Aggarwal and Modi Enterprises (Cinema Project) Co. Pvt. Ltd. v. CIT

381 ITR 469High Court2016#4260 most cited

What is Aggarwal and Modi Enterprises (Cinema Project) Co. Pvt. Ltd. v. CIT authority for?

The Assessing Officer must state in the reasons recorded for reopening an assessment that the appellant failed to disclose all material facts, that the AO had reasons to believe income had escaped assessment, and that there was fresh tangible material justifying the belief.

28

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2025.

Also referred to as

Aggarwal and Modi Enterprises v CIT · section 147 · reasons recorded · escapement of income · failure to disclose material facts · tangible material · notice under section 148

Sections most often in play

Section 143(3)Section 35ABBSection 37(1)Section 142(1)Section 143(2)Section 147Section 148Section 115AD

Issues it is cited on

section 80lacompensatory interestsection 35abbsection 80lsection 72acarry forward of lossessection 72related party transactionbusiness expediencyunabsorbed depreciationsection 41(1)computer software

Judgments citing Aggarwal and Modi Enterprises (Cinema Project) Co. Pvt. Ltd. v. CIT

CIT vs. Jagdish Prasad Gupta

ITA/935/2011HC Delhi18 Aug 2017

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MS. JUSTICE PRATHIBA M. SINGH

Section 260A

…as following the mercantile system. Therefore, the liability is not contingent but an accrued one. In support of his submissions, he placed reliance on, inter alia, the decisions in Aggarwal and Modi Enterprises (Cinema Project) Co. Pvt. Ltd. v. CIT (2016) 381 ITR 469 (Del) and Agya Ram v. CIT (2016) 386 ITR 545 (Del). 35. On the principle of accrual of income, Mr. Aggarwal relied on the decisions in CIT, Bombay City-I v. M/s. Shoorji Vallabhdas & Co. [1962] 46 ITR 144 (SC); Morvi Industries Ltd. v. CIT (Central), Calcutta [1971] 82 ITR 835 (SC); Godhra Electricity Co. Ltd. v. CIT [1997] 225 ITR 746 (…

Pr. Commissioner of Income Tax-10 vs. Jagdish Prashad Gupta

ITA/424/2016HC Delhi18 Aug 2017

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MS. JUSTICE PRATHIBA M. SINGH

Section 260A

…as following the mercantile system. Therefore, the liability is not contingent but an accrued one. In support of his submissions, he placed reliance on, inter alia, the decisions in Aggarwal and Modi Enterprises (Cinema Project) Co. Pvt. Ltd. v. CIT (2016) 381 ITR 469 (Del) and Agya Ram v. CIT (2016) 386 ITR 545 (Del). 35. On the principle of accrual of income, Mr. Aggarwal relied on the decisions in CIT, Bombay City-I v. M/s. Shoorji Vallabhdas & Co. [1962] 46 ITR 144 (SC); Morvi Industries Ltd. v. CIT (Central), Calcutta [1971] 82 ITR 835 (SC); Godhra Electricity Co. Ltd. v. CIT [1997] 225 ITR 746 (…

CIT vs. Jagdish Prasad Gupta

ITA/787/2011HC Delhi18 Aug 2017

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MS. JUSTICE PRATHIBA M. SINGH

Section 260A

…as following the mercantile system. Therefore, the liability is not contingent but an accrued one. In support of his submissions, he placed reliance on, inter alia, the decisions in Aggarwal and Modi Enterprises (Cinema Project) Co. Pvt. Ltd. v. CIT (2016) 381 ITR 469 (Del) and Agya Ram v. CIT (2016) 386 ITR 545 (Del). 35. On the principle of accrual of income, Mr. Aggarwal relied on the decisions in CIT, Bombay City-I v. M/s. Shoorji Vallabhdas & Co. [1962] 46 ITR 144 (SC); Morvi Industries Ltd. v. CIT (Central), Calcutta [1971] 82 ITR 835 (SC); Godhra Electricity Co. Ltd. v. CIT [1997] 225 ITR 746 (…

CIT vs. Jagdish Prasad Gupta

ITA/1535/2010HC Delhi18 Aug 2017

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MS. JUSTICE PRATHIBA M. SINGH

Section 260A

…as following the mercantile system. Therefore, the liability is not contingent but an accrued one. In support of his submissions, he placed reliance on, inter alia, the decisions in Aggarwal and Modi Enterprises (Cinema Project) Co. Pvt. Ltd. v. CIT (2016) 381 ITR 469 (Del) and Agya Ram v. CIT (2016) 386 ITR 545 (Del). 35. On the principle of accrual of income, Mr. Aggarwal relied on the decisions in CIT, Bombay City-I v. M/s. Shoorji Vallabhdas & Co. [1962] 46 ITR 144 (SC); Morvi Industries Ltd. v. CIT (Central), Calcutta [1971] 82 ITR 835 (SC); Godhra Electricity Co. Ltd. v. CIT [1997] 225 ITR 746 (…

CIT vs. Jagdish Prasad Gupta

ITA/711/2011HC Delhi18 Aug 2017

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MS. JUSTICE PRATHIBA M. SINGH

Section 260A

…as following the mercantile system. Therefore, the liability is not contingent but an accrued one. In support of his submissions, he placed reliance on, inter alia, the decisions in Aggarwal and Modi Enterprises (Cinema Project) Co. Pvt. Ltd. v. CIT (2016) 381 ITR 469 (Del) and Agya Ram v. CIT (2016) 386 ITR 545 (Del). 35. On the principle of accrual of income, Mr. Aggarwal relied on the decisions in CIT, Bombay City-I v. M/s. Shoorji Vallabhdas & Co. [1962] 46 ITR 144 (SC); Morvi Industries Ltd. v. CIT (Central), Calcutta [1971] 82 ITR 835 (SC); Godhra Electricity Co. Ltd. v. CIT [1997] 225 ITR 746 (…

Jagdish Prasad Gupta

ITA/695/2010HC Delhi18 Aug 2017

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MS. JUSTICE PRATHIBA M. SINGH

Section 260A

…as following the mercantile system. Therefore, the liability is not contingent but an accrued one. In support of his submissions, he placed reliance on, inter alia, the decisions in Aggarwal and Modi Enterprises (Cinema Project) Co. Pvt. Ltd. v. CIT (2016) 381 ITR 469 (Del) and Agya Ram v. CIT (2016) 386 ITR 545 (Del). 35. On the principle of accrual of income, Mr. Aggarwal relied on the decisions in CIT, Bombay City-I v. M/s. Shoorji Vallabhdas & Co. [1962] 46 ITR 144 (SC); Morvi Industries Ltd. v. CIT (Central), Calcutta [1971] 82 ITR 835 (SC); Godhra Electricity Co. Ltd. v. CIT [1997] 225 ITR 746 (…

Pr. Commissioner of Income Tax--6 vs. Meenakshi Overseas Pvt. Ltd

ITA/692/2016HC Delhi26 May 2017

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE CHANDER SHEKHAR

Section 139Section 143Section 143(1)Section 147Section 148Section 151(1)Section 260ASection 68

…013 (Commissioner of Income Tax-IV v. Independent Media P. Limited), Oriental Insurance Company Limited v. Commissioner of Income Tax (2015) 378 ITR 421 (Del), Rustagi Engineering Udyog (P.) Limited v. DCIT (2016) 382 ITR 443 (Del), Agya Ram v. CIT (2016) 386 ITR 545 (Del) and Rajiv Agarwal ITA 692/2016 Page 8 of 18 v. ACIT (decision dated 16th March, 2016 in Writ Petition (Civil) No. 9659 of 2015). 18. It must be noted at the outset that by an order dated 4th Nov…

Agya Ram vs. Income Tax Officer

The appeal is allowed in the above terms

ITA/637/2007HC Delhi23 Dec 2016

Bench: HON'BLE MR. JUSTICE VIKRAMAJIT SEN,HON'BLE MR. JUSTICE S.L.BHAYANA

Section 147Section 22Section 28

…to Assessment Years 1990-91, 1992-93 and 1993-94). All the three questions were answered in favour of the assessee and against the respondent Revenue in the judgment and order dated 01.08.2016 (reported since as Agya Ram Vs. Commissioner of Income Tax, (2016) 386 ITR 545). This being the undisputed position, the present appeal has to follow suit. It is accordingly allowed; the questions of law are answered in favour of the assessee and against the Revenue. 7. The appeal is allowed in the above terms. S. RAVINDRA BHAT, J. NAJMI WAZIRI, J. DECEMBER 23, 2016 sb…