Aventis Pharma Ltd. v. Asst. CIT

323 ITR 570High Court2010#2244 most cited

What is Aventis Pharma Ltd. v. Asst. CIT authority for?

Reassessment under Section 147 requires fresh tangible material to form a reason to believe that income has escaped assessment. It cannot be initiated on a mere change of opinion, reappraisal of existing records, or as a fishing enquiry.

51

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2025.

Also referred to as

Aventis Pharma Ltd. v. ACIT · Section 147 · Section 148 · reassessment · mere change of opinion · fresh tangible material · reason to believe · income escaping assessment · fishing enquiry · reappraisal of records · full and true disclosure · Kelvinator

Sections most often in play

Section 143(3)Section 147Section 148Section 271(1)(c)Section 127Section 131Section 132Section 142(1)
Read the full judgment

Issues it is cited on

material facts necessary for assessmentfirst proviso to section 147kelvinatorfresh tangible materialmere change of opinionlive linkfull and true disclosureborrowed satisfactiontangible materialbogus ltcgescapement of incomeincome escaping assessment

Judgments citing Aventis Pharma Ltd. v. Asst. CIT

ACIT, Circle-10(2), Kolkata vs. M/S Oriental Carbon & Chemicals Ltd., Kolkata

In the result, appeal of the revenue is dismissed

ITA 1682/KOL/2016[2009-10]Status: DisposedITAT Kolkata23 Mar 2018AY 2009-10

Bench: "ी पी.एम .जगताप, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri P. M. Jagtap, Am & Shri A. T. Varkey, Jm]

Section 142(1)Section 143(3)Section 147Section 148

…IT [2012) 346 ITR 528 (Bom) NDT Systems Vs ITO [2013] 81 DTR 1 (Born) Similar views were expressed by the Bombay and Delhi High Courts in the following cases: (1) Moser Baer India Ltd. Vs DCIT - [2013] 81 DTR 10 (Del) (ii) Aventis Pharma Ltd. Vs ACIT - [2010J 323 ITR 570 (Bom) `(iii) CIT Vs Jagson International Ltd - [201 OJ 321 ITR 544 (Del) (iv) Asteroids Trading and Investments P. Ltd. Vs DCIT - [2009] 308 ITR 190 (Bom) From the aforesaid judgements it can be seen that even in cases of reopening of assessment within a period of four years from the end of the relevant assessment year, the AO has to have some ne…

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)

…roids Trading & Investment P.Ltd. Vs. DCIT (2009) 308 ITR 190 (Bom) (No new material brought on records - Re-assemment on change of opinion of officer not valid) vi. Asian Paints Ltd. Vs. DCIT (2008) 308 ITR 195 (Bom) vii. Aventis Pharma Ltd. Vs. ACIT (2010) 323 ITR 570 (Bom) viii. Bhavesh Developers vs. AO [2010] 188 TAXMAN 123 (Bom) ix. It is well settled that when the assessee had produced all the material and relevant facts and therefore the reassessment proceedings cannot be sustained:. • Praful Chunilal Patel vs. M.J. Makwana, ACIT (1999) 236 ITR 832 (Guj) • JCIT & Ors vs. George Williamson (Assam) Ltd. (…

Just Textiles Ltd, Ambernath vs. DCIT RG 10(3), Mumbai

In the result, appeal of the assessee is allowed in terms indicated hereinabove

ITA 1907/MUM/2015[2008-09]Status: DisposedITAT Mumbai21 Mar 2017AY 2008-09

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm M/S.Just Textiles Ltd., K-5, Vs. Dcit Rg 10 (3), Mumbai - Additional Midc Anand 400020 Nagar (E), Ambernath – 421506 Pan/Gir No. Aaacj1221D Appellant) .. Respondent)

Section 143(3)Section 148Section 48Section 50

…549 dated 31.10.1989 which clarified that the words "reason to believe" did not mean a change of opinion." 8. Further reliance was placed on the following judicial pronouncements, which are on the similar propositions:- • Aventis Ph arm a Ltd. vs. ACIT (2010) 323 ITR 570 (Bom) • CIT vs. Usha International Ltd. ( 348 ITR 485)(Delhi) • Madhukar Khosla vs. ACIT 367 ITR 165 (Delhi) • Asian Paints Ltd. v. CIT [2009] 308 ITR 195 (Bom.) • CIT v. Jet Speed Audio Pvt. Ltd. (2015) 372 ITR 762 (Bom.) • Yash Raj Films P. Ltd. v. ACIT (2011) 332 ITR 428 (Bom.) • Mohan Gupta (HUF) vs. CIT 366 ITR 115(Delhi) • CIT vs. Orient Cr…

Shapoorji Pallanji and Company P.Ltd, Mumbai vs. Addl CIT RG 3(3), Mumbai

The appeal of the assessee is partly allowed

ITA 3053/MUM/2015[2011-12]Status: DisposedITAT Mumbai03 Mar 2017AY 2011-12

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwalassessment Year: 2011-12 M/S Shapoorji Pallonji & Co. Dcit, Ltd. Circle-3(3), बनाम/ Shapporji Pallonji Centre, Room No.609, 6Th Floor, Vs. 41/44 Minoo Desai Marg, Aayakar Bhavan, M.K.Road, Colaba Mumbai-400020 Mumbai-400005 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aaacs6994C

Section 143(3)Section 14A

…) reopening is not permissible on the basis of borrowed satisfaction rather there should be live link with the formation of belief and conclusion for escapement of income. The ratio laid down by Hon'ble jurisdictional High Court in Aventis Pharma Ltd. vs ACIT 323 ITR 570 (Born.) supports our view. Even after 01/04/1989, concept of ‘change of opinion’ was not removed. Prior to direct tax laws (amendment) Act, 1987, reopening could be done under two conditions viz, if (a) the ITO had reason to believe that, by reason of the omission or failure on the part of the assessee to make a return u/s 139 for any assessment…

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

…m) In the said case, the hon'ble Bombay High Court held that re-opening of assessment on the same ground in the absence of any tangible material was based on mere change of opinion and therefore is not sustainable. • Aventis Pharma Ltd. vs. Astt. CIT (2010) 323 ITR 570 (Bom) (577). • Bhavesh Developers vs. A.O. (2010) 224 CTR 160 (Bom). 2.7. Based on the ratio of judgment decided in the aforesaid cases, it follows that no valid proceeding u/s.147 could be initiated even within a period of four years on mere change of opinion, if all material facts had been disclosed by the assessee and the AO had complete kno…

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

…m) In the said case, the hon'ble Bombay High Court held that re-opening of assessment on the same ground in the absence of any tangible material was based on mere change of opinion and therefore is not sustainable. • Aventis Pharma Ltd. vs. Astt. CIT (2010) 323 ITR 570 (Bom) (577). • Bhavesh Developers vs. A.O. (2010) 224 CTR 160 (Bom). 2.7. Based on the ratio of judgment decided in the aforesaid cases, it follows that no valid proceeding u/s.147 could be initiated even within a period of four years on mere change of opinion, if all material facts had been disclosed by the assessee and the AO had complete kno…

ITO WD 20(3)(1), Mumbai vs. Unnosource Corporation, Mumbai

In the result, the Revenue’s appeals for assessment years 2005-06 to 2008-09 are dismissed

ITA 5659/MUM/2014[2008-09]Status: DisposedITAT Mumbai08 Jul 2016AY 2008-09

Bench: Shri Jason P. Boaz & Shri Sandeep Gosain

For Appellant: Shri S. Senthil KumaranFor Respondent: Shri Pradip Kapasi
Section 10Section 10ASection 143(1)Section 143(3)Section 144Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL "F" Bench, Mumbai Before Shri Jason P. Boaz, Accountant Member and Shri Sandeep Gosain, Judicial Member ITA Nos. 5656 to 5659/Mum/2014 (Assessment Years: 2005-06 to 2008-09) Income Tax Officer-20(3)(1) M/s. Unnosource Corporation 605, 6th Floor 8, Madhuparag, NN Road Vs. Piramal Chambers 69, Swastik Society, JVPD Schme Parel, Mumbai 400012 Vile Parle (W), Mumbai 400056 PAN - AABFU5036B Appellant Respondent Appellant by: Shri S. Senthil Kumaran Respondent by: Shri Pradip Kapasi Date of Hearing: 30.05.2016 Date of Pronouncement: 08.07.2016 O R D E R Per Jason P. Boaz, A.…

ITO WD 20(3)(1), Mumbai vs. Unnosource Corporation, Mumbai

In the result, the Revenue’s appeals for assessment years 2005-06 to 2008-09 are dismissed

ITA 5658/MUM/2014[2007-08]Status: DisposedITAT Mumbai08 Jul 2016AY 2007-08

Bench: Shri Jason P. Boaz & Shri Sandeep Gosain

For Appellant: Shri S. Senthil KumaranFor Respondent: Shri Pradip Kapasi
Section 10Section 10ASection 143(1)Section 143(3)Section 144Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL "F" Bench, Mumbai Before Shri Jason P. Boaz, Accountant Member and Shri Sandeep Gosain, Judicial Member ITA Nos. 5656 to 5659/Mum/2014 (Assessment Years: 2005-06 to 2008-09) Income Tax Officer-20(3)(1) M/s. Unnosource Corporation 605, 6th Floor 8, Madhuparag, NN Road Vs. Piramal Chambers 69, Swastik Society, JVPD Schme Parel, Mumbai 400012 Vile Parle (W), Mumbai 400056 PAN - AABFU5036B Appellant Respondent Appellant by: Shri S. Senthil Kumaran Respondent by: Shri Pradip Kapasi Date of Hearing: 30.05.2016 Date of Pronouncement: 08.07.2016 O R D E R Per Jason P. Boaz, A.…

ITO WD 20(3)(1), Mumbai vs. Unnosource Corporation, Mumbai

In the result, the Revenue’s appeals for assessment years 2005-06 to 2008-09 are dismissed

ITA 5657/MUM/2014[2006-07]Status: DisposedITAT Mumbai08 Jul 2016AY 2006-07

Bench: Shri Jason P. Boaz & Shri Sandeep Gosain

For Appellant: Shri S. Senthil KumaranFor Respondent: Shri Pradip Kapasi
Section 10Section 10ASection 143(1)Section 143(3)Section 144Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL "F" Bench, Mumbai Before Shri Jason P. Boaz, Accountant Member and Shri Sandeep Gosain, Judicial Member ITA Nos. 5656 to 5659/Mum/2014 (Assessment Years: 2005-06 to 2008-09) Income Tax Officer-20(3)(1) M/s. Unnosource Corporation 605, 6th Floor 8, Madhuparag, NN Road Vs. Piramal Chambers 69, Swastik Society, JVPD Schme Parel, Mumbai 400012 Vile Parle (W), Mumbai 400056 PAN - AABFU5036B Appellant Respondent Appellant by: Shri S. Senthil Kumaran Respondent by: Shri Pradip Kapasi Date of Hearing: 30.05.2016 Date of Pronouncement: 08.07.2016 O R D E R Per Jason P. Boaz, A.…

ITO WD 20(3)(1), Mumbai vs. Unnosource Corporation, Mumbai

In the result, the Revenue’s appeals for assessment years 2005-06 to 2008-09 are dismissed

ITA 5656/MUM/2014[2005-006]Status: DisposedITAT Mumbai08 Jul 2016AY 2005-006

Bench: Shri Jason P. Boaz & Shri Sandeep Gosain

For Appellant: Shri S. Senthil KumaranFor Respondent: Shri Pradip Kapasi
Section 10Section 10ASection 143(1)Section 143(3)Section 144Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL "F" Bench, Mumbai Before Shri Jason P. Boaz, Accountant Member and Shri Sandeep Gosain, Judicial Member ITA Nos. 5656 to 5659/Mum/2014 (Assessment Years: 2005-06 to 2008-09) Income Tax Officer-20(3)(1) M/s. Unnosource Corporation 605, 6th Floor 8, Madhuparag, NN Road Vs. Piramal Chambers 69, Swastik Society, JVPD Schme Parel, Mumbai 400012 Vile Parle (W), Mumbai 400056 PAN - AABFU5036B Appellant Respondent Appellant by: Shri S. Senthil Kumaran Respondent by: Shri Pradip Kapasi Date of Hearing: 30.05.2016 Date of Pronouncement: 08.07.2016 O R D E R Per Jason P. Boaz, A.…

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

…ke 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 entitled to certain benefits and PNB agreed to waive principal amount of loan aggregating…