Calcutta Discount Co. Ltd. v. ITO

41 ITR 191Supreme Court of India1961#192 most cited

What is Calcutta Discount Co. Ltd. v. ITO authority for?

The assessee's duty is limited to disclosing all primary, material facts necessary for assessment, including entries, documents, and other evidence. It is for the Assessing Officer to draw inferences of fact and law, and the assessee is not obligated to offer such inferences.

384

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2010 to 2026.

Also referred to as

Calcutta Discount Co. Ltd. v. ITO · Section 147 · Section 148 · assessee's duty · full and true disclosure · primary facts · material facts for assessment · drawing inferences · reassessment conditions

Sections most often in play

Section 147Section 148Section 143(3)Section 142(1)Section 68Section 151Section 143(2)Section 132
Read the full judgment

Issues it is cited on

section 147(a)true and full disclosurematerial facts necessary for assessmentfresh tangible materialfirst proviso to section 147kelvinatorfull and true disclosurebeyond four yearsmere change of opinionlive linksection 35dsection 148(2)

Judgments citing Calcutta Discount Co. Ltd. v. ITO

M/S. Merck Life Science Pvt. Ltd vs. The Deputy Commissioner

The appeals are disposed of

ITA/112/2016HC Karnataka14 Dec 2020

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 143(3)Section 147Section 148Section 260Section 260ASection 80

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 14TH DAY OF DECEMBER 2020 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASAD I.T.A. NO.112 OF 2016 C/W I.T.A.NO.113 OF 2016 I.T.A.NO.112/2016 BETWEEN: M/S. MERCK LIFE SCIENCE PVT. LTD. (PREVIOUSLY KNOWN AS M/S. MILLIPORE (INDIA) PVT. LTD.) 50A, 2ND PHASE, RING ROAD PEENYA, BENGALURU-560058. ... APPELLANT (BY SRI. ASHOK A. KULKARNI, ADV.,) AND: THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-12(1) 14/3, 4TH FLOOR RASTROTHANA BHAVAN (OPP. RBI), NRUPATHUNGA ROAD BENGALURU-560001. ... RESPONDENT (BY…

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

…29 (Bom); CIT Vs. Srusti Diam 57 taxmann.com 392 (Bom); Debashu Services (P) Ltd. Vs. DCIT 49 taxmann.com 41 (Bom) and Rabo India Finance Ltd. Vs. DCIT 26 taxmann.com 122 (Bom). He also relied on the following judgments : 1. Calcutta Discount Co. Ltd. Vs. ITO 41 ITR 191 (SC) 2. B J Services Company Middle East Ltd. Vs. DDIT 12 taxmann.com 493 (Uttarakhand HC) 3. Jindal Photo Films Ltd. Vs. DCIT 234 ITR 170 (Del) 4. Garden Silk Mills Ltd. Vs. DCIT 222 ITR 68 (Guj) 5. CWT Vs.Shivaram Singh 163 ITR 773 (Patna HC) 6. DCIT Vs. Smt. Ranjit Kaur 81 TTJ 269 (Chandigarh ITAT) 5. On the other hand, the ld. DR relied on th…

ACIT, Central Circle - 4(3), Kolkata vs. M/S. Grd Commodities Ltd., Kolkata

In the result, the appeals of the Revenue are dismissed and the cross objections of assessee are allowed

ITA 2277/KOL/2018[2014-15]Status: DisposedITAT Kolkata04 Dec 2020AY 2014-15

Bench: Shri P.M. Jagtap(Kz) &Shri A. T. Varkey, Jm] It(Ss)A Nos.120 To123/Kol/2018 Assessment Years: 2009-10 To 2012-13

Section 132Section 133ASection 143Section 143(3)Section 147Section 148Section 153A

…section (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment, for that assessment year:[Emphasis given by us]” 8. We note that the Hon’ble Supreme Court in the case of M/s. Calcutta Discount Co Ltd (41 ITR 191) has held that, both the conditions, (i) the Income-tax Officer having reason to believe that there has been under-assessment and (ii) his having reason to believe that such under- assessment has resulted from nondisclosure of material facts, must co-exist before the Income-tax Officer has jurisdiction to start proceedings after the expiry of four…

DCIT, Circle - 3(1), Kolkata vs. M/S. the Peerless General Finance & Investment Co. Ltd., Kolkata

In the result, the appeal of Revenue is dismissed

ITA 1005/KOL/2019[2008-09]Status: DisposedITAT Kolkata03 Dec 2020AY 2008-09

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 142(1)Section 143(2)Section 143(3)Section 147Section 148

…ection (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment, for that assessment year:[Emphasis given by us]” 14. We note that the Hon’ble Supreme Court in the case of M/s. Calcutta Discount Co Ltd (41 ITR 191) has held that, both the conditions, (i) the Income-tax Officer having reason to believe that there has been under-assessment and (ii) his having reason to believe that such under- assessment has resulted from nondisclosure of material facts, must co-exist before the Income-tax Officer has jurisdiction to start proceedings after the expiry of four…

M/S Navodaya Grama Vikas Charitable Trust, Mangalore vs. The Assistant Commissioner of Income Tax (Exemptions) Circle-1, Mangalore

In the result, both the appeals of the assessee are allowed

ITA 553/BANG/2018[2014-15]Status: DisposedITAT Bangalore16 Oct 2020AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri V.Srinivasan, AdvocateFor Respondent: Smt. R. Premi, JCIT (D.R)
Section 11Section 12ASection 13(1)(c)Section 13(2)Section 143Section 143(3)Section 147Section 148Section 151

…ef, which is in that income chargeable to tax has escaped assessment. This live link must also be apparent from the reading of the reasons recording. The Ld. AR placed reliance on the ratio of the following decisions: 1) M/s. Calcutta Discount Co. reported in 41 ITR 191[SC] Gangasaran reported in 130 ITR 1 [2] Chuharma( Rajpal reported in 79 ITR 603[SC] [3] Lakhmani Mewat Das reported in 103 ITR 437 (SC) [4] 7 The Ld. AR submitted that the concept of live-link as explained by the Supreme Court in the case of CIT. Vs. Lakhmani Mewat Das reported in 103 ITR 437 wherein it was held that the reasons set out by the A…

M/S.Navodaya Grama Vikas Charitable Trust, Mangalore vs. The Assistant Commissioner of Income Tax (Exemptions) Circle-1, Mangalore

In the result, both the appeals of the assessee are allowed

ITA 552/BANG/2018[2009-10]Status: DisposedITAT Bangalore16 Oct 2020AY 2009-10

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri V.Srinivasan, AdvocateFor Respondent: Smt. R. Premi, JCIT (D.R)
Section 11Section 12ASection 13(1)(c)Section 13(2)Section 143Section 143(3)Section 147Section 148Section 151

…ef, which is in that income chargeable to tax has escaped assessment. This live link must also be apparent from the reading of the reasons recording. The Ld. AR placed reliance on the ratio of the following decisions: 1) M/s. Calcutta Discount Co. reported in 41 ITR 191[SC] Gangasaran reported in 130 ITR 1 [2] Chuharma( Rajpal reported in 79 ITR 603[SC] [3] Lakhmani Mewat Das reported in 103 ITR 437 (SC) [4] 7 The Ld. AR submitted that the concept of live-link as explained by the Supreme Court in the case of CIT. Vs. Lakhmani Mewat Das reported in 103 ITR 437 wherein it was held that the reasons set out by the A…

Shri Girraj Prasad Gilara HUF, Jaipur vs. Income Tax Officer, Ward-6-5, Jaipur

In the result, appeal of the assessee is allowed

ITA 354/JPR/2019[2009-10]Status: DisposedITAT Jaipur06 Oct 2020AY 2009-10
For Appellant: Shri Vijay Goyal (CA)For Respondent: Ms Chanchal Meena (Addl. CIT)
Section 143(3)Section 147

…held in the majority opinion as under :- “..........What the Supreme Court has now done in the GKN’s case (2003) 259 ITR 19 is not to whittle down the principle laid down by the Constitution Bench of the Apex Court in Calcutta Discount Co. Ltd.’s case (1961) 41 ITR 191 but to require the assessee first to lodge preliminary objection before the Assessing Officer who is bound to decide the preliminary 6 M/s. Girraj Prasad Gilara HUF, Jaipur. objections to issuance of the re-assessment notice by passing a speaking order and, therefore, if such order on the preliminary objections is still against the assessee, the…

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

…29 (Bom); CIT Vs. Srusti Diam 57 taxmann.com 392 (Bom); Debashu Services (P) Ltd. Vs. DCIT 49 taxmann.com 41 (Bom) and Rabo India Finance Ltd. Vs. DCIT 26 taxmann.com 122 (Bom). He also relied on the following judgments : 1. Calcutta Discount Co. Ltd. Vs. ITO 41 ITR 191 (SC) 2. B J Services Company Middle East Ltd. Vs. DDIT 12 taxmann.com 493 (Uttarakhand HC) 3. Jindal Photo Films Ltd. Vs. DCIT 234 ITR 170 (Del) 4. Garden Silk Mills Ltd. Vs. DCIT 222 ITR 68 (Guj) 5. CWT Vs.Shivaram Singh 163 ITR 773 (Patna HC) 6. DCIT Vs. Smt. Ranjit Kaur 81 TTJ 269 (Chandigarh ITAT) 5. On the other hand, the ld. DR relied on th…

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

…29 (Bom); CIT Vs. Srusti Diam 57 taxmann.com 392 (Bom); Debashu Services (P) Ltd. Vs. DCIT 49 taxmann.com 41 (Bom) and Rabo India Finance Ltd. Vs. DCIT 26 taxmann.com 122 (Bom). He also relied on the following judgments : 1. Calcutta Discount Co. Ltd. Vs. ITO 41 ITR 191 (SC) 2. B J Services Company Middle East Ltd. Vs. DDIT 12 taxmann.com 493 (Uttarakhand HC) 3. Jindal Photo Films Ltd. Vs. DCIT 234 ITR 170 (Del) 4. Garden Silk Mills Ltd. Vs. DCIT 222 ITR 68 (Guj) 5. CWT Vs.Shivaram Singh 163 ITR 773 (Patna HC) 6. DCIT Vs. Smt. Ranjit Kaur 81 TTJ 269 (Chandigarh ITAT) 5. On the other hand, the ld. DR relied on th…

Om Praaksh Singh, Ranchi vs. DCIT, Circle-1, Ranchi

In the result, appeal filed by the assessee is allowed

ITA 361/RAN/2018[2009-10]Status: DisposedITAT Ranchi10 Sept 2020AY 2009-10

Bench: Shri S.S, Godara, Jm & Dr. A.L. Saini, Am Om Prakash Singh Vs. Dcit, Circle-1, Ranchi Sankalp, East Jail Road, Ranchi- 834001. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Agkps0300D (अपीलाथ" /Appellant) .. (""थ" / Respondent)

For Appellant: Shri Manjit Verma, A/RFor Respondent: Shri A. K. Mohanti, JCIT, Sr. DR
Section 142(1)Section 143(3)Section 147Section 148Section 234CSection 263Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI ‘E-COURT’AT KOLKATA Before Shri S.S, Godara, JM & Dr. A.L. Saini, AM Om Prakash Singh Vs. DCIT, Circle-1, Ranchi Sankalp, East Jail Road, Ranchi- 834001. "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AGKPS0300D (अपीलाथ" /Appellant) .. (""थ" / Respondent) Appellant by : Shri Manjit Verma, A/R Respondent by : Shri A. K. Mohanti, JCIT, Sr. DR सुनवाई की तारीख / Date of Hearing : 22/07/2020 घोषणा की तारीख/Date of Pronouncement : 10/09/2020 आदेश / O R D E R Per Bench: The captioned appeal filed by the assessee, pertaining to Assessment Year 2009- 10, is directed against the order…

M/S. Bose Corporation India Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal filed by the assessee is allowed

ITA 5705/DEL/2016[2008-09]Status: DisposedITAT Delhi03 Sept 2020AY 2008-09

Bench: Shri N.K. Billaiya & Shri Kuldip Singh[Assessment Year: 2008-09] Bose Corporation India Pvt. Ltd., Vs. Dcit 3Rd Floor, Plot No.4, Circle – 5(1), Salcon Aurum, Jasola District New Delhi Centre, New Delhi – 110 025 Pan No. Aaacb 3260 A [Appellant] [Respondent]

For Appellant: Shri K. M. Gupta, AdvFor Respondent: Ms Rakhi Vimal, Sr. DR
Section 143(3)Section 147Section 148Section 37(1)

…eassessment power is if material documents, having significance on the reassessment, are withheld or improperly disclosed. The duty of the AO, it has been repeatedly emphasised from the decision of the Supreme Court in Calcutta Discount Co. Ltd. v. ITO [1961] 41 ITR 191 is to truly assess the income disclosed by the assessee. The corresponding duty or the responsibility of the ssessee is to disclose all material facts. Once that duty is discharged, the inability of the AO to carry out the task assigned to him by the statute properly does not authorize a second opinion, based upon which the AO can issue reassessme…

Harshvardhan Constructions, Mumbai vs. ITO 23(1)(5), Mumbai

ITA 5225/MUM/2017[2011-12]Status: DisposedITAT Mumbai09 Jul 2020AY 2011-12

Bench: Shri M. Balaganesh & Shri Ravish Soodharshvardhan Constructions Income Tax Officer 11, Happy Home, 244 Waterfield Road; Ward 23(1)(5), 1St Floor, Vs. Bandra West, Mumbai – 400 050. Matru Mandir, Tardeo Road, Mumbai – 400 007. Pan– Aadfh6590D (Appellant) (Respondent) Income Tax Officer Vs. Harshvardhan Construvctions Ward 23(1)(5), 1St Floor , 11, Happy Home, 244 Waterfield Road; Matru Mandir, Tardeo Road, Bandra West, Mumbai – 400 050. Mumbai – 400 007. Pan– Aadfh6590D Harshvardhan Constructions Income Tax Officer 11, Happy Home, 244 Waterfield Road; Ward 23(1)(5), 1St Floor, Vs. Bandra West, Mumbai – 400 050. Matru Mandir, Tardeo Road, Mumbai – 400 007. Pan– Aadfh6590D

For Appellant: Shri Nitesh Joshi, A.RFor Respondent: Shri S.C Tiwari, CIT D.R
Section 143(3)Section 147Section 80I

…Harshvardhan Constructions Vs. ITO, 23(1)(5), Mumbai – ITA No.5225/Mum/2017 & ITA No. 4730/Mum/2016 – A.Y 2011-12 & 2012-13 1 ITO, Ward 23(1)(5), Mumbai Vs. Harshvardhan Constructions – ITA No. 5912/Mum/2017, ITA No. 5523/Mum/2016 & ITA No. 5913/Mum/2017 A.Y 2011-12, A.Y 2012-13 & A.Y 2013-14 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “H” BENCH, MUMBAI Before Shri M. Balaganesh, Accountant Member and Shri Ravish Sood, Judicial Member Harshvardhan Constructions Income Tax Officer 11, Happy Home, 244 Waterfield road; Ward 23(1)(5), 1st Floor, Vs. Bandra West, Mumbai – 400 050. Matru Mandir, Tardeo Road, Mumbai –…

ITO 23(1)(5), Mumbai vs. Harshvardhan Constructions, Mumbai

ITA 5912/MUM/2017[2011-12]Status: DisposedITAT Mumbai09 Jul 2020AY 2011-12

Bench: Shri M. Balaganesh & Shri Ravish Soodharshvardhan Constructions Income Tax Officer 11, Happy Home, 244 Waterfield Road; Ward 23(1)(5), 1St Floor, Vs. Bandra West, Mumbai – 400 050. Matru Mandir, Tardeo Road, Mumbai – 400 007. Pan– Aadfh6590D (Appellant) (Respondent) Income Tax Officer Vs. Harshvardhan Construvctions Ward 23(1)(5), 1St Floor , 11, Happy Home, 244 Waterfield Road; Matru Mandir, Tardeo Road, Bandra West, Mumbai – 400 050. Mumbai – 400 007. Pan– Aadfh6590D Harshvardhan Constructions Income Tax Officer 11, Happy Home, 244 Waterfield Road; Ward 23(1)(5), 1St Floor, Vs. Bandra West, Mumbai – 400 050. Matru Mandir, Tardeo Road, Mumbai – 400 007. Pan– Aadfh6590D

For Appellant: Shri Nitesh Joshi, A.RFor Respondent: Shri S.C Tiwari, CIT D.R
Section 143(3)Section 147Section 80I

…Harshvardhan Constructions Vs. ITO, 23(1)(5), Mumbai – ITA No.5225/Mum/2017 & ITA No. 4730/Mum/2016 – A.Y 2011-12 & 2012-13 1 ITO, Ward 23(1)(5), Mumbai Vs. Harshvardhan Constructions – ITA No. 5912/Mum/2017, ITA No. 5523/Mum/2016 & ITA No. 5913/Mum/2017 A.Y 2011-12, A.Y 2012-13 & A.Y 2013-14 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “H” BENCH, MUMBAI Before Shri M. Balaganesh, Accountant Member and Shri Ravish Sood, Judicial Member Harshvardhan Constructions Income Tax Officer 11, Happy Home, 244 Waterfield road; Ward 23(1)(5), 1st Floor, Vs. Bandra West, Mumbai – 400 050. Matru Mandir, Tardeo Road, Mumbai –…

Smt. Rupal Dhupelia, Kolkata vs. DCIT, Central Circle - III, Kolkata

In the result, both the appeals are allowed

ITA 675/KOL/2011[2002-03]Status: DisposedITAT Kolkata15 Jun 2020AY 2002-03

Bench: Shri P.M.Jagtap, Vice- & Shri S.S.Godara

Section 147Section 148Section 69

…e unrebutted from the department side 8. We now advert to the assessees’ former substantive ground challenging validity of re-opening. We start with the settle legal proposition, first of all. Case law Calcutta Discount Co. Ltd. Vs. Income Tax Officer (1961) 41 ITR 191 (SC) held long back that a belief of any taxable income having remained unassessable by reasons of an assessee’s failure in disclosing all material facts fully and truly must not be based on mere suspicious but on relevant information / material only. Their lordships next judgment Income Tax Officer vs. Lakmani Mewal Das, (1976) 103 ITR 437 (SC) a…

Shri Manoj Kumar Dhupelia, Kolkata vs. DCIT, Central Circle - III, Kolkata

In the result, both the appeals are allowed

ITA 674/KOL/2011[2002-03]Status: DisposedITAT Kolkata15 Jun 2020AY 2002-03

Bench: Shri P.M.Jagtap, Vice- & Shri S.S.Godara

Section 147Section 148Section 69

…e unrebutted from the department side 8. We now advert to the assessees’ former substantive ground challenging validity of re-opening. We start with the settle legal proposition, first of all. Case law Calcutta Discount Co. Ltd. Vs. Income Tax Officer (1961) 41 ITR 191 (SC) held long back that a belief of any taxable income having remained unassessable by reasons of an assessee’s failure in disclosing all material facts fully and truly must not be based on mere suspicious but on relevant information / material only. Their lordships next judgment Income Tax Officer vs. Lakmani Mewal Das, (1976) 103 ITR 437 (SC) a…

ACIT (OSD), Ward - 12(3), Kolkata vs. M/S. Amrabathi Investra Pvt. Ltd., Kolkata

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

ITA 365/KOL/2018[2009-10]Status: DisposedITAT Kolkata12 Jun 2020AY 2009-10

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.231/Kol/2018 ("नधा"रणवष" / Assessment Year:2009-10)

For Appellant: Shri Subash Agarwal, AdvocateFor Respondent: Shri Ram Bilash Meena, CIT
Section 131Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “A”, BENCH KOLKATA BEFORE SHRI S.S.GODARA, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA No.231/Kol/2018 ("नधा"रणवष" / Assessment Year:2009-10) M/s Amrabathi Investra (P) Ltd. Vs. ITO, Ward-12(3), Kolkata C/o, Subash Agarwal & Associates Siddha Gibson, 1, Gibson Lane, 2nd Floor, Suite-213, Kolkata- 700069 "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AACCA 1312 Q (Appellant) .. (Respondent) आयकरअपीलसं./ITA No.365/Kol/2018 ("नधा"रणवष" / Assessment Year:2009-10) ACIT (OSD), Ward-12(3), Vs. M/s Amrabathi Investra (P) Ltd. Kolkata C/o, Subash Agarwal & Associates Siddha Gibson, 1, Gibson La…

Amrabathi Investra Pvt. Ltd., Kolkata vs. ITO, Ward - 12(3), Kolkata

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

ITA 231/KOL/2018[2009-10]Status: DisposedITAT Kolkata12 Jun 2020AY 2009-10

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.231/Kol/2018 ("नधा"रणवष" / Assessment Year:2009-10)

For Appellant: Shri Subash Agarwal, AdvocateFor Respondent: Shri Ram Bilash Meena, CIT
Section 131Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “A”, BENCH KOLKATA BEFORE SHRI S.S.GODARA, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA No.231/Kol/2018 ("नधा"रणवष" / Assessment Year:2009-10) M/s Amrabathi Investra (P) Ltd. Vs. ITO, Ward-12(3), Kolkata C/o, Subash Agarwal & Associates Siddha Gibson, 1, Gibson Lane, 2nd Floor, Suite-213, Kolkata- 700069 "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AACCA 1312 Q (Appellant) .. (Respondent) आयकरअपीलसं./ITA No.365/Kol/2018 ("नधा"रणवष" / Assessment Year:2009-10) ACIT (OSD), Ward-12(3), Vs. M/s Amrabathi Investra (P) Ltd. Kolkata C/o, Subash Agarwal & Associates Siddha Gibson, 1, Gibson La…

Ashapura Minechem Ltd, Mumbai vs. Deputy Commissioner of Income Tax, Central Circle 3(3), Mumbai

In the result, the appeal is allowed

ITA 6974/MUM/2017[2011-12]Status: DisposedITAT Mumbai27 May 2020AY 2011-12

Bench: Us Is A Listed Public Limited Company Engaged In The Business Of Mining Bauxite & Selling The Same In Domestic As Well As International Market. The Assessee Had Filed An Income Tax Return Disclosing Total Loss Of Rs 509.11 Crores Whereas The Assessment Under

Section 143(3)Section 155J

…tion. There is nothing whatsoever in the impugned notice issued by the Assessing Officer to indicate that he has applied his mind to this aspect of the matter. Learned counsel for the Revenue relies on the case of Calcutta Discount Company Ltd., v. ITO [1961] 41 ITR 191 (SC) to support his contention that it is not only the primary facts but inference to be drawn from such facts which also can form part of the material on which the Assessing Officer may form his belief. Learned counsel is right there. As the Supreme Court has explained in this case, from the primary facts in his possession, whether on disclosure…

ACIT, Chennai vs. Sri. K.Srikanth, Chennai

In the result, all the four appeals adjudicated by us in this order are partly allowed

ITA 1324/CHNY/2012[2001-02]Status: DisposedITAT Chennai19 May 2020AY 2001-02

Bench: Shri George Mathan & Shri Ramit Kochar

For Appellant: Mr. S.Sridhar, AdvFor Respondent: Dr. M.Srinivasa Rao, CIT
Section 143(3)Section 147Section 263

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH: CHENNAI "ी जॉज" माथन, "या"यक सद य एवं "ी र$मत कोचर, लेखा सद य के सम( BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.307/Chny/2010 & ITA Nos.1015 & 1016/Chny/2012 "नधा"रण वष" /Assessment Year: 2001-02 v. Shri K. Srikanth, The Asst. Commissioner of C/o. Shri S.Sridhar, Advocate Income Tax, New No.14, Old No.82, Flat No.5, Company Circle-II(4), 1st Avenue, Indira Nagar, Adyar, Chennai. Chennai-600 020. [PAN: AAFPS 6375 K] (अपीलाथ*/Appellant) (+,यथ*/Respondent) आयकर अपी…

Sri K.Srikanth, Chennai vs. ACIT, Chennai

In the result, all the four appeals adjudicated by us in this order are partly allowed

ITA 1016/CHNY/2012[2001-02]Status: DisposedITAT Chennai19 May 2020AY 2001-02

Bench: Shri George Mathan & Shri Ramit Kochar

For Appellant: Mr. S.Sridhar, AdvFor Respondent: Dr. M.Srinivasa Rao, CIT
Section 143(3)Section 147Section 263

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH: CHENNAI "ी जॉज" माथन, "या"यक सद य एवं "ी र$मत कोचर, लेखा सद य के सम( BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.307/Chny/2010 & ITA Nos.1015 & 1016/Chny/2012 "नधा"रण वष" /Assessment Year: 2001-02 v. Shri K. Srikanth, The Asst. Commissioner of C/o. Shri S.Sridhar, Advocate Income Tax, New No.14, Old No.82, Flat No.5, Company Circle-II(4), 1st Avenue, Indira Nagar, Adyar, Chennai. Chennai-600 020. [PAN: AAFPS 6375 K] (अपीलाथ*/Appellant) (+,यथ*/Respondent) आयकर अपी…