Asteroids Trading & Investment P. Ltd. v. DCIT

308 ITR 190High Court2009#1569 most cited

What is Asteroids Trading & Investment P. Ltd. v. DCIT authority for?

An assessment cannot be reopened merely on the basis of a change of opinion by the Assessing Officer. There must be new tangible material to justify reassessment.

72

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2025.

Also referred to as

Asteroids Trading & Investment P. Ltd. v. DCIT · 308 ITR 190 · Section 147 · Section 148 · change of opinion · tangible material · reassessment · reopening of assessment

Sections most often in play

Section 143(3)Section 144Section 147Section 148Section 14ASection 80PSection 80P(2)(a)(i)Section 80P(2)(d)

Issues it is cited on

section 80mmere change of opinionkelvinatorchange of opiniontangible materialsection 80p(2)(a)live linkgross total incomedisallowance under section 14asection 80p(2)(a)(i)section 80p(2)(d)section 80p(2)

Judgments citing Asteroids Trading & Investment P. Ltd. v. DCIT

Ramesh Nagarajan, Chennai vs. ACIT, Chennai

In the result, the assessee’s appeals for the ays 2012-13 & 2014-15 are

ITA 1415/CHNY/2017[2012-13]Status: DisposedITAT Chennai31 Oct 2017AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri S. Jayaraman

For Respondent: Shri. N. Madhavan, JCIT
Section 143(2)Section 143(3)Section 147Section 148Section 154Section 234BSection 90

…oking the provisions of sec 147 should be based on tangible material and not exercised mechanically or arbitrarily based on a mere change of opinion. [MJ. Pharmaceuticals Ltd. vs. DCIT (297 ITR 119 (Bom.)); Asteroids Trading and Investments P. Ltd. vs. DCIT (308 ITR 190 (Bom.)); Purity Techtextile (P) Ltd. vs. ACIT (230 CTR 157 (Bom.))] Under such circumstances, the notice u/s 148 and the consequential order u/s 143(3) r.w.s 147 are bad in law, and the non-consideration of this issue by :-11-: I.T.A. Nos. 1415 & 1416/Mds/2017 the learned CIT(A)-5 and renders the impugned order bad in law, since this is an issu…

ACIT, Bhubaneswar vs. M/S. Neelachal Gramya Bank, Bhubaneswar

In the result, appeal filed by the revenue and cross objection

ITA 58/CTK/2015[2008-09]Status: DisposedITAT Cuttack12 Jul 2017AY 2008-09

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

For Appellant: Shri B.K.Mohapatra, ARFor Respondent: Shri Kunal Singh, DR
Section 143(3)Section 144Section 147Section 148Section 2Section 22Section 36Section 44ASection 80PSection 80P(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE S/SHRI N.S SAINI, ACCOUNTANT MEMBER AND PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA No.58 /CTK/2015 Assessment Year:2008-09 ACIT, Circle -2(1), Vs. M/s. Neelachal Gramya Bhubaneswar Bank, 190/702, Kokila Residency, Ananta Vihar, Airport Area Post Office, Pokhariput, Bhubaneswar. PAN/GIR No. AAALN 0450 F (Appellant) .. ( Respondent) C.O.No.13/ctk/2015 (arising out of ITA No.58/CTK/2015) Assessment Year:2008-09 M/s. Neelachal Gramya Vs. ACIT, Circle -2(1), Bank, 190/702, Kokila Bhubaneswar Residency, Ananta Vihar, Airport Area Post Office, Pokharipu…

M/S Shree Saibaba Construction, Nagpur vs. CIT-IV, Nagpur

In the result, assessee’s appeal stands allowed

ITA 292/NAG/2014[2009-10]Status: DisposedITAT Nagpur27 Jun 2017AY 2009-10

Bench: Shri P.K. Bansal & Shri Amarjit Singh

For Appellant: Shri K.P. DewaniFor Respondent: Shri A.R. Ninawe
Section 143(3)Section 263Section 263(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI P.K. BANSAL, VICE PRESIDENT AND SHRI AMARJIT SINGH, JUDICIAL MEMBER ITA no. 292/Nag./2014 (Assessment Year : 2009–10) M/s. Shree Saibaba Construction Behind Goyal Talkies …………… Appellant Kamptee, Nagpur 441 002 PAN – ABNFS6079D v/s Asstt. Commissioner of Income Tax ..…….………. Respondent Circle–8, Nagpur Assessee by : Shri K.P. Dewani Revenue by : Shri A.R. Ninawe Date of Hearing – 22.06.2017 Date of Order – 27.06.2017 O R D E R PER AMARJIT SINGH, J.M. The assessee has filed the present appeal against the impugned order dated 20th Marc…

M/S. Eastern Sugar & Industries Ltd., Kolkata vs. ACIT, Central Circle - XI, Kolkata

In the result, appeals filed by the assessee on grounds No

ITA 1951/KOL/2010[2006-07]Status: DisposedITAT Kolkata15 Feb 2017AY 2006-07

Bench: Shri N.V.Vasudevan & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.1950/Kol/2010 ("नधा"रण वष" / Assessment Year :2004-2005) M/S Eastern Sugar & Vs. Acit, Cc-Xi, Kolkata, Industries Ltd., C/O M/S Poddar Court Building, Salarpuria Jajodia & Co., 7, 18, Rabindra Sarani, C.R.Avenue, Kolkata- Kolkata-700001 700072 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce 2944 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) & आयकर अपील सं./Ita No.1951/Kol/2010 ("नधा"रण वष" / Assessment Year :2006-2007) M/S Eastern Sugar & Vs. Acit, Cc-Xi, Kolkata, Industries Ltd., C/O M/S Poddar Court Building, Salarpuria Jajodia & Co., 7, 18, Rabindra Sarani, C.R.Avenue, Kolkata- Kolkata-700001 700072 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce 2944 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) "नधा"रती क" ओर से /Assessee By : Shri S.K.Tulsiyan, Advocate राज"व क" ओर से /Revenue By : Shri Pinaki Mukherji, Jcit, Sr.Dr सुनवाई क" तार"ख / Date Of Hearing : 02/02/2017 घोषणा क" तार"ख/Date Of Pronouncement 15/02/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Two Appeals Filed By The Assessee, Pertaining To The Assessment Years 2004-2005 & 2006-07, Are Directed Against The Order Passed By Ld. Commissioner Of Income Tax (Appeals), Central-I, Kolkata, In Appeal No.434/Cc-Iv/Cit(A),C-I/08-09, Dated 05.08.2010 & Appeal No.433/Cc-Xi/Cit(A),C-I/08-09, Dated 11.08.2010, Respectively Which In Turn Arises Out Of An Assessment Order Passed By The Assessing Officer M/S. Eastern Sugar & Industries Ltd. (Ao) Under Section 143 (3) Of The Income Tax Act 1961, (Hereinafter

For Appellant: Shri S.K.Tulsiyan, AdvocateFor Respondent: Shri Pinaki Mukherji, JCIT, Sr.DR
Section 143Section 143(3)Section 147Section 148

…n the account on being satisfied with the explanation of the assessee reopening of assessment on the very same issue suffered from change of opinion in the absence of any fresh material hence invalid. " • Asteroids Trading & Investment P. Ltd. vs DCIT (2009) 308 ITR 190 (Bom) In the said case, it was held that since no new material brought on record, reassessment on change of opinion of officer not valid. M/s. Eastern Sugar & Industries Ltd. • Asian Paints Ltd. vs. DCIT (2008) 308 ITR 195 (Bom) In this case, the hon'ble High Court observed that mere change of opinion of A.O. not ground for reassessment. • ICI…

M/S. Eastern Sugar & Industries Ltd., Kolkata vs. ACIT, Central Circle - XI, Kolkata

In the result, appeals filed by the assessee on grounds No

ITA 1950/KOL/2010[2004-05]Status: DisposedITAT Kolkata15 Feb 2017AY 2004-05

Bench: Shri N.V.Vasudevan & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.1950/Kol/2010 ("नधा"रण वष" / Assessment Year :2004-2005) M/S Eastern Sugar & Vs. Acit, Cc-Xi, Kolkata, Industries Ltd., C/O M/S Poddar Court Building, Salarpuria Jajodia & Co., 7, 18, Rabindra Sarani, C.R.Avenue, Kolkata- Kolkata-700001 700072 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce 2944 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) & आयकर अपील सं./Ita No.1951/Kol/2010 ("नधा"रण वष" / Assessment Year :2006-2007) M/S Eastern Sugar & Vs. Acit, Cc-Xi, Kolkata, Industries Ltd., C/O M/S Poddar Court Building, Salarpuria Jajodia & Co., 7, 18, Rabindra Sarani, C.R.Avenue, Kolkata- Kolkata-700001 700072 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce 2944 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) "नधा"रती क" ओर से /Assessee By : Shri S.K.Tulsiyan, Advocate राज"व क" ओर से /Revenue By : Shri Pinaki Mukherji, Jcit, Sr.Dr सुनवाई क" तार"ख / Date Of Hearing : 02/02/2017 घोषणा क" तार"ख/Date Of Pronouncement 15/02/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Two Appeals Filed By The Assessee, Pertaining To The Assessment Years 2004-2005 & 2006-07, Are Directed Against The Order Passed By Ld. Commissioner Of Income Tax (Appeals), Central-I, Kolkata, In Appeal No.434/Cc-Iv/Cit(A),C-I/08-09, Dated 05.08.2010 & Appeal No.433/Cc-Xi/Cit(A),C-I/08-09, Dated 11.08.2010, Respectively Which In Turn Arises Out Of An Assessment Order Passed By The Assessing Officer M/S. Eastern Sugar & Industries Ltd. (Ao) Under Section 143 (3) Of The Income Tax Act 1961, (Hereinafter

For Appellant: Shri S.K.Tulsiyan, AdvocateFor Respondent: Shri Pinaki Mukherji, JCIT, Sr.DR
Section 143Section 143(3)Section 147Section 148

…n the account on being satisfied with the explanation of the assessee reopening of assessment on the very same issue suffered from change of opinion in the absence of any fresh material hence invalid. " • Asteroids Trading & Investment P. Ltd. vs DCIT (2009) 308 ITR 190 (Bom) In the said case, it was held that since no new material brought on record, reassessment on change of opinion of officer not valid. M/s. Eastern Sugar & Industries Ltd. • Asian Paints Ltd. vs. DCIT (2008) 308 ITR 195 (Bom) In this case, the hon'ble High Court observed that mere change of opinion of A.O. not ground for reassessment. • ICI…

ACIT 2(3), Mumbai vs. Tata Chemicals Ltd, Mumbai

ITA 6647/MUM/2013[2002-03]Status: DisposedITAT Mumbai23 Dec 2016AY 2002-03

Bench: Shri Mahavir Singh () & Shri Ashwani Taneja ()

Section 143(3)Section 147Section 148Section 151Section 80

…closed, the Assessing Officer could not seek to reassess the assessee on the ground of failure to disclose fully and truly all material facts necessary for assessment. The decisions of Bombay High Court in the cases of Asteroids Trading and Investments P Ltd, 308 ITR 190 (Bom), Siemens Information Systems Ltd, 295 ITR 333 (Bom) and Asian Paints Ltd, 308 ITR 195 (Bom) are also on similar lines where proceedings u/s 147 have been held to be invalid because re- opening was based on mere "change of opinion". In these decisions, the decision of Hon'ble Delhi High Court (Full Bench), in the case of Kelvinator of India…

Lupin Ltd, Mumbai vs. Asst CIT Ltu, Mumbai

The appeal of the assessee is allowed

ITA 825/MUM/2012[2003-04]Status: DisposedITAT Mumbai13 Jul 2016AY 2003-04

Bench: Shri R.C. Sharma & Shri Sandeep Gosain: (A.Y : 2003-04) M/S. Lupin Limited Vs. Acit Ltu, 159, C.S.T Road, Kalina, Mumbai. Santa Cruz (East), Mumbai 400 098. Pan : Aaacl1069K (Appellant) (Respondent)

For Appellant: Shri Rajan Vora &For Respondent: Shri Manoj Kumar
Section 115JSection 127Section 139Section 143(3)Section 147Section 148Section 154Section 35Section 80Section 80I

…Oriental Insurance Company, (2015) 94 CCH 12 (Del HC) vi) Amitabh Bachchan, (2012) 349 ITR 76 (Bom HC) vii) Cartini India Ltd., (2009) 314 ITR 275 (Bom HC) viii) Asian Paints Ltd., (2009) 308 ITR 195 (Bom HC) ix) Asteriods Trading & Investment P. Ltd., (2009) 308 ITR 190 (Bom HC) x) Commissioner of Income Tax vs Orient Craft Ltd., (2013) 354 ITR 536 (Delhi HC) 8 M/s. Lupin Limited xi) M/s. GTL Limited vs ACIT, ITA No. 6971/Mum/2010 (Mum Trib) dated 2nd January, 2015 xii) Prashant Joshi vs Income Tax Officer & Anr, (2010) (Bom HC) 324 ITR 154 6. The Ld. AR further argued that the ACIT (LTU) without first dealin…

Luminant Investments Ltd ( Formelry Known As Luminant Investments P. Ltd), Mumbai vs. Asst CIT Cen Cir 40, Mumbai

In the result, the appeal of the assessee is allowed

ITA 1084/MUM/2012[2005-06]Status: DisposedITAT Mumbai08 Jul 2016AY 2005-06

Bench: Sri Mahavir Singh, Jm & Sri Ramit Kochar, Am Luminant Investments Ltd., Vs. The Asst. Commissioner Of Income Radha Bhavan, 1St Floor, Tax, Central Circle-40, 121, Nagindas Master Road, Aayakar Bhavan, M. K. Marg, Mumbai 400 023 Mumbai 400 020 Pan: Aaacl 0834 A .. Appellant Respondent

Section 11(4)Section 139Section 143(1)Section 143(3)Section 144Section 147Section 148Section 148(2)

…ide No.549 dated 31.10.1989 which clarified that the words “reason to believe” did not mean a change of opinion. Further this is again reiterated in the judgment of the Hon’ble Bombay High Court in Asteroid Trading and Investments Pvt. Ltd. Vs. DCIT (2009) 308 ITR 190 (Bom.) and Asian Paints Ltd. Vs. DCIT (2009) 308 ITR 195 (Bom.), which are impliedly approved, while that of the Allahabad High Court in EMA India 30 DTR (All) 82 (which had dissented from the Full Bench judgment in Kelvinator) is impliedly overruled. Hon’ble Delhi High Court in the case of CIT Vs. Eicher Ltd. (2007) 294 ITR 310 (Delhi) held t…

Concorde Motors (India) Ltd, Mumbai vs. ACIT (OSD) 2(1), Mumbai

ITA 234/MUM/2013[2003-04]Status: DisposedITAT Mumbai24 Jun 2016AY 2003-04

Bench: S/Sh.Joginder Singh & Rajendraआयकर आयकर अपील अपील संसंसंसं./I.T.A./234/Mum/2013,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2003-04 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Concorde Motors (India) Ltd. The Acit, Circle-(Osd)-2(1) 3Rd Floor, Nanavati Mahalaya, 16, Homi Aayakar Bhavan, M.K. Road Mody Street, Hutatma Chowk Vs. Mumbai-400 020. Mumbai-400 001. Pan:Aaacm 0154 A (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By: Shri Ganesh Bare-Dr Assessee By: Shri Farrokh V.Irani-Ar सुनवाई क" तारीख / Date Of Hearing: 23.05.2016 घोषणा क" तारीख / Date Of Pronouncement: 24.06.2016 आयकर आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश आयकर आयकर अिधिनयम अिधिनयम क" क" धारा धारा अ"तग"त अ"तग"त आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा लेखा सद"य लेखा लेखा सद"य सद"य राजे"" सद"य राजे"" राजे"" केकेकेके अनुसार राजे"" अनुसार अनुसार Per Rajendra, Am- अनुसार Challenging The Order Dt. 04.10.2012 Of Cit(A)-4,Mumbai, The Assessee Has Filed The Present Appeal.Assessee-Company,Engaged In The Business Of Servicing & Maintenance Of Vehicles, Filed Its Return Of Income 05.01.2006, Declaring Total Income At Nil .The Assessment Order U/S.143(3) R.W.S. 147 Of The Act, Was Passed On 3.12.2008,Determining The Total Income Of The Assessee At Rs.58,53, 770/-.

For Appellant: Shri Farrokh V.Irani-ARFor Respondent: Shri Ganesh Bare-DR
Section 115JSection 143(3)Section 148Section 254(1)Section 79

…आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण, , , , मुंबई आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण मुंबई मुंबई “सी मुंबई सी सी ” ” ” ” खंडपीठ सी खंडपीठ खंडपीठ खंडपीठ Income-tax Appellate Tribunal “ C ”Bench Mumbai सव"ी जोिग"दर "सह, "याियक सद"य एवं राजे"", लेखा सद"य Before S/Sh.Joginder Singh,Judicial Member & Rajendra,Accountant Member आयकर आयकर अपील अपील संसंसंसं./I.T.A./234/Mum/2013,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2003-04 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Concorde Motors (India) Ltd. The ACIT, circle-(OSD)-2(1) 3rd Floor, Nanavati Mahalaya, 16, Homi Aayakar Bhavan, M.K. Road Mody Street, Hutatma C…

DCIT 1(3), Mumbai vs. Universal Ferro & Allied Chemicals Ltd, Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 1827/MUM/2013[2005-06]Status: DisposedITAT Mumbai25 May 2016AY 2005-06

Bench: Shri Jason P. Boaz & Shri Sandeep Gosain: (A.Y : 2005-06)

For Appellant: Shri V. MohanFor Respondent: Shri A. Kumbhar
Section 143(1)Section 143(3)Section 147Section 148Section 154

…n or addition is available, it would not be open for the Assessing Officer to invoke Sec. 148 and reopen the assessment. The Ld. AR also relied upon the judgment of the Hon'ble Bombay High Court in the case of Asteroids Trading & Investments (P) Ltd. v. DCIT, 308 ITR 190; Asian Paints Ltd. v. DCIT, 308 ITR 195; Aventis Pharma Ltd. v. ACIT, 323 ITR 570 and GKN Sinter Metals Ltd. v. Ramapriya 5 M/s Universal Ferro & Allied Chemicals Ltd. Raghavan, ACIT, 371 ITR 225. In addition, the Ld. AR submitted that the Assessing Officer has failed to appreciate that under the OTS scheme framed by the RBI assessee was entitle…

ITO 3(1)(4), Mumbai vs. Everlon Synthetics P.Ltd, Mumbai

In the result, the appeal filed by the Revenue in ITA N0

ITA 6965/MUM/2013[2006-07]Status: DisposedITAT Mumbai23 May 2016AY 2006-07

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 6965/Mum/2013 ("नधा"रण वष" / Assessment Year : 2006-07) Income Tax Officer 3(1)(4), M/S Everlon Synthetics बनाम/ R. No. 666, Pvt. Ltd., V. Aayakar Bhawan,M.K. Road, 67, Regent Chambers, Mumbai – 400 020. 208 Nariman Point, Mumbai – 400 021 "थायी लेखा सं./Pan : Aaace0860H (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

Section 115JSection 139Section 143(3)Section 147Section 148Section 148(2)

…extile Private Limited, 2010-TIOL-211-HC-Mum. 3. Carlton Overseas (P) Ltd. v. CIT (2009) 318 ITR 295 (Del) 3. CArtini India Ltd. v. Addl. CIT (2009)314 ITR 275 (Bom) 4. IPCA Labs Ltd., (2002) 251 ITR 416 (Bom) 5. Asteroids Trading and Investments Ltd., (2009) 308 ITR 190 (Bom), 6. Siemens Information Systems Ltd., (2008)295 ITR 333 (Bom) and 7. Asian Paints Ltd., (2009)308 ITR 195 (Bom) ITA 6965/Mum/2013 12 8. Delhi High Court full Bench in the case of Kelvinator of India Ltd, (2002) 256 ITR 1 (del) 9. Sirpur Paper Mills Ltd., (1978)114 ITR 404 (AP) 10. Rallis India Ltd, (2010) 323 ITR 54 (Bom) Based upon the…

Hanil Era Textiles Ltd, Mumbai vs. ACIT 6(3), Mumbai

In the result, appeal of the assessee is allowed

ITA 5359/MUM/2011[200-05]Status: DisposedITAT Mumbai13 Nov 2015

Bench: Shri Amit Shukla & Shri Ramit Kochar

For Respondent: Shri L K Dehiya
Section 1Section 10BSection 115JSection 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 234CSection 34A

…“change of opinion”. In support of his contention, he relied upon the decision of Hon’ble Bombay High Court in the case of Aroni Commercials Ltd vs ACIT, reported in [2014] 362 ITR 403 and Asteroids Trading and Investments Pvt Ltd vs DCIT, reported in [2009] 308 ITR 190 (Bom). In these decisions, he submitted that the Hon’ble Bombay High Court has held that, if no new material is brought on record then reopening cannot be done on mere change of opinion. The reasons recorded must be based on tangible material and not on the material which are already on record. He also relied upon a decision of Hon’ble Supreme Co…