CIT v. Kelvinator of India Ltd.

Chhattisgarh State Beverage Corporation Ltd., Raipur vs. Deputy Commissioner of Income Tax, Circle-3(1), Raipur

In the result, appeal of the assessee is allowed for statistical purposes in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 198/Rpr/2022 "नधा"रण वष" / Assessment Year : 2013-14 Chhattisgarh State Beverages Corporation Limited Aabkari Bhavan, Chokra Nala, Labhandi, Raipur-492 001 (C.G.) Pan : Aaccc3163B .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle-3(1), Raipur. ……""यथ" / Respondent

…f his jurisdiction for reopening such concluded assessment on the basis of a mere “change of opinion”. Ld. AR in support of his aforesaid contention had relied on the judgment of the Hon’ble Supreme Court in the case of CIT Vs. Kelvinator of India Ltd. (2010) 320 ITR 561 (SC) a/w host of other judicial pronouncements. 10. Per contra, the Ld. Departmental Representative (for short ‘DR’) relied on the orders of the lower authorities. 11. We have heard the Ld. Authorized Representatives of both the parties, perused the orders of the lower authorities and the material available on record, as well as considered the…

Shri Murlimanohar Ramkishan Mundhra, Surat vs. Income Tax Officer, Ward - 1(2)(1), Surat

In the result, ground No. 1 of the appeal is allowed

Bench: Shri Pawan Singhआ.अ.सं./Ita No.158/Srt/2023 (Ay 2013-14) (Hearing In Physical Court) Murlimanohar Ramkishan Income Tax Officer, Ward-1(2)(1), (Old Ward- Mundhra, 301 To 308, Vs 1(2)(3) Surat, Aayakar Third Floor, Shree Krishna Market, Near Metro Tower, Bhavan, Majura Gate, Ring Road, Surat-395002 Surat-395001 Pan No: Aflpm 6057 P अपीलाथ"/Appellant ""यथ" /Respondent "नधा"रती क" ओर से /Assessee By Shri Sudhir Surana, Ca & Shri Om Prakash Soni, Ca राज"व क" ओर से /Revenue By Shri Vinod Kumar, Sr-Dr अपील पंजीकरण/Appeal Instituted On 03.03.2023 सुनवाई की तारीख/Date Of Hearing 03.05.2023 उ"घोषणा क" तार"ख/Date Of 18.07.2023 Pronouncement Order Under Section 254(1) Of Income Tax Act Per Pawan Singh: 1. This Appeal By Assessee Is Directed Against The Order Of National Faceless Appeal Centre, Delhi [For Short To As “Ld. Nfac/Ld.Cit(A)”] Dated 13.01.2023 For Assessment Year 2013-14, Which In Turn Arises From The Addition Made By The Assessing Officer In Assessment Order Passed Under Section 143(3) R.W.S 147 Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Dated 30.11.2018. The Assessee Has Raised The Following Ground Of Appeal:- Murllimanohar R Mundhra “1. Ld. Cit(A) Erred In Law & On Facts Confirming The Reassessment Proceeding Initiated By The Ld. Ao, Without Properly Appreciating The Submission Of The Appellant.

…but to re-assess the assessment was based on fulfilled of certain conditions, if the concept of change of opinion is removed then in the grab of re-opening assessment, review would take place as has been held in CIT, Delhi vs. Kelvinator of India Ltd. (2010) 320 ITR 561 (SC). On the merit of addition, the Ld. AR for the assessee retreated that assessee has claimed interest expense of Rs.6,49,951/- under section 57(iii) as assessee borrowed money of his personal capacity and infused the said fund in his proprietorship Firm Rama International and claimed deduction under section 57(iii) for interest expenses. The L…

Suresh Kumar Divakar, Sambalpur vs. ACIT, Circle 1(1), Sambalpur

In the result, appeal of the assessee is allowed

…oposed. It was the submission that this is not permissible and the reopening is liable to be quashed as also the consequential assessment. 7. Ld. AR placed reliance on the decision of the Hon’ble Supreme Court in the case of Kelvinator India Ltd., reported in 320 ITR 561(SC) to support his contention that the AO has the power to reopen provided there is ‘tangible material’ to come to conclusion that there is escapement of income from assessment and the reasons must have a live link with formation of belief. He also placed reliance on the decision of Hon’ble Jurisdictional High Court in the case of Ram Kumar Agraw…