3i Infotech Ltd. v. ACIT

SHAH RUKH KHAN,MUMBAI vs. DCIT CENTRAL CIRCLE 4(2), MUMBAI

In the result, the appeal by the assessee is allowed

Bench: Shri Sandeep Singh Karhailshri Girish Agrawalshah Rukh Khan, 44, Mannat, Bj Road, Bandstand, Bandra, Mumbai - 400050 Pan: Aahpk3293L ……………. Appellant V/S Dcit, Central Circle – 4(2) Kautilya Bhavan, Bandra Kurla Complex, Bandra East, ……………. Respondent Mumbai - 400050 Maharashtra

…ssive loss or depreciation allowance or any other allowance under this Act has been computed," 7.8. The appellant's case does gets covered by the above explanation. 7.9. Useful guidance is received from the decision by Hon'ble Jurisdictional HC in the case of 329 ITR 257, 3i Infotech Ltd vs ACIT (Bom HC) 2010, wherein it was held as under: “The Explanation 1 to section 147 stipulates Assessing Officer of account books or other evidence from which material evidence could, with due diligence, have been discovered by the Assessing Officer will not necessarily amount to a disclosure within the meaning of the first pr…

DCIT CC -4(4), MUMBAI, MUMBAI vs. SANMAN TRADE IMPEX LIMITED, MUMBAI

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

…362) (Guj) 8.2 This objection was raised by the assessee before the Ld. CIT(A) also however, the Ld. CIT(A) rejected the contention of the assessee following the decision of the Hon'ble Jurisdictional High Court in the case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC), in view of fresh information gathered in the form of survey report, statement of the employees and other evidence pursuant to the survey. The relevant finding of the Ld. CIT(A) is reproduced as under: “5.1. I have perused the reasons for reopening produced by the appellant. It is seen that the AO has received information from the Invest…

DCIT CC -4(4), MUMBAI, MUMBAI vs. SANMAN TRADE IMPEX LIMITED, MUMBAI

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

…362) (Guj) 8.2 This objection was raised by the assessee before the Ld. CIT(A) also however, the Ld. CIT(A) rejected the contention of the assessee following the decision of the Hon'ble Jurisdictional High Court in the case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC), in view of fresh information gathered in the form of survey report, statement of the employees and other evidence pursuant to the survey. The relevant finding of the Ld. CIT(A) is reproduced as under: “5.1. I have perused the reasons for reopening produced by the appellant. It is seen that the AO has received information from the Invest…

DCIT CC 4 (4), MUMBAI, MUMBAI vs. SANMAN TRADE IMPEX LIMITED, MUMBAI

In the result, appeals of the Revenue are dismissed dismissed whereas appeals of the assessee are partly allowed appeals of the assessee are partly allowed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

…f the assessee following the decision of the Hon’ble Jurisdictional High Court in following the decision of the Hon’ble Jurisdictional High Court in following the decision of the Hon’ble Jurisdictional High Court in the case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC) e case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC) e case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC), in view of fresh information gathered in the form of survey report, view of fresh information gathered in the form of survey report, view of fresh information gathered in the form of survey report, statement of t…

DCIT CC 4 (4), MUMBAI, MUMBAI vs. SANMAN TRADE IMPEX LIMITED, MUMBAI

In the result, appeals of the Revenue are dismissed dismissed whereas appeals of the assessee are partly allowed appeals of the assessee are partly allowed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

…f the assessee following the decision of the Hon’ble Jurisdictional High Court in following the decision of the Hon’ble Jurisdictional High Court in following the decision of the Hon’ble Jurisdictional High Court in the case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC) e case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC) e case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC), in view of fresh information gathered in the form of survey report, view of fresh information gathered in the form of survey report, view of fresh information gathered in the form of survey report, statement of t…

DCIT CC 4(4), MUMBAI, MUMBAI vs. SANMAN TRADE IMPEX LIMITED, MUMBAI

In the result, appeals of the Revenue are dismissed dismissed whereas appeals of the assessee are partly allowed appeals of the assessee are partly allowed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

…f the assessee following the decision of the Hon’ble Jurisdictional High Court in following the decision of the Hon’ble Jurisdictional High Court in following the decision of the Hon’ble Jurisdictional High Court in the case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC) e case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC) e case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC), in view of fresh information gathered in the form of survey report, view of fresh information gathered in the form of survey report, view of fresh information gathered in the form of survey report, statement of t…

DCIT CC 4(4), MUMBAI, MUMBAI vs. SANMAN TRADE IMPEX LIMITED, MUMBAI

The appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

…362) (Guj) 8.2 This objection was raised by the assessee before the Ld. CIT(A) also however, the Ld. CIT(A) rejected the contention of the assessee following the decision of the Hon'ble Jurisdictional High Court in the case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC), in view of fresh information gathered in the form of survey report, statement of the employees and other evidence pursuant to the survey. The relevant finding of the Ld. CIT(A) is reproduced as under: “5.1. I have perused the reasons for reopening produced by the appellant. It is seen that the AO has received information from the Invest…

SANMAN TRADE IMPEX LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-4(4), MUMBAI, MUMBAI

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

…362) (Guj) 8.2 This objection was raised by the assessee before the Ld. CIT(A) also however, the Ld. CIT(A) rejected the contention of the assessee following the decision of the Hon'ble Jurisdictional High Court in the case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC), in view of fresh information gathered in the form of survey report, statement of the employees and other evidence pursuant to the survey. The relevant finding of the Ld. CIT(A) is reproduced as under: “5.1. I have perused the reasons for reopening produced by the appellant. It is seen that the AO has received information from the Invest…

SANMAN TRADE IMPEX LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX-CENTRAL CIRCLE 4(4), MUMBAI, MUMBAI

In the result, appeals of the Revenue are dismissed dismissed whereas appeals of the assessee are partly allowed appeals of the assessee are partly allowed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

…f the assessee following the decision of the Hon’ble Jurisdictional High Court in following the decision of the Hon’ble Jurisdictional High Court in following the decision of the Hon’ble Jurisdictional High Court in the case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC) e case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC) e case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC), in view of fresh information gathered in the form of survey report, view of fresh information gathered in the form of survey report, view of fresh information gathered in the form of survey report, statement of t…

SANMAN TRADE IMPEX LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-4(4), MUMBAI, MUMBAI

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

…362) (Guj) 8.2 This objection was raised by the assessee before the Ld. CIT(A) also however, the Ld. CIT(A) rejected the contention of the assessee following the decision of the Hon'ble Jurisdictional High Court in the case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC), in view of fresh information gathered in the form of survey report, statement of the employees and other evidence pursuant to the survey. The relevant finding of the Ld. CIT(A) is reproduced as under: “5.1. I have perused the reasons for reopening produced by the appellant. It is seen that the AO has received information from the Invest…

SANMAN TRADE IMPEX LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-4(4), MUMBAI, MUMBAI

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

…362) (Guj) 8.2 This objection was raised by the assessee before the Ld. CIT(A) also however, the Ld. CIT(A) rejected the contention of the assessee following the decision of the Hon'ble Jurisdictional High Court in the case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC), in view of fresh information gathered in the form of survey report, statement of the employees and other evidence pursuant to the survey. The relevant finding of the Ld. CIT(A) is reproduced as under: “5.1. I have perused the reasons for reopening produced by the appellant. It is seen that the AO has received information from the Invest…

SANMAN TRADE IMPEX LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAXCENTRAL CIRCLE-4(4), MUMBAI, MUMBAI

In the result, appeals of the Revenue are dismissed whereas

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

…362) (Guj) 8.2 This objection was raised by the assessee before the Ld. CIT(A) also however, the Ld. CIT(A) rejected the contention of the assessee following the decision of the Hon'ble Jurisdictional High Court in the case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC), in view of fresh information gathered in the form of survey report, statement of the employees and other evidence pursuant to the survey. The relevant finding of the Ld. CIT(A) is reproduced as under: “5.1. I have perused the reasons for reopening produced by the appellant. It is seen that the AO has received information from the Invest…

SANMAN TRADE IMPEX LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX- CENTRAL CIRCLE 4(4), MUMBAI, MUMBAI

In the result, appeals of the Revenue are dismissed dismissed whereas appeals of the assessee are partly allowed appeals of the assessee are partly allowed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

…f the assessee following the decision of the Hon’ble Jurisdictional High Court in following the decision of the Hon’ble Jurisdictional High Court in following the decision of the Hon’ble Jurisdictional High Court in the case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC) e case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC) e case of 3i Infotech Ltd. v. ACIT (2010) 329 ITR 257 (Bom HC), in view of fresh information gathered in the form of survey report, view of fresh information gathered in the form of survey report, view of fresh information gathered in the form of survey report, statement of t…

M/S WF ASIAN SMALLER COMPANIES FUND LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX INTERNATIONAL TAXATION CIRCLE 4(3)(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.459/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14) M/S. Wf Asian Smaller बिधम/ Acit, Circle-4(3)(2) Companies Fund Ltd Room No. 1611, 16Th Vs. C/O Ankul Goyal, Azb & Floor, Air India Building, Partners A8, Sector-4, Nariman Point, Mumbai- Noida 201301. 400021. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaacw5648R (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Deepak Chopra/Ankul Goyal Revenue By: Shri Soumedu Kumar Dash (Sr. Dr) सुनवाई की तारीख / Date Of Hearing: 28/03/2023 घोषणा की तारीख /Date Of Pronouncement: 23/06/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Against The Order Passed By The Ao Dated 19.01.2023 U/S 147 R.W.S 144C(13) Of The Income Tax Act, 1961 (Hereinafter “The Act”) Pursuant To The Direction Issued By The Ld. Dispute Resolution Panel (Drp) For Ay. 2013-14. 2. The Assessee Has Raised The Legal Issue Challenging The Action Of The Ao To Have Reopened The Original-Scrutiny-Assessment U/S 143(3) Of The Act, After Four (4) Years [From The End Of The Relevant Assessment Year] Without Satisfying The Additional Condition Precedent As Prescribed In The Proviso To Section 147(1) Of The Act. Since The Assessee Has Raised The Legal Issue Assailing The Jurisdiction Of Ao To Have Issued Notice U/S 148 Of The Act, Proposing Re-Opening Of The Original Assessment [Framed Under Scrutiny Under Section 143(3) Of The Act], We Will Adjudicate It First. For Appreciating The Legal Issue, Let Us

…nion on a subject matter, entry, claim, deduction. When the Assessing Officer fails to examine a subject matter, entry, claim or deduction, he forms no opinion. It is a case of no opinion. 26. In 3i Infotech Ltd. v. Assistant Commissioner of Income Tax [2010] 329 ITR 257 (Bom.) it was observed that producing voluminous record before the Assessing Officer does not absolve the assessee and the assessee cannot be heard to say that if the Assessing Officer were to conduct a further inquiry, he would have come into possession of material evidence with the exercise of due diligence. Assessments can be complex and requi…

DCIT(LTU) - 1, MUMBAI vs. ACC LTD., MUMBAI

In the result, appeal filed by assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

…on the assessment records and the entire basis for reopening the assessment was the disclosure which has been made by the assessee in the course of the assessment proceedings a Division Bench of this Court in 3iInfotechLtd. v. Asstt. CIT [2010] 192 Taxman 137/329 ITR 257 held that it cannot be postulated that the condition precedent to the reopening of an assessment has been fulfilled. 8. We are satisfied that not only material facts were disclosed to the petitioner truly and fully, but they were carefully scrutinized and figures of income as well as deduction were viewed carefully by the Assessing Officer. In th…

ACC LTD.,MUMBAI vs. ADDL CIT(LTU) , MUMBAI

In the result, appeal filed by assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

…on the assessment records and the entire basis for reopening the assessment was the disclosure which has been made by the assessee in the course of the assessment proceedings a Division Bench of this Court in 3iInfotechLtd. v. Asstt. CIT [2010] 192 Taxman 137/329 ITR 257 held that it cannot be postulated that the condition precedent to the reopening of an assessment has been fulfilled. 8. We are satisfied that not only material facts were disclosed to the petitioner truly and fully, but they were carefully scrutinized and figures of income as well as deduction were viewed carefully by the Assessing Officer. In th…

MERCK PERFORMANCE MATERIALS PVT LTD. ,MUMBAI vs. ASST CIT 15(2)(2) , MUMBAI

Bench: Shri Shamim Yahya & Shri Rahul Chaudharyआयकर अपील सं/ I.T.A. No. 1210/Mum/2020 (निर्धारण वर्ा / Assessment Year: 2011-12) Merck Performance Materials बिधम/ The Assistant Pvt. Ltd., (Formerly Known As Commissioner Of Income Vs. Chemtreat Composites India Tax – 15(2)(2), Mumbai, Pvt. Ltd.) Aayakar Bhavan, Godrej One, Pirojsha Nagar, M.K. Road, Eastern Express Highway, Mumbai - 400020 Vikhroli (East), Mumbai- 400079 Pan : Aabcc5609B (अपीलाथी /Appellant) : (प्रत्यथी) / Respondent) For The Appellant/Assessee: Arati Vissanji For The Respondent/Revenue: C.T. Mathews सुनवाई की तारीख / Date Of Hearing : 03.02.2022 घोषणा की तारीख /Date Of Pronouncement : 13.04.2022 आदेश / O R D E R Per Rahul Chaudhary: 1. By Way Of The Present Appeal The Appellant/Assessee Has Challenged The Order Dated, 02.12.2019 Passed By The Ld. Commissioner Of Income Tax (Appeals)- 24, Mumbai (Hereafter Referred To As „The Cit(A)‟] Under Section 250 Of The Income Tax Act, 1961 (Hereafter Referred To As „The Act‟), Whereby The Ld. Cit(A) Had Dismissed The Appeal Against The Assessment Order, Dated 29.12.2017, Passed Under Section 143(3) Read With Section 147 Of The Act.

…ure on the part of Respondent to disclose truly and fully all material facts which would warrant reopening of an assessment.” (Emphasis Supplied) 12. The jurisdiction High Court, in the case of 3i Infotech Ltd. vs. Assistant Commissioner of Income Tax (2010) 329 ITR 257 also relied upon by the Authorised Representative of the Appellant, has held as under: “12. The record before the Court, to which a reference has been made earlier, is clearly reflective of the position that during the course of the assessment proceedings the assessee had made a full and true disclosure of all material facts in relation to the a…

LANDMARK EDUCATION INDIA,MUMBAI vs. ITO (E) II (1), MUMBAI

The appeal of the assessee is allowed

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year 2008-09 Landmark Education India, Income Tax Officer B-206, Bhaveshwar Plaza, (Exemption)-Ii(1), बनाम/ Lbs Marg, Ghatkopar (W), Piramal Chambers, Vs. Mumbai 400086 Lalbaug, Parel, Mumbai-400012 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aaatl0059L

…SC) (para 50) Indian and Eastern Newspaper Society v. CIT [1979] 119 ITR 996 (SC) (paras 34, 35) Indian Hume Pipe Co. Ltd. v. Asst. CIT [2012] 348 ITR 439 (Bom) (para 17) ITA. No.4871/Mum/2014 16 Landmark Education India 3i Infotech Ltd. v. Asst. CIT [2010] 329 ITR 257 (Bom) (para 26) International Woollen Mills v. Standard Wool (U. K.) Ltd. [2001] 5 SCC 265 (para 30) Kalyanji Mavji and Co. v. CIT [1976] 102 ITR 287 (SC) (paras 9, 33, 34, 35) KLM Royal Dutch Airlines v. Asst. Director of I. T. [2007] 292 ITR 49 (Delhi) (para 12) Kunhayammed v. State of Kerala [2000] 245 ITR 360 (SC) (para 31) Maharaj Kumar Kama…

ACIT (E) 20(3), MUMBAI vs. SEEMA DILIP VORA, MUMBAI

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwalassessment Year:2007-08 Acit-20(3), Ms. Seema Dilip Vora, Room No.622, 71/72, Rajkamal Apartment बनाम/ Piramal Chambers, Lalbaug, Rajkamal Marg, Rajkamal Vs. Mumbai Studio, Near Gandhi Hospital, Parel, Mumbai-400012 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No. Aabpv0816C

…ra 10) ITO v. Habibullah (S. K.) [1962] 44 ITR 809 (SC) (para 50) Indian and Eastern Newspaper Society v. CIT [1979] 119 ITR 996 (SC) (paras 34, 35) Indian Hume Pipe Co. Ltd. v. Asst. CIT [2012] 348 ITR 439 (Bom) (para 17) 3i Infotech Ltd. v. Asst. CIT [2010] 329 ITR 257 (Bom) (para 26) International Woollen Mills v. Standard Wool (U. K.) Ltd. [2001] 5 SCC 265 (para 30) Kalyanji Mavji and Co. v. CIT [1976] 102 ITR 287 (SC) (paras 9, 33, 34, 35) KLM Royal Dutch Airlines v. Asst. Director of I. T. [2007] 292 ITR 49 (Delhi) (para 12) Kunhayammed v. State of Kerala [2000] 245 ITR 360 (SC) (para 31) Maharaj Kumar Kama…