CIT v. Atlas Cycle Industries

Sh. Ravinder Singh Lohia, New Delhi vs. ITO, New Delhi

In the result, the appeal of the assessee is allowed

Bench: Shri B.P. Jain

…done on the basis of reasons recorded on incorrect facts. That being so the reasons are in fact no reasons at all. This view finds support from the decision of Hon'ble Punjab and Haryana High Court in the case of CIT Versus Atlas Cycles Industries reported in 180 ITR 319. On these counts itself notice issued under section 147 of the Act initiating reassessment would not stand the test of law.” 8. In the facts and circumstances of the case, reassessment so initiated on the basis of material found in search of third party, no notice u/s 148 can be issued and the Assessing Officer does not acquire jurisdiction u/s…

Sh. Tajendra Kumar Ghai, New Delhi vs. ITO- 1(5), Rudrapur

In the result appeal of assessee is allowed

Bench: Shri Bhavnesh Saini

…essment recorded incorrect facts in the reasons for reopening of assessment. Therefore reopening of the assessment u/s 147 is clearly invalid and bad in law. I rely decision of Hon’ble Punjab & Haryana High Court in the case of CIT vs. Atlas Cycle Industries 180 ITR 319. Further the AO after obtaining the AIR information wanted to verify the same and issued a letter of enquiry to the assessee. The AO thus did not apply in his independent mind to the information received from AIR. Since no proceedings were pending before AO when he issued the letter of enquiry to the assessee, therefore such enquiry letter was…

Sh. Tajendra Kumar Ghai, New Delhi vs. ITO- 1(5), Rudrapur

In the result appeal of assessee is allowed

Bench: Shri Bhavnesh Saini

…essment recorded incorrect facts in the reasons for reopening of assessment. Therefore reopening of the assessment u/s 147 is clearly invalid and bad in law. I rely decision of Hon’ble Punjab & Haryana High Court in the case of CIT vs. Atlas Cycle Industries 180 ITR 319. Further the AO after obtaining the AIR information wanted to verify the same and issued a letter of enquiry to the assessee. The AO thus did not apply in his independent mind to the information received from AIR. Since no proceedings were pending before AO when he issued the letter of enquiry to the assessee, therefore such enquiry letter was…

T V Today Network Ltd., New Delhi vs. Addl. CIT, New Delhi

Accordingly grounds raised by assessee on legal as well as on merits stands allowed

Bench: Sh. R. K. Panda & Smt. Beena A. Pillaischleicher India Ltd. Dcit C/O M/S Rra Taxindia Central Circle-09, Vs. D-28, South Extension, Part-I New Delhi New Delhi Pan : Aaacm1960G (Appellant) (Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “G”, NEW DELHI BEFORE SH. R. K. PANDA, ACCOUNTANT MEMBER AND SMT. BEENA A. PILLAI, JUDICIAL MEMBER Schleicher India Ltd. DCIT C/o M/s RRA Taxindia Central Circle-09, Vs. D-28, South Extension, Part-I New Delhi New Delhi PAN : AAACM1960G (Appellant) (Respondent) Appellant by : Dr. Rakesh Kupta, Sh. Somil Aggarwal, Advs. Respondent by : Sh. N. K. Bansal, Sr.DR Date of hearing : 21.03.2017 Date of pronouncement : 24.03.2017 O R D E R PER BEENA A. PILLAI, J.M : 1. The present appeal has been preferred by assessee against order, dated 30.09.2013 passed by Ld. CIT(A…

Commissioner of Income Tax Delhi-1 vs. Allied Strips Ltd

The appeals are dismissed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…tax is paid by the assessee under section 140A or otherwise. Mr Aggarwal placed emphasis on the expression ―or otherwise‖ appearing in the phrase ―tax is paid by the assessee under section 140A or otherwise.‖ Referring to CIT v. Atlas Cycle Industries: 180 ITR 319, which considered a similar provision appearing in section 215(2), the learned senior counsel submitted that the expression "or otherwise" in sub-section (2) of section 234B signifies that in whatever manner tax is paid, it shall be taken note of in ITA Nos. 402/2005 & Others Page No.19 of 44 calculating the interest. He submitted furt…

CIT vs. Negolice India Pvt Ltd

The appeals are dismissed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…tax is paid by the assessee under section 140A or otherwise. Mr Aggarwal placed emphasis on the expression ―or otherwise‖ appearing in the phrase ―tax is paid by the assessee under section 140A or otherwise.‖ Referring to CIT v. Atlas Cycle Industries: 180 ITR 319, which considered a similar provision appearing in section 215(2), the learned senior counsel submitted that the expression "or otherwise" in sub-section (2) of section 234B signifies that in whatever manner tax is paid, it shall be taken note of in ITA Nos. 402/2005 & Others Page No.19 of 44 calculating the interest. He submitted furt…

Commissioner of Income Tax Delhi vs. Ajanta Offset & Packaging Ltd

The appeals are dismissed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…tax is paid by the assessee under section 140A or otherwise. Mr Aggarwal placed emphasis on the expression ―or otherwise‖ appearing in the phrase ―tax is paid by the assessee under section 140A or otherwise.‖ Referring to CIT v. Atlas Cycle Industries: 180 ITR 319, which considered a similar provision appearing in section 215(2), the learned senior counsel submitted that the expression "or otherwise" in sub-section (2) of section 234B signifies that in whatever manner tax is paid, it shall be taken note of in ITA Nos. 402/2005 & Others Page No.19 of 44 calculating the interest. He submitted furt…

The Commissioner of Income Tax vs. Surya Roshni Ltd

The appeals are dismissed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…tax is paid by the assessee under section 140A or otherwise. Mr Aggarwal placed emphasis on the expression ―or otherwise‖ appearing in the phrase ―tax is paid by the assessee under section 140A or otherwise.‖ Referring to CIT v. Atlas Cycle Industries: 180 ITR 319, which considered a similar provision appearing in section 215(2), the learned senior counsel submitted that the expression "or otherwise" in sub-section (2) of section 234B signifies that in whatever manner tax is paid, it shall be taken note of in ITA Nos. 402/2005 & Others Page No.19 of 44 calculating the interest. He submitted furt…

CIT vs. Ocl India Ltd

The appeals are dismissed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…tax is paid by the assessee under section 140A or otherwise. Mr Aggarwal placed emphasis on the expression ―or otherwise‖ appearing in the phrase ―tax is paid by the assessee under section 140A or otherwise.‖ Referring to CIT v. Atlas Cycle Industries: 180 ITR 319, which considered a similar provision appearing in section 215(2), the learned senior counsel submitted that the expression "or otherwise" in sub-section (2) of section 234B signifies that in whatever manner tax is paid, it shall be taken note of in ITA Nos. 402/2005 & Others Page No.19 of 44 calculating the interest. He submitted furt…

Commissioner of Income Tax vs. Nehru Place Hotels Ltd

The appeals are dismissed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…tax is paid by the assessee under section 140A or otherwise. Mr Aggarwal placed emphasis on the expression ―or otherwise‖ appearing in the phrase ―tax is paid by the assessee under section 140A or otherwise.‖ Referring to CIT v. Atlas Cycle Industries: 180 ITR 319, which considered a similar provision appearing in section 215(2), the learned senior counsel submitted that the expression "or otherwise" in sub-section (2) of section 234B signifies that in whatever manner tax is paid, it shall be taken note of in ITA Nos. 402/2005 & Others Page No.19 of 44 calculating the interest. He submitted furt…

Commissioner of Income Tax vs. Mitsubishi Corporation India P

The appeals are dismissed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…tax is paid by the assessee under section 140A or otherwise. Mr Aggarwal placed emphasis on the expression ―or otherwise‖ appearing in the phrase ―tax is paid by the assessee under section 140A or otherwise.‖ Referring to CIT v. Atlas Cycle Industries: 180 ITR 319, which considered a similar provision appearing in section 215(2), the learned senior counsel submitted that the expression "or otherwise" in sub-section (2) of section 234B signifies that in whatever manner tax is paid, it shall be taken note of in ITA Nos. 402/2005 & Others Page No.19 of 44 calculating the interest. He submitted furt…

Commissioner of Income Tax V vs. M/S Nestle India Ltd

The appeals are dismissed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…tax is paid by the assessee under section 140A or otherwise. Mr Aggarwal placed emphasis on the expression ―or otherwise‖ appearing in the phrase ―tax is paid by the assessee under section 140A or otherwise.‖ Referring to CIT v. Atlas Cycle Industries: 180 ITR 319, which considered a similar provision appearing in section 215(2), the learned senior counsel submitted that the expression "or otherwise" in sub-section (2) of section 234B signifies that in whatever manner tax is paid, it shall be taken note of in ITA Nos. 402/2005 & Others Page No.19 of 44 calculating the interest. He submitted furt…

Commissioner of Income Tax Delhi III vs. Samtel Color Ltd

The appeals are dismissed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…tax is paid by the assessee under section 140A or otherwise. Mr Aggarwal placed emphasis on the expression ―or otherwise‖ appearing in the phrase ―tax is paid by the assessee under section 140A or otherwise.‖ Referring to CIT v. Atlas Cycle Industries: 180 ITR 319, which considered a similar provision appearing in section 215(2), the learned senior counsel submitted that the expression "or otherwise" in sub-section (2) of section 234B signifies that in whatever manner tax is paid, it shall be taken note of in ITA Nos. 402/2005 & Others Page No.19 of 44 calculating the interest. He submitted furt…

Commissioner of Income Tax vs. Indraprastha Medical Corporation Ltd

The appeals are dismissed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…tax is paid by the assessee under section 140A or otherwise. Mr Aggarwal placed emphasis on the expression ―or otherwise‖ appearing in the phrase ―tax is paid by the assessee under section 140A or otherwise.‖ Referring to CIT v. Atlas Cycle Industries: 180 ITR 319, which considered a similar provision appearing in section 215(2), the learned senior counsel submitted that the expression "or otherwise" in sub-section (2) of section 234B signifies that in whatever manner tax is paid, it shall be taken note of in ITA Nos. 402/2005 & Others Page No.19 of 44 calculating the interest. He submitted furt…

Commissioner of Income Tax Del vs. M/S Jindal Exports Ltd

The appeals are dismissed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…tax is paid by the assessee under section 140A or otherwise. Mr Aggarwal placed emphasis on the expression ―or otherwise‖ appearing in the phrase ―tax is paid by the assessee under section 140A or otherwise.‖ Referring to CIT v. Atlas Cycle Industries: 180 ITR 319, which considered a similar provision appearing in section 215(2), the learned senior counsel submitted that the expression "or otherwise" in sub-section (2) of section 234B signifies that in whatever manner tax is paid, it shall be taken note of in ITA Nos. 402/2005 & Others Page No.19 of 44 calculating the interest. He submitted furt…

Commissioner of Income Tax Delhi I vs. Anant Raj Industries P. Ltd

The appeals are dismissed

…tax is paid by the assessee under section 140A or otherwise. Mr Aggarwal placed emphasis on the expression ―or otherwise‖ appearing in the phrase ―tax is paid by the assessee under section 140A or otherwise.‖ Referring to CIT v. Atlas Cycle Industries: 180 ITR 319, which considered a similar provision appearing in section 215(2), the learned senior counsel submitted that the expression "or otherwise" in sub-section (2) of section 234B 2009:DHC:430-DB calculating the interest. He submitted further that the expression ―or otherwise‖ was wide enough to take within its sweep the available MAT credit and…

Commissioner of Income Tax vs. C.J.International Hotels Ltd

The appeals are dismissed

…tax is paid by the assessee under section 140A or otherwise. Mr Aggarwal placed emphasis on the expression ―or otherwise‖ appearing in the phrase ―tax is paid by the assessee under section 140A or otherwise.‖ Referring to CIT v. Atlas Cycle Industries: 180 ITR 319, which considered a similar provision appearing in section 215(2), the learned senior counsel submitted that the expression "or otherwise" in sub-section (2) of section 234B 2009:DHC:431-DB calculating the interest. He submitted further that the expression ―or otherwise‖ was wide enough to take within its sweep the available MAT credit and…

Commissioner of Income Tax Delhi II vs. Leroy Somer & Controls India P.Ltd

The appeals are dismissed

…tax is paid by the assessee under section 140A or otherwise. Mr Aggarwal placed emphasis on the expression ―or otherwise‖ appearing in the phrase ―tax is paid by the assessee under section 140A or otherwise.‖ Referring to CIT v. Atlas Cycle Industries: 180 ITR 319, which considered a similar provision appearing in section 215(2), the learned senior counsel submitted that the expression "or otherwise" in sub-section (2) of section 234B 2009:DHC:423-DB calculating the interest. He submitted further that the expression ―or otherwise‖ was wide enough to take within its sweep the available MAT credit and…

CIT vs. Ocl India Ltd

The appeals are dismissed

…tax is paid by the assessee under section 140A or otherwise. Mr Aggarwal placed emphasis on the expression ―or otherwise‖ appearing in the phrase ―tax is paid by the assessee under section 140A or otherwise.‖ Referring to CIT v. Atlas Cycle Industries: 180 ITR 319, which considered a similar provision appearing in section 215(2), the learned senior counsel submitted that the expression "or otherwise" in sub-section (2) of section 234B 2009:DHC:439-DB calculating the interest. He submitted further that the expression ―or otherwise‖ was wide enough to take within its sweep the available MAT credit and…