CIT v. Nagesh Knitwears (P.) Ltd.

345 ITR 135High Court2012#914 most cited

What is CIT v. Nagesh Knitwears (P.) Ltd. authority for?

The High Court explains the scope and conditions for exercising revisional power under Section 263, emphasizing that an assessment order can be revised only if it is both erroneous and prejudicial to the interest of the revenue.

116

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2013 to 2026.

Also referred to as

CIT v. Nagesh Knitwears · Nagesh Knitwears · Section 263 · revisional power · erroneous and prejudicial to revenue · inadequate enquiry · Malabar Industrial · scope of revision · PCIT/CIT powers · assessment order revision

Also reported as

254 CTR 11322 Taxmann.com 309210 Taxmann 145

Sections most often in play

Section 263Section 143(3)Section 142(1)Section 147Section 144BSection 144Section 10(20)Section 115BBE
Read the full judgment

Issues it is cited on

inadequate enquiryprejudicial to interest of revenuesection 10(2)section 43asection 36(1)(viii)malabar industriallack of enquiryinfrastructure facilityassessment order erroneouserroneous and prejudicialsection 263(1)section 80ia(4)

Judgments citing CIT v. Nagesh Knitwears (P.) Ltd.

M/S. Coretech Ventures (Bangalore) Private Limited, Bangalore vs. The Principal Commissioner of Income Tax, Bengaluru-2, Bangalore

In the result, the appeal filed by the assessee stands dismissed

ITA 746/BANG/2021[2016-17]Status: DisposedITAT Bangalore29 Jul 2022AY 2016-17

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2016-17 M/S. Coretech Ventures (Bangalore) Pvt. Ltd., The Principal Divyasree Chambers’ Commissioner Of Wing-A, O Shaugnessy Income Tax, Road, Bengaluru – 2, Langford Town, Vs. Bengaluru. Bangalore – 560 025. Pan: Aafcc2775E Appellant Respondent : Shri V. Chandrashekar, Assessee By Advocate : Shri V.S. Chakrapani, Cit- Revenue By Dr Date Of Hearing : 01-06-2022 Date Of Pronouncement : 29-07-2022 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Order Dated 30/03/2021 Passed By Ld.Pcit, Bangalore -2 U/S. 263 Of The Act For A.Y. 2016-17 On Following Grounds Of Appeal: “1. The Order Of Revision Passed By The Learned Principal Commissioner Of Income Tax, Bengaluru -2, Bengaluru, Under Section 263 Of The Act Dated 30/03/2021, In So Far As It Is Against The Appellant Is Opposed To Law, Weight Of Evidence, Probabilities, Facts & Circumstances Of The Appellant'S Case.

For Respondent: Shri V. Chandrashekar
Section 143Section 263Section 80Section 801A

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Year : 2016-17 M/s. Coretech Ventures (Bangalore) Pvt. Ltd., The Principal Divyasree Chambers’ Commissioner of Wing-A, O Shaugnessy Income Tax, Road, Bengaluru – 2, Langford Town, Vs. Bengaluru. Bangalore – 560 025. PAN: AAFCC2775E APPELLANT RESPONDENT : Shri V. Chandrashekar, Assessee by Advocate : Shri V.S. Chakrapani, CIT- Revenue by DR Date of Hearing : 01-06-2022 Date of Pronouncement : 29-07-2022 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal is…

DCIT, Circle-1(1)(1), Surat vs. Diva Diamonds Pvt. Ltd, Surat

In the result, appeal filed by the assessee in ITA No

ITA 128/SRT/2020[2014-15]Status: DisposedITAT Surat14 Jul 2022AY 2014-15

Bench: Shripawan Singh, Jm &Dr. A.L.Saini, Am आयकर अपीलसं./Ita No.128/Srt/2020 ("नधा"रणवष" / Assessment Years: (2014-15) (Virtual Court Hearing) Deputy Commissioner Of Diva Diamonds Pvt.Ltd., Income-Tax, Circle-1(1)(1), 302, Gokul Building, Vs. Mahidharpura, Pipla Sherry, 1St Room No.108, Floor, Surat-395007 Aayakar Bhavan, Majura Gate, Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcd 1389 H (Appellant) (Respondent) Cross Objection No.13/Srt/2020 [Arising In Ita No.128/Srt/2020] ("नधा"रणवष" / Assessment Years: (2014-15) Diva Diamonds Pvt.Ltd., Deputy Commissioner Of 302, Gokul Building, Income-Tax, Circle-1(1)(1), Vs. Mahidharpura, Pipla Sherry, 1St Room No.108, Floor, Surat-395007 Aayakar Bhavan, Majura Gate, Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcd 1389 H (Applicant) (Respondent) आयकर अपीलसं./Ita No.313/Srt/2019 ("नधा"रणवष" / Assessment Years: (2014-15) Diva Diamonds Pvt. Ltd., Principal Cit-1,Surat 1St 302, Gokul Building, Room No.123, Floor, Vs. Mahidharpura, Pipla Sherry, Aayakar Bhavan, Majura Surat-395007 Gate, Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcd 1389 H (Appellant) (Respondent)

Section 143(2)Section 263

…e gain and loss arised in the Balance Sheet. Hence, we are of the view that assessing officer failed to conduct inquiry. Reliance is also placed in the decision of the Hon'ble High Court of Delhi in the case of CIT vs. Nagesh Knitwers P. Ltd and others (2012) 345 ITR 135 (Del) wherein it has been held that when the AO has allowed claim of the assessee in a slipshod manner without conducting any inquiry, then in the case of no inquiry, the assessment order is not only erroneous but also prejudicial to the interest of revenue. The order of assessment has to be a speaking order and when the fact of others view has n…

Diva Diamonds Pvt. Ltd, Surat vs. Pr. Commissioner of Income Tax, Surat

In the result, appeal filed by the assessee in ITA No

ITA 313/SRT/2019[2014-15]Status: DisposedITAT Surat14 Jul 2022AY 2014-15

Bench: Shripawan Singh, Jm &Dr. A.L.Saini, Am आयकर अपीलसं./Ita No.128/Srt/2020 ("नधा"रणवष" / Assessment Years: (2014-15) (Virtual Court Hearing) Deputy Commissioner Of Diva Diamonds Pvt.Ltd., Income-Tax, Circle-1(1)(1), 302, Gokul Building, Vs. Mahidharpura, Pipla Sherry, 1St Room No.108, Floor, Surat-395007 Aayakar Bhavan, Majura Gate, Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcd 1389 H (Appellant) (Respondent) Cross Objection No.13/Srt/2020 [Arising In Ita No.128/Srt/2020] ("नधा"रणवष" / Assessment Years: (2014-15) Diva Diamonds Pvt.Ltd., Deputy Commissioner Of 302, Gokul Building, Income-Tax, Circle-1(1)(1), Vs. Mahidharpura, Pipla Sherry, 1St Room No.108, Floor, Surat-395007 Aayakar Bhavan, Majura Gate, Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcd 1389 H (Applicant) (Respondent) आयकर अपीलसं./Ita No.313/Srt/2019 ("नधा"रणवष" / Assessment Years: (2014-15) Diva Diamonds Pvt. Ltd., Principal Cit-1,Surat 1St 302, Gokul Building, Room No.123, Floor, Vs. Mahidharpura, Pipla Sherry, Aayakar Bhavan, Majura Surat-395007 Gate, Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcd 1389 H (Appellant) (Respondent)

Section 143(2)Section 263

…e gain and loss arised in the Balance Sheet. Hence, we are of the view that assessing officer failed to conduct inquiry. Reliance is also placed in the decision of the Hon'ble High Court of Delhi in the case of CIT vs. Nagesh Knitwers P. Ltd and others (2012) 345 ITR 135 (Del) wherein it has been held that when the AO has allowed claim of the assessee in a slipshod manner without conducting any inquiry, then in the case of no inquiry, the assessment order is not only erroneous but also prejudicial to the interest of revenue. The order of assessment has to be a speaking order and when the fact of others view has n…

Ravi Metallics Limited, Rourkela vs. Pr.CIT, Sambalpur

In the result, appeal of the assessee is allowed

ITA 34/CTK/2021[2014-15]Status: DisposedITAT Cuttack05 Jul 2022AY 2014-15

Bench: Shri George Mathan & Shri Arun Khodpiaravi Metallics Limited, I/10, Civil Township, Rourkela-769004 Pan No.Adqps 4031 G ………………Assessee Versus Pr.Cit, Sambalpur ………………..Revenue Shri P.R.Mohanty, Ar For The Assessee Shri M.K.Gautam, Cit-Dr For The Revenue Date Of Hearing : 30/05/2022 Date Of Pronouncement : 30/05/2022 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Of The Ld. Pr.Cit, Sambalpur, Passed U/S.263 Of The Act In Case No.Pcit/Sbp/263/26/2018-19, Dated 29.03.2019 For The Assessment Year 2014-2015. Heard On The Question Of Condonation Of Delay 2. On Perusal Of The Record, We Found That The Appeal Of The Assessee Is Barred By 686 Days. In This Regard, Ld. Ar Filed An Application Along With Affidavit For Condonation Of Delay, Wherein It Has Been Submitted That The Delay Occurred In Filing The Present Appeal Is Neither Intentional Nor Deliberate But Due To Unfortunate & Unavoidable Circumstances Beyond

Section 253Section 263

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK श्री जाजज माथन, न्याययक सदस्य एवं श्री अरुण खोड़पऩया ऱेखा सदस्य के समक्ष । BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI ARUN KHODPIA, ACCOUNTANT MEMBER Ravi Metallics Limited, I/10, Civil Township, Rourkela-769004 PAN No.ADQPS 4031 G ………………Assessee Versus Pr.CIT, Sambalpur ………………..Revenue Shri P.R.Mohanty, AR for the assessee Shri M.K.Gautam, CIT-DR for the Revenue Date of Hearing : 30/05/2022 Date of Pronouncement : 30/05/2022 आदेश / O R D E R Per Bench : This is an appeal filed by the assessee against the ord…

Mayur Khara, Yavatmal vs. Principal Commissioner of Income Tax-2, Nagpur

In the result, Both the appeals of above mentioned assessee’s are allowed

ITA 64/NAG/2021[2016-17]Status: DisposedITAT Nagpur28 Jun 2022AY 2016-17

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2016-17 Shri Mayur Khara Vs. The Pcit Datta Chowk Nagpur-2 Yavatmalm 445 001 (Maharastra) Pan No.:Abwpk 8869 N Appellant Respondent Assessment Year: 2016-17 Shri Amit Khara Vs. The Pcit Datta Chowk Nagpur-2 Yavatmalm 445 001 (Maharastra) Pan No.:Abwpk 8868 P Appellant Respondent Assessee By: Shri Mahavir Atal, Ca Revenue By :Shri Piyush Kolhe (Cit-Dr) Date Of Hearing: 28/04/2022 Date Of Pronouncement: 28 /06 /2022 Order Per: Sandeep Gosain, J.M. Both These Appeals Have Been Filed By The Above Mentioned Assessees Against Two Different Orders Passed U/S 263 Of The Act By The Ld. Pr.Cit, Nagpur- 2 Dated 17-02-2017 & 16-02-20217 For The Assessment Year 2016-17 Respectively. The Grounds Of Raised By The Above Mentioned Assessees Are As Under:-

For Appellant: Shri Mahavir Atal, CAFor Respondent: Shri Piyush Kolhe (CIT-DR)
Section 143(3)Section 263

…judicial to the interests of the revenue. If one of the other factor was absent, the Commissioner cannot exercise the suomoto power of revisionunder section 263." In the case of CIT v. NageshKnitwears (P.) Ltd. [2012] 22 taxmann.com 309/210 Taxman 145 (Mag.)/345 ITR 135 (Delhi) the Hon'ble Delhi High Court has elucidated and explained the scope of provision of Section 263 of the Act and the same has been extracted by the Hon'ble Delhi High Court in the case of CIT v. Goetze (India) Ltd. [2014] 44 taxmann.com 138/225 Taxman 135 (Mag.)/361 ITR 505 (Delhi) as under :— 30 Shri Mayur Khara vs Pr. CIT-2, Nagpur "Thu…

M/S Rajendra and Ursula Holdings Pvt. Ltd., Jaipur vs. PCIT-1, Jaipur

In the result ITA NO. ITA 57/JPR/2021 is also stands dismissed

ITA 57/JPR/2021[2016-17]Status: DisposedITAT Jaipur05 May 2022AY 2016-17
For Appellant: Sh. Mahendra Gargieya (Adv.)For Respondent: Sh. Manoj Mehar (CIT)
Section 263Section 5

…h conclusions, I am aided by the following judicial rulings: (i) Malabar Industrial Limited Vs. CIT (SC) 243 ITR 83 (ii) TTK LIG Ltd. Vs ACIT (Mad) 51 DTR 228 (iii) Arvee International Vs. Addl CIT (ITAT-Mum) 101 ITD 495 (iv) CIT Vs. Nagesh Knitwears P. Ltd. 345 ITR 135 (Del- HC) (v) Gee Vee Enterprise Vs. Additional CIT 99 ITR 375 (vi) CIT Vs. Raisions Industries Ltd. 288 ITR 322 (SC) (vii) Seshasayee Paper & Boards Ltd. 242 ITR 490 (Mad) In view of the above, I hold that the order passed by the AO on 20.12.2018 was passed without conducting necessary inquires and without verifying necessary details which AO o…

M/S Rajendra and Ursula Joshi Skill Developement Pvt. Ltd. Jaipur, Jaipur vs. PCIT-2, Jaipur

In the result ITA NO. ITA 57/JPR/2021 is also stands dismissed

ITA 56/JPR/2021[2016-17]Status: DisposedITAT Jaipur05 May 2022AY 2016-17
For Appellant: Sh. Mahendra Gargieya (Adv.)For Respondent: Sh. Manoj Mehar (CIT)
Section 263Section 5

…h conclusions, I am aided by the following judicial rulings: (i) Malabar Industrial Limited Vs. CIT (SC) 243 ITR 83 (ii) TTK LIG Ltd. Vs ACIT (Mad) 51 DTR 228 (iii) Arvee International Vs. Addl CIT (ITAT-Mum) 101 ITD 495 (iv) CIT Vs. Nagesh Knitwears P. Ltd. 345 ITR 135 (Del- HC) (v) Gee Vee Enterprise Vs. Additional CIT 99 ITR 375 (vi) CIT Vs. Raisions Industries Ltd. 288 ITR 322 (SC) (vii) Seshasayee Paper & Boards Ltd. 242 ITR 490 (Mad) In view of the above, I hold that the order passed by the AO on 20.12.2018 was passed without conducting necessary inquires and without verifying necessary details which AO o…

Sh. Mahesh Chugh, Chandigarh vs. Pr.CIT-2, Chandigarh

In the result, the appeal of the assessee is allowed

ITA 104/CHANDI/2021[2015-16]Status: DisposedITAT Chandigarh21 Apr 2022AY 2015-16
For Appellant: Shri Tejmohan Singh, AdvocateFor Respondent: Shri Sarabjeet Singh, CIT-DR
Section 263

…आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण,च"डीगढ़ "यायपीठ आयकर अपीलीय अिधकरण च"डीगढ़ "यायपीठ च"डीगढ़ "यायपीठ ‘‘बी च"डीगढ़ "यायपीठ बी.’’, च"डीगढ़ च"डीगढ़ च"डीगढ़ च"डीगढ़ बी बी IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH ‘B’ CHANDIGARH BEFORE: SMT. DIVA SINGH, JUDICIAL MEMBER & SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER आयकर अपील अपील संसंसंसं./ ITA No. 104/CHD/2021 आयकर आयकर आयकर अपील अपील Assessment Year : 2015-16 Shri Mahesh Chug, The Pr. CIT-I, बनाम # 3113, Sector 28-D, Chandigarh-2. VS Chandigarh. "थायी लेखा सं./PAN /TAN No: ACZPC8060H अपीलाथ"/Appellant ""यथ"/Respondent िनधा"रती क" ओर से/…

Rajesh Nagaraja Rao Jagdale, Bengaluru vs. Principal Commissioner of Income Tax (Central), Bangalore

In the result appeal filed by the assessee stands dismissed

ITA 208/BANG/2021[2016-17]Status: DisposedITAT Bangalore31 Jan 2022AY 2016-17
For Appellant: Shri L. Bharath, CA
Section 132Section 143Section 143(2)Section 153Section 153CSection 263Section 41(1)Section 56Section 56o

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Year : 2016-17 Shri Rajesh Nagaraja Rao Jagdale, The Principal 39/23, Sumeru, Commissioner of 29th Cross, 7th Block, Income-tax, Jayanagar, (Central), Bangalore – 560070. Vs. Bangalore. PAN: AEJPJ9235K APPELLANT RESPONDENT Assessee by : Shri L. Bharath, CA : Shri Sumer Singh Meena, CIT Revenue by DR (OSD) Date of Hearing : 23-12-2021 Date of Pronouncement : 31-01-2022 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal is filed by assessee against order da…

Varun Khandelwal, New Delhi vs. Prcit-24, New Delhi

In the result, the appeal of the assessee is allowed

ITA 7891/DEL/2018[2014-15]Status: DisposedITAT Delhi27 Jan 2022AY 2014-15

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

For Appellant: Shri Hiren Mehta, C. AFor Respondent: Shri T. Kipgen, [CIT] – D. R
Section 143(2)Section 143(3)Section 263

…lhi Metro Express Pvt. Ltd., ITA No. 705/2017 (Del.) - (Para 10); (b) ITO Vs, D.G. Housing Projects Ltd., 20 Taxmann.com 587 (Del.) (Para 16 & 17) (c) Globus Infocom Ltd. Vs. CIT 50 Taxmann.com 100 (Del.) - (Para 17) (d) CIT Vs. Nagesh Knitwears Pvt. Ltd., 22 Taxmann.com 309 (Del.) (Para 36). 10. Another important contention raised by the Ld. Counsel is that, in the entire order of the ld. Pr. CIT there is no whisper about holding that assessment order is erroneous in any manner or prejudicial to the interest of Revenue to the pre-requisite condition of having jurisdiction under Section 263 of the Act. Apart…

Shree Cement Limited, Beawar vs. Pr.CIT, Udaipur

In the result, the appeal of the assessee is allowed

ITA 4/JPR/2021[2014-15]Status: DisposedITAT Jaipur23 Jun 2021AY 2014-15

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 04/Jp/2021 Assessment Year: 2014-15 Shree Cement Limited, Cuke Pr.Cit, Vs. Bangur Nagar, Post Box No. 33, Udaipur. Beawar. Pan No.: Aaccs 8796 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri Dilip Desai (Ca) Shri Vijay Shah (Ca) Shri Mohit Choudhary (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 01/04/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 23/06/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of Ld. Pcit, Udaipur Dated 03.02.2021 Passed U/S 263 Of The Income Tax Act, 1961 (In Short The Act) For The Assessment Year 2014-15. The Grounds Of Appeal Taken By The Assessee Are As Under: “1. That On The Facts & In The Circumstances Of The Case, The Learned Principal Commissioner Of Income Tax – Udaipur, (Here- In- After Referred To As Ld. Pr. Cit) Was Not Justified In Initiating Proceedings U/S 263 Of The Income Tax Act, 1961 Since The Order Passed By The Assessing Officer (A.O.) Was Neither Erroneous Nor Prejudicial To The Interest Of The Revenue.

For Appellant: Shri Dilip Desai (CA)For Respondent: Shri B.K. Gupta (CIT-DR)
Section 115JSection 142(1)Section 143(2)Section 143(3)Section 263

…r to the effectiveness of the amendment yet we are of the view that explanation cannot be said to have override the law interpreted by the Hon’ble Delhi High Court in the 76 ITA 04/JP/2021_ Shree Cement Ltd. Vs Pr.CIT case of Nagesh Knitwears Pvt. Ltd. (2012) 345 ITR 135 wherein the Hon’ble Delhi High Court has elucidated and explained the scope of provision of 263 of the Act and the same has been extracted by Hon’ble Delhi High Court in the case of CIT vs Goetze (India) Ltd.,361 ITR 505 which reads as under:- ‘’Thus, in cases of wrong opinion or finding on merits, the Commissioner of Income tax has to come to co…

Shri Krishna Mohan Chuorsiya, Rajgarh vs. The Pr. CIT Ujjain, Ujjain

ITA 626/IND/2019[2014-15]Status: DisposedITAT Indore25 May 2021AY 2014-15

Bench: Shri Manish Borad & Mis Madhumita Royassessment Year:2014-15 Shri Krishna Mohan Pr. Cit Choursiya(Prop. Of M/S Laxmi Ujjain Mp बनाम/ Auto Parts) Vs. Ward No.14, Bus Stand, Kurawar Rajgarh(M.P.) (Appellant) (Respondent ) P.A. No.Aempc3634G

Section 143Section 143(2)Section 143(3)Section 263Section 68

…ustrial Co. Ltd. Vis Commissioner of Income 243 ITR 83 (SC) 1 Tax Smt. Taradevi Aggrawal V/s Commissioner oflncome Tax 2. 88 ITR 323 (SC) Rampyaridevi Saraogi V/s Commissioner of Income Tax 67 ITR 84 3 (SC) Commissioner of Income Tax V/s Nagesh Knitwears Pvt. 345 ITR 135 4 Ltd (Delhi HC) Krishna Mohan Choursiya Gee Vee Enterprises V/s Addl. Commissioner oflncome 99 ITR 375 (Delhi HC) 5 Tax Bhushan Steel Ltd. V/s Asstt. Commissioner oflncome IT AT A Bench Delhi 6 Tax Commissioner of Income-tax v.Deepak Kumar Garg 299 ITR 435 (Madhya 7. Pradesh) Commissioner of Income-tax v. Mahavar Traders 220 ITR 167 (Madhya…

Shri Shaligram Barod, Indore vs. Pr. CIT-1, Indore

ITA 625/IND/2019[2014-15]Status: DisposedITAT Indore30 Apr 2021AY 2014-15

Bench: Hon'Ble Manish Borad & Hon'Ble’ Madhumita Royassessment Year:2014-15 Shri Shaligram Barod, Pr. Cit-I, Ah/29, Hig, Sukhliya Indore बनाम/ Indore Vs. (Appellant) (Respondent ) P.A. No. Ahfpp4068H Appellant By Shri S.N. Agrawal, Ca Revenue By Shri S.B. Prasad, Cit-Dr

Section 143(3)Section 263Section 40A(2)(b)Section 54Section 54BSection 54FSection 54F(1)

…ed CASE LAW No. Malabar Industrial Co. Ltd. Vis Commissioner of 243 ITR 83 (SC) Income 1 Tax 2. Smt. Taradevi Aggrawa1 Vis Commissioner 88 ITR 323 (SC) Rampyaridevi Saraogi V Is Commissioner of 67 ITR 84 Income Tax 3 (SC) Commissioner of Income Tax Vis Nagesh 345 ITR 135 Knitwears Pvt. Ltd. 4 (Delhi HC) Gee Vee Enterprises Vis Addl. Commissioner of 99 ITR 375 (Delhi HC) Income Tax 5 Bhushan Steel Ltd. Vis Asstt. Commissioner of IT AT A Bench Delhi lncome Tax 6 Commissioner of Income-tax v.Deepak Kumar 299 ITR 435 (Madhya Garg 7. Pradesh) Commissioner of Income-tax v. Mahavar Traders 220 ITR 167 (Madhya 8. Prad…

DCIT (Ltu), New Delhi vs. M/S. Gail (India) Ltd., New Delhi

Appeal is dismissed

ITA 4642/DEL/2013[1996-97]Status: DisposedITAT Delhi26 Oct 2020AY 1996-97

Bench: Sh. R. K. Panda & Ms Suchitra Kamble

Section 80HSection 80I

…ods (1999) 104 Taxman 204 (SC) iv. Cambay Electrical Supply In. Co. Ltd. vs. CIT 113 ITR 673 (SC) v. India Commet International vs. ITO (2013) 354 ITR 673 (SC) vi. CIT vs. Menon Impex (P.) Ltd. 259 ITR 403 (Madras) vii. CIT vs. Nagesh Knitware Ltd. (2012) 345 ITR 135 (Del.) viii. Essar Power Ltd. vs. Addl. CIT (2013) 32 taxmann.com 346 (Mum. Tri.) 17. As regards to Interest on employee loans and advances, the Ld. DR submitted that the first degree of source of interest income is from loans given to employees and is not derived from industrial undertaking. Hence, the ratio of Liberty India (supra) read with S…

Gail (India) Ltd., New Delhi vs. DCIT-Ltu Delhi, New Delhi

Appeal is dismissed

ITA 4454/DEL/2013[1996-97]Status: DisposedITAT Delhi26 Oct 2020AY 1996-97

Bench: Sh. R. K. Panda & Ms Suchitra Kamble

Section 80HSection 80I

…ods (1999) 104 Taxman 204 (SC) iv. Cambay Electrical Supply In. Co. Ltd. vs. CIT 113 ITR 673 (SC) v. India Commet International vs. ITO (2013) 354 ITR 673 (SC) vi. CIT vs. Menon Impex (P.) Ltd. 259 ITR 403 (Madras) vii. CIT vs. Nagesh Knitware Ltd. (2012) 345 ITR 135 (Del.) viii. Essar Power Ltd. vs. Addl. CIT (2013) 32 taxmann.com 346 (Mum. Tri.) 17. As regards to Interest on employee loans and advances, the Ld. DR submitted that the first degree of source of interest income is from loans given to employees and is not derived from industrial undertaking. Hence, the ratio of Liberty India (supra) read with S…

Steria (India) Ltd., Noida vs. Addl. CIT, Spl. Range- 8, New Delhi

In the result ITA number 5745/del/2018 for assessment year 2014 – 15

ITA 5745/DEL/2018[2014-15]Status: DisposedITAT Delhi28 Sept 2020AY 2014-15

Bench: Shri Kuldip Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Sh. Anupam Kant Garg, CIT DR
Section 143Section 143(3)Section 144CSection 92C

…or the High Court. To the same effect are the following decisions:  CCE v. Ratan Melting & Wire Industries : 220 CTR 98 (SC)  J&K Synthetics vs. CIT: 83 ITR 335 (SC)  CIT vs. Hero Cycles Pvt Ltd : 228 ITR 463(SC)  CIT v. Nagesh Knitwears (P.) Ltd : [2012] 345 ITR 135 (Delhi)  CIT v. Central Bank of India: 185 ITR 6 (Bom)  CIT v. Indian Oil Co. Ltd : [2012] 254 CTR 113 (Bom) 50. He further submitted that the decision of the Hyderabad Bench of Tribunal in the case of VST Industries Ltd v. ACIT in ITA No. 647/Hyd/2012, conferring with the view of the Special Bench in Bank of Bahrain and Kuwait (supra), held t…

M/S Steria Ndia Ltd., Noida vs. Addl CIT, New Delhi

In the result ITA number 5745/del/2018 for assessment year 2014 – 15

ITA 741/DEL/2017[2012-13]Status: DisposedITAT Delhi28 Sept 2020AY 2012-13

Bench: Shri Kuldip Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Sh. Anupam Kant Garg, CIT DR
Section 143Section 143(3)Section 144CSection 92C

…or the High Court. To the same effect are the following decisions:  CCE v. Ratan Melting & Wire Industries : 220 CTR 98 (SC)  J&K Synthetics vs. CIT: 83 ITR 335 (SC)  CIT vs. Hero Cycles Pvt Ltd : 228 ITR 463(SC)  CIT v. Nagesh Knitwears (P.) Ltd : [2012] 345 ITR 135 (Delhi)  CIT v. Central Bank of India: 185 ITR 6 (Bom)  CIT v. Indian Oil Co. Ltd : [2012] 254 CTR 113 (Bom) 50. He further submitted that the decision of the Hyderabad Bench of Tribunal in the case of VST Industries Ltd v. ACIT in ITA No. 647/Hyd/2012, conferring with the view of the Special Bench in Bank of Bahrain and Kuwait (supra), held t…

Steria India Ltd., Noida vs. Addl.CIT, Speciaql Range-8, New Delhi

In the result ITA number 5745/del/2018 for assessment year 2014 – 15

ITA 3992/DEL/2017[2013-14]Status: DisposedITAT Delhi28 Sept 2020AY 2013-14

Bench: Shri Kuldip Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Sh. Anupam Kant Garg, CIT DR
Section 143Section 143(3)Section 144CSection 92C

…or the High Court. To the same effect are the following decisions:  CCE v. Ratan Melting & Wire Industries : 220 CTR 98 (SC)  J&K Synthetics vs. CIT: 83 ITR 335 (SC)  CIT vs. Hero Cycles Pvt Ltd : 228 ITR 463(SC)  CIT v. Nagesh Knitwears (P.) Ltd : [2012] 345 ITR 135 (Delhi)  CIT v. Central Bank of India: 185 ITR 6 (Bom)  CIT v. Indian Oil Co. Ltd : [2012] 254 CTR 113 (Bom) 50. He further submitted that the decision of the Hyderabad Bench of Tribunal in the case of VST Industries Ltd v. ACIT in ITA No. 647/Hyd/2012, conferring with the view of the Special Bench in Bank of Bahrain and Kuwait (supra), held t…

M/S. Guru Kripa Career Institute Pvt. Ltd., Sikar vs. Pr.CIT-3, Jaipur

In the result, appeal of the assessee is allowed

ITA 283/JPR/2020[2015-16]Status: DisposedITAT Jaipur01 Sept 2020AY 2015-16
For Appellant: Shri S.R. Sharma &For Respondent: Shri B.K. Gupta (CIT-DR)
Section 115BSection 133ASection 143(3)Section 263Section 40A(3)Section 68

…titute P Ltd. Vs PCIT assessment order passed prior to the effective ness of the amendment yet we are of the view that explanation cannot be said to have override the law interpreted by the Hon’ble Delhi High Court in case of Nagesh Knitwears Pvt. Ltd. (2012) 345 ITR 135 Where in the Hon’ble Delhi High Court has elucidated and explained the scope of provision of 263 of the Act and the same has been extracted by hon’ble Delhi High Court in the case of CIT vs. Goetze (India) Ltd 361 ITR 505 which read as under:- “Thus, in cases of wrong opinion or finding on merits, the Commissioner of Income tax has to come to con…

M/S. Sanee Infrastructure Pvt. Ltd., Bhopal vs. The Pr CIT, Bhopal

In the result appeal of the assessee is partly allowed

ITA 742/IND/2018[15-16]Status: DisposedITAT Indore01 Jun 2020

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2015-16 M/S. Sanee Infrastructure Pr.Cit-2, Pvt. Ltd, Vs. Bhopal D-1, Machna Colony, 6 No Bus Stop, Bhopal (Appellant) (Revenue ) Pan No.Aagcs8307M Appellant By Shri Arun Jain, Ca Revenue By Shri S.B. Prasad, Cit Date Of Hearing 12.03.2020 Date Of Pronouncement 01.06.2020 O R D E R

Section 143(2)Section 143(3)Section 263Section 40A(2)(b)

…119 (v) CIT vs Sohana Wollen Mills (2007) 207 CTR (P&H) 178 (vi) Malabar Industrial Co. Ltd V/s CIT 243 ITR 83 (SC) (vii) Smt. Taradevi Agrawal V/s CIT 88 ITR 323 (SC) (viii) Rampyaridevi Saraogi V/s CIT 67 ITR 84 (SC) (ix) CIT V/s Nagesh Knitwears Pvt. Ltd 345 ITR 135 (Delhi HC) (x) Gee Vee Enterprises V/s Addl. CIT 99 ITR 375 (DelhiHC) (xi) Bhushan Steel Ltd V/s ACIT ITAT A Bench Delhi (xii) CIT V Deepak Kumar Garg 299 ITR 435 (M.P) (xiii) CIT V Mahavar Traders 220 ITR 167 (M.P) (xiv) Smt. Renu Gupta v CIT 301 ITR 45 (Rajasthan) (xv) PT Lashkari Ram V CIT 272 ITR 309 (Allahabad) (xvi) CIT V Himachal Pradesh F…