CIT v. Emery Stone Manufacturing Company

213 ITR 843High Court1995#2704 most cited

What is CIT v. Emery Stone Manufacturing Company authority for?

The Commissioner can invoke revisional jurisdiction under Section 263 even when the assessee has disclosed all facts, if the Assessing Officer failed to examine those details in accordance with the correct provisions of law. Full disclosure does not provide immunity from revision if the assessment order is erroneous and prejudicial to the revenue due to the AO's inadequate inquiry.

43

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. Emery Stone Manufacturing Company · 213 ITR 843 · Section 263 · revisional jurisdiction · full disclosure no immunity · inadequate enquiry by AO · examination of correct provisions of law · erroneous and prejudicial to revenue · Commissioner's power Section 263

Sections most often in play

Section 263Section 147Section 10(38)Section 143(3)Section 270A(8)Section 270A(9)(a)Section 45Section 142(1)

Issues it is cited on

section 270a(9)(a)section 270a(8)section 153(3)section 263(1)faceless assessment schememalabar industrialprejudicial to interest of revenueinadequate enquirybogus ltcgbogus long term capital gainerroneous and prejudicialdeduction under section 80ia

Judgments citing CIT v. Emery Stone Manufacturing Company

M/S.Kerala State Industrial Dev Corpn Ltd, Trivandrum vs. The ACIT, Trivandrum

In the result, the appeal filed by the assessee is allowed

ITA 142/COCH/2017[2012-13]Status: DisposedITAT Cochin07 Feb 2019AY 2012-13

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

Section 135Section 263Section 37Section 37(1)

…claimed. The CIT relied on the judgment of the Gauhati High Court in the case of CIT Vs. Jawahar Bhattacharjee (2012) (341 ITR 434)(FB). He also relied on the judgment of the Rajasthan High Court in the case of CIT Vs. Emery Stone Manufacturing Co.(1995) (213 ITR 843) wherein it was held that failure to apply the correct provision of law as may be applicable in given facts of the case will be resulting in an erroneous order. Further, the CIT relied on the judgment of the Supreme Court in the case of Malabar Industrial Co. Ltd. Vs. CIT (2000) (243 ITR 83) wherein it was held as under: A. The CIT has to be…

ITO 2(1)(4), Mumbai vs. Canara Bank Securities Ltd, Mumbai

The appeal of the Revenue is dismissed

ITA 821/MUM/2016[2008-09]Status: DisposedITAT Mumbai07 Dec 2017AY 2008-09

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwalassessment Year: 2008-09 Income Tax Officer-2(1)(4), M/S Canara Bank Securities Room No.553, 5Th Floor, Ltd. बनाम/ Aayakar Bhavan, 7Th Floor, Maker Chamber-Iii, Vs. M.K. Road, Nariman Point, Mumbai-400020 Mumbai-400021 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No. Aaacg2218H

Section 115JSection 143(2)Section 143(3)Section 263Section 263oSection 56

…from fixed deposit with bank is to be assessed under the head ‘Income from other sources’ or as ‘Business income’. The CIT relied upon the following decisions : (i) CIT v. Jagdish Chand Walia & Sons. 234 ITR 595(P&H) (ii) CIT v. Emery Stone Manufacturing Co. 213 ITR 843 (Raj.) (iii) Mofussil Warehouse & Trading Co. Ltd. v. CIT 238 ITR 867(Mad.) (iv) Malabar Industrial Co. Ltd. v. CIT 243 ITR 83 (SC) 7. Aggrieved by the orders dated 19th March 2013 passed u/s 263 of the Act by the CIT, the assessee company is in appeal before us. 8. The assessee company submitted before us that the CIT has issued notice dated 26t…

Good Morning, Mumbai vs. CIT 15, Mumbai

In the result, the assessee’s appeal is dismissed

ITA 2533/MUM/2014[2009-10]Status: DisposedITAT Mumbai24 Jun 2016AY 2009-10

Bench: Shri Sanjay Arora, Am & Shri Amarjit Singh, Jm आयकर अपील सं./I.T.A. No.2533/Mum/2014 ("नधा"रण वष" / Assessment Year: 2009-10) Good Morning Cit-15, बनाम/ Shivtirth No. 2, E Wing, 124, Matru Mandir, 1St Floor, Tardeo Road, 4/6 Bhulabhai Desai Road, Haji Ali, Vs. Mumbai-400 026 Mumbai-400 007 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aadfp 2489 B (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : None ""यथ" क" ओर से/Respondent By : Shri Vidisha Kalra सुनवाई क" तार"ख / : 21.6.2016 Date Of Hearing घोषणा क" तार"ख / : 24.6.2016 Date Of Pronouncement आदेश / O R D E R Per Sanjay Arora, A. M.: This Is An Appeal By The Assessee Agitating The Revision Of Its Assessment U/S. 143(3) Of The Income Tax Act, 1961 (‘The Act’ Hereinafter) Dated 16.12.2011 By The Commissioner Of Income Tax-15, Mumbai (‘Cit’ For Short) Vide His Order U/S. 263 Of The Act Dated 24.3.2014 For The Assessment Year (A.Y.) 2009-10. 2. None Appeared For & On Behalf Of The Assessee When Its’ Appeal Was Called Out For Hearing. In Fact, We Observe No Appearance By The Assessee-Appellant On Any Date Of Hearing Despite Service Of Notices Of Hearing Per Registered Post. There Is Also No Adjournment Application On Record & Neither Has The Assessee, On The Basis Of The Material On Record, Appointed/Authorized Any Counsel To Represent Its’ Case Before The 2 Good Morning Vs. Cit Tribunal. The Appeal Contests The Order Of Revision, Which Is To Be Taken Up On A Priority Basis In-As-Much As It Has Implication On Quantum Assessment. It Was, Accordingly, Considered Proper To Proceed To Hear This Appeal Ex Parte The Assessee & Decide The Same On Merits After Hearing The Party Before Us & Considering The Material On Record.

For Appellant: NoneFor Respondent: Shri Vidisha Kalra
Section 143(3)Section 263

…आयकर अपील"य अ"धकरण “जी” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI SANJAY ARORA, AM AND SHRI AMARJIT SINGH, JM आयकर अपील सं./I.T.A. No.2533/Mum/2014 ("नधा"रण वष" / Assessment Year: 2009-10) Good Morning CIT-15, बनाम/ Shivtirth No. 2, E Wing, 124, Matru Mandir, 1st Floor, Tardeo Road, 4/6 Bhulabhai Desai Road, Haji Ali, Vs. Mumbai-400 026 Mumbai-400 007 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. AADFP 2489 B (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant by : None ""यथ" क" ओर से/Respondent by : Shri Vidisha Kalra सुनवाई क" तार"ख / : 21.6.2016 Date of H…