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

Dr. Prannoy Roy, New Delhi vs. DCIT, New Delhi

ITA 2022/DEL/2017[2010-11]Status: DisposedITAT Delhi14 Jun 2019AY 2010-11

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Sachit Jolly, AdvFor Respondent: Shri Girish Dave, Adv
Section 147Section 148

…g has been made at the instance of the investigation wing and the dictate of the higher authorities, is not sustainable in law. To support his contentions, he further relied upon the decision of Honourable supreme court in CIT v. Greenworld Corporation [2009] 314 ITR 81 (SC) and Munjal Showa Corpo 382 ITR 555. Even otherwise, he submitted that the report of the investigation wing directing the learned assessing officer to initiate the reassessment proceedings is a question of law and not of a fact. The reasons are required to be recorded as per the reason to believe of the assessing officer and not of any other p…

Dr. Prannoy Roy, New Delhi vs. DCIT, New Delhi

ITA 2021/DEL/2017[2009-10]Status: DisposedITAT Delhi14 Jun 2019AY 2009-10

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Sachit Jolly, AdvFor Respondent: Shri Girish Dave, Adv
Section 147Section 148

…g has been made at the instance of the investigation wing and the dictate of the higher authorities, is not sustainable in law. To support his contentions, he further relied upon the decision of Honourable supreme court in CIT v. Greenworld Corporation [2009] 314 ITR 81 (SC) and Munjal Showa Corpo 382 ITR 555. Even otherwise, he submitted that the report of the investigation wing directing the learned assessing officer to initiate the reassessment proceedings is a question of law and not of a fact. The reasons are required to be recorded as per the reason to believe of the assessing officer and not of any other p…

Smt. Radhika Roy, New Delhi vs. DCIT, New Delhi

ITA 2020/DEL/2017[2010-11]Status: DisposedITAT Delhi14 Jun 2019AY 2010-11

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Sachit Jolly, AdvFor Respondent: Shri Girish Dave, Adv
Section 147Section 148

…g has been made at the instance of the investigation wing and the dictate of the higher authorities, is not sustainable in law. To support his contentions, he further relied upon the decision of Honourable supreme court in CIT v. Greenworld Corporation [2009] 314 ITR 81 (SC) and Munjal Showa Corpo 382 ITR 555. Even otherwise, he submitted that the report of the investigation wing directing the learned assessing officer to initiate the reassessment proceedings is a question of law and not of a fact. The reasons are required to be recorded as per the reason to believe of the assessing officer and not of any other p…

Smt. Radhika Roy, New Delhi vs. DCIT, New Delhi

ITA 2019/DEL/2017[2009-10]Status: DisposedITAT Delhi14 Jun 2019AY 2009-10

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Sachit Jolly, AdvFor Respondent: Shri Girish Dave, Adv
Section 147Section 148

…g has been made at the instance of the investigation wing and the dictate of the higher authorities, is not sustainable in law. To support his contentions, he further relied upon the decision of Honourable supreme court in CIT v. Greenworld Corporation [2009] 314 ITR 81 (SC) and Munjal Showa Corpo 382 ITR 555. Even otherwise, he submitted that the report of the investigation wing directing the learned assessing officer to initiate the reassessment proceedings is a question of law and not of a fact. The reasons are required to be recorded as per the reason to believe of the assessing officer and not of any other p…

The ACIT, Cen-Circle-1, Kozhikkode vs. M/S.Ardra Associates, Thrissur

In the result, the appeals of the assessee are allowed and the appeals of

ITA 379/COCH/2017[2014-15]Status: DisposedITAT Cochin30 Apr 2019AY 2014-15

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. Nos. 374 To 379/Coch/2017 Assessment Years : 2008-09 To 2012-13 & 2014-15

Section 131Section 142ASection 143(3)Section 263

…s taken one possible view in this case. Thus, it cannot be said that the assessment order passed was erroneous and prejudicial to the interests of the Revenue. In view of the ratio laid down by the Supreme Court in the case of CIT vs. Greenworld Corporation (314 ITR 81), we find that the Assessing Officer has passed the assessment order after application of mind and considered the value of the property declared in the books of account of the assessee as correct, therefore, the CIT was not justified in interfering with the assessment order on the basis of the valuation report received after the assessment order…

The ACIT, Cen-Circle-1, Kozhikkode vs. M/S.Ardra Associates, Thrissur

In the result, the appeals of the assessee are allowed and the appeals of

ITA 378/COCH/2017[2012-13]Status: DisposedITAT Cochin30 Apr 2019AY 2012-13

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. Nos. 374 To 379/Coch/2017 Assessment Years : 2008-09 To 2012-13 & 2014-15

Section 131Section 142ASection 143(3)Section 263

…s taken one possible view in this case. Thus, it cannot be said that the assessment order passed was erroneous and prejudicial to the interests of the Revenue. In view of the ratio laid down by the Supreme Court in the case of CIT vs. Greenworld Corporation (314 ITR 81), we find that the Assessing Officer has passed the assessment order after application of mind and considered the value of the property declared in the books of account of the assessee as correct, therefore, the CIT was not justified in interfering with the assessment order on the basis of the valuation report received after the assessment order…

The ACIT, Cen-Circle-1, Kozhikkode vs. M/S.Ardra Associates, Thrissur

In the result, the appeals of the assessee are allowed and the appeals of

ITA 377/COCH/2017[2011-12]Status: DisposedITAT Cochin30 Apr 2019AY 2011-12

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. Nos. 374 To 379/Coch/2017 Assessment Years : 2008-09 To 2012-13 & 2014-15

Section 131Section 142ASection 143(3)Section 263

…s taken one possible view in this case. Thus, it cannot be said that the assessment order passed was erroneous and prejudicial to the interests of the Revenue. In view of the ratio laid down by the Supreme Court in the case of CIT vs. Greenworld Corporation (314 ITR 81), we find that the Assessing Officer has passed the assessment order after application of mind and considered the value of the property declared in the books of account of the assessee as correct, therefore, the CIT was not justified in interfering with the assessment order on the basis of the valuation report received after the assessment order…

The ACIT, Cen-Circle-1, Kozhikkode vs. M/S.Ardra Associates, Thrissur

In the result, the appeals of the assessee are allowed and the appeals of

ITA 376/COCH/2017[2010-11]Status: DisposedITAT Cochin30 Apr 2019AY 2010-11

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. Nos. 374 To 379/Coch/2017 Assessment Years : 2008-09 To 2012-13 & 2014-15

Section 131Section 142ASection 143(3)Section 263

…s taken one possible view in this case. Thus, it cannot be said that the assessment order passed was erroneous and prejudicial to the interests of the Revenue. In view of the ratio laid down by the Supreme Court in the case of CIT vs. Greenworld Corporation (314 ITR 81), we find that the Assessing Officer has passed the assessment order after application of mind and considered the value of the property declared in the books of account of the assessee as correct, therefore, the CIT was not justified in interfering with the assessment order on the basis of the valuation report received after the assessment order…

The ACIT, Cen-Circle-1, Kozhikkode vs. M/S.Ardra Associates, Thrissur

In the result, the appeals of the assessee are allowed and the appeals of

ITA 375/COCH/2017[2009-10]Status: DisposedITAT Cochin30 Apr 2019AY 2009-10

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. Nos. 374 To 379/Coch/2017 Assessment Years : 2008-09 To 2012-13 & 2014-15

Section 131Section 142ASection 143(3)Section 263

…s taken one possible view in this case. Thus, it cannot be said that the assessment order passed was erroneous and prejudicial to the interests of the Revenue. In view of the ratio laid down by the Supreme Court in the case of CIT vs. Greenworld Corporation (314 ITR 81), we find that the Assessing Officer has passed the assessment order after application of mind and considered the value of the property declared in the books of account of the assessee as correct, therefore, the CIT was not justified in interfering with the assessment order on the basis of the valuation report received after the assessment order…

The ACIT, Cen-Circle-1, Kozhikkode vs. M/S.Ardra Associates, Thrissur

In the result, the appeals of the assessee are allowed and the appeals of

ITA 374/COCH/2017[2008-09]Status: DisposedITAT Cochin30 Apr 2019AY 2008-09

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. Nos. 374 To 379/Coch/2017 Assessment Years : 2008-09 To 2012-13 & 2014-15

Section 131Section 142ASection 143(3)Section 263

…s taken one possible view in this case. Thus, it cannot be said that the assessment order passed was erroneous and prejudicial to the interests of the Revenue. In view of the ratio laid down by the Supreme Court in the case of CIT vs. Greenworld Corporation (314 ITR 81), we find that the Assessing Officer has passed the assessment order after application of mind and considered the value of the property declared in the books of account of the assessee as correct, therefore, the CIT was not justified in interfering with the assessment order on the basis of the valuation report received after the assessment order…

M/S.Ardra Associates, Trichur vs. The DCIT, Calicut

In the result, the appeals of the assessee are allowed and the appeals of

ITA 499/COCH/2016[2012-13]Status: DisposedITAT Cochin30 Apr 2019AY 2012-13

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. Nos. 374 To 379/Coch/2017 Assessment Years : 2008-09 To 2012-13 & 2014-15

Section 131Section 142ASection 143(3)Section 263

…s taken one possible view in this case. Thus, it cannot be said that the assessment order passed was erroneous and prejudicial to the interests of the Revenue. In view of the ratio laid down by the Supreme Court in the case of CIT vs. Greenworld Corporation (314 ITR 81), we find that the Assessing Officer has passed the assessment order after application of mind and considered the value of the property declared in the books of account of the assessee as correct, therefore, the CIT was not justified in interfering with the assessment order on the basis of the valuation report received after the assessment order…

M/S.Ardra Associates, Trichur vs. The DCIT, Calicut

In the result, the appeals of the assessee are allowed and the appeals of

ITA 498/COCH/2016[2011-12]Status: DisposedITAT Cochin30 Apr 2019AY 2011-12

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. Nos. 374 To 379/Coch/2017 Assessment Years : 2008-09 To 2012-13 & 2014-15

Section 131Section 142ASection 143(3)Section 263

…s taken one possible view in this case. Thus, it cannot be said that the assessment order passed was erroneous and prejudicial to the interests of the Revenue. In view of the ratio laid down by the Supreme Court in the case of CIT vs. Greenworld Corporation (314 ITR 81), we find that the Assessing Officer has passed the assessment order after application of mind and considered the value of the property declared in the books of account of the assessee as correct, therefore, the CIT was not justified in interfering with the assessment order on the basis of the valuation report received after the assessment order…

M/S.Ardra Associates, Trichur vs. The DCIT, Calicut

In the result, the appeals of the assessee are allowed and the appeals of

ITA 497/COCH/2016[2010-11]Status: DisposedITAT Cochin30 Apr 2019AY 2010-11

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. Nos. 374 To 379/Coch/2017 Assessment Years : 2008-09 To 2012-13 & 2014-15

Section 131Section 142ASection 143(3)Section 263

…s taken one possible view in this case. Thus, it cannot be said that the assessment order passed was erroneous and prejudicial to the interests of the Revenue. In view of the ratio laid down by the Supreme Court in the case of CIT vs. Greenworld Corporation (314 ITR 81), we find that the Assessing Officer has passed the assessment order after application of mind and considered the value of the property declared in the books of account of the assessee as correct, therefore, the CIT was not justified in interfering with the assessment order on the basis of the valuation report received after the assessment order…

M/S.Ardra Associates, Trichur vs. The DCIT, Calicut

In the result, the appeals of the assessee are allowed and the appeals of

ITA 496/COCH/2016[2009-10]Status: DisposedITAT Cochin30 Apr 2019AY 2009-10

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. Nos. 374 To 379/Coch/2017 Assessment Years : 2008-09 To 2012-13 & 2014-15

Section 131Section 142ASection 143(3)Section 263

…s taken one possible view in this case. Thus, it cannot be said that the assessment order passed was erroneous and prejudicial to the interests of the Revenue. In view of the ratio laid down by the Supreme Court in the case of CIT vs. Greenworld Corporation (314 ITR 81), we find that the Assessing Officer has passed the assessment order after application of mind and considered the value of the property declared in the books of account of the assessee as correct, therefore, the CIT was not justified in interfering with the assessment order on the basis of the valuation report received after the assessment order…

M/S.Ardra Associates, Trichur vs. The DCIT(, Trivandrum

In the result, the appeals of the assessee are allowed and the appeals of

ITA 495/COCH/2016[2008-09]Status: DisposedITAT Cochin30 Apr 2019AY 2008-09

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. Nos. 374 To 379/Coch/2017 Assessment Years : 2008-09 To 2012-13 & 2014-15

Section 131Section 142ASection 143(3)Section 263

…s taken one possible view in this case. Thus, it cannot be said that the assessment order passed was erroneous and prejudicial to the interests of the Revenue. In view of the ratio laid down by the Supreme Court in the case of CIT vs. Greenworld Corporation (314 ITR 81), we find that the Assessing Officer has passed the assessment order after application of mind and considered the value of the property declared in the books of account of the assessee as correct, therefore, the CIT was not justified in interfering with the assessment order on the basis of the valuation report received after the assessment order…

Tata Consultancy Services Limited, Mumbai vs. Commissioner of Income Tax - Large Taxpayer'S Unit, Mumbai

In the result, appeal of the assessee in ITA no

ITA 2794/MUM/2018[2011-12]Status: DisposedITAT Mumbai18 Apr 2019AY 2011-12

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.2794/Mum/2018 (नििाारण वर्ा / Assessment Year: 2011-12) Tata Consultancy Services बिाम/ The Commissioner Of Ltd., Income Tax-Large Tax 9Th Floor, Nirmal Building, Payer‟S Unit, V. Nariman Point, 29Th Floor, Centre One Mumbai- 400021 World Trade Centre, Cuffe Parade, Mumbai-400 005 स्थायी ऱेखा सं./ Pan: Aaacr4849R (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri. R. R. Vora & Shri. Nikhil Tiwari Revenue By: Shri. R. Manjunatha Swamy (Cit-Dr) सुनवाई की तारीख /Date Of Hearing : 29.01.2019 घोषणा की तारीख /Date Of Pronouncement : 18.04.2019

For Appellant: Shri. R. R. Vora &For Respondent: Shri. R. Manjunatha Swamy
Section 143(3)Section 234BSection 263Section 263(1)

…n exercise of its revisionary powers u/s 263 cannot I.T.A. No.2794/Mum/2018 substitute its view in place of the view adopted by the AO. The reliance was also placed on the decision of Hon‟ble Supreme Court in the case of CIT v. Greenworld Corporation (2009) 314 ITR 81(SC). It was submitted that the consistent policy is followed by assessee to bring to tax losses/gains on foreign exchange forward contract on realisation basis instead of bringing to tax unrealised gains/losses on mark to market basis on the Balance Sheet date. It is also submitted that there is no loss to Revenue as the due taxes have been duly p…

Pravardhan Seeds Priavate Limited, Hyderabad vs. ACIT, Circle-16(2), Hyderabad

In the result, appeal of the assessee is allowed

ITA 667/HYD/2017[2012-13]Status: DisposedITAT Hyderabad30 Jan 2019AY 2012-13

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Years: 2012-13 Pravardhan Seeds Pvt. Vs. Asst. Commissioner Of Ltd., Hyderabad. Income-Tax, Circle – 16(2), Hyderabad. Pan – Aaaafcp0118A

For Appellant: Shri C.S. SubramanyamFor Respondent: Shri YVST Sai
Section 10(1)Section 115JSection 143(3)Section 263

…IT and established that it is prejudicial to the interests of revenue. Ld. CIT has failed in this aspect. This is in line with the decision of Hon’ble Supreme Court in the case of Malabar Industrial co. Ltd., 243 ITR 83(SC) and CIT Vs. Green World Corporation 314 ITR 81 (SC). Therefore, in our view, no doubt, the assessment order is erroneous but not prejudicial to the revenue considering the case law submitted before us. As per the Hon’ble AP High court, seeds cannot be produced without basic agricultural activities. The assessee has sold the seeds and must have carried out the agricultural activities in order t…

Jitinder Singh Chadha, New Delhi vs. Prcit-18, New Delhi

In the result, the appeal of the assessee is allowed

ITA 2732/DEL/2018[2013-14]Status: DisposedITAT Delhi31 Dec 2018AY 2013-14

Bench: Sh. N. K. Saini, Hon’Ble & Smt. Beena A. Pillaiita No. 2732/Del/2018 : Asstt. Year : 2013-14 Mr. Jitindar Singh Chadha, Vs Pr. Cit-18, C-266, Defence Colony, New Delhi-110002 New Delhi-110024 (Appellant) (Respondent) Pan No. Aabpc6181D Assessee By : Sh. R. S. Ahuja, Ca Revenue By : Sh. Kumar Hrishikesh, Cit Dr Date Of Hearing : 04.12.2018 Date Of Pronouncement : 31.12.2018 Order Per N. K. Saini: This Is An Appeal By The Assessee Against The Order Dated 31.03.2018 Of Ld. Pr. Cit-18, New Delhi.

For Appellant: Sh. R. S. Ahuja, CAFor Respondent: Sh. Kumar Hrishikesh, CIT DR
Section 143(3)Section 263Section 55A

…f the revenue or it was erroneous. On the contrary, the AO applied his mind and did not accept the revised claim of the assessee and had taken a possible view. 13. On a similar issue, the Hon’ble Supreme Court in the case CIT Vs Greenworld Corporation (2009) 314 ITR 81 held as under: “The Income-tax Officer, while passing an order of assessment performs a judicial function. A revision application lies before the Commissioner. It is trite that the jurisdiction exercised by the revisional authority pertains to his appellate jurisdiction. The jurisdiction under section 263 can be exercised only when both the follow…

Natthi Singh HUF, Jaipur vs. ACIT, Bharatpur

In the result, appeals are allowed for statistical purposes

ITA 563/JPR/2016[2006-07]Status: DisposedITAT Jaipur31 Oct 2018AY 2006-07
For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri J.C. Kulhari (JCIT)
Section 143(3)Section 147Section 69

…essment made on the basis of borrowed satisfaction or at the dictum of the higher authorities is illegal and bad in law. In support of his contention, he has relied upon the decision of the Hon’ble Supreme Court in the case of CIT vs. Greenworld Corporation, 314 ITR 81 (SC) and submitted that the Hon’ble Supreme Shri Subhash Singh, Bharatpur and Others. Court has held that by no stretch of imagination a higher authority can interfere with the independence of the assessing authority which is the basic feature of any statutory scheme involving adjudicatory process. The ld. A/R has also relied upon the Hon’ble Jur…

Bharatpur Cold Storage Pvt. Ltd., Jaipur vs. ACIT, Bharatpur

In the result, appeals are allowed for statistical purposes

ITA 562/JPR/2016[2006-07]Status: DisposedITAT Jaipur31 Oct 2018AY 2006-07
For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri J.C. Kulhari (JCIT)
Section 143(3)Section 147Section 69

…essment made on the basis of borrowed satisfaction or at the dictum of the higher authorities is illegal and bad in law. In support of his contention, he has relied upon the decision of the Hon’ble Supreme Court in the case of CIT vs. Greenworld Corporation, 314 ITR 81 (SC) and submitted that the Hon’ble Supreme Shri Subhash Singh, Bharatpur and Others. Court has held that by no stretch of imagination a higher authority can interfere with the independence of the assessing authority which is the basic feature of any statutory scheme involving adjudicatory process. The ld. A/R has also relied upon the Hon’ble Jur…