Aryan Arcade Ltd. v. PCIT

412 ITR 277High Court2019#2794 most cited

What is Aryan Arcade Ltd. v. PCIT authority for?

An assessment order cannot be revised under Section 263 merely because the Commissioner holds a different belief or view, especially when the Assessing Officer has made full inquiry and taken a plausible view not unsustainable in law.

42

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2021 to 2025.

Also referred to as

Aryan Arcade Ltd. v. PCIT · section 263 · revision of assessment · erroneous and prejudicial · AO's full inquiry · plausible view of AO · Commissioner's different view · Malabar Industrial · Gujarat High Court 2019 · 412 ITR 277

Sections most often in play

Section 142(1)Section 143(3)Section 263Section 133(6)Section 144BSection 155BBESection 69CSection 115BBE
Read the full judgment

Issues it is cited on

section 80(p)section 80(p)(2)section 80(p)(2)(d)section 80p(1)section 2(1)section 194a(3)(v)section 194a(3)section 145(2)section 263(1)malabar industrialsection 254(1)section 80p(2)(d)

Judgments citing Aryan Arcade Ltd. v. PCIT

M/S. Bardoli Vibhag Gram Vikas Co.-Op.Credit Society Ltd., Surat vs. The Pr.. Commissioner of Income Tax, -2, Surat

In the result, appeal of the assessee is allowed

ITA 283/SRT/2019[2014-15]Status: DisposedITAT Surat11 May 2021AY 2014-15

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Virtual Hearing) आ.अ.सं./I.T.A No.283/Srt/2019 "नधा"रण वष"/Assessment Year: 2014-15 Bardoli Vibhag Gram Vikas Co.Op. Vs The Principal Credit Society Ltd., Commissioner Of Income Sahakar Sadan, Station Road, Tax-2, Surat. Bardoli, Surat. [Pan: Aaatb 8135 B] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओर से /Assessee By Shri Mitesh Modi – Ca राज"वक"ओर से /Revenue By Shri Ritesh Mishra – Cit-Dr सुनवाई की तारीख/ Date Of Hearing: 29.04.2021 उ"घोषणा क" तार"ख/Pronouncement On: 12.05.2021 आदेश /O R D E R Per Pawan Singh, Judicial Memeber: 1. This Appeal By The Assessee Is Directed Against The Order Of Ld. Principal Commissioner Of Income Tax-2, Surat Hereinafter Referred As “Ld. Pcit”, Passed Under Section 263 Of Income- Tax Act (Act) Dated 26.03.2019 For The Assessment Year (Ay) 2014-15. 2. Brief Facts Of The Case Are That The Assessee Is A Co-Operative Society Engaged In The Business Of Providing Credit Facility To Its Members By Accepting The Deposits From Members & Lending Money Them Too. The Assessee Filed Its Return Of Income For A.Y. 2014-15 On 21.08.2013 Declaring Nil Income. In The Computation Of Income, The Assessee Claimed Deduction 80P Of The Act Of Rs.7,03,56,728/-. The Return Of Income Was Bardoli Vibhag Gram Vikas Cooperative Credit Society Ltd., Vs. Pcit

Section 142(1)Section 143(3)Section 263Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…ar disallowances /issues was subject matter in the appeal filed by the revenue before Tribunal in A.Y. 2009-10, 2010-11 and 2012-13 and the assessee was allowed similar deductions. 13. The Hon'ble Jurisdictional High Court in Aryan Arcade Ltd., vs PCIT (2019) 412 ITR 277 (Gujarat) held that merely because Commissioner held a different belief that would not permit him to take the order in revision, it if further held that when Assessing Officer made full enquiry, he made up his mind, the notice of revision is not valid. (emphasis added by us). Further, Hon'ble Madras High Court in CIT Vs Mepco Bardoli Vibhag Gram…

The Sasme Co-Op. Society Ltd, Surat vs. Pr, CIT-2, Surat

In the result, appeal of the assessee is allowed

ITA 185/SRT/2020[2015-16]Status: DisposedITAT Surat03 Mar 2021AY 2015-16

Bench: Shri Pawan Singh, Hon'Ble & Dr. Arjun Lal Saini, Hon'Ble(Virtual Hearing) आ.अ.सं./I.Ta No.185/Srt/2020 िनधा"रण वष"/Assessment Year: 2015-16 The Sasme Co-Op. Society Ltd, Vs. The Principal Sasme Bhavan Kotsafil Main Commissioner Of Income Road, Surat – 395 003. Tax, Surat-2. [Pan: Aaaas 3507 M] अपीलाथ" / Appellant ""थ"/Respondent िनधा"रतीकीओर से/Assessee By Shri Hiren R.Vepari – Ar राज"कीओर से /Revenue By Shri Ritesh Mishra - Cit(Dr) सुनवाई की तारीख/ Date Of Hearing: 25.02.2021 उद्घोषणा की तारीख/Pronouncement On: 03.03.2021 आदेश /O R D E R Per Pawan Singh, Judicial Memeber: 1. This Appeal By Assessee Is Directed Against The Order Of Learned Principal Commissioner Of Income Tax, Surat-2, (Pcit), Passed Under Section 263 Of Income-Tax Act Dated 16Th March 2020. The Assessee Has Raised Following Grounds Of Appeal: “(1) The Principal Commissioner Of Income Tax Was Not Justified In Assuming Jurisdiction Under Section 263 Without Satisfying Conditions. (2) The Appellant Submits That The Principal Commissioner Of Income Tax Ought Not To Have Invoked Provision Of Section 263 On The Very Same Point On Which The Assessing Officer Had Made Enquiry & Had Taken Position. (3) The Appellant Further Submit The Principal Commissioner Of Income Tax Did Not Appreciate The Subtle Portion Of Law We Are Proceeding Under Section 263 Do Not Extend To Sustain A Principal Commissioner Of Income Tax Office To Take A Different View In The Same Matter. (5) The Learned Pcit Was Driving By Extraneous Consideration In Not Dropping The Proceeding Under Section 263.”

Section 143(3)Section 263Section 80P(2)(d)

…al)  Surat Vankar Sahakari Sangh Ltd., vs. ACIT [2016] 72 taxmann.com 169 (Guj)  PCIT Vs Totagars Co-operative Sales Society [2017] 78 taxman.com 169 (Karnataka)  Gujarat JHM Hotels Ltd., vs. PCIT, ITA No.301/SRT/2018.  Aryan Arcade Ltd., Vs. PCIT, [2019] 412 ITR 277 (Guj).  CIT Vs Mepco Industries Ltd., [2007] 207 CTR 642 (Mad).  Ranka Jewellers Vs. Addl. CIT [2010] 38 DTR 293 (Bom).  Grasim Industries Ltd Vs. CIT [2010] 321 ITR 92(Bom).  Skyline Builders Vs. CIT [2019] 412 ITR 182 (Ker).  CIT Vs. Sunil Lamba [2019] 412 ITR 480 (Delhi).  Siddh International Vs. CIT [2009] 19 DTR 281 (Ahd Trib.).  Shai…