Asian Paints Ltd. v. DCIT

308 ITR 195High Court2009#551 most cited

What is Asian Paints Ltd. v. DCIT authority for?

An Assessing Officer cannot issue a notice under Section 148 to reopen an assessment when all material facts were already before the AO during the original assessment, even if the AO failed to apply their mind at that time. Such an action constitutes an impermissible review of a concluded assessment rather than a reassessment based on fresh tangible material.

175

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2015 to 2026.

Also referred to as

Asian Paints Ltd. v. DCIT · Section 148 · Section 147 · reopening of assessment · mere change of opinion · full and true disclosure · tangible material · escapement of income · concluded assessment · original assessment facts

Also reported as

231 CTR 233

Sections most often in play

Section 148Section 147Section 143(3)Section 151Section 133ASection 142(1)Section 143(2)Section 250

Issues it is cited on

perquisite valuekelvinatormere change of opinionfresh tangible materialfull and true disclosurechange of opinionmaterial facts necessary for assessmenttangible materialreason to believelive linkreopening of assessmentescapement of income

Judgments citing Asian Paints Ltd. v. DCIT

M/S J P Distilleries Private Limited, Bangalore vs. The Income Tax Officer Ward-4(1)(1), Bangalore

In the result appeal filed by assessee stands allowed

ITA 51/BANG/2019[2011-12]Status: DisposedITAT Bangalore08 Mar 2021AY 2011-12

Bench: Shri. B.R Baskaran & Smt. Beena Pillaiassessment Year : 2013-14

For Appellant: Shri C Ramesh, C.AFor Respondent: Shri Kannan Narayanan, JCIT
Section 143(3)Section 147Section 28

…of the act could not have been invoked. i) Rallies India Ltd Vs. ACIT & Another (2010) 323 ITR 54 (Bom) ii) CIT V. (I) Kelvinator of India Ltd (ii) Eicher Ltd (2010) 320 ITR 561 (SC) iii) Asian Paints Ltd V. Deputy Commissioner of Income Tax & Another (2009) 223 CTR 141 (Bom) iv) CIT V. Younus Kunju (1997) 228 ITR 147 (Kerala) Page 3 of 11 10. The learned Commissioner of Income Tax (Appeals) erred in ignoring the position of law laid down by the Hon'ble Supreme Court in the case of ACIT V. Dhirendra Hansraj Singh, S.L.P (C) No.32237 of 2018 wherein it is held that: when there is no failure on the part of the as…

Addl. CIT, New Delhi vs. M/S. Ircon International Ltd., New Delhi

In the result, the appeal of the Revenue is accordingly dismissed

ITA 3768/DEL/2017[2009-10]Status: DisposedITAT Delhi22 Jan 2021AY 2009-10

Bench: Shri Amit Shukla & Shri O.P. Kant[Through Video Conferencing]

Section 143(3)Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘C’ NEW DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI O.P. KANT, ACCOUNTANT MEMBER [Through Video Conferencing] ITA No.3768/Del./2017 Assessment Year: 2009-10 Addl.CIT, Vs. IRCON International Ltd., Special Range-4, C-4, District Centre, Saket, New Delhi New Delhi PAN :AAACI0684H (Appellant) (Respondent) Appellant by Shri Gurmel Singh, Sr. DR Respondent by Dr. Rakesh Gupta, Adv. Date of hearing 06.01.2021 Date of pronouncement 22.01.2021 ORDER PER O.P. KANT, AM: This appeal by the Revenue is directed against order dated 10/02/2017 passed by the L…

Fgr Logistics Pvt Ltd, New Delhi vs. ACIT Circle-9(1), New Delhi

In the result, appeal of the Assessee allowed

ITA 4560/DEL/2019[2010-11]Status: DisposedITAT Delhi01 Jan 2021AY 2010-11

Bench: Shri Bhavnesh Saini & Shri Anil Chaturvedi

For Appellant: Shri Shantanu Jain, AdvocateFor Respondent: Mr. Sri Prakash Dubey, Sr.DR
Section 139Section 143(1)Section 143(3)Section 147Section 148Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “SMC-2” : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER ITA.No.4560/Del./2019 Assessment Year 2010-2011 FGR Logistics Pvt. Ltd., The ACIT, Circle 9(1), Shop No.3, Zakhira Chara [vs. Mandi, New Delhi. New Delhi. PIN 110 015 PAN AAACF5892N (Appellant) (Respondent) For Assessee : Shri Shantanu Jain, Advocate For Revenue : Mr. Sri Prakash Dubey, Sr.DR Date of Hearing : 23.12.2020 Date of Pronouncement : 01.01.2021 ORDER PER BHAVNESH SAINI, J.M. This appeal by assessee has been directed against the Order of the Ld.…

M/S. Ue Development India Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle- 7(1)(1), Bangalore

In the result, the ITA No

ITA 2381/BANG/2019[2011-12]Status: DisposedITAT Bangalore09 Dec 2020AY 2011-12

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Sharath Rao, C.AFor Respondent: Smt. R. Premi, JCIT (D.R)
Section 139Section 142(1)Section 143(3)Section 147Section 148

…s : i) CIT Vs. Hewlett Packard Globalsoft (P) Ltd. 79 taxmann.com 387 (Kar H C) ii) GMR Holdings (P) Ltd. Vs. DCIT 18 taxmann.com 153 (Bangalore – Trib.) iii) Asteroids Trading and Investments (P) Ltd. Vs. DCIT 308 ITR 190 (Bom) iv) Asian Paints Ltd. Vs. DCIT 308 ITR 195 (Bom) v) ICICI Prudential Life Insurance Co. Ltd. Vs. ACIT 231 CTR 233 (Bom) vi) Aventis Pharma Ltd. Vs. ACIT 323 ITR 570 (Bom) According to him there is no belief that the income escaped assessment, as such reassessment is bad in law. For this purpose he relied on judgment of Ganga Saran & Sons Pvt Ltd Vs. ITO & Others 130 ITR 1 (SC) and also d…

Tata Advanced Materials Limited, Bangalore vs. Deputy Commissioner of Income Tax Circle-12(4), Bangalore

In the result, the ITA No

ITA 2182/BANG/2018[2008-09]Status: DisposedITAT Bangalore28 Sept 2020AY 2008-09

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Sharath Rao, C.AFor Respondent: Smt. R. Premi, JCIT (D.R)
Section 139Section 142(1)Section 143(3)Section 147Section 148

…s : i) CIT Vs. Hewlett Packard Globalsoft (P) Ltd. 79 taxmann.com 387 (Kar H C) ii) GMR Holdings (P) Ltd. Vs. DCIT 18 taxmann.com 153 (Bangalore – Trib.) iii) Asteroids Trading and Investments (P) Ltd. Vs. DCIT 308 ITR 190 (Bom) iv) Asian Paints Ltd. Vs. DCIT 308 ITR 195 (Bom) v) ICICI Prudential Life Insurance Co. Ltd. Vs. ACIT 231 CTR 233 (Bom) vi) Aventis Pharma Ltd. Vs. ACIT 323 ITR 570 (Bom) According to him there is no belief that the income escaped assessment, as such reassessment is bad in law. For this purpose he relied on judgment of Ganga Saran & Sons Pvt Ltd Vs. ITO & Others 130 ITR 1 (SC) and also d…

M/S Tata Advanced Materials Limited, Bangalore vs. Deputy Commissioner of Income Tax Circle-12(4), Bangalore

In the result, the ITA No

ITA 2181/BANG/2018[2005-06]Status: DisposedITAT Bangalore28 Sept 2020AY 2005-06

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Sharath Rao, C.AFor Respondent: Smt. R. Premi, JCIT (D.R)
Section 139Section 142(1)Section 143(3)Section 147Section 148

…s : i) CIT Vs. Hewlett Packard Globalsoft (P) Ltd. 79 taxmann.com 387 (Kar H C) ii) GMR Holdings (P) Ltd. Vs. DCIT 18 taxmann.com 153 (Bangalore – Trib.) iii) Asteroids Trading and Investments (P) Ltd. Vs. DCIT 308 ITR 190 (Bom) iv) Asian Paints Ltd. Vs. DCIT 308 ITR 195 (Bom) v) ICICI Prudential Life Insurance Co. Ltd. Vs. ACIT 231 CTR 233 (Bom) vi) Aventis Pharma Ltd. Vs. ACIT 323 ITR 570 (Bom) According to him there is no belief that the income escaped assessment, as such reassessment is bad in law. For this purpose he relied on judgment of Ganga Saran & Sons Pvt Ltd Vs. ITO & Others 130 ITR 1 (SC) and also d…

Aditya Birla Telecom Ltd, Mumbai vs. Asst CIT 5(1), Mumbai

ITA 2350/MUM/2013[2007-08]Status: DisposedITAT Mumbai11 Aug 2020AY 2007-08

Bench: Sri Mahavir Singh, Vp & Sri Rajesh Kumar, Am आयकर अपील िं./ Ita No. 2350/Mum/2013 (निर्ाारण वर्ा / Assessment Year 2007-08) Vodafone Idea Limited The Asst. Commissioner Of (Successor To Aditya Birla Telecom Income Tax Limited) Aayaker Bhavan, M.K. Road, बिाम/ 10Th Floor, Birla Centurion, Century Churchgate, Mumbai Vs. Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) स्र्थायी लेखा िं./Pan No. Aaacb2100P अपीलार्थी की ओर े/ Appellant By : Shri Yogesh Thar, Ar प्रत्यर्थी की ओर े/ Respondent By : Shri Michael Jerald, Sr.Dr ुिवाई की तारीख / Date Of Hearing: 22.07.2020 घोर्णा की तारीख / Date Of Pronouncement: 11.08.2020 आदेश / O R D E R

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Michael Jerald, SR.DR
Section 143(2)Section 143(3)Section 147Section 148

…wer to re-open, provided there is "tangible material" lo come to the conclusion that there is escapement of income from assessment. Reasons must have a live link with the formation of the belief." 16. Further, in the case of Asian Paints Ltd. vs. DCIT [2009] 308 ITR 195 (Bombay) Hon'ble Bombay High Court has been held that the initiation of reassessment proceedings would amount to change of opinion of the AO as it was merely a fresh application of mind by the AO to the same set of facts and that since the AO had failed to apply his mind to the relevant material while framing the assessment order under section 14…

Medley Pharmaceuticals Ltd., Mumbai vs. Dy.C.I.T., Cent.Cir.10(2)(2), Mumbai

The appeal of the assessee is partly allowed

ITA 2344/MUM/2018[2012-13]Status: DisposedITAT Mumbai22 Jul 2020AY 2012-13

Bench: Shri G. Manjunatha & Shri Ravish Soodm/S Medley Pharmaceuticals Ltd. Dy. Commissioner Of Income D-2, Medley Houses, 16Th Road, Tax-10(2)(2), Vs. Midc Area, Andheri (East), Mumbai Mumbai – 400 093 Pan – Aaacm2764J (Appellant) (Respondent) Medley Pharmaceuticals Ltd. Dy. Commissioner Of Income Tax, D-2, Medley House, 16Th Road, Central Circle – 44, Vs. Midc Area, Andheri (East), Aayakar Bhavan, M.K. Road, Mumbai Mumbai Pan – Aaacm2764J (Appellant) (Respondent)

For Appellant: Shri Prakash Jothwani, A.RFor Respondent: Shri. H.N. Singh, D.R
Section 143(3)Section 147

…High Court in the case of Kelvinator of India Ltd. (supra) referred to above, that under s. 147 assessment cannot be reopened on a mere change of opinion.” We further find, that the Hon’ble High Court of Bombay in the case of Asian Paints Ltd. Vs. DCIT (2008) 308 ITR 195 (Bom) observing, that as no new information/material was received by the A.O, therefore, the fresh application of mind by the A.O to the same set of facts and material which were available on record at the time of framing of the assessment, but had inadvertently remained omitted to be considered would tantamount to review of order, which is not p…

Deepak Raheja, Mumbai vs. ACIT - 25 (2), Mumbai

In the result, appeal filed by the assessee is allowed for statistical purpose

ITA 6781/MUM/2018[2010-11]Status: DisposedITAT Mumbai22 Jan 2020AY 2010-11

Bench: Shri Saktijit Dey & Shri G. Manjunathadeepak Raheja Vs. Acit-25(2) 4Th Floor, Raheja Chamber Room No. 508,Bkc Linking Road & Main Avenue Pratyakshkar Bhawan Santacruz (West) Bandra(E) Mumbai-400 054 Mumbai-400 051 Pan/Gir No.Adqpr7160R Appellant) .. Respondent)

Section 143(3)Section 147Section 148Section 14ASection 249(1)

…pose of enhancing the disallowance to Rs.1,17,60,327/- is due to change of opinion and the reassessment is invalid on that ground. 2.3) The Learned Assessing Officer failed to follow the decision of the Jurisdictional High Court in Asian Paints Ltd vs. DCIT - 308 ITR 195 Bom. that mere change of opinion is not a ground for reassessment. 2.4) It is prayed that a) Assessee has filed the appeal In time on 18.04.2016. However, delay in filing appeal by electronically Is technical / procedural default, therefore, CIT(A) should have admitted the appeal filed manually in time and should have condone the delay of filing…

The Shipping Corporation of India Ltd., Mumbai vs. Addl.C.I.T. Ltu, Mumbai

In the result, the appeal filed by the assessee is allowed and the revenue’s appeal is dismissed

ITA 2548/MUM/2012[2005-06]Status: DisposedITAT Mumbai22 Jan 2020AY 2005-06

Bench: Shri Rajesh Kumar (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2005-06 The Shipping Corporation Of India The Additional Commissioner Limited, Of Income Tax (Ltu), Shipping House 10Th Floor, 29Th Floor, World Trade 245, Madam Cama Road, Vs. Centre, Colaba, Nariman Point, Mumbai - 400006 Mumbai - 400021 Pan: Aaact1524F (Appellant) (Respondent) & Assessment Year: 2005-06 The Acit-Ltu, M/S The Shipping Corporation 28Th Floor, Centre-1, Of India Limited, World Trade Centre, Cuffe Parade, 245, Madam Cama Road, Mumbai - 400005 Vs. Nariman Point, Mumbai - 400021 Pan: Aaact1524F (Appellant) (Respondent)

For Appellant: Shri Nitesh Joshi (AR)For Respondent: Shri R. Manjunatha Swamy (CIT)
Section 143Section 147Section 148

…of CIT vs. Kelvinator India Ltd. 320 ITR 561 (SC), the judgments of the Hon’ble Bombay Assessment Years: 2005-06 High Court in the case of CIT vs. Jet Speed Audio P. Ltd. 372 ITR (Bom), Idea Cellular Ltd. vs. DCIT 301 ITR 407 and Asian Paints Ltd. vs. DCIT 308 ITR 195, and the decision of the Mumbai Bench of the Tribunal in the assessee’s own case, ITA No. 2551 and 2129/Mum/2012 for the AY 2006-07 submitted that since the action of the AO of reopening the assessment is bad in law, the Ld. CIT (A) ought to have set aside the order passed by the AO. The Ld. counsel accordingly submitted that in view of the afore…

Addl CIT Ltu, Mumbai vs. The Shipping Corporation of India Ltd, Mumbai

In the result, the appeal filed by the assessee is allowed and the revenue’s appeal is dismissed

ITA 2128/MUM/2012[2005-06]Status: DisposedITAT Mumbai22 Jan 2020AY 2005-06

Bench: Shri Rajesh Kumar (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2005-06 The Shipping Corporation Of India The Additional Commissioner Limited, Of Income Tax (Ltu), Shipping House 10Th Floor, 29Th Floor, World Trade 245, Madam Cama Road, Vs. Centre, Colaba, Nariman Point, Mumbai - 400006 Mumbai - 400021 Pan: Aaact1524F (Appellant) (Respondent) & Assessment Year: 2005-06 The Acit-Ltu, M/S The Shipping Corporation 28Th Floor, Centre-1, Of India Limited, World Trade Centre, Cuffe Parade, 245, Madam Cama Road, Mumbai - 400005 Vs. Nariman Point, Mumbai - 400021 Pan: Aaact1524F (Appellant) (Respondent)

For Appellant: Shri Nitesh Joshi (AR)For Respondent: Shri R. Manjunatha Swamy (CIT)
Section 143Section 147Section 148

…of CIT vs. Kelvinator India Ltd. 320 ITR 561 (SC), the judgments of the Hon’ble Bombay Assessment Years: 2005-06 High Court in the case of CIT vs. Jet Speed Audio P. Ltd. 372 ITR (Bom), Idea Cellular Ltd. vs. DCIT 301 ITR 407 and Asian Paints Ltd. vs. DCIT 308 ITR 195, and the decision of the Mumbai Bench of the Tribunal in the assessee’s own case, ITA No. 2551 and 2129/Mum/2012 for the AY 2006-07 submitted that since the action of the AO of reopening the assessment is bad in law, the Ld. CIT (A) ought to have set aside the order passed by the AO. The Ld. counsel accordingly submitted that in view of the afore…

Asst. Comm. of Income Tax - 11(3)(1), Mumbai vs. Tpl Plastech Ltd., Mumbai

The appeal stands dismissed

ITA 6206/MUM/2017[2011-12]Status: DisposedITAT Mumbai07 Jan 2020AY 2011-12

Bench: Hon’Ble Shri C.N. Prasad, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ I.T.A. No.6206/Mum/2017 (िनधा"रण वष" / Assessment Year: 2011-12) Acit-11-(3)(1) M/S. Tpl Plastech Ltd. बनाम/ Room No.204, 2Nd Floor 10-11, Shivali Indl. Estate Aaykar Bhavan Andheri(E) Vs. M.K. Marg, Mumbai-400 020. Mumbai -400 072. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaact-1968-P (अपीलाथ"/Appellant) (""थ" / Respondent) : Assessee By : Shri Rakesh Joshi – Ld. Ar Revenue By : Shri Mayura Pratap-Ld.Dr सुनवाई की तारीख/ : 02/12/2019 Date Of Hearing घोषणा की तारीख / : 07/01/2020 Date Of Pronouncement आदेश / O R D E R

For Appellant: Shri Rakesh Joshi – Ld. ARFor Respondent: Shri Mayura Pratap-Ld.DR
Section 143(2)Section 143(3)Section 148

…sposed-off by way of speaking order which was in violation of the procedure laid down by Hon’ble Apex Court rendered in GKN Driveshafts India Ltd. V/s DCIT (259 ITR 19) and also the decision of Hon’ble Bombay High Court rendered in Asian Paints Ltd. V/s DCIT (296 ITR 96), IOT Infrastructure & Engg. Services Ltd. V/s ACIT (329 ITR 547) & Allana Cold Storage V/s ITO (287 ITR 1). 3.2 The assessee also pleaded that there was no tangible material before Ld. AO so as to form a belief that certain income escaped 5 M/s.TPL Plastech Limited Assessment Year :2011-12 assessment rather the belief was formed merely after goi…

Standard Chartered Investments & Loans (India) Ltd, Mumbai vs. DCIT 1(3), Mumbai

ITA 7068/MUM/2016[2005-06]Status: DisposedITAT Mumbai29 Nov 2019AY 2005-06

Bench: Shri S. Rifaur Rahman, Am & Shri Ravish Sood, Jm आयकरअपीलसं./ I.T.A. No. 7068/Mum/2016 (निर्धारणवर्ा / Assessment Year: 2005-06)

For Appellant: Shri Dhanesh Bafna & MsFor Respondent: Mrs. Snita Billa, DR
Section 143(2)Section 143(3)Section 147Section 148

…ge of opinion which is not permissible under section 147 of the Act, for that proposition learned AR relied on the following case law: 10 I.T.A. No. 7068/Mum/2016 M/s Standard Chartered Investments and Loans (India) Ltd. i) Asian Paints Ltd vrs. DCIT (2009) 308 ITR 195 (Bom) ii) Kotak Mahindra Asset Management Co. Ltd. vrs. ACIT (ITA No. 1815/Mum/2017) (Mum-Trib) iii) CIT vrs. Kelvinator of India Ltd. (2010) 187 taxman 312 (SC) iv) ICICI Prudential Life Insurance Co. Ltd. Vrs. ACIT (2010) 231 CTR 233 (Bom) 10. On the other hand, Ld. DR submitted that the post- amendment from 01.04.1989, the substituted sect…

The Shipping Corporation of India Ltd., Mumbai vs. Addl.C.I.T. Ltu, Mumbai

In the result the appeal filed by the Revenue is dismissed

ITA 2551/MUM/2012[2006-07]Status: DisposedITAT Mumbai29 Nov 2019AY 2006-07

Bench: Shri Mahavir Singh & Shri Waseem Ahmedआयकर अपील सं./Ita Nos.2551&2129/Mum/2012 नििाारण वर्ा/Asstt. Year:2006-07 The Shipping Corporation Of Additional Commissioner India Ltd. Vs. Of Income Tax Ltu Shipping House, 10Th Floor, 245, 29Th Floor, World Trade Madam Cama Road, Nariman Centre, Colaba, Mumbai- Point, Mumbai-400021 400006 Pan: Aaa Ct1 524 F Assistant Commissioner Of The Shipping Corporation Income Tax Ltu Of India Ltd. Centre-I, 28Th Floor, World Trade Shipping House, 10Th Centre, Cuffe Parade, Mumbai- Floor, 245, Madam Cama 400005 Road, Nariman Point, Mumbai-400021 Pan: Aaa Ct1 524 F

For Respondent: Shri R. Manjunatha Swamy
Section 11Section 143(1)Section 143(2)Section 143(3)Section 147Section 234D

…the basis of change of opinion which is not valid in the eyes of law. The learned AR in support of his contention referred to various case laws as detailed under: i- Idea Cellular Ltd. v/s DCIT (BOM HC) (301 ITR 407) ii- Asian Paints Ltd. v/s DCIT (BOM HC) (308 ITR 195) iii- CIT v/s Jet Speed Audio Pvt. Ltd. (BOM HC) (372 ITR 762) iv- State Bank of India (Mumbai) v/s ACIT writ petition no. 271 of 2018 10.4 The learned AR also claimed that the tribunal in the own case of the assessee involving identical facts and circumstances has decided the issue in favour of the assessee in ITA No. 145/MUM/2011 for the asses…

Addl CIT Ltu, Mumbai vs. The Shipping Corporation of India Ltd, Mumbai

In the result the appeal filed by the Revenue is dismissed

ITA 2129/MUM/2012[2006-07]Status: DisposedITAT Mumbai29 Nov 2019AY 2006-07

Bench: Shri Mahavir Singh & Shri Waseem Ahmedआयकर अपील सं./Ita Nos.2551&2129/Mum/2012 नििाारण वर्ा/Asstt. Year:2006-07 The Shipping Corporation Of Additional Commissioner India Ltd. Vs. Of Income Tax Ltu Shipping House, 10Th Floor, 245, 29Th Floor, World Trade Madam Cama Road, Nariman Centre, Colaba, Mumbai- Point, Mumbai-400021 400006 Pan: Aaa Ct1 524 F Assistant Commissioner Of The Shipping Corporation Income Tax Ltu Of India Ltd. Centre-I, 28Th Floor, World Trade Shipping House, 10Th Centre, Cuffe Parade, Mumbai- Floor, 245, Madam Cama 400005 Road, Nariman Point, Mumbai-400021 Pan: Aaa Ct1 524 F

For Respondent: Shri R. Manjunatha Swamy
Section 11Section 143(1)Section 143(2)Section 143(3)Section 147Section 234D

…the basis of change of opinion which is not valid in the eyes of law. The learned AR in support of his contention referred to various case laws as detailed under: i- Idea Cellular Ltd. v/s DCIT (BOM HC) (301 ITR 407) ii- Asian Paints Ltd. v/s DCIT (BOM HC) (308 ITR 195) iii- CIT v/s Jet Speed Audio Pvt. Ltd. (BOM HC) (372 ITR 762) iv- State Bank of India (Mumbai) v/s ACIT writ petition no. 271 of 2018 10.4 The learned AR also claimed that the tribunal in the own case of the assessee involving identical facts and circumstances has decided the issue in favour of the assessee in ITA No. 145/MUM/2011 for the asses…

Laxman D Daware, Mumbai vs. ITO 19 (2)(1), Mumbai

In the result, appeals of the assessee are partly allowed as indicated above

ITA 3464/MUM/2018[2011-12]Status: DisposedITAT Mumbai30 Sept 2019AY 2011-12

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

For Appellant: Shri Prakash PanditFor Respondent: Shri Chaitanya Anjaria
Section 133(6)Section 143(3)Section 145Section 147

…and therefore re-opening of assessment is only on mere change of opinion. Reliance is placed on the following decisions: - (i) Varshaben Shantabhai Patel vs. ITO (282 CTR 75) (ii) CIT v. Kelvinator India Ltd. [320 ITR 561 SC] (iii) Asian Paints Ltd. v. DCIT [308 ITR 195 Bom] (iv) CIT v. Prima Paper & Eng. Industry [364 ITR 222 Bom.] (v) PCIT v. Meenaxi India Ltd. [395 ITR 677 Delhi] PCIT v. RMG Polyviny [396 ITR 5 Delhi] (vi) 6. Coming to the merits of the case, it is submitted that assessee produced books of account, bills, and vouchers for verification. Assessee also produced item wise stock registers, purcha…

Laxman D. Daware, Mumbai vs. ITO 19(2)(1), Mumbai

In the result, appeals of the assessee are partly allowed as indicated above

ITA 3463/MUM/2018[2010-11]Status: DisposedITAT Mumbai30 Sept 2019AY 2010-11

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

For Appellant: Shri Prakash PanditFor Respondent: Shri Chaitanya Anjaria
Section 133(6)Section 143(3)Section 145Section 147

…and therefore re-opening of assessment is only on mere change of opinion. Reliance is placed on the following decisions: - (i) Varshaben Shantabhai Patel vs. ITO (282 CTR 75) (ii) CIT v. Kelvinator India Ltd. [320 ITR 561 SC] (iii) Asian Paints Ltd. v. DCIT [308 ITR 195 Bom] (iv) CIT v. Prima Paper & Eng. Industry [364 ITR 222 Bom.] (v) PCIT v. Meenaxi India Ltd. [395 ITR 677 Delhi] PCIT v. RMG Polyviny [396 ITR 5 Delhi] (vi) 6. Coming to the merits of the case, it is submitted that assessee produced books of account, bills, and vouchers for verification. Assessee also produced item wise stock registers, purcha…

Laxman D. Daware, Mumbai vs. ITO 19(2)(1), Mumbai

In the result, appeals of the assessee are partly allowed as indicated above

ITA 3462/MUM/2018[2009-10]Status: DisposedITAT Mumbai30 Sept 2019AY 2009-10

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

For Appellant: Shri Prakash PanditFor Respondent: Shri Chaitanya Anjaria
Section 133(6)Section 143(3)Section 145Section 147

…and therefore re-opening of assessment is only on mere change of opinion. Reliance is placed on the following decisions: - (i) Varshaben Shantabhai Patel vs. ITO (282 CTR 75) (ii) CIT v. Kelvinator India Ltd. [320 ITR 561 SC] (iii) Asian Paints Ltd. v. DCIT [308 ITR 195 Bom] (iv) CIT v. Prima Paper & Eng. Industry [364 ITR 222 Bom.] (v) PCIT v. Meenaxi India Ltd. [395 ITR 677 Delhi] PCIT v. RMG Polyviny [396 ITR 5 Delhi] (vi) 6. Coming to the merits of the case, it is submitted that assessee produced books of account, bills, and vouchers for verification. Assessee also produced item wise stock registers, purcha…

Shri Shravan Choudhary, Jaipur vs. Assistant Commissioner of Income Tax, Circle-5, Jaipur

In the result, appeal of the assessee is allowed

ITA 517/JPR/2019[2010-11]Status: DisposedITAT Jaipur07 Aug 2019AY 2010-11

Bench: The Date Of Hearing.”

For Appellant: Shri Siddharth Ranka &For Respondent: Shri B.K. Gupta (CIT)
Section 143(3)Section 147Section 148Section 2(22)(e)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCH ‘B’, JAIPUR Jh fot; iky jkWo] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM AND SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 517/JP/2019 fu/kZkj.k o"kZ@Assessment Year : 2010-11. cuke Shravan Choudhary, Assistant Commissioner of Vs. 82, Dhuleshwar Garden, Income Tax, Opp. PMG Office, Ajmer Road, Circle-5, Jaipur. Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN No. ABIPC 7810 K vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Siddharth Ranka & Shri…

Deputy Commissioner of Income Tax Circle 6(2), Mumbai vs. Khyati Realtors Private Limited, Mumbai

In the result, therefore, petition succeeds and is allowed

ITA 4710/MUM/2017[2008-09]Status: DisposedITAT Mumbai17 Jul 2019AY 2008-09

Bench: Shri M.Balaganesh, Am & Shri Amarjit Singh , Jm Dcit, Cir. 6(3)(2) Vs. M/S. Khyati Realtors Pvt.Ltd R.No.522, 5Th Floor 301/68, Manek Bhuvan 1St Hindu Colony Aayakar Bhavan M.K.Road, Dadar (E), Mumbai – 400 020 Mumbai – 400 014 Pan/Gir No.Aacck4422B (Appellant) .. (Respondent)

Section 143(1)Section 143(3)Section 147Section 148Section 68

…round no. 1 is allowed, Ground no. 2 becomes infructous and is not adjudicated upon. 8. In the result, the appeal of the appellant is allowed.” 5.1. We also find that the Hon’ble Jurisdictional High Court in the case of Asian Paints Ltd. vs. DCIT reported in 308 ITR 195(Bom) had held as under:- “7. We have heard the learned Counsel appearing for both sides. We have also gone through the judgments on which reliance was placed by the learned Counsel appearing for both sides. 8. In the order rejecting the objection filed by the petitioner to the notice under Section 148, respondent No. 1 has observed 'verification…