CIT v. Odeon Builders Pvt. ltd.

418 ITR 315Supreme Court of India2019#179 most cited

What is CIT v. Odeon Builders Pvt. ltd. authority for?

Income tax additions cannot be sustained merely on the basis of uncorroborated statements or allegations. The Revenue must bring on record sufficient material and allow the assessee to produce evidence to prove such additions.

408

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2018 to 2026.

Also referred to as

CIT v. Odeon Builders Pvt. Ltd. · 418 ITR 315 · Supreme Court · Section 132(4) statement · Section 133(6) notice · uncorroborated evidence · sufficiency of evidence · income tax additions · burden of proof · natural justice · bogus purchases

Sections most often in play

Section 153CSection 132Section 132(4)Section 143(3)Section 69Section 147Section 69BSection 148

Issues it is cited on

third party informationsection 65b(4)section 65bsection 10(26)section 65section 61section 158b(b)section 158bb(1)section 69bon-moneystatement under section 132(4)protective assessment

Judgments citing CIT v. Odeon Builders Pvt. ltd.

DCIT-19(1), Income Tax vs. Pavan Kumar B Chandan (E-Filed), Mumbai

Appeals are dismissed

ITA 2594/MUM/2023[2014-15]Status: DisposedITAT Mumbai22 Mar 2024AY 2014-15
For Appellant: Shri Shashank MehtaFor Respondent: Shri H. M. Bhatt (Sr. DR)
Section 10(38)Section 68

…e assessee because it has not been tested on the touchstone of cross-examination as held by the Hon'ble Supreme Court in the case of Andaman Timber Industries Vs. CCE reported in (2015) 281 CTR 241 (SC) and in the case of CIT v Odeon Builders Pvt. Ltd. (2019) 418 ITR 315. Therefore, nothing turns on these statements of brokers. Thus, we find that no infirmity in the order passed by Ld. CIT(A) deleting the addition of Rs.2,30,79,975/- + Rs.4,61,600/- by passing the impugned order. 8. We also note that the issue of denying exemption u/s 10(38) of the Act in respect of shares of Shri Shaleen Textile Ltd came up befo…

Savita Mercantiles Pvt Ltd., Mumbai vs. Income Tax Officer-3(3)(2), Mumbai

In the result, the appeal of the assessee is allowed

ITA 168/MUM/2023[2009-10]Status: DisposedITAT Mumbai12 Dec 2023AY 2009-10

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.168/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2009-10) Savita Mercantiles Pvt. Ltd. बिधम/ Ito-3(3)(2) 83, A Wing, Mittal Tower, Aaykar Bhavan, Maharshi Vs. Nariman Point, Mumbai- Karve Road, New Marine 400021. Lines, Churchgate, Maharashtra-400020. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aahcs9614G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Viraj Mehta Revenue By: Shri S. N. Kabra (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 28/11/2023 घोषणा की तारीख /Date Of Pronouncement: 12/12/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)/(Nfac), Delhi Dated 03.01.2023 For The Assessment Year 2009-10. 2. The Main Grievance Of The Assessee Is Against The Action Of The Ld. Cit(A) Confirming The Addition Of Rs.45,00,000/- Made By The Ao On Account Of Receipt Of Share Application Money Only On The Basis Of Statement Given By Shri Pravin Kumar Jain.

For Appellant: Shri Viraj MehtaFor Respondent: Shri S. N. Kabra (Sr. AR)
Section 132Section 133(6)Section 183(6)

…elied upon by assessing authority is a serious flaw which render the whole action a nullity. Same view was 7 A.Y. 2009-10 Savita Mercantiles Pvt. Ltd. reiterated in the decision of the Hon’ble Supreme Court in the case of CIT v Odeon Builders Pvt. Ltd. (2019) 418 ITR 315. Further, we note that the assessee has shown the nature of the receipt i.e. Rs.45,00,000/- as share application money, and has discharged the onus casted upon it u/s 68 of the Act by providing proof at investor i.e. identity of the shares subscriber by furnishing their PAN details, their ITR acknowledgment for AY. 2009-10; and from a perusal of…

Principle Commissioner O Income Tax-42, Mumbai vs. Sunil Govind Agre, Mumbai

In the result, the appeal of the revenue stands dismissed

ITA 1615/MUM/2023[2011-2012]Status: DisposedITAT Mumbai31 Oct 2023AY 2011-2012

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No.1615/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2011-12) Pr. Commissioner Of बिधम/ Sunil Govind Agre Income Tax-42 Room No.21, Plot Vs. Ito-42(1)(5), Mumbai No.255, Sankalp Society, Room No.945, 9Th Floor, Sector-2, Charkop, Kautilya Bhawan, Bkc, Kandivali, West, Bandra, East, Mumbai- Mumbai-400067. 400051. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aegpa0962H (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: None Revenue By: Shri Ganesh Rakh (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 24/08/2023 घोषणा की तारीख /Date Of Pronouncement: 31/10/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Revenue Against The Order Of The Ld. Cit(A)/Nfac, Delhi Dated 15.03.2023 For The Ay. 2012-13. 2. The Main Grievance Of The Revenue Is Against The Action Of The Ld. Cit(A) Deleting The Addition Of Rs.2,63,62,790/- Which Was Added By The Ao Since The Assessee Failed To Prove The Purchases As Genuine. & Ld Cit(A) Allowed The Appeal Of The Assessee By Restricting The Addition At Rs.4,99,264/- I.E. 0.31% Gross Profit (Gp) Of Rs.16,10,52,959/-.

For Appellant: NoneFor Respondent: Shri Ganesh Rakh (Sr. AR)
Section 133(6)Section 69C

…breach of principles of Natural Justice. It is a serious flaw which renders the order a nullity”. We also gainfully refer to the judgment of the Hon'ble Apex Court in similar case as that of the case in hand i.e. the case of CIT Vs. Odeon Builders Pvt. ltd. (418 ITR 315) wherein also it was held that, the addition/disallowance made solely on third party information without subjecting it to further scrutiny and denying the opportunity of cross-examination of the third party renders the addition/ disallowance bad in law. Therefore, in the light of the aforesaid discussion and judicial precedent cited by the Ld. CI…

T.G. Ranganath, Bangalore vs. DCIT, Bangalore

ITA 173/BANG/2015[2010-11]Status: DisposedITAT Bangalore30 Oct 2023AY 2010-11

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2008-09

For Appellant: Shri Satyanarayana Rao, A.R. &For Respondent: Shri Sathyasai Rath, D.R
Section 147Section 68

…ion and merely on the statement of the third party without verifying the genuineness of the statement is arbitrary and is liable to be deleted. He placed reliance on the decision of the Hon'ble Supreme Court in the case of CIT vs Odeon Builders (P) Ltd (2019) 110 Taxmann.com 64 (SC) wherein it was held that no addition can be made on the basis of third-party information. 47.6 He submitted that the Rajasthan High Court, in the case of Kan Singh Rathore D.D. in ITA No. 192/2014 has also held that an confronted reliance on a statement made by the third parties cannot be considered as basis for making an addition to…

T.G. Ranganath, Bangalore vs. ACIT, Bangalore

ITA 1467/BANG/2012[2009-10]Status: DisposedITAT Bangalore30 Oct 2023AY 2009-10

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2008-09

For Appellant: Shri Satyanarayana Rao, A.R. &For Respondent: Shri Sathyasai Rath, D.R
Section 147Section 68

…ion and merely on the statement of the third party without verifying the genuineness of the statement is arbitrary and is liable to be deleted. He placed reliance on the decision of the Hon'ble Supreme Court in the case of CIT vs Odeon Builders (P) Ltd (2019) 110 Taxmann.com 64 (SC) wherein it was held that no addition can be made on the basis of third-party information. 47.6 He submitted that the Rajasthan High Court, in the case of Kan Singh Rathore D.D. in ITA No. 192/2014 has also held that an confronted reliance on a statement made by the third parties cannot be considered as basis for making an addition to…

ACIT, Bangalore vs. Sri. T.G. Ranganath, Bangalore

ITA 1457/BANG/2012[2009-10]Status: DisposedITAT Bangalore30 Oct 2023AY 2009-10

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2008-09

For Appellant: Shri Satyanarayana Rao, A.R. &For Respondent: Shri Sathyasai Rath, D.R
Section 147Section 68

…ion and merely on the statement of the third party without verifying the genuineness of the statement is arbitrary and is liable to be deleted. He placed reliance on the decision of the Hon'ble Supreme Court in the case of CIT vs Odeon Builders (P) Ltd (2019) 110 Taxmann.com 64 (SC) wherein it was held that no addition can be made on the basis of third-party information. 47.6 He submitted that the Rajasthan High Court, in the case of Kan Singh Rathore D.D. in ITA No. 192/2014 has also held that an confronted reliance on a statement made by the third parties cannot be considered as basis for making an addition to…

Apl Metals Limited, Kolkata vs. ACIT, Central Circle - 3(3), Kolkata

ITA 297/KOL/2023[2018-19]Status: DisposedITAT Kolkata15 Sept 2023AY 2018-19

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm I.T.A. No.297/Kol/2023 Assessment Years: 2018-19 Apl Metals Ltd. Vs. Income Tax Officer, National C/O, Subash Agarwal & Faceless Assessment Centre, Associates, Advocates, Siddha Delhi. Gibson, 1, Gibson Lane, Suite 213, 2Nd Floor, Kolkata- 700069. (Pan: Aacca4246P) (Appellant) (Respondent)

Section 115BSection 143(2)Section 143(3)Section 250Section 69C

…Gross profits declared in the return are consistent Page 5 of 38 I.T.A. No. 297/Kol/2023 A Y: 2018-19, APL Metals Ltd. with the preceding year’s gross profit rates. Further reliance was placed on the following decisions: 1. CIT vs. Odeon Builders (P) Ltd. 110 Taxmann.com 64 (SC) 2. PCIT vs Mohd Hazi Adam & co. ITA No. 1004 of 2016 dated 11.02.2019 (Bom) 3. PCIT Vs. Vaman International (P) Ltd. ITA No. 1940 of 2017 dated 29.0.2020 (Bom) 4. PCIT Vs. Subarna Rice Mill (2018) 96 Taxmann.com 286 (Cal) 5. Simit P. Sheth (2013) 38 Taxmann.com 385 (Guj.) 6. Vijay Trading Co. (2016) 76 Taxmann.com 366 (Guj) 8. During…

M/S. Yashaswi Fish Meal and Oil Company, Udupi vs. Deputy Commissioner of Income-Tax, Central Circle-1, Mangalore

In the result, all the appeals of the assessee are partly allowed

ITA 66/BANG/2023[2017-18]Status: DisposedITAT Bangalore01 Sept 2023AY 2017-18

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shi V. Srinivasan, A.RFor Respondent: Shri D.K. Mishra, D.R
Section 131Section 132(4)Section 133ASection 143Section 143(1)Section 143(3)Section 147Section 148

…non-genuine parties. The estimation of rate of profit return must necessarily vary with the nature of business and no uniform yardstick could be adopted.” 8.22 Further, Hon’ble Supreme Court in the case of CIT Vs. Odeon Builders Pvt. Ltd. reported in (2019) 418 ITR 315 (SC) held as under: 2. We have perused the review petition and find that the tax effect in this case is above Rs.1 crore, that is, Rs.6,59,27,298/-. Ordinarily, therefore, we would have recalled our order dated 17th September, 2018, since the order was passed only on the basis that the tax effect in this case is less than Rs.1 crore. 3. However,…

M/S. Yashaswi Fish Meal and Oil Company, Udupi vs. Deputy Commissioner of Income-Tax, Central Circle-1, Mangalore

In the result, all the appeals of the assessee are partly allowed

ITA 65/BANG/2023[2015-16]Status: DisposedITAT Bangalore01 Sept 2023AY 2015-16

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shi V. Srinivasan, A.RFor Respondent: Shri D.K. Mishra, D.R
Section 131Section 132(4)Section 133ASection 143Section 143(1)Section 143(3)Section 147Section 148

…non-genuine parties. The estimation of rate of profit return must necessarily vary with the nature of business and no uniform yardstick could be adopted.” 8.22 Further, Hon’ble Supreme Court in the case of CIT Vs. Odeon Builders Pvt. Ltd. reported in (2019) 418 ITR 315 (SC) held as under: 2. We have perused the review petition and find that the tax effect in this case is above Rs.1 crore, that is, Rs.6,59,27,298/-. Ordinarily, therefore, we would have recalled our order dated 17th September, 2018, since the order was passed only on the basis that the tax effect in this case is less than Rs.1 crore. 3. However,…

M/S. Yashaswi Fish Meal and Oil Company, Udupi vs. Deputy Commissioner of Income-Tax, Central Circle-1, Mangalore

In the result, all the appeals of the assessee are partly allowed

ITA 64/BANG/2023[2014-15]Status: DisposedITAT Bangalore01 Sept 2023AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shi V. Srinivasan, A.RFor Respondent: Shri D.K. Mishra, D.R
Section 131Section 132(4)Section 133ASection 143Section 143(1)Section 143(3)Section 147Section 148

…non-genuine parties. The estimation of rate of profit return must necessarily vary with the nature of business and no uniform yardstick could be adopted.” 8.22 Further, Hon’ble Supreme Court in the case of CIT Vs. Odeon Builders Pvt. Ltd. reported in (2019) 418 ITR 315 (SC) held as under: 2. We have perused the review petition and find that the tax effect in this case is above Rs.1 crore, that is, Rs.6,59,27,298/-. Ordinarily, therefore, we would have recalled our order dated 17th September, 2018, since the order was passed only on the basis that the tax effect in this case is less than Rs.1 crore. 3. However,…

M/S. Yashaswi Fish Meal and Oil Company, Udupi vs. Deputy Commissioner of Income-Tax, Central Circle-1, Mangalore

In the result, all the appeals of the assessee are partly allowed

ITA 63/BANG/2023[2013-14]Status: DisposedITAT Bangalore01 Sept 2023AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shi V. Srinivasan, A.RFor Respondent: Shri D.K. Mishra, D.R
Section 131Section 132(4)Section 133ASection 143Section 143(1)Section 143(3)Section 147Section 148

…non-genuine parties. The estimation of rate of profit return must necessarily vary with the nature of business and no uniform yardstick could be adopted.” 8.22 Further, Hon’ble Supreme Court in the case of CIT Vs. Odeon Builders Pvt. Ltd. reported in (2019) 418 ITR 315 (SC) held as under: 2. We have perused the review petition and find that the tax effect in this case is above Rs.1 crore, that is, Rs.6,59,27,298/-. Ordinarily, therefore, we would have recalled our order dated 17th September, 2018, since the order was passed only on the basis that the tax effect in this case is less than Rs.1 crore. 3. However,…

M/S. Yashaswi Fish Meal and Oil Company, Udupi vs. Deputy Commissioner of Income-Tax, Central Circle-1, Mangalore

In the result, all the appeals of the assessee are partly allowed

ITA 62/BANG/2023[2012-13]Status: DisposedITAT Bangalore01 Sept 2023AY 2012-13

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shi V. Srinivasan, A.RFor Respondent: Shri D.K. Mishra, D.R
Section 131Section 132(4)Section 133ASection 143Section 143(1)Section 143(3)Section 147Section 148

…non-genuine parties. The estimation of rate of profit return must necessarily vary with the nature of business and no uniform yardstick could be adopted.” 8.22 Further, Hon’ble Supreme Court in the case of CIT Vs. Odeon Builders Pvt. Ltd. reported in (2019) 418 ITR 315 (SC) held as under: 2. We have perused the review petition and find that the tax effect in this case is above Rs.1 crore, that is, Rs.6,59,27,298/-. Ordinarily, therefore, we would have recalled our order dated 17th September, 2018, since the order was passed only on the basis that the tax effect in this case is less than Rs.1 crore. 3. However,…

Smt. Sarla Jain, Khandwa vs. ITO Ward 1 Khandwa, Khandwa

ITA 287/IND/2019[2015-16]Status: DisposedITAT Indore24 Aug 2023AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2015-16 Smt. Sarla Jain, Ito, C/O Nakoda Marketing, Ward-1, बनाम/ Bhavani Mata Road, Khandwa Khandwa Vs. (Assessee / Appellant) (Revenue / Respondent) Pan: Abvpj1316J Assessee By Shri Pawan Ved, Advocate Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 31.05.2023 Date Of Pronouncement 24.08.2023

Section 10(38)Section 143(3)Section 153CSection 68

…itted that the issue is also covered by numerous decisions of ITAT benches in favour of assessee. A brief of several decisions is filed on Page No. 8 to 20 and Page No. 24 to 57 of Written-Submission. Reliance is also placed on CIT Vs. Odeon Builders (P) Ltd. 418 ITR 315 (SC) where it was held that if the assessee has submitted purchase bills, transportation bills, copy of accounts, VAT and income-tax returns of dealers and payments were also made through cheque, the purchase transactions cannot be treated as bogus. Lastly, Ld. AR also made a strong contention that the assessee has also applied to AO on multip…

Smt. Pushpa Chhajer, Jodhpur vs. ACIT, Circle-1, Jodhpur

In the result, appeal of the assessee is partly allowed

ITA 136/JODH/2023[2014-15]Status: DisposedITAT Jodhpur02 Aug 2023AY 2014-15
Section 133ASection 143(1)Section 143(3)Section 148Section 234B

…especially when the genuineness of the export of those goods by the assessee had been accepted by the Assessing Officer. The Commissioner (Appeals) had, thus, rightly deleted the addition" g] Hon’ble Supreme Court in the case of CIT Vs Odeon Builders Pvt Ltd 418 ITR 315 wherein the Hon’ble Court upheld the deletion of the disallowance in this case is based on third party information gathered by the Investigation Wing of the Department, which have not been independently subjected to further verification by the AO. In this case it was held: "We have perused the review petition and find that the tax effect in this…

Deepak Srichand Bathija, Mumbai vs. National Faceless Appeal Centre, Delhi

In the result, the appeal of the assessee is allowed

ITA 2103/MUM/2022[2011-12]Status: DisposedITAT Mumbai26 Jul 2023AY 2011-12
For Appellant: Shri H. S. RahejaFor Respondent: Shri P. D. Chogule (Sr. AR)
Section 129Section 132(4)Section 147Section 148Section 151(2)

…up for cross-examination. So according to us, without testing the statement on the touch-stone of cross-examination, Shri Vipuls’s statement could not have been relied upon as held by the Hon’ble Supreme Court in Andaman Timber [281 CTR 241] & Odeon Builders [418 ITR 315]. So according to us, once assessee has discharged the burden of proof by filing the basic/primary documents to prove the fact of purchase and sale of shares, and transaction has been duly credited in Demat account, and the consideration were through banking channel and STT has been paid, then no adverse view was warranted regarding claim of LTCG…

M/S. Spr Spirits Private Limited (Formerly Known As Spr Group Holdings Private Limited), Bangalore vs. Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

In the result, the appeals of the assessee are partly allowed for statistical purposes

ITA 134/BANG/2023[2011-12]Status: DisposedITAT Bangalore24 Jul 2023AY 2011-12

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Bharath L., A.RFor Respondent: Ms. Neera Malhotra, D.R

…of the revenue. 9. In these circumstances, no question of law, therefore, arises. All Income Tax Appeals are dismissed, accordingly. No order as to costs.” 6.18 Further, Hon’ble Supreme Court in the case of CIT Vs. Odeon Builders Pvt. Ltd. reported in (2019) 418 ITR 315 (SC) held as under: 2. We have perused the review petition and find that the tax effect in this case is above Rs.1 crore, that is, Rs.6,59,27,298/-. Ordinarily, therefore, we would have recalled our order dated 17th September, 2018, since the order was passed only on the basis that the tax effect in this case is less than Rs.1 crore. 3. However,…

M/S. Spr Spirits Private Limited (Formerly Known As Spr Group Holdings Private Limited), Bangalore vs. Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

In the result, the appeals of the assessee are partly allowed for statistical purposes

ITA 133/BANG/2023[2010-11]Status: DisposedITAT Bangalore24 Jul 2023AY 2010-11

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Bharath L., A.RFor Respondent: Ms. Neera Malhotra, D.R

…of the revenue. 9. In these circumstances, no question of law, therefore, arises. All Income Tax Appeals are dismissed, accordingly. No order as to costs.” 6.18 Further, Hon’ble Supreme Court in the case of CIT Vs. Odeon Builders Pvt. Ltd. reported in (2019) 418 ITR 315 (SC) held as under: 2. We have perused the review petition and find that the tax effect in this case is above Rs.1 crore, that is, Rs.6,59,27,298/-. Ordinarily, therefore, we would have recalled our order dated 17th September, 2018, since the order was passed only on the basis that the tax effect in this case is less than Rs.1 crore. 3. However,…

M/S. Spr Spirits Private Limited (Formerly Known As Spr Group Holdings Private Limited), Bangalore vs. Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

In the result, the appeals of the assessee are partly allowed for statistical purposes

ITA 132/BANG/2023[2009-2010]Status: DisposedITAT Bangalore24 Jul 2023AY 2009-2010

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Bharath L., A.RFor Respondent: Ms. Neera Malhotra, D.R

…of the revenue. 9. In these circumstances, no question of law, therefore, arises. All Income Tax Appeals are dismissed, accordingly. No order as to costs.” 6.18 Further, Hon’ble Supreme Court in the case of CIT Vs. Odeon Builders Pvt. Ltd. reported in (2019) 418 ITR 315 (SC) held as under: 2. We have perused the review petition and find that the tax effect in this case is above Rs.1 crore, that is, Rs.6,59,27,298/-. Ordinarily, therefore, we would have recalled our order dated 17th September, 2018, since the order was passed only on the basis that the tax effect in this case is less than Rs.1 crore. 3. However,…

M/S. Spr Spirits Private Limited (Formerly Known As Spr Group Holdings Private Limited), Bangalore vs. Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

In the result, the appeals of the assessee are partly allowed for statistical purposes

ITA 131/BANG/2023[2008-2009]Status: DisposedITAT Bangalore24 Jul 2023AY 2008-2009

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Bharath L., A.RFor Respondent: Ms. Neera Malhotra, D.R

…of the revenue. 9. In these circumstances, no question of law, therefore, arises. All Income Tax Appeals are dismissed, accordingly. No order as to costs.” 6.18 Further, Hon’ble Supreme Court in the case of CIT Vs. Odeon Builders Pvt. Ltd. reported in (2019) 418 ITR 315 (SC) held as under: 2. We have perused the review petition and find that the tax effect in this case is above Rs.1 crore, that is, Rs.6,59,27,298/-. Ordinarily, therefore, we would have recalled our order dated 17th September, 2018, since the order was passed only on the basis that the tax effect in this case is less than Rs.1 crore. 3. However,…

Pinky Agarwal, Kolkata vs. ACIT, CC-3(1), Kolkata

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

ITA 984/KOL/2018[2014-15]Status: DisposedITAT Kolkata14 Jul 2023AY 2014-15

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 143(2)Section 250

…material gathered based on any enquiry under section 143(2) for the assessment where assessment is made u/s 143(3) failing which makes the assessment is void ab initio. iv) The Hon'ble Supreme Court in the case of CIT vs. Odeon Builders Private Limited [2019] 418 ITR 315 (SC) has held that Addition or disallowance cannot be made solely on third-party information without independently subjecting it to further verification by ld. AO. v) The Appellant relies on the decision of the Chennai Bench of the Tribunal in the case of Smt. Vandana Jain & Ors. Vs. ITO in ITA Nos. 1903 & 1904/Chny/2019 Order dated 31.03.2022 wh…