Canyon Financial Services Ltd. v. ITO

399 ITR 202High Court2017#2312 most cited

What is Canyon Financial Services Ltd. v. ITO authority for?

Proceedings under Section 153C are invalid if the Assessing Officer records a mechanical satisfaction note without proper application of mind, regarding seized material belonging to or pertaining to a person other than the searched person.

50

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2025.

Also referred to as

Canyon Financial Services Ltd. v. ITO · Section 153C · satisfaction note · mechanical satisfaction note · non-application of mind · validity of 153C proceedings · documents seized · assessment of other person · search assessment

Also reported as

84 Taxmann.com 71253 Taxmann 341

Sections most often in play

Section 132Section 143(3)Section 153ASection 153CSection 132ASection 139Section 142Section 147

Issues it is cited on

section 153c(1)section 158bdblock periodsection 65bsatisfaction notedocuments seizedsection 132(4a)income escaping assessmentsection 132anon application of mindinterest u/s 234bsection 292c

Judgments citing Canyon Financial Services Ltd. v. ITO

Sandip Bhanudas Tupe, Pune vs. Assistant Commissioner of Income-Tax

ITA 2108/PUN/2013[2006-07]Status: DisposedITAT Pune19 Sept 2018AY 2006-07

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अऩीऱ सं. / Ita No.2108/Pun/2013 यनधाारण वषा / Assessment Year : 2006-07 Shri Sandip Bhanudas Tupe, S. No. 202, Sade-Stra-Nali, Near Vitthal Mandir, Hadapsar, Pune – 411028 Pan : Aampt1909M .......अऩीऱाथी / Appellant बनाम / V/S. Assistant Commissioner Of Income Tax, Central Circle – 2(1), Pune ……प्रत्यथी / Respondent आयकर अऩीऱ सं. / Ita No.2109/Pun/2013 यनधाारण वषा / Assessment Year : 2006-07 Shri Sopan Dhondiba Tupe, S. No. 202, Sade-Stra-Nali, Near Vitthal Mandir, Hadapsar, Pune – 411028 Pan : Aajpt0436E .......अऩीऱाथी / Appellant बनाम / V/S. Assistant Commissioner Of Income Tax, Central Circle – 2(1), Pune ……प्रत्यथी / Respondent आयकर अऩीऱ सं. / Ita Nos.2110 & 2111/Pun/2013 यनधाारण वषा / Assessment Years : 2006-07 & 2009-10

Section 132Section 132(4)Section 143(3)Section 147

…ct and assessment framed in furtherance thereto under sec 147 read with sec 143(3) of the act are void ab initio. The reassessment in question is accordingly quashed. 10. Decision of Delhi High Court in case of Canyon Financial Services Ltd V ITO reported in 84 Taxmann.com 71 relied upon by the Ld DR on facts has come to the conclusion that documents found in case of searched case does not belong to the other person. It is therefore submitted that the decision does not have any adverse effect on the facts of the case of the appellant. 11. The decision of Pune ITAT in case of Sushilkumar N adkarni ITA no. 826/PN…

M/S. M.L. Singhi & Associates (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, we hold that addition of share capital in the year under consideration has been made without relying on any incriminating material found during the course of search

ITA 3337/DEL/2017[2008-09]Status: DisposedITAT Delhi17 Sept 2018AY 2008-09

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 3335/Del/2017 : Asstt. Year : 2006-07

For Appellant: Sh. Gautam Jain, Adv. &For Respondent: Smt. Shefali Swaroop, CIT DR
Section 153ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. N. K. Saini, AM and Sh. Kuldip Singh, JM ITA No. 3335/Del/2017 : Asstt. Year : 2006-07 ITA No. 3336/Del/2017 : Asstt. Year : 2007-08 ITA No. 3337/Del/2017 : Asstt. Year : 2008-09 M/s M.L. Singhi & Associates (P) Vs Deputy Commissioner of Income Ltd., Brahmaputra House, A-7, Tax, Central Circle-7, NH-8, Mahipalpur Crossing, New Delhi Mahipalpur, New Delhi-110037 (APPELLANT) (RESPONDENT) PAN No. AAACM8160E Assessee by : Sh. Gautam Jain, Adv. & Sh. Piyush Kumar Kamal, Adv. Revenue by : Smt. Shefali Swaroop, CIT DR Sh. S. R. Senapati, Sr. D…

M/S. M.L. Singhi & Associates (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, we hold that addition of share capital in the year under consideration has been made without relying on any incriminating material found during the course of search

ITA 3336/DEL/2017[2007-08]Status: DisposedITAT Delhi17 Sept 2018AY 2007-08

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 3335/Del/2017 : Asstt. Year : 2006-07

For Appellant: Sh. Gautam Jain, Adv. &For Respondent: Smt. Shefali Swaroop, CIT DR
Section 153ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. N. K. Saini, AM and Sh. Kuldip Singh, JM ITA No. 3335/Del/2017 : Asstt. Year : 2006-07 ITA No. 3336/Del/2017 : Asstt. Year : 2007-08 ITA No. 3337/Del/2017 : Asstt. Year : 2008-09 M/s M.L. Singhi & Associates (P) Vs Deputy Commissioner of Income Ltd., Brahmaputra House, A-7, Tax, Central Circle-7, NH-8, Mahipalpur Crossing, New Delhi Mahipalpur, New Delhi-110037 (APPELLANT) (RESPONDENT) PAN No. AAACM8160E Assessee by : Sh. Gautam Jain, Adv. & Sh. Piyush Kumar Kamal, Adv. Revenue by : Smt. Shefali Swaroop, CIT DR Sh. S. R. Senapati, Sr. D…

M/S. M.L. Singhi & Associates (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, we hold that addition of share capital in the year under consideration has been made without relying on any incriminating material found during the course of search

ITA 3335/DEL/2017[2006-07]Status: DisposedITAT Delhi17 Sept 2018AY 2006-07

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 3335/Del/2017 : Asstt. Year : 2006-07

For Appellant: Sh. Gautam Jain, Adv. &For Respondent: Smt. Shefali Swaroop, CIT DR
Section 153ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. N. K. Saini, AM and Sh. Kuldip Singh, JM ITA No. 3335/Del/2017 : Asstt. Year : 2006-07 ITA No. 3336/Del/2017 : Asstt. Year : 2007-08 ITA No. 3337/Del/2017 : Asstt. Year : 2008-09 M/s M.L. Singhi & Associates (P) Vs Deputy Commissioner of Income Ltd., Brahmaputra House, A-7, Tax, Central Circle-7, NH-8, Mahipalpur Crossing, New Delhi Mahipalpur, New Delhi-110037 (APPELLANT) (RESPONDENT) PAN No. AAACM8160E Assessee by : Sh. Gautam Jain, Adv. & Sh. Piyush Kumar Kamal, Adv. Revenue by : Smt. Shefali Swaroop, CIT DR Sh. S. R. Senapati, Sr. D…

Bondugula Krishna Reddy, R.R.Dist, Hyderabad vs. DCIT, Central Circle-7, Hyd, Hyderabad

In the result, the assessee’s appeals are treated as partly allowed

ITA 1119/HYD/2016[2008-09]Status: DisposedITAT Hyderabad11 May 2018AY 2008-09

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri K.A. Sai PrasadFor Respondent: Shri AGV Prasad
Section 132Section 143(3)Section 153CSection 68

…ns any evidence found during the search belongs to assessee. He relied on the following cases: 1. Pr. CIT Vs. Vinita Chaurasia [2017] 394 2. CIT Vs. Sinhgad Technical Education Society [2017] 397 ITR 344 (SC). 3. Canyon Financial Services Ltd. Vs. ITO, [2017] 399 ITR 202 4. Shri Ch. Damodar Rao in ITA Nos. 948 to 951/Hyd/2013 27/04/2018. 7. Ld. DR, on the other hand, filed a paper book during the hearing, which contains copy of questionnaire issued to the assessee, and details of seized material. In reference to the above paper book, he submitted that he could fetch only the above information as search material w…

Bondugula Krishna Reddy, R.R.Dist, Hyderabad vs. DCIT, Central Circle-7, Hyd, Hyderabad

In the result, the assessee’s appeals are treated as partly allowed

ITA 1118/HYD/2016[2007-08]Status: DisposedITAT Hyderabad11 May 2018AY 2007-08

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri K.A. Sai PrasadFor Respondent: Shri AGV Prasad
Section 132Section 143(3)Section 153CSection 68

…ns any evidence found during the search belongs to assessee. He relied on the following cases: 1. Pr. CIT Vs. Vinita Chaurasia [2017] 394 2. CIT Vs. Sinhgad Technical Education Society [2017] 397 ITR 344 (SC). 3. Canyon Financial Services Ltd. Vs. ITO, [2017] 399 ITR 202 4. Shri Ch. Damodar Rao in ITA Nos. 948 to 951/Hyd/2013 27/04/2018. 7. Ld. DR, on the other hand, filed a paper book during the hearing, which contains copy of questionnaire issued to the assessee, and details of seized material. In reference to the above paper book, he submitted that he could fetch only the above information as search material w…

Bondugula Krishna Reddy, R.R.Dist, Hyderabad vs. DCIT, Central Circle-7, Hyd, Hyderabad

In the result, the assessee’s appeals are treated as partly allowed

ITA 1117/HYD/2016[2006-07]Status: DisposedITAT Hyderabad11 May 2018AY 2006-07

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri K.A. Sai PrasadFor Respondent: Shri AGV Prasad
Section 132Section 143(3)Section 153CSection 68

…ns any evidence found during the search belongs to assessee. He relied on the following cases: 1. Pr. CIT Vs. Vinita Chaurasia [2017] 394 2. CIT Vs. Sinhgad Technical Education Society [2017] 397 ITR 344 (SC). 3. Canyon Financial Services Ltd. Vs. ITO, [2017] 399 ITR 202 4. Shri Ch. Damodar Rao in ITA Nos. 948 to 951/Hyd/2013 27/04/2018. 7. Ld. DR, on the other hand, filed a paper book during the hearing, which contains copy of questionnaire issued to the assessee, and details of seized material. In reference to the above paper book, he submitted that he could fetch only the above information as search material w…

Bondugula Krishna Reddy, R.R.Dist, Hyderabad vs. DCIT, Central Circle-7, Hyd, Hyderabad

In the result, the assessee’s appeals are treated as partly allowed

ITA 1116/HYD/2016[2005-06]Status: DisposedITAT Hyderabad11 May 2018AY 2005-06

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri K.A. Sai PrasadFor Respondent: Shri AGV Prasad
Section 132Section 143(3)Section 153CSection 68

…ns any evidence found during the search belongs to assessee. He relied on the following cases: 1. Pr. CIT Vs. Vinita Chaurasia [2017] 394 2. CIT Vs. Sinhgad Technical Education Society [2017] 397 ITR 344 (SC). 3. Canyon Financial Services Ltd. Vs. ITO, [2017] 399 ITR 202 4. Shri Ch. Damodar Rao in ITA Nos. 948 to 951/Hyd/2013 27/04/2018. 7. Ld. DR, on the other hand, filed a paper book during the hearing, which contains copy of questionnaire issued to the assessee, and details of seized material. In reference to the above paper book, he submitted that he could fetch only the above information as search material w…

Adarsh Kumar, New Delhi vs. DCIT, New Delhi

ITA 5096/DEL/2015[2010-11]Status: DisposedITAT Delhi15 Nov 2017AY 2010-11

Bench: Shri H.S. Sidhu & Shri L.P. Sahu

For Appellant: Sh. Amit Goel, & Nippun Mital, CAsFor Respondent: Sh. Ms. Rachna Singh, CIT(DR)
Section 132Section 132(1)Section 153C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER ITA Nos. 5095, 5096 & 5097/DEL/2015 A.Yrs. : 2009-10, 2010-11 & 2011-12 ADARSH KUMAR, VS DCIT, CENTRAL CIRCLE-19, 23, SUDHARSHAN APARTMENT, NEW DELHI I.P. EXTENSION, NEW DELHI (PAN: AAAPK6345G) (APPELLANT) (RESPONDENT) Assessee by : Sh. Amit Goel, & Nippun Mital, CAs Department by : Sh. Ms. Rachna Singh, CIT(DR) ORDER PER H.S. SIDHU, JM These are the 03 appeals of assessee are directed against the separate orders of CIT(A)-XXVII, New Delhi all dated 09.6.2015 relating…

Adarsh Kumar, New Delhi vs. DCIT, New Delhi

ITA 5095/DEL/2015[2009-10]Status: DisposedITAT Delhi15 Nov 2017AY 2009-10

Bench: Shri H.S. Sidhu & Shri L.P. Sahu

For Appellant: Sh. Amit Goel, & Nippun Mital, CAsFor Respondent: Sh. Ms. Rachna Singh, CIT(DR)
Section 132Section 132(1)Section 153C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER ITA Nos. 5095, 5096 & 5097/DEL/2015 A.Yrs. : 2009-10, 2010-11 & 2011-12 ADARSH KUMAR, VS DCIT, CENTRAL CIRCLE-19, 23, SUDHARSHAN APARTMENT, NEW DELHI I.P. EXTENSION, NEW DELHI (PAN: AAAPK6345G) (APPELLANT) (RESPONDENT) Assessee by : Sh. Amit Goel, & Nippun Mital, CAs Department by : Sh. Ms. Rachna Singh, CIT(DR) ORDER PER H.S. SIDHU, JM These are the 03 appeals of assessee are directed against the separate orders of CIT(A)-XXVII, New Delhi all dated 09.6.2015 relating…