254 ITR 657 (Del); Hardillia Chemicals Ltd. v. CIT

Fateh Chand Charitable Trust, Muzaffarnagar vs. Addl. CIT, Meerut

In the result, the Appeal of the assessee is dismissed

Bench: Shri H.S. Sidhu

…ire income during the reassessment proceedings was left open, that question did not come up for consideration in the case of H. R. Sri Ramulu [1977] 39 STC 177 (SC) or H. M. Esufali's case [1973] 90 ITR 271 (SC) or even in V. Jaganmohan Rao's case [1970] 75 ITR 373 (SC). Some of the High Courts, therefore, fell in error in reading those judgments, divorced from the context in which the precise questions came up for consideration in those cases, and to hold that the assessee could" reagitate " the concluded issues and claim relief in respect of items finally concluded in the original assessment proceed…

M/S. Avenue Asia Advisors Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is allowed for statistical purpose

Bench: Smt. Diva Singh & Sh. O.P. Kantassessment Year: 2009-10 Avenue Asia Advisors Pvt. Vs. Dcit, Circle-2(1), Lower Ground Floor, C-4/5, New Delhi. Safdarjung Development Area, New Delhi (Pan: Aadcp7362G) (Appellant) (Respondent) Appellant By : S/Sh. Mukesh Butani, Vishal Kalra & Vivek Bansal, Adv. & Ms. Shweta Kashyap, Ca Respondent By : Sh. Anand Kumar Kedia, Cit(Dr) Date Of Hearing: 26.10.2015 Date Of Pronouncement: 22.01.2016 Order Per O.P. Kant, A.M.: The Present Appeal By The Assessee Is Directed Against The Order Dated 10.10.2013 Of The Deputy Commissioner Of Income-Tax, Circle-2(1), New Delhi Under Section 143(3) R.W.S. 144C Of The Income-Tax Act, 1961 (For Short “The Act”) In Relation To Assessment Year 2009-10. The Grounds Of Appeal Raised By The Assessee Are As Under: 1. That The Learned Assessing Officer ("Ao") Erred On The Facts & Circumstances Of The Case & In Law In Making An Addition To The Total Income Of The Appellant Amounting To Rs. 95,945,630/- In Pursuance To The Directions Of The Hon'Ble Dispute Resolution Panel ("Drp") Upholding The Adjustment To The Transfer Price Proposed By The Learned Transfer Pricing Officer ("Tpo").

…ain the true principle laid down by the decision of this court and not to pick out words or sentences from the judgment, divorced from the context of the questions under consideration by this court to support their reasonings. (x) Jaganmohan Rao (V.) vs. CIT, 75 ITR 373 (SC) for the proposition that Picking up word/sentence from judgment divorced from context not permissible. Judgements are to be read as a whole. 65. Hence, while adjudicating transfer pricing cases, we are of the opinion that there is no legal binding precedence on the issue of selection of most appropriate method, selection of comparable compani…

CIT` vs. Food Corporation of India

The appeal of the Revenue is allowed to this extent

Bench: It Questioning The Decision Of The Cit (Appeals) To Delete The Disallowance Of {593.09 Lakhs On Account Of Prior Period Expenses On The Ground That Since The Reopening Of The Assessment In Respect Of Prior Period Expenses Has Been Held By It To Be Bad In Law, The Ground Had Become Infructuous. The Brief Facts Necessary For Deciding The Appeal Are That The Assessment Of The Assessee For The Assessment Year 2004-05 Was Reopened For Three Reasons, Which Were Recorded By The Assessing Officer As Follows: - O Digitally Signed By:Amulya Signature Not Verified

…s ground has become infructuous and ,r /1. 'tj' accordingly dismissed the same. The Revenue urges on the strength of the judgment of the Supreme Court in V. Jagmohan Rao and Others v. Commissioner of Income-Tax and Excess Profits Tax, Andhra Pradesh, (1970) 75 ITR 373 that once an assessment is reopened on a particular ground, it is open to the Assessing Officer to rope in all items of income that have escaped assessment and the reassessment proceedings are not confined to the ground or the reason for which the assessment was reopened. In other words, the jurisdiction of the Assessing Offrcer in reassessment pr…

CIT vs. Food Corporation of India

The appeal of the Revenue is allowed to this extent

…become infructuous and accordingly dismissed the same. . . . The Revenue urges on the strength of the judgment of the Supreme Court in V. Jagmohan Rao and Others v. Commissioner of Income-Tax and Excess Profits Tax, Andhra Pradesh, (1970) 75 ITR 373 that once an assessment is reopened on a particular ground, it is open to the Assessing Officer to rope in all items of income that have escaped assessment and the reassessment proceedings are not confined to the ground or the reason for which the assessment was reopened. In other words, the jurisdiction of the Assessing Officer in…

The Commissioner of Income Tax II vs. Software Consultants

…ITA No. 914/2010 Page 1 of 10 $~26. *IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 914/2010 THE COMMISSIONER OF INCOME TAX II..... Appellant Through Mr. Kiran Babu, Sr. Standing Counsel. versus SOFTWARE CONSULTANTS ..... Respondent Through Mr. Salil Aggarwal, Advocate. CORAM: HON'BLE MR. JUSTICE SANJIV KHANNA HON'BLE MR. JUSTICE R.V.EASWAR O R D E R % 17.01.2012 Thi…

Airport Authority of India vs. Commissioner of Income Tax Delhi I

Appeals are disposed of in the aforesaid terms

Bench: CASES PERTAINING TO FULL BENCHES

…* IN THE HIGH COURT OF DELHI AT NEW DELHI Judgment Reserved On: 2.12.2011 % Judgment Pronounced On: 16.12. 2011 + IT A 792/2008 AIRPORT AUTHORITY OF INDIA ... APPELLANT Through :. Mr. O.S. Bajpai, Sr. Advocate with Ms. Manasvini Bajpai and Mr. V.N. Jha, Advocates. VERSUS COMMISSIONER OF INCOME TAX ... RESPONDENT Through: Mr. Kamal Sawhney, Sr. Standing Counsel. CORAM:- HON'BLE THE ACTING CHIEF JUSTICE HON'BLE MR. JUSTICE RAJIV SHAKDHER HON'BLE MR. JUSTICE R.V. EASW AR A.K. SIKRI, ACTING CHIEF JUSTICE: For orders, see ITA 432/2008. DECEMBER 16, 2011 skb 1!;!':1~ ACTING CHIE; JUSTICE 7jwJ…

Airports Authority of India vs. Commissioner of Income Tax

Appeals are disposed of in the aforesaid terms

…ITA Nos.ITA 432/2008,433/2008,ITA 437/2008,ITA 517/2008 Page 1 of 26 ITA 792/2008,ITA 1250/2008,ITA 1251/2008 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 432 OF 2008 ITA 433 OF 2008 ITA 437 OF 2008 ITA 517 OF 2008 ITA 792 OF 2008 ITA 1250 OF 2008 ITA 1251 OF 2008 Judgment Reserved On: 2.12.2011 % Judgment Pronounced On:16.12.2011 (1) ITA 432/2008 AIRPORT AUTHORITY OF INDIA . . . APPELLANT Through :. Mr. O.S. Bajpai, Sr. Advocate with Ms. Manasvini Bajpai and Mr. V.N. Jha, Advocates. VERSUS C…

M/s Jay Bharat Maruti Ltd vs. Commissioner of Income Tax

In the result the appeal is allowed and

…he following principles of law have been enumerated:- (i) Initiation of reassessment proceedings would not mean that the original assessment proceedings are set aside or wiped out. The decision of the Supreme Court in Jaganmohan Rao (V.) vs CIT; (1970) 75 ITR 373 is explained. (ii) The proceedings under Section 147 of the Act are for the benefit of the Revenue and not for the assessee. (iii) The assessee cannot convert reassessment proceedings into review, appeal or revisional proceedings to re-agitate in reassessment proceeding matters which are finally concluded in the original assessment proceed…