CIT v. Foramer France

Palanisamy Gounder Loganathan, Karur vs. ITO, Ward-1, Karur

Bench: Shri Aby T. Varkey & Shri Jagadish

…relevant assessment year, unless there is failure on the part of the assessee to disclose fully and truly all facts necessary for his assessment for that assessment year. 21. It is noted that, the Hon'ble Supreme Court in the case of CIT Vs. Foramers France (264 ITR 566) has similarly held that, an assessment completed u/s 143(3) cannot be reopened merely upon change of opinion with reference to facts already available with the AO at the time of regular assessment. In the opinion of the Apex Court, a regular assessment u/s 143(3) could not be reopened after expiry of 4 years from end of assessment year unless e…

M. Velusamy, Karur vs. ITO, Ward-1, Karur

In the result, all the appeals t, all the appeals stand allowed

Bench: Shri Aby T. Varkey & Shri Jagadish

…ary for his truly all facts necessary for his assessment for that assessment year. assessment for that assessment year. 21. It is noted that, t It is noted that, the Hon’ble Supreme Court in the case of Supreme Court in the case of CIT Vs. Foramers France (264 ITR 566) has similarly held that, an assessment similarly held that, an assessment Foramers France (264 ITR 566) completed u/s 143(3) cannot be reopened mer completed u/s 143(3) cannot be reopened merely upon change of opinion change of opinion with reference to facts already available with the AO at the time of regular with reference to facts already…

M. Velusamy, Karur vs. ITO, Ward-1, Karur

In the result, all the appeals t, all the appeals stand allowed

Bench: Shri Aby T. Varkey & Shri Jagadish

…ary for his truly all facts necessary for his assessment for that assessment year. assessment for that assessment year. 21. It is noted that, t It is noted that, the Hon’ble Supreme Court in the case of Supreme Court in the case of CIT Vs. Foramers France (264 ITR 566) has similarly held that, an assessment similarly held that, an assessment Foramers France (264 ITR 566) completed u/s 143(3) cannot be reopened mer completed u/s 143(3) cannot be reopened merely upon change of opinion change of opinion with reference to facts already available with the AO at the time of regular with reference to facts already…

S. Aravind, Karur vs. ITO, Ward-1, Karur

In the result, all the appeals t, all the appeals stand allowed

Bench: Shri Aby T. Varkey & Shri Jagadish

…ary for his truly all facts necessary for his assessment for that assessment year. assessment for that assessment year. 21. It is noted that, t It is noted that, the Hon’ble Supreme Court in the case of Supreme Court in the case of CIT Vs. Foramers France (264 ITR 566) has similarly held that, an assessment similarly held that, an assessment Foramers France (264 ITR 566) completed u/s 143(3) cannot be reopened mer completed u/s 143(3) cannot be reopened merely upon change of opinion change of opinion with reference to facts already available with the AO at the time of regular with reference to facts already…

Income Tax Officer, Chennai vs. Macmillan Education India Private Limited, Chennai

In the result, the appeal filed by the revenue and cross objection filed by the assessee are dismissed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S.R.Raghunatha, Hon’Bleआयकर अपीलसं./Ita No.: 2036/Chny/2024 & Co No.: 66/Chny/2024 िनधा"रणवष" / Assessment Year: 2013-14 Income Tax Officer, Macmillan Education India Corporate Ward -4(1), V. Private Limited, Chennai – 600 034. No.21, Patullos Road, Chennai – 600 002. [Pan:Aafcm-5564-R] (अपीलाथ"/Appellant) (Respondent/Cross Objector) Assessee By : Mr. S.P. Chidambaram, Advocate : Ms. R. Anita, Addl.Cit Department By सुनवाई क" तार"ख/Date Of Hearing : 22.11.2024 घोषणा क" तार"ख/Date Of Pronouncement : 30.01.2025 आदेश /O R D E R

…years without any fresh materials available for reopening and hence, the same was quashed by this Tribunal by :-17-: ITA. No:2036/Chny/2024 & CO No: 66/Chny/2024 relying on the decision of the Hon’ble Supreme Court in the case of CIT Vs.Foramer France (2003) 264 ITR 566, wherein the Hon’ble Supreme Court affirmed the decision of Hon’ble Allahabad High Court in the case of Foramer France Vs. CIT (2001) 247 ITR 436, in its order dated 26.09.2022 vide ITA No. 2784/Chny/2019 by holding as under: “6.3 Having gone through the reasons for re-opening u/s 147 of the Act and the appellant's written submission and other d…

ACIT, Corporate Corporate Circle -1 (1), Chennai vs. Fl Smidth Private Limited, Kanchipuram

In the result, the appeal filed by the Revenue is dismissed and the cross objection filed by the assessee is partly-allowed

Bench: Shri George George Kand Shri S.R. Raghunatha

…rt of the assessee to disclose fully and truly all material facts. Further, all the material facts are available at the time of making original assessment. The Tribunal has correctly followed the principles enunciated in the Supreme Court judgment reported in 264 ITR 566 cited supra, as well as this Court judgment reported in CIT v. Foramer France [2003] 264 ITR 566 as well as this Court judgment in the case of Commissioner of Income-tax Vs. Elgi Finance Ltd. (supra) and came to the correct conclusion.” ii) The Hon’ble High Court of Madras in the case of CIT vs. Elgi Ultra Industries Ltd., reported in [2008] 296…

Manipal Financial Services, Chennai vs. ITO, Business Ward Xv(4), Chennai

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

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.:947/Chny/2024 िनधा"रण वष"/Assessment Year:2005-06 Manipal Financial Services, The Income Tax Officer, 328, Plaza Centre, Business Ward Xv(4), Vs. 129 Gn Chetty Road, Chennai. Chennai – 600 006. Pan: Aakfm 7449R (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri S. Sridhar, Advocate ""यथ" क" ओर से/Respondent By : Ms. R.Anita, Jcit सुनवाई क" तारीख/Date Of Hearing : 10.09.2024 घोषणा क" तारीख/Date Of Pronouncement : 12.09.2024 आदेश /O R D E R Per Mahavir Singh: This Appeal By The Assessee Is Arising Out Of The Order Of The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre, Delhi In Order No.Itba/Nfac/S/250/2023-24/ 1061661390(1) Dated 28.02.2024. The Assessment Was Framed By The Income Tax Officer, Business Ward Xv(4), Chennai For The Assessment Year 2005-06 U/S.147 R.W.S. 143(3) Of The Income Tax Act, 1961 (Hereinafter The ‘Act’) Vide Order Dated 25.03.2013. 2. The First Issue In This Appeal Of Assessee Is As Regards To The Order Of Cit(A)-Nfac Confirming The Action Of The Ao In Assuming Jurisdiction U/S.147 Of The Act & Consequently Confirmed The Reassessment Order.

…details in regard to TDS certificates and receipts mentioned therein and the AO framed assessment having these information. Now, this issue is squarely covered by the decision of Hon’ble Supreme Court in the case of CIT vs. Foramer France, reported in (2003) 264 ITR 566, wherein the Hon’ble Supreme Court has affirmed the decision of Hon’ble Allahabad High Court in the case of Foramer France vs. CIT, (2001) 247 ITR 436, wherein it is held as under:- 14. Having heard learned counsel for the parties, we are of the view that these petitions deserve to be allowed. 15. It may be mentioned that a new Section substitute…