CIT v. Greenworld Corporation

314 ITR 81Supreme Court of India2009#472 most cited

What is CIT v. Greenworld Corporation authority for?

The Commissioner can revise an assessment order under Section 263 only if the Assessing Officer's order is both erroneous and prejudicial to the interest of the revenue. The Assessing Officer must have applied their mind and taken a possible view for the revision to be invalid.

197

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. Greenworld Corporation · Section 263 · erroneous assessment · prejudicial to revenue · commissioner revision powers · adequate enquiry · possible view · judicial function · appellate jurisdiction · conditions for revision

Also reported as

181 Taxmann 111

Sections most often in play

Section 263Section 143(3)Section 142(1)Section 147Section 148Section 143(2)Section 68Section 115BBE
Read the full judgment

Issues it is cited on

inadequate enquiryrevision u/s 263malabar industriallack of enquirysection 263(1)revision under section 263assessment order erroneoussection 120section 144aerroneous and prejudicialsection 119section 263

Judgments citing CIT v. Greenworld Corporation

Pramukh Aranya Developers, Junagadh vs. Pr. CIT, Rajkot-1, Rajkot

In the result, the appeal of the assessee (in ITA No

ITA 372/RJT/2024[2018-19]Status: DisposedITAT Rajkot28 Apr 2025AY 2018-19

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No.372 /Rjt/2024 (निर्धारण वर्ष/Assessment Year: (2018-19) M/S. Pramukh Aranya Developers Office No. 5, First Floor, Cit Centre, Opp. New Collector Officer, B/H. Sardar Baug, Junagadh - 362001 The Pr. Cit-1, Vs. Aayakar Bhawan, Race Course Ring Road, Rajkot - 360001 स्थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaofp3393F (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) निर्धारिती की ओर से/Appellant By राजस्व की प्रत्यर्थी ओर से/Respondent By : Shri Mehul Ranpura, Ld. Ar : Shri Sanjay Punglia, Ld.Cit (Dr) सुनवाई की तारीख / Date Of Hearing घोषणा की तारीख/Date Of Pronouncement Per Dr. A. L. Saini, Am: : 04/02/2025 : 28/04/2025 आदेश / Order By Way Of This Appeal, The Assessee Has Challenged The Correctness Of The Order Dated 30.03.2024, Passed By The Learned Principal Commissioner Of Income- Tax (In Short “Ld Pcit"), Under Section 263 Of The Income-Tax Act, 1961 (Hereinafter Referred To As 'The Act'), For The Assessment Year2018-19.Grievances Raised By The Assessee, Which, Being Interconnected, Will Be Taken Up Together, Are As Follows: M/S. Pramukh Aranya Developers V. Pcit

For Respondent: Shri Mehul Ranpura, Ld. AR
Section 143(3)Section 22Section 23(5)Section 263

…he order of revision. There was simply no necessity to remand the proceedings to the Assessing Officer when no further inquiries were called for or directed." 21.The Hon'ble Supreme Court of India has held in the case of CIT vs. Green world Corporation [2009] 314 ITR 81 (SC) that an order of assessment passed by ITO cannot be interfered with only because another view is possible. In fact, the Hon'ble Supreme Court has settled the issue in the case of Pr.CIT vs. SumatichandTolamalGouti [2019] 111 taxmann.com 287 (SC) wherein it was held that: “Where High Court upheld Tribunal's order holding that assessing officer…

Shree Auro Iron Limited, Jaipur vs. Principal Commissioner of Income Tax-I, Jaipur

In the result, this appeal of the assessee is allowed

ITA 788/JPR/2024[2016-17]Status: DisposedITAT Jaipur12 Mar 2025AY 2016-17
For Appellant: Shri Pravin Saraswant, CAFor Respondent: Mrs. Alka Gautam, CIT DR
Section 142(1)Section 143Section 145ASection 147Section 148Section 151Section 263Section 48

…e case of Malabar Industrial Co. Ltd. v. CIT [2000] 243 ITR 83 as also by the judgment of the Calcutta High Court in the case of Russell Properties (P.) Ltd. v. A. Chowdhury, Addl. CIT [1977] 109 ITR 229” 1.10.3 Greenworld Corporation – [2009] 181 Taxman 111, 314 ITR 81 (SC) Held at para No. 29: “The scope of provisions of section 263 of the Act is no longer res integra. The power to exercise of suomotu of revision in terms of section 263(1) is in the nature of supervisory jurisdiction and the same can be exercised only if the circumstances specified therein, viz., (1) the order is erroneous; (2) by virtue of the…

Jaiprakash L. Singh, Mumbai vs. ACIT 31(2)(1), Mumbai

In the result, the appeal filed by the assessee stands

ITA 1301/MUM/2024[2003-04]Status: DisposedITAT Mumbai25 Feb 2025AY 2003-04

Bench: Hon'Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 143(3)Section 148Section 234ASection 250

…e the Hon'ble tribunal. Thus, the tribunal does not have power to give any finding or direction in respect of another year which is not before the authority. RELIANCE PLACED ON:- • The decision of the apex court in the case of CIT v/s. Green World Corporation 314 ITR 81 (106) SC(Legal PB Pg. No. 3-6) wherein it was observed that the provision of s.150 although appears to be of a very wide amplitude, but would not mean that recourse to reopening of the proceedings in terms of s.147 and 148 can be initiated at any point of time whatsoever. Such a proceeding can be initiated only within the period of limitation pres…

Sanket Jhabak, Raipur vs. Principal Commissioner of Income Tax-1, Raipur

In the result, all the appeals filed by the captioned assessees are allowed in terms of our aforesaid observations

ITA 479/RPR/2024[2013-14]Status: DisposedITAT Raipur19 Feb 2025AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpia

For Appellant: Shri Nikhilesh Begani, Advocate
Section 1Section 147Section 148Section 148ASection 263

…le High Court while concluding as 35 Sanket Jhabak & Others Vs. Pr. CIT-1, Raipur ITA No.478 & 479/RPR/2024 ITA Nos. 233 to 237/RPR/2024 hereinabove had relied on the judgment of the Hon’ble Supreme Court in the case of CIT Vs. Greenworld Corporation (2009) 314 ITR 81 (SC). It was observed by the Hon’ble High Court that if the A.O adopts one of the two courses available under the law and it results in loss of revenue, then the order cannot be said to be erroneous or prejudicial to the interest of revenue within the meaning of section 263 of the Act. 34. At this stage, we may herein observe, that in case where…

Sampat Lal Jhabak, Raipur vs. Principal Commissioner of Income Tax-1, Raipur

In the result, all the appeals filed by the captioned assessees are allowed in terms of our aforesaid observations

ITA 478/RPR/2024[2013-14]Status: DisposedITAT Raipur19 Feb 2025AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpia

For Appellant: Shri Nikhilesh Begani, Advocate
Section 1Section 147Section 148Section 148ASection 263

…le High Court while concluding as 35 Sanket Jhabak & Others Vs. Pr. CIT-1, Raipur ITA No.478 & 479/RPR/2024 ITA Nos. 233 to 237/RPR/2024 hereinabove had relied on the judgment of the Hon’ble Supreme Court in the case of CIT Vs. Greenworld Corporation (2009) 314 ITR 81 (SC). It was observed by the Hon’ble High Court that if the A.O adopts one of the two courses available under the law and it results in loss of revenue, then the order cannot be said to be erroneous or prejudicial to the interest of revenue within the meaning of section 263 of the Act. 34. At this stage, we may herein observe, that in case where…

Smt. Pushpa Jhabak, Raipur vs. PCIT-1, Raipur

In the result, all the appeals filed by the captioned assessees are allowed in terms of our aforesaid observations

ITA 237/RPR/2024[2013-14]Status: DisposedITAT Raipur19 Feb 2025AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpia

For Appellant: Shri Nikhilesh Begani, Advocate
Section 1Section 147Section 148Section 148ASection 263

…le High Court while concluding as 35 Sanket Jhabak & Others Vs. Pr. CIT-1, Raipur ITA No.478 & 479/RPR/2024 ITA Nos. 233 to 237/RPR/2024 hereinabove had relied on the judgment of the Hon’ble Supreme Court in the case of CIT Vs. Greenworld Corporation (2009) 314 ITR 81 (SC). It was observed by the Hon’ble High Court that if the A.O adopts one of the two courses available under the law and it results in loss of revenue, then the order cannot be said to be erroneous or prejudicial to the interest of revenue within the meaning of section 263 of the Act. 34. At this stage, we may herein observe, that in case where…

Smt. Tilottama Jhabak, Raipur vs. PCIT-1, Raipur

In the result, all the appeals filed by the captioned assessees are allowed in terms of our aforesaid observations

ITA 236/RPR/2024[2013-14]Status: DisposedITAT Raipur19 Feb 2025AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpia

For Appellant: Shri Nikhilesh Begani, Advocate
Section 1Section 147Section 148Section 148ASection 263

…le High Court while concluding as 35 Sanket Jhabak & Others Vs. Pr. CIT-1, Raipur ITA No.478 & 479/RPR/2024 ITA Nos. 233 to 237/RPR/2024 hereinabove had relied on the judgment of the Hon’ble Supreme Court in the case of CIT Vs. Greenworld Corporation (2009) 314 ITR 81 (SC). It was observed by the Hon’ble High Court that if the A.O adopts one of the two courses available under the law and it results in loss of revenue, then the order cannot be said to be erroneous or prejudicial to the interest of revenue within the meaning of section 263 of the Act. 34. At this stage, we may herein observe, that in case where…

Smt. Sushila Devi Jhabak, Raipur vs. PCIT-1, Raipur

In the result, all the appeals filed by the captioned assessees are allowed in terms of our aforesaid observations

ITA 235/RPR/2024[2013-14]Status: DisposedITAT Raipur19 Feb 2025AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpia

For Appellant: Shri Nikhilesh Begani, Advocate
Section 1Section 147Section 148Section 148ASection 263

…le High Court while concluding as 35 Sanket Jhabak & Others Vs. Pr. CIT-1, Raipur ITA No.478 & 479/RPR/2024 ITA Nos. 233 to 237/RPR/2024 hereinabove had relied on the judgment of the Hon’ble Supreme Court in the case of CIT Vs. Greenworld Corporation (2009) 314 ITR 81 (SC). It was observed by the Hon’ble High Court that if the A.O adopts one of the two courses available under the law and it results in loss of revenue, then the order cannot be said to be erroneous or prejudicial to the interest of revenue within the meaning of section 263 of the Act. 34. At this stage, we may herein observe, that in case where…

Sanjog Jhabak L/H of Late Gautam Chand Jhabak, Raipur vs. Principal Commissioner of Income Tax, Raipur-1, Raipur

In the result, all the appeals filed by the captioned assessees are allowed in terms of our aforesaid observations

ITA 234/RPR/2024[2013-14]Status: DisposedITAT Raipur19 Feb 2025AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpia

For Appellant: Shri Nikhilesh Begani, Advocate
Section 1Section 147Section 148Section 148ASection 263

…le High Court while concluding as 35 Sanket Jhabak & Others Vs. Pr. CIT-1, Raipur ITA No.478 & 479/RPR/2024 ITA Nos. 233 to 237/RPR/2024 hereinabove had relied on the judgment of the Hon’ble Supreme Court in the case of CIT Vs. Greenworld Corporation (2009) 314 ITR 81 (SC). It was observed by the Hon’ble High Court that if the A.O adopts one of the two courses available under the law and it results in loss of revenue, then the order cannot be said to be erroneous or prejudicial to the interest of revenue within the meaning of section 263 of the Act. 34. At this stage, we may herein observe, that in case where…

Sanjog Jhabak, Raipur vs. Principal Commissioner of Income Tax, Raipur-1, Raipur

In the result, all the appeals filed by the captioned assessees are allowed in terms of our aforesaid observations

ITA 233/RPR/2024[2013-14]Status: DisposedITAT Raipur19 Feb 2025AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpia

For Appellant: Shri Nikhilesh Begani, Advocate
Section 1Section 147Section 148Section 148ASection 263

…le High Court while concluding as 35 Sanket Jhabak & Others Vs. Pr. CIT-1, Raipur ITA No.478 & 479/RPR/2024 ITA Nos. 233 to 237/RPR/2024 hereinabove had relied on the judgment of the Hon’ble Supreme Court in the case of CIT Vs. Greenworld Corporation (2009) 314 ITR 81 (SC). It was observed by the Hon’ble High Court that if the A.O adopts one of the two courses available under the law and it results in loss of revenue, then the order cannot be said to be erroneous or prejudicial to the interest of revenue within the meaning of section 263 of the Act. 34. At this stage, we may herein observe, that in case where…

Mohammad Osman Mohammaf Haroonmotiwala, Auranganbad vs. PCIT- Nashik 1, Nashik

In the result, the appeal of the assessee is allowed

ITA 1133/PUN/2024[2019-20]Status: DisposedITAT Pune05 Feb 2025AY 2019-20

Bench: Shri R.K. Panda & Ms. Astha Chandra

For Appellant: Shri Kishor B. PhadkeFor Respondent: Shri Amol Khairnar
Section 115BSection 133ASection 143(2)Section 143(3)Section 263Section 69Section 69B

…आयकर अपीलीय अधिकरण “ए” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE BEFORE SHRI R.K. PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER आयकर अपील सं. / ITA No.1133/PUN/2024 धििाारण वर्ा / Assessment Year : 2019-20 Mohammad Osman Mohammad PCIT -1, Nashik Haroon Motiwala, Opp. Arish Masjid, Yunus Colony, Vs. Aurangabad – 431001 PAN : APSPM4946E अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assessee by : Shri Kishor B. Phadke Department by : Shri Amol Khairnar Date of hearing : 07-11-2024 Date of 05-02-2025 Pronouncement : आदेश / ORDER PER ASTHA CHANDRA, JM : The appeal fil…

Horizon Dwellings Private Limited, Bareilly vs. PCIT, Bareilly

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 77/LKW/2022[2017-2018]Status: DisposedITAT Lucknow06 Jan 2025AY 2017-2018

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguriahorizon Dwellings Pvt Ltd V. Pcit, Bareilly, Navjeevan Appartments, Income Tax Department, Opposite Parag Factory, Bareilly (Up)-243001. Badaun Road, Kargaina, Bareilly-243001. Pan:Aacch6839F (Appellant) (Respondent) Appellant By: Shri Rakesh Garg, Adv. Respondent By: Shri Sunil Kumar Rajwanshi, Addl. Cit(Dr) O R D E R

For Appellant: Shri Rakesh Garg, AdvFor Respondent: Shri Sunil Kumar Rajwanshi, Addl
Section 143(3)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “B”, LUCKNOW BEFORE SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER AND SHRI SUBHASH MALGURIA, JUDICIAL MEMBER Horizon Dwellings Pvt Ltd v. PCIT, Bareilly, Navjeevan Appartments, Income Tax Department, Opposite Parag Factory, Bareilly (UP)-243001. Badaun Road, Kargaina, Bareilly-243001. PAN:AACCH6839F (Appellant) (Respondent) Appellant by: Shri Rakesh Garg, Adv. Respondent by: Shri Sunil Kumar Rajwanshi, Addl. CIT(DR) O R D E R PER ANADEE NATH MISSHRA, A.M.: (A) This is an appeal preferred by the assessee against the order of the Ld. Principal Commissioner of Incom…

M/S. Altrade Minerals Pvt. Limited, Rourkela vs. ACIT, Central Circle, Sambalpur

In the result, appeal of the assessee is partly allowed

ITA 65/CTK/2023[2011-12]Status: DisposedITAT Cuttack16 Dec 2024AY 2011-12

Bench: Before Shri George Mathanmember & Manish Agarwal Manish Agarwalassessment Year : 2011-12 M/S. Altrade Minerals Pvt /S. Altrade Minerals Pvt Vs. Asst. Asst. Commissioner Commissioner Of Of Ltd., C/O. Kadmawala & Co., C/O. Kadmawala & Co., Income Tax, Central Circle, Income Tax, Central Circle, C.A., C.A., Budhram Budhram Oram Oram Sambalpur Market, Market, Kachery Kachery Road, Road, Rourkela. Pan/Gir No. No.Aafca 7136 F (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri M.R.Sahu, Ca Revenue By : Shri S.C.Mohanty, Sr Dr : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 16/12/20 2024 Date Of Pronouncement : 16/12/20 024

For Appellant: Shri M.R.Sahu, CAFor Respondent: Shri S.C.Mohanty, Sr DR
Section 120(4)(b)Section 127Section 143(2)Section 143(3)Section 14A

…a legal issue which goes to the root of the matter can be raised at any stage before the appellate authorities. For the above propositions reliance is placed upon the following judicial pronouncements: Sl No Citation Forum Forum 1 CIT Vs. Green World (2009) 314 ITR 81 SC Corporation 2 Deepchand Kothari (1988) 171 ITR 381 Raj.HC Vs. CIT 3 ACIT Vs. Greater (2015)397 ITR 14 Alld.HC Noida Industrial Development 4 CIT Vs. Lalitkumar (2018) 404 ITR 63 Bom.HC Bardia 5 Smt.Prabha Rani (2013) 351 ITR 275 Alld.HC Agarwal Vs. ITO P a g e 19 | 63 ITA No.65/CTK /2023 Assessment Year : 2011-12 (5.2.1).Hon'ble Supreme Cou…

Dharambir, Gurgaon vs. Pr, CIT, Faridabad

In the result, appeal of the assessee is allowed

ITA 787/DEL/2022[2012-13]Status: DisposedITAT Delhi21 Oct 2024AY 2012-13

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar Usdharambir Vs. Pr. Cit Village-Nakhrola, Naharpur, C.R. Building, Faridabad, Gurgaon, Haryana. Haryana. Pan No.Aumpd4924E (Appellant) (Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “B” DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR US, JUDICIAL MEMBER Dharambir Vs. Pr. CIT Village-Nakhrola, Naharpur, C.R. Building, Faridabad, Gurgaon, Haryana. Haryana. PAN No.AUMPD4924E (APPELLANT) (RESPONDENT) Assessee by Shri Pramod Jain, CA Revenue by Shri Surender Pal, CIT DR Date of hearing: 08.10.2024 Date of Pronouncement: 21.10.2024 O R D E R PER PRADIP KUMAR KEDIA, AM: The captioned appeal has been filed at the instance of the assessee against the Principal Commissioner of Income Tax, Faridabad (PCIT) dated 21.0…

V.S. Natarajan, Thanjavur vs. ACIT, CC-3(2), Chennai

In the result both the appeals filed by the assessee are allowed

ITA 1604/CHNY/2024[2020-21]Status: DisposedITAT Chennai18 Oct 2024AY 2020-21

Bench: Shri Manu Kumar Giri, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita Nos.: 1603 & 1604/Chny/2024 िनधा"रण वष" / Assessment Years: 2019-20 & 2020-21 Valikaramuthu Subramanian Assistant Commissioner Of Natarajan, V. Income-Tax, No. 104-B, 3Rd Street, Central Circle -3(2), Mangalapuram, Medical College Chennai. Road, Voc Nagar, Thanjavur – 613 007. [Pan: Acypn-0616-R] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Y. Sridhar, Fca ""यथ" क" ओर से/Respondent By : Shri. Nilay Baran Som, Cit सुनवाई की तारीख/Date Of Hearing : 26.09.2024 घोषणा की तारीख/Date Of Pronouncement : 18.10.2024 आदेश /O R D E R Per S. R. Raghunatha:

For Appellant: Shri. Y. Sridhar, FCAFor Respondent: Shri. Nilay Baran Som, CIT
Section 142(1)Section 153CSection 263

…ous and prejudicial. An order of assessment passed by the Assessing Officer should not be interfered with only because another view is possible as held in the case of Malabar Industrial Company Ltd Vs. CIT (243 ITR 83)(SC) and CIT Vs. Green World Corporation (314 ITR 81)(SC). 12. The Principal CIT can invoke section 263 if on examination of records he forms an opinion that the order passed by the Assessing Authority is erroneous in so far as it is prejudicial to the interest of the revenue. The learned Principal CIT, failed to note that a revision order cannot be passed against an order of assessment merely on t…

V.S. Natarajan, Thanjavur vs. ACIT, CC-3(2), Chennai

In the result both the appeals filed by the assessee are allowed

ITA 1603/CHNY/2024[2019-20]Status: DisposedITAT Chennai18 Oct 2024AY 2019-20

Bench: Shri Manu Kumar Giri, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita Nos.: 1603 & 1604/Chny/2024 िनधा"रण वष" / Assessment Years: 2019-20 & 2020-21 Valikaramuthu Subramanian Assistant Commissioner Of Natarajan, V. Income-Tax, No. 104-B, 3Rd Street, Central Circle -3(2), Mangalapuram, Medical College Chennai. Road, Voc Nagar, Thanjavur – 613 007. [Pan: Acypn-0616-R] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Y. Sridhar, Fca ""यथ" क" ओर से/Respondent By : Shri. Nilay Baran Som, Cit सुनवाई की तारीख/Date Of Hearing : 26.09.2024 घोषणा की तारीख/Date Of Pronouncement : 18.10.2024 आदेश /O R D E R Per S. R. Raghunatha:

For Appellant: Shri. Y. Sridhar, FCAFor Respondent: Shri. Nilay Baran Som, CIT
Section 142(1)Section 153CSection 263

…ous and prejudicial. An order of assessment passed by the Assessing Officer should not be interfered with only because another view is possible as held in the case of Malabar Industrial Company Ltd Vs. CIT (243 ITR 83)(SC) and CIT Vs. Green World Corporation (314 ITR 81)(SC). 12. The Principal CIT can invoke section 263 if on examination of records he forms an opinion that the order passed by the Assessing Authority is erroneous in so far as it is prejudicial to the interest of the revenue. The learned Principal CIT, failed to note that a revision order cannot be passed against an order of assessment merely on t…

Versatile Card Technology Private Limited, Sidco, Chromepet, Chennai vs. Principal Commissioner of Income Tax, Chennai-3, Income Tax Office, Main Building - IV Floor, Nungambakkam, Chennai

ITA 1392/CHNY/2024[2016-2017]Status: DisposedITAT Chennai18 Oct 2024AY 2016-2017

Bench: Shri Aby T. Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 1392/Chny/2024 िनधा"रणवष" / Assessment Year: 2016-17 Versatile Card Technology Private Principal Commissioner Of Limited, V. Income Tax, Chennai -3, Ac-21, 4Th Main Road, Sidco Income Tax Office, Main Industrial Estate, Building, Iv Floor, Thirumudivakkam, Nungambakkam, Chennai. Chrompet, Chennai – 600 044. [Pan:Aabcv-0567-B] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. Gopal Krishna Raju, Ca ""यथ"क"ओरसे/Respondent By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 06.08.2024 घोषणा क" तारीख/Date Of Pronouncement : 18.10.2024 आदेश /O R D E R

For Appellant: Shri. Gopal Krishna Raju, CAFor Respondent: Shri. Nilay Baran Som, CIT
Section 115JSection 143(3)Section 148Section 263

…ous and prejudicial. An order of assessment passed by the Assessing Officer should not be interfered with only because another view is possible as held in the case of Malabar Industrial Company Ltd Vs.CIT (243 ITR 83) (SC) and CIT Vs. Green World Corporation (314 ITR 81)(SC). 9. The Principal CIT can invoke section 263 if on examination of records he forms an opinion that the order passed by the Assessing Authority is erroneous in so far as it is prejudicial to the interest of the revenue. The learned Principal CIT, failed to note that a revision order cannot be passed against an order of assessment merely on th…

Goutam Ghosh, Howrah vs. P.C.I.T., Kolkata - 13, Kolkata

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

ITA 1080/KOL/2024[2018-2019]Status: DisposedITAT Kolkata16 Oct 2024AY 2018-2019

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

Section 263Section 45Section 56(2)(X)Section 56(2)(x)Section 69

…by the bona fide of the assessee's arguments before him and not taken any adverse view in this very same matter. Right at the outset, this case would be decided in favour of the appellant following the case of CIT vs. Greenworld Corporation reported in [2009] 314 ITR 81 (SC). However, a more compelling reason to decide the issued in favour of the appellant would be the provisions of Section 45(5A) of the Act, which was brought into the statute books by the Finance Act, 2017 to hold as under: “[(5A) Notwithstanding anything contained in sub-section (1), where the capital gain arises to an assessee, being an indivi…

Arihant Retail Pvt. Ltd., Chennai vs. PCIT-1, Chennai

In the result the appeal of the assessee is allowed

ITA 1308/CHNY/2024[2018-19]Status: DisposedITAT Chennai09 Oct 2024AY 2018-19

Bench: Shri Mahavir Singh, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita No.: 1308/Chny/2024 िनधा"रण वष" / Assessment Year: 2018-19 Arihant Retail Private Limited, Principal Commissioner Of 29, Namachivaya Chetty Street, V. Income Tax -1, Old Washermanpet, Chennai – 600 034. Chennai – 600 021. [Pan: Aaics-3648-F] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. T. Banusekar, Advocate अपीलाथ" क" ओर से/Appellant By ""यथ" क" ओर से/Respondent By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 07.08.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.10.2024

For Respondent: Shri. Nilay Baran Som, CIT
Section 142(1)Section 143(3)Section 2(24)(x)Section 263Section 69C

…ous and prejudicial. An order of assessment passed by the Assessing Officer should not be interfered with only because another view is possible as held in the case of Malabar Industrial Company Ltd Vs.CIT (243 ITR 83) (SC) and CIT Vs. Green World Corporation (314 ITR 81)(SC). 17. The Principal CIT can invoke section 263 if on examination of records he forms an opinion that the order passed by the Assessing Authority is erroneous in so far as it is prejudicial to the interest of the revenue. The learned Principal CIT, failed to note that a revision order cannot be passed against an order of assessment merely on t…

Adani Wilmar Limited, Ahmedabad vs. The Pr. CIT-1, Ahmedabad

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

ITA 777/AHD/2024[2018-19]Status: DisposedITAT Ahmedabad25 Sept 2024AY 2018-19

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinhaआयकर अपील सं./Ita No. 777/Ahd/2024 िनधा"रण वष"/Asstt. Year: 2018-2019 Adani Wilmar Limited, The Principal 3 Rd Floor, बनामVs Commissioner Of . Nr. Navrangpura Railway Income Tax-1, Crossing, Ahmedabad. Fortune House, Ahmedabad-380009. Pan: Aabca8056G

For Appellant: Shri Vartik Choksi, ARFor Respondent: Shri Sudhendu Das, CIT. DR
Section 143(3)Section 14ASection 263

…Court decision in the case of CIT vs G M Mittal Stainless Steel Pvt. Ltd. 263 ITR 255. Asst. Year 2018-19 4 d. Hon’ble High Court in the case of CIT vs. Sunbeam Auto Ltd. 332 ITR 167. e. Decision of Hon’ble S.C in the case of CIT vs/ Greenworld Corporation, 314 ITR 81(SC). f. Hon’ble Gujarat High Court in the case of PCIT vs. Minal Doshi [2020] 121 taxmann.com 30 g. Hon’ble Gujarat High Court in the case PCIT vs Asian Box Corporation [2023] 156 taxmann.com 76. h. Hon’ble High Court in the case of CIT vs. Dhaneswar Rath Institute of Engineering & Medical Sciences (2023) 147 taxmann.com 469. i. Hon’ble Apex cour…