Das Friends Builders Pvt. Ltd. v. Deputy Commissioner of Income Tax

M/S. Global Cricket Corporation Pte. Ltd., Mumbai vs. DDIT It-3(1), Mumbai

Appeal of the Revenue is dismissed, and cross-objection by the Assessee are disposed off as infructuous

…t. The nature of receipts are same in both the years i.e. A.Y. 2002-03 and A.Y. 2003-04. What is applicable for A.Y. 2002-03 is equally applicable for A.Y. 2003-04. Hence, there is no guess work involved. In view of this, the case law relied by the appellant (280 ITR 77) is not applicable to the facts of this case. Further, in this case, no assessment u/s. 143(3) was not completed earlier for A.Y. 2003-04. The return was only processed u/s. 143(1). In view of this, the assessment can be re- opened even if there is no failure on the part of the appellant to disclose all material facts.” 10.8. We have considered th…

M/S. Global Cricket Corporation Pte. Ltd., Mumbai vs. ADIT (Int. Taxation) - 3(1), Mumbai

Appeal of the Revenue is dismissed, and cross-objection by the Assessee are disposed off as infructuous

…t. The nature of receipts are same in both the years i.e. A.Y. 2002-03 and A.Y. 2003-04. What is applicable for A.Y. 2002-03 is equally applicable for A.Y. 2003-04. Hence, there is no guess work involved. In view of this, the case law relied by the appellant (280 ITR 77) is not applicable to the facts of this case. Further, in this case, no assessment u/s. 143(3) was not completed earlier for A.Y. 2003-04. The return was only processed u/s. 143(1). In view of this, the assessment can be re- opened even if there is no failure on the part of the appellant to disclose all material facts.” 10.8. We have considered th…

ADIT (It)-3(1), Mumbai vs. M/S. Global Cricket Corporation Pte. Ltd., Mumbai

Appeal of the Revenue is dismissed, and cross-objection by the Assessee are disposed off as infructuous

…t. The nature of receipts are same in both the years i.e. A.Y. 2002-03 and A.Y. 2003-04. What is applicable for A.Y. 2002-03 is equally applicable for A.Y. 2003-04. Hence, there is no guess work involved. In view of this, the case law relied by the appellant (280 ITR 77) is not applicable to the facts of this case. Further, in this case, no assessment u/s. 143(3) was not completed earlier for A.Y. 2003-04. The return was only processed u/s. 143(1). In view of this, the assessment can be re- opened even if there is no failure on the part of the appellant to disclose all material facts.” 10.8. We have considered th…

Time Media & Entertainment LLP (Earlier Time Media & Entertainment Private Limited), Mumbai vs. Income Tax Officer 16(1)(5), Mumbai

In the result, the appeal of the assessee in ITA no

Bench: Shri Sandeep Gosain & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6534/Mum/2017 (नििाारण वर्ा / Assessment Year: 2010-11) बिाम/ Time Media & Income Tax Officer- Entertainment Llp (Earlier 16(1)(5) Time Media & R.No. 439, 4 Th Floor, V. Entertainment Private Aayakar Bhavan, Ltd.) M.K Marg, 104, Rachna, V.P Road, Mumbai-400020 Vile Parle (W), Mumbai-400056 स्थायी ऱेखा सं./ Pan: Aaact1581C (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri. Reepal G. Tralshawala Revenue By: Shri. D.G. Pansari (Dr) सुनवाई की तारीख /Date Of Hearing : 28.03.2019 घोषणा की तारीख /Date Of Pronouncement : 18.06.2019 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Assessee, Being Ita No. 6534/Mum/2017, Is Directed Against Appellate Order Dated 31.07.2017, Passed By Learned Commissioner Of Income Tax (Appeals)-4, Mumbai (Hereinafter Called “The Cit(A)”) In Appeal No. Cit(A)-4/It-89/Ito-16(1)(5)/2016-17, For Assessment Year 2010-11, The Appellate Proceedings Had Arisen Before Learned Cit(A) From The Assessment Order Dated 30.03.2016 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 143(3) R.W.S. 147 Of The Income-Tax Act, 1961 (Hereinafter Called “The Act”) For Ay 2010-11. I.T.A. No.6534/Mum/2017

…s was merely a reason to suspect and not a reason to believe. In the case before us, the material pertained to the assessment year in question itself. 33. Decision of the Allahabad High Court in Dass Friends Builders (P.) Ltd. v. Dy. CIT [2006] 153 Taxman 282/280 ITR 77 does not support the petitioner's case. The Allahabad High Court set aside the re-opening as rejection of the account books for the assessment year 1996-97 was being made a basis to determine the profit percentage for the assessment year 1995-96 without there being any material for the relevant assessment year. 34. Mrs. Suri relied upon the follow…