Canara Housing Development Co. v. DCIT

Sri S.R. Ravishankar, Bangalore vs. Principal Commissioner of Income Tax (Central), Bangalore

In the result, the appeal is allowed

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranassessment Year :2011-12 Shri.S. R. Ravishankar, Vs. Pr. Commissioner Of Income Tax No.80, 1St Main, Between 3Rd & 4Th (Central), Cross, Chamrajpet, Bengaluru. Bengaluru – 560 018. Pan : Aclpr 5363 C Appellant Respondent Assessee By : Shri. S. Ramasubramanian, Ca Revenue By : Shri. Sumer Singh Meena, Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 15.02.2022 Date Of Pronouncement : 22.02.2022 O R D E R

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B. R. BASKARAN, ACCOUNTANT MEMBER Assessment Year :2011-12 Shri.S. R. Ravishankar, Vs. Pr. Commissioner of Income Tax No.80, 1st Main, Between 3rd and 4th (Central), Cross, Chamrajpet, Bengaluru. Bengaluru – 560 018. PAN : ACLPR 5363 C APPELLANT RESPONDENT Assessee by : Shri. S. Ramasubramanian, CA Revenue by : Shri. Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru. Date of hearing : 15.02.2022 Date of Pronouncement : 22.02.2022 O R D E R Per N. V. Vasudevan, Vice President : This is an appeal by the assess…

M/S Oriental Logistics Company, Hospet vs. Deputy Commissioner of Income Tax Central Circle--1(1), Bangalore

In the result, all the three appeals of the assessee are allowed

Bench: Shri B. R. Baskaran & Smt. Beena Pillai

…. The Ld D.R, however, submitted that the AO is entitled to make any addition in the case of unabated assessment years also as per the decision rendered by jurisdictional Hon'ble Karnataka High Court in the case of Canara Housing Development Company vs. DCIT (274 CTR 122)(Kar). He submitted that the parties to whom the payments were made for purchase of minerals and transportation charges have disowned the transactions. Accordingly, he submitted that the AO was justified in making the impugned additions. 9. In the rejoinder, the Ld A.R submitted that the parties had initially denied transactions. However, they h…

M/S Oriental Logistics Company, Hospet vs. Deputy Commissioner of Income Tax Central Circle--1(1), Bangalore

In the result, all the three appeals of the assessee are allowed

Bench: Shri B. R. Baskaran & Smt. Beena Pillai

…. The Ld D.R, however, submitted that the AO is entitled to make any addition in the case of unabated assessment years also as per the decision rendered by jurisdictional Hon'ble Karnataka High Court in the case of Canara Housing Development Company vs. DCIT (274 CTR 122)(Kar). He submitted that the parties to whom the payments were made for purchase of minerals and transportation charges have disowned the transactions. Accordingly, he submitted that the AO was justified in making the impugned additions. 9. In the rejoinder, the Ld A.R submitted that the parties had initially denied transactions. However, they h…

M/S Oriental Logistics Company, Hospet vs. Deputy Commissioner of Income Tax Central Circle--1(1), Bangalore

In the result, all the three appeals of the assessee are allowed

Bench: Shri B. R. Baskaran & Smt. Beena Pillai

…. The Ld D.R, however, submitted that the AO is entitled to make any addition in the case of unabated assessment years also as per the decision rendered by jurisdictional Hon'ble Karnataka High Court in the case of Canara Housing Development Company vs. DCIT (274 CTR 122)(Kar). He submitted that the parties to whom the payments were made for purchase of minerals and transportation charges have disowned the transactions. Accordingly, he submitted that the AO was justified in making the impugned additions. 9. In the rejoinder, the Ld A.R submitted that the parties had initially denied transactions. However, they h…

M/S. Sri Devaraj Urs Educational Trust for Backward Classes (Regd), Kolar vs. Assistant Commissioner of Income Tax, Central Circle- 1(4), Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…nating material found during the course of search and as rightly pointed out by the ld. DR, it cannot be accepted that no incriminating material was found during the search action. The Hon’ble High Court of Karnataka in Canara Housing Development Co. v. DCIT, 274 CTR 122 (Kar) held that once the assessment is validly reopened, the AO has to take into account all the three types of income to complete the assessment or reassessment, as the case may be. The three types of income are (i) income disclosed in the return of income, (ii) undisclosed income during the search, and (iii) any other income which is not disclo…

M/S. Sri Devaraj Urs Educational Trust for Backward Classes (Regd), Kolar vs. Assistant Commissioner of Income Tax, Central Circle- 1(4), Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…nating material found during the course of search and as rightly pointed out by the ld. DR, it cannot be accepted that no incriminating material was found during the search action. The Hon’ble High Court of Karnataka in Canara Housing Development Co. v. DCIT, 274 CTR 122 (Kar) held that once the assessment is validly reopened, the AO has to take into account all the three types of income to complete the assessment or reassessment, as the case may be. The three types of income are (i) income disclosed in the return of income, (ii) undisclosed income during the search, and (iii) any other income which is not disclo…

M/S. Sri Devaraj Urs Educational Trust for Backward Classes (Regd), Kolar vs. Assistant Commissioner of Income Tax, Central Circle- 1(4), Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…nating material found during the course of search and as rightly pointed out by the ld. DR, it cannot be accepted that no incriminating material was found during the search action. The Hon’ble High Court of Karnataka in Canara Housing Development Co. v. DCIT, 274 CTR 122 (Kar) held that once the assessment is validly reopened, the AO has to take into account all the three types of income to complete the assessment or reassessment, as the case may be. The three types of income are (i) income disclosed in the return of income, (ii) undisclosed income during the search, and (iii) any other income which is not disclo…

M/S. Sri Devaraj Urs Educational Trust for Backward Classes (Regd), Kolar vs. Assistant Commissioner of Income Tax, Central Circle- 1(4), Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…nating material found during the course of search and as rightly pointed out by the ld. DR, it cannot be accepted that no incriminating material was found during the search action. The Hon’ble High Court of Karnataka in Canara Housing Development Co. v. DCIT, 274 CTR 122 (Kar) held that once the assessment is validly reopened, the AO has to take into account all the three types of income to complete the assessment or reassessment, as the case may be. The three types of income are (i) income disclosed in the return of income, (ii) undisclosed income during the search, and (iii) any other income which is not disclo…

M/S. Sri Devaraj Urs Educational Trust for Backward Classes (Regd), Kolar vs. Assistant Commissioner of Income Tax, Central Circle- 1(4), Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…nating material found during the course of search and as rightly pointed out by the ld. DR, it cannot be accepted that no incriminating material was found during the search action. The Hon’ble High Court of Karnataka in Canara Housing Development Co. v. DCIT, 274 CTR 122 (Kar) held that once the assessment is validly reopened, the AO has to take into account all the three types of income to complete the assessment or reassessment, as the case may be. The three types of income are (i) income disclosed in the return of income, (ii) undisclosed income during the search, and (iii) any other income which is not disclo…

M/S. Sri Devaraj Urs Educational Trust for Backward Classes (Regd), Kolar vs. Assistant Commissioner of Income Tax, Central Circle- 1(4), Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…nating material found during the course of search and as rightly pointed out by the ld. DR, it cannot be accepted that no incriminating material was found during the search action. The Hon’ble High Court of Karnataka in Canara Housing Development Co. v. DCIT, 274 CTR 122 (Kar) held that once the assessment is validly reopened, the AO has to take into account all the three types of income to complete the assessment or reassessment, as the case may be. The three types of income are (i) income disclosed in the return of income, (ii) undisclosed income during the search, and (iii) any other income which is not disclo…

M/S. Sri Devaraj Urs Educational Trust for Backward Classes (Regd), Kolar vs. Assistant Commissioner of Income Tax, Central Circle- 1(4), Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…nating material found during the course of search and as rightly pointed out by the ld. DR, it cannot be accepted that no incriminating material was found during the search action. The Hon’ble High Court of Karnataka in Canara Housing Development Co. v. DCIT, 274 CTR 122 (Kar) held that once the assessment is validly reopened, the AO has to take into account all the three types of income to complete the assessment or reassessment, as the case may be. The three types of income are (i) income disclosed in the return of income, (ii) undisclosed income during the search, and (iii) any other income which is not disclo…

Shri Jitendra Virwani, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle - 1(3), Bangalore

In the result, the appeals by the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri George George K.

…vt Ltd (ITA No. 1714 to l 717/Bang/2013) CIT Vs Kabul Chawla 380 ITR 573( Delhi) ITA Nos.1211 to 1217/Bang/2019 Page 8 of 73 16. The ld. AR further submitted that the decision of the Hon'ble Karnataka High Court in Canara Housing Development Company Vs DCIT 274 CTR 122 (Karn) relied on by the CIT(A) is not directly on the issue. The issue there was whether the Commissioner can revise an order of assessment passed u/s 143(3) of the Act after a search assessment has been made u/s 153A of the Act for the very same assessment year. The Hon'ble High Court held that the original order u/s 143(3) cannot be revised u/s…

Shri Jitendra Virwani, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle - 1(3), Bangalore

In the result, the appeals by the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri George George K.

…vt Ltd (ITA No. 1714 to l 717/Bang/2013) CIT Vs Kabul Chawla 380 ITR 573( Delhi) ITA Nos.1211 to 1217/Bang/2019 Page 8 of 73 16. The ld. AR further submitted that the decision of the Hon'ble Karnataka High Court in Canara Housing Development Company Vs DCIT 274 CTR 122 (Karn) relied on by the CIT(A) is not directly on the issue. The issue there was whether the Commissioner can revise an order of assessment passed u/s 143(3) of the Act after a search assessment has been made u/s 153A of the Act for the very same assessment year. The Hon'ble High Court held that the original order u/s 143(3) cannot be revised u/s…

Shri Jitendra Virwani, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle - 1(3), Bangalore

In the result, the appeals by the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri George George K.

…vt Ltd (ITA No. 1714 to l 717/Bang/2013) CIT Vs Kabul Chawla 380 ITR 573( Delhi) ITA Nos.1211 to 1217/Bang/2019 Page 8 of 73 16. The ld. AR further submitted that the decision of the Hon'ble Karnataka High Court in Canara Housing Development Company Vs DCIT 274 CTR 122 (Karn) relied on by the CIT(A) is not directly on the issue. The issue there was whether the Commissioner can revise an order of assessment passed u/s 143(3) of the Act after a search assessment has been made u/s 153A of the Act for the very same assessment year. The Hon'ble High Court held that the original order u/s 143(3) cannot be revised u/s…