273 (Del.) 5.ITO v. D.G. Housing Projects Ltd.

Au Small Finance Bank Limited, Jaipur vs. Principal Commissioner of Income Tax, Jaipur

In the result, the appeal of the assessee is dismissed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

…nion of India [2000] 112 taxman 465 (Delhi). 3. CIT vs Gabriel India Ltd. [1993] 71 Taxman 585 (Bom.) 4. CIT vs Vodafone Essar South Ltd [2012] 28 taxmann.com 273 (Del.) 5.ITO vs D.G. Housing Projects Ltd. [2012] 343 ITR 329 (Del.) 6. CIT vs Nirav Modi [2017] 291 CTR 245 (Bom.) 7. Flextronics Software Systems Ltd. vs CIT [2010] 128 TTJ 107 (Delhi) 8. P.C. Puri vs CIT [1984] 18 Taxman 158 (Del) 9. J.P. Srivastava & Sons (Kanpur) Ltd vs CIT [1978] 111 ITR 326 (All.) 10. CIT vs Nirmal Chemicals Works (P) Ltd. [2009] 222 CTR 593 (Guj.) 11. State Bank of India vs ACIT & Ors [2019] 411 ITR 664 (Bom.) 12. Subrata Banik…

Au Small Finance Bank Limited, Jaipur vs. Principal Commissioner of Income Tax, Jaipur-1

In the result both the appeals filed by the assessee in ITA

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

…be passed by the Ld. PCIT u/s 263 of the Act, where on part of the Ld. AO detailed enquiry has already been made. For this proposition, reliance can be placed on following judicial pronouncements: Commissioner of Income tax, Central-III v. Nirav Modi [2017] 291 CTR 245 (Bombay) “Once the Assessing Officer was satisfied with regard to the same, there was no further requirement on the part of the Assessing Officer to disclose his satisfaction in the Assessment Order passed thereon. Thus, this objection on the part of the Revenue, cannot be accepted.” Commissioner of Income tax v. Baboori Fibres Ltd [2014] 51 tax…

Castamet Works Private Limited, Kharwa vs. Principle Commissioner of Income Tax, Udaipur

…AO detailed enquiry has already been made. In support of the contentions 28 Castamet Works Private Limited vs. PCIT raised herein above, reliance is placed on following judicial pronouncements: • Commissioner of Income tax, Central –III vs. Nirav Modi [2017] 291 CTR 245 (Bombay) • Torrent Pharmaceuticals Ltd. vs. Deputy Commissioner of Income-tax, Circle-4(1)(2), Ahmedabad [2018] 97 taxmann.com 671 (Ahmedabad-Trib.) 30. In view of the above, the Ld. PCIT was not justified in arbitrarily holding that her action are supported by clause (a) of the Explanation 2 to Section 263 of the Act. Non Applicability of Claus…