, Gokulnagar, Kasarali, Wayale Nagar, Khadakpada, Bhiwandi Kalyan (W) "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Acapk5229R (अपीलाथ"/Appellant) (""थ" /Respondent) ..

For Appellant: Dr. P. DanielFor Respondent: Shri Pradeep Kumar Singh
Section 132Section 147Section 148Section 54E

…once the AO rejects the objection filed by the assessee, then in such a case the AO should not proceed further in the matter for a period of 4 weeks. Reliance was placed on the decision of the Hon'ble Jurisdictional High Court in the case of Asian Paints Ltd. 296 ITR 90 and Aroni Commercials Ltd. 362 ITR 403. 7. Per contra, the Ld. Departmental Representative strongly supported the orders of the authorities below. It is the say of the Ld. DR that the assessment was reopened on the basis of tangible material evidence in the form of report received from the Investigation Wing, Mumbai and therefore it cannot be said…

DCIT Cir 7(1), Mumbai vs. Sheth Financial Services P.Ltd, Mumbai

In the result, the appeal filed by the Revenue in ITA No

ITA 5406/MUM/2013[2005-06]Status: DisposedITAT Mumbai28 Oct 2016AY 2005-06

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 5406/Mum/2013 ("नधा"रण वष" / Assessment Year : 2005-06) D.C.I.T. Cir. 7(1), M/S Sheth Financial बनाम/ Room No. 622, Services P. Ltd., V. Aayakar Bhavan, (Formerly Known As P L M.K. Road, Research & Development Churchgate, Pvt. Ltd., Mumbai -400020. Sadhna House, 3 Rd Floor,, 570 P.B. Marg, Behind Mahindra Tower, Worli, Mumbai – 400 018. "थायी लेखा सं./Pan : Aabcp4312L .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

For Appellant: Shri Hiro Rai
Section 143(3)Section 147Section 148Section 151(2)Section 32

…December, 2011. It was submitted that the re- assessment was framed within four weeks of service of order rejecting the objections of the assessee which is contrary to the decision of the Hon’ble Bombay High Court in the case of Asian Paints Ltd. DCIT, (2008) 296 ITR 90 (Bom) and also in the case of Aroni Commercials Ltd. v. DCIT, (2014) 362 ITR 403 (Bom). It was submitted by learned counsel for the assessee that the assessee cannot be burdened with the re-assessment for the mistakes committed by the AO as the re-opening is done beyond four years from the ITA 5406/Mum/2013 13 end of the assessment year and prov…

Hakmans Financial Services & Securities P.Ltd, Mumbai vs. DCIT Cen Cir 39, Mumbai

The appeal of the Revenue is dismissed as infructuous

ITA 4364/MUM/2014[2007-08]Status: DisposedITAT Mumbai21 Sept 2016AY 2007-08

Bench: Shri R.C. Sharma, Am & Shri Sandeep Gosain, Jm आयकर अपील सं./ I.T.A. No. 4364/Mum/2014 ("नधा"रण वष" / Assessment Year: 2007-08)

For Appellant: Shri Abhishek Sharma
Section 143Section 143(2)Section 147Section 148Section 69

…R further submitted that the assessment order passed by AO is not legally sustainable as the AO did not follow the procedure for completing the assessment u/s.147 as laid down by the Hon’ble Bombay High Court in the case of Asian Paints Ltd. Vs. DCIT, (2008) 296 ITR 90 (Bombay). In this context, learned AR also relied upon the above mentioned detailed judgment of Hon’ble Bombay High Court. 16. On the other hand, learned DR appearing on behalf of the Revenue relied upon the order passed by the lower authorities. 17. We have heard the counsel for both the parties and perused the material available on record as…

ACIT CC 39, Mumbai vs. Hakmans Financial Services & Securities P.Ltd, Mumbai

The appeal of the Revenue is dismissed as infructuous

ITA 3035/MUM/2014[2007-08]Status: DisposedITAT Mumbai21 Sept 2016AY 2007-08

Bench: Shri R.C. Sharma, Am & Shri Sandeep Gosain, Jm आयकर अपील सं./ I.T.A. No. 4364/Mum/2014 ("नधा"रण वष" / Assessment Year: 2007-08)

For Appellant: Shri Abhishek Sharma
Section 143Section 143(2)Section 147Section 148Section 69

…R further submitted that the assessment order passed by AO is not legally sustainable as the AO did not follow the procedure for completing the assessment u/s.147 as laid down by the Hon’ble Bombay High Court in the case of Asian Paints Ltd. Vs. DCIT, (2008) 296 ITR 90 (Bombay). In this context, learned AR also relied upon the above mentioned detailed judgment of Hon’ble Bombay High Court. 16. On the other hand, learned DR appearing on behalf of the Revenue relied upon the order passed by the lower authorities. 17. We have heard the counsel for both the parties and perused the material available on record as…

Lupin Ltd, Mumbai vs. Asst CIT Ltu, Mumbai

The appeal of the assessee is allowed

ITA 825/MUM/2012[2003-04]Status: DisposedITAT Mumbai13 Jul 2016AY 2003-04

Bench: Shri R.C. Sharma & Shri Sandeep Gosain: (A.Y : 2003-04) M/S. Lupin Limited Vs. Acit Ltu, 159, C.S.T Road, Kalina, Mumbai. Santa Cruz (East), Mumbai 400 098. Pan : Aaacl1069K (Appellant) (Respondent)

For Appellant: Shri Rajan Vora &For Respondent: Shri Manoj Kumar
Section 115JSection 127Section 139Section 143(3)Section 147Section 148Section 154Section 35Section 80Section 80I

…48. In this respect, the Ld. AR relied upon the following judgments : i) GKN Driveshafts India Ltd., (2003) 259 ITR 19 (SC) 7 M/s. Lupin Limited ii) Tupperware India Pvt. Ltd., ITA 415 of 2015 (Del. HC) dated 10th August 2015 iii) Asian Paints Ltd., (2008) 296 ITR 90 (Bom HC) iv) Multiplex Trading & Industrial Co. Ltd., (2015) 94 CCH 30 (Del HC) v) Gujarat Eco Textile Park Ltd., (2015) 372 ITR 584 (Guj HC) vi) Samcor Glass Limited, ITA 768 and 769/Del/2015 (Delhi HC) dated 12th October 2015 5. The Ld. AR further argued that reopening is bad in law on mere change of opinion and, in the present case, no tangibl…

Chamatkar Properties and Investment P.Ltd, Mumbai vs. ITO 6(2)(1), Mumbai

Appeal of the assessee is allowed

ITA 5435/MUM/2015[2006-07]Status: DisposedITAT Mumbai29 Jan 2016AY 2006-07

Bench: Shri Amit Shukla, Jm & Shri Rajesh Kumar, Am आयकर अपील सं./I.T.A. No. 5435/M/2015 ("नधा"रण वष" / Assessment Year: 2006-07)

For Appellant: Shri Rajesh Ojha
Section 131Section 139(1)Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 68

…e letter no. ITO -6 (2) -148 –CP& TPL/2013. dated 10.03.2014 whereas the assessment was framed vide order dated 13.03.2014 just 3 days after which was in violation of the decision of the jurisdictional High Court in the case of Asian Paints Ltd V DCIT (2008)296 ITR 90(Bom). The ld. Counsel also pointed out that there was no failure on the part of the asesessee to disclose all material facts relating to the share applicants and conversion thereof 11 I.T.A. No. 5435/M/2015 (A.Y: 2006-07) Chamatkar Properties &Investments Pvt. Ltd. Vs.ITO &CIT (A) into share capital and also qua corporate loans which were duly…

Gautamchand Kanuga (HUF), Bhiwandi vs. DCIT Cir 1, Kalyan

In the result, the appeal filed by the assessee is allowed

ITA 4260/MUM/2012[2003-04]Status: DisposedITAT Mumbai08 Jan 2016AY 2003-04

Bench: Shri N.K. Billaiya & Shri Sanjay Gargassessment Year: 2003-04 Shri Gautamchand Kanuga, Dcit, House No.439, Flat No.1, Circle – 1, Kalyan, 1St Floor, Mohan Plaza, Sumita Building, Vs. Gokulnagar, Kasarali, Wayale Nagar, Bhiwandi Khadakpada, Pan: Abgpk 2083A Kalyan (W) (Appellant) (Respondent) Assessment Year: 2003-04 Shri Gautamchand Kanuga Dcit, (Huf), Bhiwandi Circle – 1, Kalyan, 1St Floor, Mohan Plaza, House No.439, Flat No.1, Vs. Sumita Building, Wayale Nagar, Gokulnagar, Kasarali, Khadakpada, Bhiwandi Kalyan (W) Pan: Abgpk 2083A (Appellant) (Respondent)

For Appellant: Dr. P. Daniel, A.RFor Respondent: Shri H.M. Wanare, D.R
Section 143(3)Section 147

…once the AO rejects the objection filed by the assessee, then in such a case the AO should not proceed further in the matter for a period of 4 weeks. Reliance was placed on the decision of the Hon'ble Jurisdictional High Court in the case of Asian Paints Ltd. 296 ITR 90 and Aroni Commercials Ltd. 362 ITR 403. 7. Per contra, the Ld. Departmental Representative strongly supported the orders of the authorities below. It is the say of the Ld. DR that the assessment was reopened on the basis of tangible material evidence in the form of report received from the Investigation Wing, Mumbai and therefore it cannot be said…

Gautamchand Kanuga, Bhiwandi vs. DCIT Cir 1, Kalyan

In the result, the appeal filed by the assessee is allowed

ITA 4259/MUM/2012[2003-04]Status: DisposedITAT Mumbai08 Jan 2016AY 2003-04

Bench: Shri N.K. Billaiya & Shri Sanjay Gargassessment Year: 2003-04 Shri Gautamchand Kanuga, Dcit, House No.439, Flat No.1, Circle – 1, Kalyan, 1St Floor, Mohan Plaza, Sumita Building, Vs. Gokulnagar, Kasarali, Wayale Nagar, Bhiwandi Khadakpada, Pan: Abgpk 2083A Kalyan (W) (Appellant) (Respondent) Assessment Year: 2003-04 Shri Gautamchand Kanuga Dcit, (Huf), Bhiwandi Circle – 1, Kalyan, 1St Floor, Mohan Plaza, House No.439, Flat No.1, Vs. Sumita Building, Wayale Nagar, Gokulnagar, Kasarali, Khadakpada, Bhiwandi Kalyan (W) Pan: Abgpk 2083A (Appellant) (Respondent)

For Appellant: Dr. P. Daniel, A.RFor Respondent: Shri H.M. Wanare, D.R
Section 143(3)Section 147

…once the AO rejects the objection filed by the assessee, then in such a case the AO should not proceed further in the matter for a period of 4 weeks. Reliance was placed on the decision of the Hon'ble Jurisdictional High Court in the case of Asian Paints Ltd. 296 ITR 90 and Aroni Commercials Ltd. 362 ITR 403. 7. Per contra, the Ld. Departmental Representative strongly supported the orders of the authorities below. It is the say of the Ld. DR that the assessment was reopened on the basis of tangible material evidence in the form of report received from the Investigation Wing, Mumbai and therefore it cannot be said…