CIT v. Orient Craft Ltd.

M/S. Vijay Power Generators Ltd., New Delhi vs. ACIT, New Delhi

In the result, the Appeal filed by the Assessee stand allowed

Bench: Shri H.S. Sidhu & Shri L.P. Sahui.T.A. No. 4086/Del/2013 A.Y. : 2004-05 M/S Vijay Power Generators Ltd., Vs. Acit, Circle 17(1), 5, Park End, (Opp.) Preet Vihar, New Delhi Metro Pillar No. 101, Vikas Marg, New Delhi – 11- 0902 (Pan: Aaacv0191N) (Appellant) (Appellant) (Appellant) (Appellant) (Respondent) (Respondent) (Respondent) (Respondent)

…, Delhi Bench decision dated 17.11.2015 passed in the case of Sh. Rakesh Bandhu vs. ITO in ITA No. 2586/Del/2014 (AY 2009-10). d) CIT vs. Kelvinator of India Limited 256 ITR 1 (Delhi) [FB] e) CIT vs. Kelvinator India 320 ITR 561 (SC) f) CIT vs. Orient Craft 354 ITR 536 6. On the other hand, Ld. DR relied upon the order of the Ld. CIT(A) and stated that the Ld. CIT(A) has passed a well reasoned order on the basis of the documentary evidence filed by the assessee as well as prevailing law. He further stated that Notice u/s. 148 has been issued after adopting the prescribed procedure under the law and with tangib…

Smt. Chaya Sinha, New Delhi vs. ACIT, Faridabad

In the result the appeal of the assessee is allowed

Bench: Shria.T.Varkey & Shri Prashant Maharishi

…made under the assumption with the land in question is falling within the specified number of kilometers, whereas the inspector’s report shows that the main land is about 11 kms from the Palwal-Tehsil. Hon’ble Delhi High Court in the case of Orient Craft Ltd 354 ITR 536 has held as under:- “10. We think that the point taken on behalf of the assessee that even an assessment made under section 143(1) of the Act can be reopened under section 147 only subject to fulfilment of the conditions precedent, which include the condition that the Assessing Officer must have "reason to believe" that income chargeable to tax…

ACIT Circle 16 (1) vs. Techspan India Ltd

Bench: Shri I.C. Sudhir & Shri Prashant Maharishi Assessment Year: 2000-01 Assistant Cit, Vs. M/S. Techspan India Ltd., Circle 16(1), 103- Ashoka Estate, New Delhi. 24-Barakhamba Road, New Delhi. (Pan: Aabct5650D) Cross-Obj. No. 157/Del/2008 ( In Ita No. 2655/Del/2007) Assessment Year: 2000-01 M/S. Techspan India Ltd., Vs. Assistant Cit, 103- Ashoka Estate, Circle 16(1), 24-Barakhamba Road, New Delhi. New Delhi. (Pan: Aabct5650D) (Appellant) (Respondent) Assessee By: Shri Cs Aggarwal, Sr. Adv. & R.P. Mall, Adv. Department By: Shri Anshu Prakash, Sr. Dr Date Of Hearing : 08 .12.2015 Date Of Pronouncement: 04 :03.2016 Order Per I.C. Sudhir:The Revenue Has Questioned First Appellate Order Basically On Two Grounds. Firstly, The Learned Cit(Appeals) Has Erred In Directing The Assessing Officer To Allow Deduction Under Section 10A Of The Income-Tax Act, 1961 & Secondly In Directing The Assessing Officer To Set Off The Loss Of Rs.1,18,99,508. 2 2. The Assessee On The Other Hand In Its Cross Objection Has Raised Several Objections Including The Action Of The Learned Cit(Appeals) In Upholding The Validity Of Initiation Of Proceedings Under Sec. 147 Of The Act (Objection Nos. 1 & 2). In Objection No.3, The Action Of The Learned Cit(Appeals) In Recording A Finding That Assessee Had Not Claimed Any Deduction Under Sec. 10A Of The Act Has Been Objected & In Objection No.4, It Has Been Pleaded That The Learned Cit(Appeals) Ought To Have Held That Loss Suffered By The Assessee Was Allowable Business Loss To Be Carried Forward By Recording A Further Finding That The Invoices Were Raised At Arm’S Length Price.

…28 (Del.). He contended that subsequent to the order dated 26.7.2008 when the return was processed under sec. 143(1) of the Act, no fresh material surfaced and thus in view of the judgment of Hon'ble Delhi High Court in the case of CIT vs. Orient Craft Ltd. – 354 ITR 356 (Del.) even otherwise the exemption of jurisdiction to frame assessment is untenable. 4.2 The Learned AR submitted further that even otherwise the assessee has got good case on the merits of the additions of the disallowance which has been deleted by the Learned CIT(Appeals) by passing a detailed order and the issue raised regarding eligibility o…

Sh. Suresh M. Bajaj, New Delhi vs. ITO, New Delhi

In the result, appeal of the assessee is allowed on legal grounds

Bench: Sri G.D. Agarwal, Hon’Blesri C.M.Gargita No. 7/Del./2013 : Asstt. Year : 2005-06

…nt to the reopening will not rescue an inherently defective reopening order from invalidity .” 8. At this stage, we also find it appropriate to consider preposition laid down by Hon’ble High Court of Delhi in the case of CIT vs. Orient Craft Ltd. reported as 354 ITR 536 (Del), as relied by the ld. AR, wherein it was held thus : “The argument of the revenue thatg an intimation cannot be equated to an assessment, relying upon certain observations of the Supreme Court in Rajesh Jhaveri (Supra) would also appear to be self-defeating, because if an “Intimation”is not an “assessment” then it can never be subjected to…

M/S. the Rama Co-Op L/C Society Ltd., Sonepat vs. ACIT, Sonepat

In the result, assessee’s appeals are allowed

Bench: Shri S.V. Mehrotra : & Ms. Suchitra Kamble :

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” NEW DELHI BEFORE SHRI S.V. MEHROTRA : ACCOUNTANT MEMBER AND Ms. SUCHITRA KAMBLE : JUDICIAL MEMBER ITA nos. 3914/Del/2014 Asstt. Yr: 2007-08 The Rama Co-op L/C Society Ltd., Vs. ACIT, Sonepat Circle, VPO Jagdishpur Distt. Sonepat. Sonepat. PAN: AAEFT 0984 G ITA nos. 3915/Del/2014 Asstt. Yr: 2007-08 The Farmana Co-op L/C Society Ltd., Vs. ACIT, Sonepat Circle, 980/31, Malik Colony, Sonepat. Sonepat. PAN: AAATT 4348 C ITA nos. 3916/Del/2014 Asstt. Yr: 2007-08 The Jai Baba Ganga Dass Vs. ACIT, Sonepat Circle, Co-op L/C Society Ltd., Sonepat. Sonepat. PAN: AAAAT 93…

DCIT, New Delhi vs. M/S. Dharampal Satyapal Ltd., Delhi

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

Bench: Shri A.T. Varkey & Shri Prashant Maharishi

…n filed by the Assessee. Therefore, factually, there was no new material that the AO came across so as to have "reasons to believe that the income had escaped assessment". (ii) The department's contention that the judgement in CIT vs. Orient Craft Ltd. (2013) 354 ITR 536 (Del) is contrary to the Full Bench verdict in CIT-VI v. Usha International Ltd. (2012) 348 ITR 485 and the issue should be referred to a larger Bench is not acceptable because the central issue examined in the decision of the Full Bench in Usha International Ltd. was as to what constituted a "change of opinion". The Court, therefore, does not co…

M/S. Dharampal Satyapal Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

Bench: Shri A.T. Varkey & Shri Prashant Maharishi

…n filed by the Assessee. Therefore, factually, there was no new material that the AO came across so as to have "reasons to believe that the income had escaped assessment". (ii) The department's contention that the judgement in CIT vs. Orient Craft Ltd. (2013) 354 ITR 536 (Del) is contrary to the Full Bench verdict in CIT-VI v. Usha International Ltd. (2012) 348 ITR 485 and the issue should be referred to a larger Bench is not acceptable because the central issue examined in the decision of the Full Bench in Usha International Ltd. was as to what constituted a "change of opinion". The Court, therefore, does not co…

ACIT, New Delhi vs. M/S. Nbcc Ltd., New Delhi

In the result CO 164/Del /2012 of the assessee is allowed and appeal of the revenue in ITA no 939/Del/2012 is dismissed

Bench: Shri H.S.Sidhu & Shri Prashant Maharishiacit, Nbcc Ltd., Circle-13(1), Nbcc House, Vs. Room No.406, Lodhi Road, C.R.Building, I.P. Estate, New Delhi New Delhi Pan:Aaacn3053B (Appellant) (Respondent) C.O. No.164/Del/2012 (In Ita No. 939/Del/2012) (Assessment Year: 2002-03) Nbcc Ltd., Acit, Nbcc House, Circle-13(1), Vs. Lodhi Road, Room No.406, New Delhi C.R.Building, I.P. Estate, Pan:Aaacn3053B New Delhi (Appellant) (Respondent) Revenue By : - Sh. Balwan Choudhary, Cit Dr Assessee By : Sh. Suresh Gupta, Ca Sh. Somil Aggarwal, Adv

…o loans and advances written off which should have been disallowed. In this also there is no reference of the new material coming to the possession of AO. Before us Ld AR has cited judgments of Honourable Delhi high court in case of CIT V Orient Craft Limited 354 ITR 546 and Madhukar Kholsa V ACIT 90 CCH 0013 to buttress the claim that in absence of new tangible material reopening cannot be initiated. Honourable Supreme court in 320 ITR 261 in CIT V Kelvinator of India limited has held as under:- “6. On going through the changes, quoted above, made to section 147 of the Act, we find that, prior to the Direct Tax…

E.I. Dupont Private Ltd., Gurgaon vs. ACIT, New Delhi

In the result appeal of the assessee is allowed

Bench: Sh. A.T.Varkey, Jm & Sh. Prashant Maharishi, Am A.Y. 2004-05

…ew material came into the possession of Assessing Officer, reopening is based on material already on record, it is not permitted. He relied on the decision of Hon’ble Delhi High Court in case of Madhukar Khosla v. ACIT 367 ITR 165 and CIT v. Orient Craft Ltd. 354 ITR 536. He further submitted that reopening has been done at the behest of audit party and therefore it is invalid. For this proposition he relied on the orders of Hon’ble Gujarat High Court in case of Raajratna Metal Industries Ltd. v. ACIT and Vodafone West Ltd. v. ACIT, Therefore, he submitted that 148 proceedings are not validly initiated and on thi…

DCIT, New Delhi vs. M/S E.I. Dupont India (P) Ltd., Gurgaon

In the result appeal of the assessee is allowed

Bench: Sh. A.T.Varkey, Jm & Sh. Prashant Maharishi, Am A.Y. 2004-05

…ew material came into the possession of Assessing Officer, reopening is based on material already on record, it is not permitted. He relied on the decision of Hon’ble Delhi High Court in case of Madhukar Khosla v. ACIT 367 ITR 165 and CIT v. Orient Craft Ltd. 354 ITR 536. He further submitted that reopening has been done at the behest of audit party and therefore it is invalid. For this proposition he relied on the orders of Hon’ble Gujarat High Court in case of Raajratna Metal Industries Ltd. v. ACIT and Vodafone West Ltd. v. ACIT, Therefore, he submitted that 148 proceedings are not validly initiated and on thi…

Sh. Rakesh Bandhu, Muzaffarnagar vs. ITO, Muzaffarnagar

In the result, the appeal filed by the Assessee stand allowed

Bench: Shri H.S. Sidhuay: 2009-10

…h the return of income. Therefore, the issuance of notice u/s. 148 of the I.T. Act is illegally bad in law and without jurisdiction, keeping in view of the various decisions referred by the Hon’ble Delhi High Court in the case of CIT vs. Orient Craft Ltd. 354 ITR 536 (Delhi) and CIT vs. Atul Kumar Swami 362 ITR 693 (Delhi). He has also filed the copy of these judgments with the Paper Book filed by the Assesse alongwith the relevant papers which the assessee has filed with the Paper Book containing pages 1 to 59. 7. Ld. DR relied upon the orders of the authorities below and requested that the appeal of the As…

Commissioner of Income Tax-Central-I vs. M/S. Indo Arab Air Services

…ITA Nos. 292 of 2015 & 299 of 2015 Page 1 of 14 $~ * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 292/2015 COMMISSIONER OF INCOME TAX-CENTRAL-I .... Appellant Through: Mr. Kamal Sawhney, Senior Standing Counsel. versus M/S. INDO ARAB AIR SERVICES ..... Respondent Through: Mr. Ajay Vohra, Senior Advocate with Ms. Roopali Gupta and Ms. Mehak Gupta, Advocates. + ITA 299/2015 PR. COMMISSIONER OF INCOME TAX (CENTRAL)-I .... Appellant Through: Mr. Kamal Sawhney, Senior Standing Counsel. versus R…