CIT v. Kelvinator of India Ltd.

320 ITR 561Supreme Court of India2010#18 most cited

What is CIT v. Kelvinator of India Ltd. authority for?

An Assessing Officer cannot initiate reassessment proceedings under Section 147 of the Income Tax Act based on a mere change of opinion. Reassessment is permissible only when there is fresh tangible material leading to the belief of income escapement, not merely a review of existing facts.

1,673

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2010 to 2026.

Also referred to as

CIT v. Kelvinator of India Ltd. · Kelvinator of India · Section 147 · Section 148 · reassessment proceedings · mere change of opinion · fresh tangible material · escapement of income · reason to believe · validity of reassessment

Also reported as

187 Taxmann 3122 SCC 723187 Taxmann.com 312

Sections most often in play

Section 147Section 143(3)Section 148Section 142(1)Section 151Section 143(2)Section 68Section 139
Read the full judgment

Issues it is cited on

kelvinatorfresh tangible materialmere change of opinionfirst proviso to section 147material facts necessary for assessmentfull and true disclosurechange of opinionbeyond four yearslive linktangible materialescapement of incomereason to believe

Judgments citing CIT v. Kelvinator of India Ltd.

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

…आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी मनु कुमार िग"र, "याियक सद"य एवं "ी एस. आर. रघुनाथा, लेखा सद"य के सम" BEFORE SHRI MANU KUMAR GIRI, HON’BLE JUDICIAL MEMBER AND SHRI S. R. RAGHUNATHA, HON’BLE ACCOUNTANT MEMBER आयकर 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"/R…

Faiveley Transport Technologies India Pvt. Ltd., Hosur vs. ACIT, Corporate Circle-1(1), Chennai

In the result, appeal filed by the assessee is allowed

ITA 1598/CHNY/2024[2018-19]Status: DisposedITAT Chennai18 Oct 2024AY 2018-19

Bench: SHRI MANU KUMAR GIRI (Judicial Member), SHRI S.R. RAGHUNATHA (Accountant Member)

For Appellant: Shri. Ashik Shah, C.AFor Respondent: Shri Nilay Baran Som, IRS, CIT
Section 143(3)Section 263Section 80

…de manner. This view is confirmed by the full bench decision of the Delhi high court in CIT Vs. Kelvinator of India ITA No.1598 /Chny/2024 Ltd (256 ITR 1) (Delhi FB), was upheld by the Supreme court in Commissioner of Income Tax Vs. Kelvinator Of India Ltd ( 320 ITR 561)(SC). 10. The Hon’ble High Court of Bombay in the case of Marico Ltd., vs. ACIT in writ petition No.1917 of 2019 dated 21.08.2019, wherein the Hon’ble High Court has clearly pointed out once a query has been raised by the AO during the assessment proceedings and the assessee has responded to that query, it would necessarily follow that the AO ha…

Shikhar Exports, New Delhi vs. Aito Ward - 54(1), New Delhi

ITA 8518/DEL/2019[2011-12]Status: DisposedITAT Delhi18 Oct 2024AY 2011-12

Bench: Shri M. Balaganesh & Shri Sudhir Kumarshikhar Exports Vs. Aito, Ward – 54(1) C/O. Pranshu Goel, C.A. New Delhi 5A/3A, Ansari Road Darya Ganj, New Delhi-110 002 Pan: Aadfs 6406 M (Appellant) (Respondent) Assessee By : Shri Pranshu Goel, C.A. & Shri Aditya Gupta, Adv. Revenue By: Shri V. K. Dubey, Sr. D.R. Date Of Hearing 15/10/2024 Date Of Pronouncement 18/10/2024

For Appellant: Shri Pranshu Goel, C.A. and Shri Aditya Gupta, AdvFor Respondent: Shri V. K. Dubey, Sr. D.R
Section 10BSection 143(3)Section 147Section 148Section 150(1)Section 150(2)

…ear of such claim, this is a clear case of change of opinion by the learned A.O. in the reassessment proceeding. Reliance in this regard is made on the celebrated decision of Hon’ble Supreme Court in the case of CIT vs. Kelvinator of India Limited reported in 320 ITR 561 (SC) wherein it has been held that reopening of an assessment cannot be made merely on change of opinion. 6. In view of the aforesaid observations and respectfully following the judicial precedent relied upon herein above, we have no hesitation to quash the reassessment proceedings under section 147 of the Act in the facts and circumstances of t…

Assisstant Commissioner of Income Tax - 4(1), Indore vs. Prataap Snacks Limited, Indore

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

ITA 374/IND/2023[2018-19]Status: DisposedITAT Indore17 Oct 2024AY 2018-19

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 143(3)Section 147Section 148Section 80I

…t reassessment to disallow the claim is nothing but the change of opinion which is not permissible under the law. In support of his contention he has relied upon the decision of Hon'ble Supreme Court in the case of CIT vs. Kelvinator of India Ltd. reported in 320 ITR 561. He has also relied upon the following decisions:- (i) M.J. Pharmaceuticals Ltd vs. CIT (2008) 297 ITR 119 (Bom) (Assessment Year 2003- 2004) (ii) D. T. & T. D. C. Ltd. vs. CIT (2010) 324 ITR 234 (Del.) (iii) ICICI Prudential Life Insurance Co.Ltd. (2010) 325 ITR 471 (Bom) 8. The Ld. AR of the assessee on principle of consistency submitted that…

Assisstant Commissioner of Income Tax - 4(1), Indore vs. Prataap Snacks Limited, Indore

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

ITA 373/IND/2023[2020-21]Status: DisposedITAT Indore17 Oct 2024AY 2020-21

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 143(3)Section 147Section 148Section 80I

…t reassessment to disallow the claim is nothing but the change of opinion which is not permissible under the law. In support of his contention he has relied upon the decision of Hon'ble Supreme Court in the case of CIT vs. Kelvinator of India Ltd. reported in 320 ITR 561. He has also relied upon the following decisions:- (i) M.J. Pharmaceuticals Ltd vs. CIT (2008) 297 ITR 119 (Bom) (Assessment Year 2003- 2004) (ii) D. T. & T. D. C. Ltd. vs. CIT (2010) 324 ITR 234 (Del.) (iii) ICICI Prudential Life Insurance Co.Ltd. (2010) 325 ITR 471 (Bom) 8. The Ld. AR of the assessee on principle of consistency submitted that…

Assisstant Commissioner of Income Tax - 4(1), Indore vs. Prataap Snacks Limited, Indore

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

ITA 372/IND/2023[2017-18]Status: DisposedITAT Indore17 Oct 2024AY 2017-18

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 143(3)Section 147Section 148Section 80I

…t reassessment to disallow the claim is nothing but the change of opinion which is not permissible under the law. In support of his contention he has relied upon the decision of Hon'ble Supreme Court in the case of CIT vs. Kelvinator of India Ltd. reported in 320 ITR 561. He has also relied upon the following decisions:- (i) M.J. Pharmaceuticals Ltd vs. CIT (2008) 297 ITR 119 (Bom) (Assessment Year 2003- 2004) (ii) D. T. & T. D. C. Ltd. vs. CIT (2010) 324 ITR 234 (Del.) (iii) ICICI Prudential Life Insurance Co.Ltd. (2010) 325 ITR 471 (Bom) 8. The Ld. AR of the assessee on principle of consistency submitted that…

Assistant Commissioner of Income Tax - 4(1), Indore vs. Prataap Snacks Limited, Indore

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

ITA 371/IND/2023[2013-14]Status: DisposedITAT Indore17 Oct 2024AY 2013-14

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 143(3)Section 147Section 148Section 80I

…t reassessment to disallow the claim is nothing but the change of opinion which is not permissible under the law. In support of his contention he has relied upon the decision of Hon'ble Supreme Court in the case of CIT vs. Kelvinator of India Ltd. reported in 320 ITR 561. He has also relied upon the following decisions:- (i) M.J. Pharmaceuticals Ltd vs. CIT (2008) 297 ITR 119 (Bom) (Assessment Year 2003- 2004) (ii) D. T. & T. D. C. Ltd. vs. CIT (2010) 324 ITR 234 (Del.) (iii) ICICI Prudential Life Insurance Co.Ltd. (2010) 325 ITR 471 (Bom) 8. The Ld. AR of the assessee on principle of consistency submitted that…

Assistant Commissioner of Income Tax - 4(1), Indore vs. Prataap Snacks Limited, Indore

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

ITA 370/IND/2023[2012-13]Status: DisposedITAT Indore17 Oct 2024AY 2012-13

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 143(3)Section 147Section 148Section 80I

…t reassessment to disallow the claim is nothing but the change of opinion which is not permissible under the law. In support of his contention he has relied upon the decision of Hon'ble Supreme Court in the case of CIT vs. Kelvinator of India Ltd. reported in 320 ITR 561. He has also relied upon the following decisions:- (i) M.J. Pharmaceuticals Ltd vs. CIT (2008) 297 ITR 119 (Bom) (Assessment Year 2003- 2004) (ii) D. T. & T. D. C. Ltd. vs. CIT (2010) 324 ITR 234 (Del.) (iii) ICICI Prudential Life Insurance Co.Ltd. (2010) 325 ITR 471 (Bom) 8. The Ld. AR of the assessee on principle of consistency submitted that…

M/S Madras Race Club, Chennai vs. DCIT, Cenral Circle-1(2), Chennai

In the result the appeal of the assessee stands allowed

ITA 688/CHNY/2024[2007-08]Status: DisposedITAT Chennai16 Oct 2024AY 2007-08

Bench: Hon’Bleshri Manu Kumar Giriand Hon’Ble Shri S.R. Raghunathaआयकर अपील सं./Ita No.688/Chny/2024 िनधा"रण वष"/Assessment Year:2007-2008 M/S.Madras Race Club, The Deputy Commissioner Of Race Course Road, Vs. Income Tax, Guindy Industrial Estate S.O., Central Circle 1(2) Guindy, Chennai Chennai 600 032. Pan: Aaacm 7640R (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. R. Vijayaraghavan, Advocate ""यथ"क"ओरसे/Respondent By : Shri. V. Nandakumar, Irs, Cit.

For Appellant: Shri. R. Vijayaraghavan, AdvocateFor Respondent: Shri. V. Nandakumar, IRS, CIT
Section 143(1)Section 143(3)Section 147Section 148

…"11. The phrase "reason to believe in section 147 relates to such other new or tangible material as may have come to the knowledge of the assessing officer pursuant to the original proceedings for assessment. The Supreme Court in CIT Vs. Kelvinator of India (320 ITR 561) states thus in the context of the 'belief' that should form the basis for a re-assessment; 'We must also keep in mind the conceptual difference between power to review and power to reassess. The Assessing Officer has no power to review, he has the power to reassess. But reassessment has to be based on fulfilment of certain pre- conditions and if…

Kokan Mercantile Co-Op Bank Ltd., Mumbai vs. ACIT, Circle 20(2), Mumbai

In the result, the appeal of the assessee is dismissed

ITA 1731/MUM/2024[2013-14]Status: DisposedITAT Mumbai16 Oct 2024AY 2013-14

Bench: Shri Pavan Kumar Gadale & Smt Renu Jauhri

For Appellant: Shri Tanzil PadvekarFor Respondent: Shri P. D. Chougule
Section 143(3)Section 147Section 148Section 250Section 36(1)(viia)Section 36(1)(viii)

…nto possession of the Ld. Assessing Officer which is the basic legal requirement for the formation of the bonafide belief as contemplated in Section 147 of the Income Tax Act as held by the Hon'ble Supreme Court in the case of CIT v/s. Kelvinator India Ltd. - 320 ITR 561. 4. On the facts and in law, the Ld. Assessing Officer has initiated the re- assessment proceedings which amounts to review to reopen completed assessment on re-examination of existing assessment record of the Appellant when after in-depth enquiry on all important legal & factual aspects original assessment was completed under Section 143(3) of t…

Kokan Mercantile Co-Op Bank Ltd., Mumbai vs. ACIT, Circle 20(2), Mumbai

In the result, the appeal of the assessee is dismissed

ITA 1730/MUM/2024[2012-13]Status: DisposedITAT Mumbai16 Oct 2024AY 2012-13

Bench: Shri Pavan Kumar Gadale & Smt Renu Jauhri

For Appellant: Shri Tanzil PadvekarFor Respondent: Shri P. D. Chougule
Section 143(3)Section 147Section 148Section 250Section 36(1)(viia)Section 36(1)(viii)

…nto possession of the Ld. Assessing Officer which is the basic legal requirement for the formation of the bonafide belief as contemplated in Section 147 of the Income Tax Act as held by the Hon'ble Supreme Court in the case of CIT v/s. Kelvinator India Ltd. - 320 ITR 561. 4. On the facts and in law, the Ld. Assessing Officer has initiated the re- assessment proceedings which amounts to review to reopen completed assessment on re-examination of existing assessment record of the Appellant when after in-depth enquiry on all important legal & factual aspects original assessment was completed under Section 143(3) of t…

Shahnaz Husain, Delhi vs. JCIT Special Range -10, New Delhi, Delhi

In the result, the appeal filed by the assessee for AY 2012-13 is partly allowed

ITA 1966/DEL/2024[2013-14]Status: DisposedITAT Delhi16 Oct 2024AY 2013-14

Bench: S.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ashok Malik, AdvFor Respondent: Shri Munish Rajani, Sr. DR
Section 133(6)Section 143(3)Section 147Section 148Section 23

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’: NEW DELHI BEFORE S.RIFAUR RAHMAN, ACCOUNTANT MEMBER and SHRI VIMAL KUMAR, JUDICIAL MEMBER ITA No. 1966/DEL/2024 (Assessment Year: 2013-14) Shahnaz Husain, vs. JCIT Special Range-10, W-61, Greater Kailash-I, New Delhi New Delhi - 110048 (PAN : AABPH4011P) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri Ashok Malik, Adv. REVENUE BY : Shri Munish Rajani, Sr. DR. Date of Hearing : 14.08.2024 Date of Order : 16.10.2024 O R D E R PER S.RIFAUR RAHMAN, AM: 1. These appeals are filed by the assessee against the separate orders of ld. Commissioner of Income-tax Appeals/NFAC…

Shahnaz Husain, Delhi vs. JCIT Special Range -10, New Delhi, Delhi

In the result, the appeal filed by the assessee for AY 2012-13 is partly allowed

ITA 1965/DEL/2024[2012-13]Status: DisposedITAT Delhi16 Oct 2024AY 2012-13

Bench: S.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ashok Malik, AdvFor Respondent: Shri Munish Rajani, Sr. DR
Section 133(6)Section 143(3)Section 147Section 148Section 23

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’: NEW DELHI BEFORE S.RIFAUR RAHMAN, ACCOUNTANT MEMBER and SHRI VIMAL KUMAR, JUDICIAL MEMBER ITA No. 1966/DEL/2024 (Assessment Year: 2013-14) Shahnaz Husain, vs. JCIT Special Range-10, W-61, Greater Kailash-I, New Delhi New Delhi - 110048 (PAN : AABPH4011P) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri Ashok Malik, Adv. REVENUE BY : Shri Munish Rajani, Sr. DR. Date of Hearing : 14.08.2024 Date of Order : 16.10.2024 O R D E R PER S.RIFAUR RAHMAN, AM: 1. These appeals are filed by the assessee against the separate orders of ld. Commissioner of Income-tax Appeals/NFAC…

St.Joseph'S Educational Trust, Chennai vs. PCIT Central Chennai - 1, Chennai

In the result, all the three appeals filed by the assessee are allowed

ITA 1620/CHNY/2024[2020-21]Status: DisposedITAT Chennai15 Oct 2024AY 2020-21

Bench: Hon’Ble Shri Manu Kumar Giri & Hon’Ble Shri Jagadishआयकरअपील सं./ Ita Nos.1618 & 1619 /Chny/2024 (िनधा"रणवष" / Assessment Years: 2018-19 & 2020-2021) St. Joseph’S Institute Of Science & Vs. The Principal Commissioner Of Income Technology Trust, Tax, No.56C, Old Mahabalipuram Road, Central, Chennai -1 Sholinganallur, Chennai 600 119. [Pan: Aahts 9943B] आयकरअपील सं./ Ita No.1620 /Chny/2024 (िनधा"रणवष" / Assessment Year: 2020-2021) St. Joseph’S Educational Trust, Vs The Principal Commissioner Of Income No.56C, Old Mahabalipuram Road, Tax, Sholinganallur, Chennai 600 119. Central, Chennai -1 [Pan: Aamts 3888G] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri K.R. Vasudevan, Advocate ""यथ" क" ओर से /Respondent By : Shri Nilay Baran Som, Irs, Cit.

For Appellant: Shri K.R. Vasudevan, AdvocateFor Respondent: Shri Nilay Baran Som, IRS, CIT
Section 11Section 115BSection 12ASection 142(1)Section 153ASection 153DSection 263

…s in a proper and bonafide manner. This view is confirmed by the full bench decision of the Delhi high court in CIT Vs. Kelvinator of India Ltd (256 ITR 1) (Delhi FB), was upheld by the Supreme court in Commissioner of Income Tax Vs. Kelvinator Of India Ltd ( 320 ITR 561)(SC). 12. The Hon’ble High Court of Bombay in the case of Marico Ltd., vs. ACIT in writ petition No.1917 of 2019 dated 21.08.2019, wherein the Hon’ble High Court has clearly pointed out once a query has been raised by the AO during the assessment proceedings and the assessee has responded to that query, it would necessarily follow that the AO ha…

St.Joseph'S Institute of Science and Technology Trust, Chennai vs. PCIT Central Chennai - 1, Chennai

In the result, all the three appeals filed by the assessee are allowed

ITA 1619/CHNY/2024[2020-21]Status: DisposedITAT Chennai15 Oct 2024AY 2020-21

Bench: Hon’Ble Shri Manu Kumar Giri & Hon’Ble Shri Jagadishआयकरअपील सं./ Ita Nos.1618 & 1619 /Chny/2024 (िनधा"रणवष" / Assessment Years: 2018-19 & 2020-2021) St. Joseph’S Institute Of Science & Vs. The Principal Commissioner Of Income Technology Trust, Tax, No.56C, Old Mahabalipuram Road, Central, Chennai -1 Sholinganallur, Chennai 600 119. [Pan: Aahts 9943B] आयकरअपील सं./ Ita No.1620 /Chny/2024 (िनधा"रणवष" / Assessment Year: 2020-2021) St. Joseph’S Educational Trust, Vs The Principal Commissioner Of Income No.56C, Old Mahabalipuram Road, Tax, Sholinganallur, Chennai 600 119. Central, Chennai -1 [Pan: Aamts 3888G] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri K.R. Vasudevan, Advocate ""यथ" क" ओर से /Respondent By : Shri Nilay Baran Som, Irs, Cit.

For Appellant: Shri K.R. Vasudevan, AdvocateFor Respondent: Shri Nilay Baran Som, IRS, CIT
Section 11Section 115BSection 12ASection 142(1)Section 153ASection 153DSection 263

…s in a proper and bonafide manner. This view is confirmed by the full bench decision of the Delhi high court in CIT Vs. Kelvinator of India Ltd (256 ITR 1) (Delhi FB), was upheld by the Supreme court in Commissioner of Income Tax Vs. Kelvinator Of India Ltd ( 320 ITR 561)(SC). 12. The Hon’ble High Court of Bombay in the case of Marico Ltd., vs. ACIT in writ petition No.1917 of 2019 dated 21.08.2019, wherein the Hon’ble High Court has clearly pointed out once a query has been raised by the AO during the assessment proceedings and the assessee has responded to that query, it would necessarily follow that the AO ha…

St.Joseph'S Institute of Science and Technology Trust, Chennai vs. PCIT Central Chennai - 1, Chennai

In the result, all the three appeals filed by the assessee are allowed

ITA 1618/CHNY/2024[2018-19]Status: DisposedITAT Chennai15 Oct 2024AY 2018-19
Section 11Section 115BSection 12ASection 142(1)Section 153ASection 153DSection 263

…es in a proper and bonafide manner. This view is confirmed by the full bench decision of the Delhi high court in CIT Vs. Kelvinator of India Ltd (256 ITR 1) (Delhi FB), was upheld by the Supreme court in Commissioner of Income Tax Vs. Kelvinator Of India Ltd (320 ITR 561)(SC). 12. The Hon'ble High Court of Bombay in the case of Marico Ltd., vs. ACIT in writ petition No.1917 of 2019 dated 21.08.2019, wherein the Hon'ble High Court has clearly pointed out once a query has been raised by the AO during the assessment proceedings and the assessee has responded to that query, it would necessarily follow that the AO has…

Team Global Logistics Pvt. Ltd., Mumbai vs. DCIT-11(3)(1), Mumbai

In the result the appeal is allowed

ITA 4453/MUM/2023[2012-13]Status: DisposedITAT Mumbai15 Oct 2024AY 2012-13

Bench: SHRI BR BASKARAN (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

Section 143(2)Section 143(3)Section 147Section 148Section 151(1)Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘E’ BENCH MUMBAI BEFORE: SHRI BR BASKARAN, ACCOUNTANT MEMBER & SHRI SUNIL KUMAR SINGH, JUDICIAL MEMBER Team Global Vs. DCIT-11(3)(1) Logistics Pvt. Ltd. Aayakar Bhavan, 701-702, Times M.K.Road, Square Building, Mumbai-400020. Andheri Kurla Road, Sakinaka, Andheri-400005. PAN/GIR No. AACCT2540H (Appellant) .. (Respondent) Assessee by Shri. Dharmesh Shah a/w Ms. Mitali Parekh Revenue by Shri. P.D. Chougule (Addl. CIT) SR. DR Date of Hearing 16/07/2024 Date of Pronouncement 15/10/2024 आदेश / O R D E R PER SUNIL KUMAR SINGH (J.M): 1. This appeal has been preferred against…

Godavari Multipurpose Articles Pvt. Ltd., Kolkata vs. D.C.I.T., Circle - 7(1), Kolkata

In the result, appeal of the assessee isallowed

ITA 1262/KOL/2024[2012-2013]Status: DisposedITAT Kolkata10 Oct 2024AY 2012-2013

Bench: Shri Manish Borad, Accountant Member Shri Sonjoy Sarma (Judicial Member)

Section 143(3)Section 147Section 148Section 250Section 68

…the Investigation Wing. In the present case, no independent enquiry was conducted and the reasons failed to establish a live link between alleged transaction and escapement of income.The Hon‟ble Supreme Court in the case of CIT Vs. Kelvinator India Ltd. (2010)320 ITR 561 (SC) as held that reassessment cannot be based on 6 I.T.A. No.1262/Kol/2024 Godavari Multipurpose Articles Pvt. Ltd. mere change of opinion or information received without verification. Similarly, on the issue of loan from M/s Elpro Traders Ltd. the assessee has sufficientlyexplained the transaction of supported by banking documents and ledger.…

Tmilnad Mercantile Bank Limited, Tuticorin vs. ACIT, Circle-1, Tirunelveli

In the result, appeal filed by the assessee stands allowed

ITA 788/CHNY/2024[2010-11]Status: DisposedITAT Chennai09 Oct 2024AY 2010-11

Bench: Shri Aby T. Varkey & Shri S.R.Raghunathaआयकर अपील सं./Ita No.788/Chny/2024 िनधा"रण वष"/Assessment Year: 2010-11 V. M/S. Tamilnad Mercantile Bank Ltd., The Acit, 57 V E Road, Circle-1, Tuticorin Central Bus Stand, Tirunelveli. S.O. Thoothukudi, Tuticorin-628 002. [Pan: Aaact 5558 K] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri N. Arjun Raj, AdvocateFor Respondent: Shri A. Sasikumar, CIT
Section 143(1)Section 143(3)Section 147Section 148Section 36(1)Section 36(1)(viia)

…f the assessee to disclose fully and truly all material facts necessary for the assessment. According to the Ld.AR, the legal issue raised by assessee is settled by the Hon’ble Supreme Court in the case of CIT v. Kelvinator of India Ltd., reported in [2010] 320 ITR 561 (SC), wherein, their Lordships have held that after four years from the end of relevant assessment year, the AO shouldn’t resort to re-opening of the assessment already framed u/s.143(3) of the Act without having tangible material in his possession to justify re-opening of assessment. Further, according to the Ld.AR, in the case of PCIT vs Mos…

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

…आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी महावीर "सह, उपा"य" एवं "ी एस. आर. रघुनाथा, लेखा सद"य के सम" BEFORE SHRI MAHAVIR SINGH, HON’BLE VICE PRESIDENT AND SHRI S. R. RAGHUNATHA, HON’BLE ACCOUNTANT MEMBER आयकर 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…