CIT v. New Central Jute Mills Co. Ltd.

118 ITR 1005High Court1979#3638 most cited

What is CIT v. New Central Jute Mills Co. Ltd. authority for?

Principles of law laid down by a court can constitute information for an Income Tax Officer to form a belief that income has escaped assessment, validating reassessment proceedings.

32

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2023.

Also referred to as

CIT v. New Central Jute Mills Co. Ltd. · 118 ITR 1005 · reassessment · escaped income · formation of belief · section 148 · information on point of law · U.P. State Brassware Corporation Ltd. v. CIT

Judgments citing CIT v. New Central Jute Mills Co. Ltd.

DCIT Cir. 4(3)(2), Mumbai vs. Vipul Impex & Infrabuild Ltd., Mumbai

The appeals of the Revenue are allowed for statistical purposes

ITA 2315/MUM/2016[2010-11]Status: DisposedITAT Mumbai16 May 2018AY 2010-11

Bench: Shri Joginder Singh & Shri G. Manjunatha

Section 143(2)Section 144Section 147Section 148Section 40A(3)

…ncome had escaped assessment. The reassessment was held to be valid. In the case of U.P. State Brassware Corporation Ltd. v. CIT, (2005) 277 ITR 40 (All), the principles laid down by the Calcutta High Court in CIT v. New Central Jute Mills Co. Ltd. : (1979) 118 ITR 1005 (Cal) did constitute information on a point of law which should be taken into consideration by the ITO in forming his belief that the income to that extent had escaped assessment to tax and, the reassessment was held to be valid. In Sunder Carpet Industries v. ITO, (2010) 324 ITR 417 (All), held that the Departmental Valuer's Report constitu…

DCIT Cir. 4(3)(2), Mumbai vs. Vipul Impex & Infrabuild Ltd., Mumbai

The appeals of the Revenue are allowed for statistical purposes

ITA 2314/MUM/2016[2007-08]Status: DisposedITAT Mumbai16 May 2018AY 2007-08

Bench: Shri Joginder Singh & Shri G. Manjunatha

Section 143(2)Section 144Section 147Section 148Section 40A(3)

…ncome had escaped assessment. The reassessment was held to be valid. In the case of U.P. State Brassware Corporation Ltd. v. CIT, (2005) 277 ITR 40 (All), the principles laid down by the Calcutta High Court in CIT v. New Central Jute Mills Co. Ltd. : (1979) 118 ITR 1005 (Cal) did constitute information on a point of law which should be taken into consideration by the ITO in forming his belief that the income to that extent had escaped assessment to tax and, the reassessment was held to be valid. In Sunder Carpet Industries v. ITO, (2010) 324 ITR 417 (All), held that the Departmental Valuer's Report constitu…

DCIT Cir. 4(3)(2), Mumbai vs. Vipul Impex & Infrabuild Ltd., Mumbai

The appeals of the Revenue are allowed for statistical purposes

ITA 2313/MUM/2016[2008-09]Status: DisposedITAT Mumbai16 May 2018AY 2008-09

Bench: Shri Joginder Singh & Shri G. Manjunatha

Section 143(2)Section 144Section 147Section 148Section 40A(3)

…ncome had escaped assessment. The reassessment was held to be valid. In the case of U.P. State Brassware Corporation Ltd. v. CIT, (2005) 277 ITR 40 (All), the principles laid down by the Calcutta High Court in CIT v. New Central Jute Mills Co. Ltd. : (1979) 118 ITR 1005 (Cal) did constitute information on a point of law which should be taken into consideration by the ITO in forming his belief that the income to that extent had escaped assessment to tax and, the reassessment was held to be valid. In Sunder Carpet Industries v. ITO, (2010) 324 ITR 417 (All), held that the Departmental Valuer's Report constitu…

Asst CIT Cir 3, Kalyan vs. Rich & Royal, Kalyan

In the result appeal of the revenue is dismissed in the manner indicated above

ITA 1007/MUM/2016[2007-08]Status: DisposedITAT Mumbai02 Apr 2018AY 2007-08

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1007/Mum/2016 (नििाारण वर्ा / Assessment Year: 2007-08) Acit Cir 3 बिाम/ M/S. Rich & Royal 2N D Floor, Rani Mansion, The Raymond Shop, Murbad Road, Kalyan(W), Zojwalla Complex, V. Dist Thane 421301 Agra Road, Kalyan (W) 421301 स्थायी ऱेखा सं./ Pan : Aadfr3357G (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Shri. Subodh RatnaparkhiFor Respondent: Shri. Saurabh Kumar Rai
Section 131Section 133(6)Section 143(3)Section 148Section 43B

…income had escaped assessment. The reassessment was held to be valid. In the case of U.P. State Brassware Corporation Ltd. v. CIT, (2005) 277 ITR 40 (All), the principles laid down by the Calcutta High Court in CIT v. New Central Jute Mills Co. Ltd. : (1979) 118 ITR 1005 (Cal) did constitute information on a point of law which should be taken into consideration by the ITO in forming his belief that the income to that extent had escaped assessment to tax and, the reassessment was held to be valid. In Sunder Carpet Industries v. ITO, (2010) 324 ITR 417 (All), held that the Departmental Valuer's Report constituted…

Mithalal D Mutha, Mumbai vs. ITO WD 16(3)(1), Mumbai

The appeal of the assessee is dismissed as already a justified view has been taken by the Ld

ITA 594/MUM/2016[2009-10]Status: DisposedITAT Mumbai27 Oct 2017AY 2009-10

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2009-10

Section 133(6)Section 139Section 142Section 143Section 143(3)Section 147Section 148

…income had escaped assessment. The reassessment was held to be valid. In the case of U.P. State Brassware Corporation Ltd. v. CIT, (2005) 277 ITR 40 (All), the principles laid down by the Calcutta High Court in CIT v. New Central Jute Mills Co. Ltd. : (1979) 118 ITR 1005 (Cal) did constitute information on a point of law which should be taken into consideration by the ITO in forming his belief that the income to that extent had escaped assessment to tax and, the reassessment was held to be valid. In Sunder Carpet Industries v. ITO, (2010) 324 ITR 417 (All), held that the Departmental Valuer's Report 31 Shri Mit…

Swanston Multiplex Cinemas P.Ltd, Mumbai vs. Asst CIT Cir 11(1), Mumbai

The appeal of the assessee is partly allowed

ITA 1135/MUM/2015[2005-06]Status: DisposedITAT Mumbai03 Oct 2017AY 2005-06

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2005-06 Swanston Multiplex Cinemas Acit, Private Limited, Circle-11(1), बनाम/ 9Th Floor, Viraj Towers, W.E. R. No.467, Vs. Highway Next To Andheri Aayakar Bhavan, Flyover Andheri (East), M. K. Road, Mumai-400093 Mumbai-400020 ("नधा"रती/Assessee) (राज"व /Revenue) Pan No.:-Aafcs6295K

Section 139Section 142Section 143Section 143(1)Section 143(2)Section 147Section 148Section 40

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ‘ ई’,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “E”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी जी. मंजूनाथ, लेखा सद"य, के सम" Before Shri JOGINDER SINGH, Judicial Member, and Shri G. MANJUNATHA, Accountant Member Assessment Year: 2005-06 Swanston Multiplex Cinemas ACIT, Private Limited, Circle-11(1), बनाम/ 9th Floor, Viraj Towers, W.E. R. No.467, Vs. Highway Next to Andheri Aayakar Bhavan, Flyover Andheri (East), M. K. Road, Mumai-400093 Mumbai-400020 ("नधा"रती/Assessee) (राज"व /Revenue) PAN No.:-AAFCS6295K "नधा"रती क" ओर से / Assessee by Shri R. Deshpande Sh…

Asst CIT 14(1), Mumbai vs. Kantilal C Jain, Mumbai

The appeal of the assessee is partly allowed

ITA 6924/MUM/2014[2010-11]Status: DisposedITAT Mumbai25 Sept 2017AY 2010-11

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2010-11 Asst. Cit-14(1), Shri Kantilal C. Jain 2Nd Floor, Earnest House, M/S. Shailesh Jewellers बनाम/ Nariman Point, Shop No. 4, 2Nd Floor, Vs. Mumbai-400 021 108/112, Ustad Building, Zaveri Bazar, Opp. Khara Kuwa, Mumbai-400 002 ("नधा"रती /Assessee) Pan. No. Aadpj 9583 E

Section 139Section 142Section 143Section 143(2)Section 143(3)Section 147Section 148

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,‘ए’’,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, ‘A’ MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी रिमत कोचर, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Ramit Kochar, Accountant Member Assessment Year: 2010-11 Asst. CIT-14(1), Shri Kantilal C. Jain 2nd Floor, Earnest House, M/s. Shailesh Jewellers बनाम/ Nariman Point, Shop No. 4, 2nd Floor, Vs. Mumbai-400 021 108/112, Ustad Building, Zaveri Bazar, Opp. Khara Kuwa, Mumbai-400 002 ("नधा"रती /Assessee) PAN. No. AADPJ 9583 E ITA Nos.6504 & 6505/Mum/2014 Assessment Years: 2009-10 & 2010-11…

DCIT 9(1)(1), Mumbai vs. Acon Measurement P.Ltd, Mumbai

The appeal of the Revenue is dismissed and the

ITA 4736/MUM/2015[2009-10]Status: DisposedITAT Mumbai06 Sept 2017AY 2009-10

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2009-10 Dcit -9(1))(1), M/S Acon Measurement Pvt. Room No.260A, 02Nd Floor बनाम/ Limited, Aayakar Bhavan A-22, Nanddham Indl. Estate, Vs. M.K. Road Marol Maroshi Road, Mumbai-400020. Andheri (East), Mumbai-400059 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No. Aaaca5078K

Section 133(6)

…No.112/Mum/2017 assessment. The reassessment was held to be valid. In the case of U.P. State Brassware Corporation Ltd. v. CIT, (2005) 277 ITR 40 (All), the principles laid down by the Calcutta High Court in CIT v. New Central Jute Mills Co. Ltd. : (1979) 118 ITR 1005 (Cal) did constitute information on a point of law which should be taken into consideration by the ITO in forming his belief that the income to that extent had escaped assessment to tax and, the reassessment was held to be valid. In Sunder Carpet Industries v. ITO, (2010) 324 ITR 417 (All), held that the Departmental Valuer's Report constitu…

Rewas Ports Ltd, Mumbai vs. Asst CIT RG 7(2), Mumbai

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

ITA 758/MUM/2012[2008-09]Status: DisposedITAT Mumbai12 Apr 2017AY 2008-09

Bench: Shri D.T.Garasia, Jm & Shri Rajesh Kumar, Am

For Appellant: Shri Vijay MehtaFor Respondent: Dr.P.Danial
Section 10(35)Section 143(3)Section 56(1)Section 57

…fertilisers and chemicals Ltd versus CIT (AP) 198 ITR 388 and CIT versus Hindustan Electro graphite's Ltd (MP) 177 ITR 465, CIT versus Tamil Nadu industrial development Corporation Ltd (Mad) 189 ITR 670, CIT versus newscentre jute mills co-operative Ltd (Cal) 118 ITR 1005, CIT versus VP Gopinathan (SC) 248 ITR 449 and CIT versus Manipur Shipping bills Corporation Ltd (Gau) 26 ITR 551. I have gone through these decisions and I am fully in agreement with the assessing officer that income so earned before commencement of the business though out of business 10 I.T.A. No.758/Mum/2012 funds has to be assessed as incom…

Disha N . Lalwani, Mumbai vs. ITO WD 23(2)(2), Mumbai

The appeal of the assessee is dismissed

ITA 6398/MUM/2012[2003-04]Status: DisposedITAT Mumbai22 Mar 2017AY 2003-04

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2003-04 Disha N. Lalwani, Income Tax Officer- J-301, Vardhaman Nagar 23(2)(2), बनाम/ Jn. Of R.P. Rd. & M.G. Rd. C-10-Pratyakshkar Vs. Mulund (W), Bhavan, 02Nd Floor, Mumbai-400080 Bandra Kurla Complex, Bandra, Mumbai-400007 ("नधा"रती/Assessee) (राज"व /Revenue) P.A. No. Aaapl6056H

Section 143(1)Section 143(3)Section 147Section 148

…income had escaped assessment. The reassessment was held to be valid. In the case of U.P. State Brassware Corporation Ltd. v. CIT, (2005) 277 ITR 40 (All), the principles laid down by the Calcutta High Court in CIT v. New Central Jute Mills Co. Ltd. : (1979) 118 ITR 1005 (Cal) did constitute information on a point of law which should be taken into consideration by the ITO in forming his belief that the income to that extent had escaped assessment to tax and, the reassessment was held to be valid. In Sunder Carpet Industries v. ITO, (2010) 324 ITR 417 (All), held that the Departmental 28 Disha N. Lalwani Valuer'…

M. Pallonji & Co. P.Ltd, Mumbai vs. Jt, CIT RG 2(2), Mumbai

The appeal of the assessee is partly allowed for statistical purposes

ITA 1594/MUM/2013[2004-05]Status: DisposedITAT Mumbai23 Jan 2017AY 2004-05

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2004-05 M. Pallonji & Co. Pvt. Ltd. Jcit, C/O- Taj Printing Works, Range-2(2), बनाम/ 46/A, Cawasji Patel Street, Aayakar Bhavan, Vs. Fort, M.K. Road, Mumbai-400001 Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacm3525B

Section 139Section 142Section 143Section 147Section 148Section 80I

…income had escaped assessment. The reassessment was held to be valid. In the case of U.P. State Brassware Corporation Ltd. v. CIT, (2005) 277 ITR 40 (All), the principles laid down by the Calcutta High Court in CIT v. New Central Jute Mills Co. Ltd. : (1979) 118 ITR 1005 (Cal) did constitute information on a point of law which should be taken into consideration by the ITO in forming his belief that the income to that extent had escaped assessment to tax and, the reassessment was held to be valid. In Sunder Carpet Industries v. ITO, (2010) 324 ITR 417 (All), held that the Departmental Valuer's Report constituted…

Prakash Fatandas Jassuja, Thane vs. ITO WD 3(2), Thane

The appeals of the assessee are partly allowed

ITA 4933/MUM/2015[2005-06]Status: DisposedITAT Mumbai20 Jan 2016AY 2005-06

Bench: Shri Joginder Singh

Section 133ASection 147

…e had escaped assessment. The reassessment was held to be valid. 2.34. In the case of U.P. State Brassware Corporation Ltd. v. CIT, (2005) 277 ITR 40 (All), the principles laid down by the Calcutta High Court in CIT v. New Central Jute Mills Co. Ltd. : (1979) 118 ITR 1005 (Cal) did constitute information on a point of law which should be taken into consideration by the ITO in forming his belief that the income to that extent had escaped assessment to tax and, the reassessment was held to be valid. In Sunder Carpet Industries v. ITO, (2010) 324 ITR 417 (All), held that the Departmental Valuer's Report constituted…