Export Credit Guarantee Corporation of India Ltd. v. Addl. CIT

350 ITR 651High Court2013#1382 most cited

What is Export Credit Guarantee Corporation of India Ltd. v. Addl. CIT authority for?

For reopening an assessment, the Assessing Officer needs a reason to believe that income has escaped assessment, supported by tangible material that is not illusory or conjectural; conclusive proof of escaped income is not required at this stage. Even if the assessee made full disclosure, a complete failure by the Assessing Officer to apply mind during the original assessment can constitute tangible material for reopening.

83

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2026.

Also referred to as

Export Credit Guarantee Corporation v. Addl. CIT · Section 147 reopening · Section 148 reassessment · reason to believe · tangible material · escaped income · conclusive proof not required · Assessing Officer failure to apply mind · mere change of opinion doctrine · reopening assessment test

Also reported as

30 Taxmann.com 211228 Taxmann 28259 CTR 465

Sections most often in play

Section 143(3)Section 147Section 148Section 10(38)Section 115JBSection 14ASection 195Section 37

Issues it is cited on

section 55anav methodfresh tangible materialsection 13(2)dcf methodwithin four yearssection 114approval under section 151full and true disclosurematerial facts necessary for assessmentmere change of opinionsection 56(2)(viib)

Judgments citing Export Credit Guarantee Corporation of India Ltd. v. Addl. CIT

ACIT 4 (3)(1), Mumbai vs. Kotak Securities Ltd., Mumbai

Appeal is dismissed

ITA 7357/MUM/2019[2007-08]Status: DisposedITAT Mumbai20 May 2022AY 2007-08
For Appellant: Shri Farrokh IraniFor Respondent: Smt. Neelam Shukla
Section 143(3)Section 147Section 148Section 250Section 73

…t. She further submitted that in case the contention of the Assessee is accepted then the same would defeat the very purpose of Section 147 of the Act. She placed reliance on the following judgments – Export Credit Guarantee Corporation of India Ltd. Vs ACIT: 350 ITR 651 (Bom), Eleganza Jewellery Ltd. Vs Commissioner of Income Tax: 364 ITR 232 and CIT Vs Usha International Ltd: 348 ITR 485. 11. In rejoinder, the Ld. Counsel for the Assessee submitted that the reasons recorded for reopening assessment cannot be supplemented. The submissions made by the Ld. Departmental Representative go beyond the reasons recorded…

Arvind Hanjarimal Jain, Mumbai vs. Asst CIT 31 (2), Mumbai

In the result, all the appeals filed by the assessee are allowed

ITA 270/MUM/2020[2012-13]Status: DisposedITAT Mumbai29 Mar 2022AY 2012-13

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

For Appellant: Shri Jain DixitFor Respondent: Shri Mehul Jain
Section 132Section 133(6)Section 139Section 143Section 143(2)Section 143(3)Section 148Section 154

…nt notice is issued, in the case of OPG Metals & Finsec Ltd. vs. CIT & Anr. (2013) 358 ITR 144 (Delhi) by the Hon'ble Delhi High Court and the Hon'ble Bombay High Court in the case of Export Credit Guarantee Corporation Of India Ltd. vs. Additional CIT (2013) 350 ITR 651. In the present case, the AO has not given any finding on the issue of the loans in the original assessment and new facts have emerged subsequent to the assessment u/s 143(3) of the Act. 6.3.9 It has also been held by the Hon'ble High Court of Bombay in the case of Dr. Amin's Pathology Laboratory vs. P.N. Prasad, Joint CIT & Ors. (2001) 252 ITR 6…

Arvind Hanjarimal Jain, Mumbai vs. Asst CIT 31 (2), Mumbai

In the result, all the appeals filed by the assessee are allowed

ITA 269/MUM/2020[2011-12]Status: DisposedITAT Mumbai29 Mar 2022AY 2011-12

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

For Appellant: Shri Jain DixitFor Respondent: Shri Mehul Jain
Section 132Section 133(6)Section 139Section 143Section 143(2)Section 143(3)Section 148Section 154

…nt notice is issued, in the case of OPG Metals & Finsec Ltd. vs. CIT & Anr. (2013) 358 ITR 144 (Delhi) by the Hon'ble Delhi High Court and the Hon'ble Bombay High Court in the case of Export Credit Guarantee Corporation Of India Ltd. vs. Additional CIT (2013) 350 ITR 651. In the present case, the AO has not given any finding on the issue of the loans in the original assessment and new facts have emerged subsequent to the assessment u/s 143(3) of the Act. 6.3.9 It has also been held by the Hon'ble High Court of Bombay in the case of Dr. Amin's Pathology Laboratory vs. P.N. Prasad, Joint CIT & Ors. (2001) 252 ITR 6…

Arvind Hanjarimal Jain, Mumbai vs. Asst CIT 31 (2), Mumbai

In the result, all the appeals filed by the assessee are allowed

ITA 268/MUM/2020[2010-11]Status: DisposedITAT Mumbai29 Mar 2022AY 2010-11

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

For Appellant: Shri Jain DixitFor Respondent: Shri Mehul Jain
Section 132Section 133(6)Section 139Section 143Section 143(2)Section 143(3)Section 148Section 154

…nt notice is issued, in the case of OPG Metals & Finsec Ltd. vs. CIT & Anr. (2013) 358 ITR 144 (Delhi) by the Hon'ble Delhi High Court and the Hon'ble Bombay High Court in the case of Export Credit Guarantee Corporation Of India Ltd. vs. Additional CIT (2013) 350 ITR 651. In the present case, the AO has not given any finding on the issue of the loans in the original assessment and new facts have emerged subsequent to the assessment u/s 143(3) of the Act. 6.3.9 It has also been held by the Hon'ble High Court of Bombay in the case of Dr. Amin's Pathology Laboratory vs. P.N. Prasad, Joint CIT & Ors. (2001) 252 ITR 6…

Arvind Hanjarimal Jain, Mumbai vs. Asst CIT 31 (2), Mumbai

In the result, all the appeals filed by the assessee are allowed

ITA 267/MUM/2020[2009-10]Status: DisposedITAT Mumbai29 Mar 2022AY 2009-10

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

For Appellant: Shri Jain DixitFor Respondent: Shri Mehul Jain
Section 132Section 133(6)Section 139Section 143Section 143(2)Section 143(3)Section 148Section 154

…nt notice is issued, in the case of OPG Metals & Finsec Ltd. vs. CIT & Anr. (2013) 358 ITR 144 (Delhi) by the Hon'ble Delhi High Court and the Hon'ble Bombay High Court in the case of Export Credit Guarantee Corporation Of India Ltd. vs. Additional CIT (2013) 350 ITR 651. In the present case, the AO has not given any finding on the issue of the loans in the original assessment and new facts have emerged subsequent to the assessment u/s 143(3) of the Act. 6.3.9 It has also been held by the Hon'ble High Court of Bombay in the case of Dr. Amin's Pathology Laboratory vs. P.N. Prasad, Joint CIT & Ors. (2001) 252 ITR 6…

Indian Rare Earths Ltd., Mumbai vs. DCIT, Cir. 1 (2)(1), Mumbai

In the result, the appeal is allowed in the terms indicated above

ITA 224/MUM/2019[2010-11]Status: DisposedITAT Mumbai02 Nov 2021AY 2010-11
Section 143(3)Section 147Section 148

…on in respect of provisions was qualified in the noted to accounts that it was made in accordance with the RBI guidelines. Thus, in my considered opinion, the facts of this case is more like the case of i) Export Credit Guarantee Corporation vs Additional CIT 350 ITR 651 where in the AO had overlooked/ignored a particular claim and ii) the case of Kalyanji Mavji & Co. 102 ITR 287 (SC) where the case was reopened on the basis of material already on record. In the Assessment year: 2010-11 Page 7 of 10 present case, the AO, after going minutely through the details of the other expenses, was of prima facie view that…

Joshi Technologies International Inc., Ahmedabad vs. The Asstt. DIT, (Intl. Taxn.), Ahmedabad

In the result, the appeal of the assessee is partly allowed

ITA 2388/AHD/2015[2004-05]Status: DisposedITAT Ahmedabad25 Oct 2021AY 2004-05

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita Nos.2388-2389/Ahd/2015 िनधा"रण वष"/Asstt. Years: 2004-2005 & 2006-07 Joshi Technologies International Inc., A.D.I.T(International Prahaladnagar Garden, Vs. Tax), 701 Parshwanath E Square, Ahmedabad. Near Titanium, Building Satellite, Ahmedabad-380015. Pan: Aaacj9592P

For Appellant: Shri Yogesh Shah, A.RFor Respondent: Shri Mohd. Usman, CIT.D.R
Section 143(3)Section 147Section 234BSection 250Section 42

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ D’’ BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER And Ms. MADHUMITA ROY, JUDICIAL MEMBER आयकर अपील सं./ITA Nos.2388-2389/AHD/2015 िनधा"रण वष"/Asstt. Years: 2004-2005 & 2006-07 Joshi Technologies International Inc., A.D.I.T(International Prahaladnagar Garden, Vs. Tax), 701 Parshwanath E Square, Ahmedabad. Near Titanium, Building Satellite, Ahmedabad-380015. PAN: AAACJ9592P And आयकर अपील सं./ITA No.2258/AHD/2015 िनधा"रण वष"/Asstt. Year: 2006-07 D.C.I.T(International Taxation…

Mrf Limited, Chennai vs. ACIT Ltu 2(I/C), Chennai

In the result, the appeal filed by the assessee is allowed

ITA 1175/CHNY/2019[2009-10]Status: DisposedITAT Chennai28 Jan 2021AY 2009-10

Bench: Shri Mahavir Singhand Shri G. Manjunathaआयकर अपील सं./Ita No.: 1175/Chny/2019 िनधा"रण वष" / Assessment Year: 2009-10 M/S. Mrf Limited, The Acit, New No.114, Greams Road, V. Large Tax Payer Unit-2(I/C), Chennai – 600 006. Chennai. Pan: Aaacm4154G (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Vikram Vijayaraghavan, Advocate ""यथ" क" ओर से/Respondent By : Shri Suresh Periasamy,Jcit सुनवाई क" तार"ख/Date Of Hearing : 30.12.2020 घोषणा क" तार"ख/Date Of Pronouncement : 28.01.2021

For Appellant: Shri Vikram Vijayaraghavan, AdvocateFor Respondent: Shri Suresh Periasamy,JCIT
Section 143(3)Section 147Section 148Section 80JSection 8O

…eassessment proceedings. 5.3.13 On similar facts, it has been held judicially that the reopening of assessment is valid under such circumstances in the following cases: “The Bombay High Court in the case of Export Credit Guarantee corporation of India Ltd., 350 ITR 651 held that failure of AO to apply his mind during the original assessment proceedings to what is on which assessment is sought to be reopened would form tangible materials and reasons to believe that income escaped assessment. The ITAT, Koikata in the case of Som Dutt Builders P. Ltd., 98 lTD 78 held that the change of opinion only comes to the re…

Medley Pharmaceuticals Ltd., Mumbai vs. Dy.C.I.T., Cent.Cir.10(2)(2), Mumbai

The appeal of the assessee is partly allowed

ITA 2344/MUM/2018[2012-13]Status: DisposedITAT Mumbai22 Jul 2020AY 2012-13

Bench: Shri G. Manjunatha & Shri Ravish Soodm/S Medley Pharmaceuticals Ltd. Dy. Commissioner Of Income D-2, Medley Houses, 16Th Road, Tax-10(2)(2), Vs. Midc Area, Andheri (East), Mumbai Mumbai – 400 093 Pan – Aaacm2764J (Appellant) (Respondent) Medley Pharmaceuticals Ltd. Dy. Commissioner Of Income Tax, D-2, Medley House, 16Th Road, Central Circle – 44, Vs. Midc Area, Andheri (East), Aayakar Bhavan, M.K. Road, Mumbai Mumbai Pan – Aaacm2764J (Appellant) (Respondent)

For Appellant: Shri Prakash Jothwani, A.RFor Respondent: Shri. H.N. Singh, D.R
Section 143(3)Section 147

…aforesaid observations the CIT(A) had relied on the judgments of the Hon‟ble High Court of Bombay in the case of (i) Debhashu Services Pvt. Ltd Vs. DCIT (2014) 270 CTR 0036 (Bom); and (ii) Export Credit Guarantee Corporation of India Ltd Vs. Addl. CIT (2013) 350 ITR 651 (Bom). As regards the contentions that were advanced by the assessee to impress upon the CIT(A) that the sales promotion expenses aggregating to Rs.6,25,53,800/- were rightly claimed as an allowable deduction under Sec.37(1) of the Act, the same did not find favour with him. Observing, that the expenses incurred by the assessee towards providing…

Harshvardhan Constructions, Mumbai vs. ITO 23(1)(5), Mumbai

ITA 5225/MUM/2017[2011-12]Status: DisposedITAT Mumbai09 Jul 2020AY 2011-12

Bench: Shri M. Balaganesh & Shri Ravish Soodharshvardhan Constructions Income Tax Officer 11, Happy Home, 244 Waterfield Road; Ward 23(1)(5), 1St Floor, Vs. Bandra West, Mumbai – 400 050. Matru Mandir, Tardeo Road, Mumbai – 400 007. Pan– Aadfh6590D (Appellant) (Respondent) Income Tax Officer Vs. Harshvardhan Construvctions Ward 23(1)(5), 1St Floor , 11, Happy Home, 244 Waterfield Road; Matru Mandir, Tardeo Road, Bandra West, Mumbai – 400 050. Mumbai – 400 007. Pan– Aadfh6590D Harshvardhan Constructions Income Tax Officer 11, Happy Home, 244 Waterfield Road; Ward 23(1)(5), 1St Floor, Vs. Bandra West, Mumbai – 400 050. Matru Mandir, Tardeo Road, Mumbai – 400 007. Pan– Aadfh6590D

For Appellant: Shri Nitesh Joshi, A.RFor Respondent: Shri S.C Tiwari, CIT D.R
Section 143(3)Section 147Section 80I

…sment of the assessee by taking recourse to Sec. 147 of the Act. In support of his aforesaid claim the ld. D.R had relied on the judgment of the Hon‘ble High Court of Bombay in the case of Export Credit Guarantee Corporation of India Ltd. Vs. Addl. CIT (2013) 350 ITR 651 (Bom). Also support was drawn from the judgments of the Harshvardhan Constructions Vs. ITO, 23(1)(5), Mumbai – ITA No.5225/Mum/2017 & ITA No. 4730/Mum/2016 – A.Y 2011-12 & 2012-13 20 ITO, Ward 23(1)(5), Mumbai Vs. Harshvardhan Constructions – ITA No. 5912/Mum/2017, ITA No. 5523/Mum/2016 & ITA No. 5913/Mum/2017 A.Y 2011-12, A.Y 2012-13 & A.Y 2013-…

ITO 23(1)(5), Mumbai vs. Harshvardhan Constructions, Mumbai

ITA 5912/MUM/2017[2011-12]Status: DisposedITAT Mumbai09 Jul 2020AY 2011-12

Bench: Shri M. Balaganesh & Shri Ravish Soodharshvardhan Constructions Income Tax Officer 11, Happy Home, 244 Waterfield Road; Ward 23(1)(5), 1St Floor, Vs. Bandra West, Mumbai – 400 050. Matru Mandir, Tardeo Road, Mumbai – 400 007. Pan– Aadfh6590D (Appellant) (Respondent) Income Tax Officer Vs. Harshvardhan Construvctions Ward 23(1)(5), 1St Floor , 11, Happy Home, 244 Waterfield Road; Matru Mandir, Tardeo Road, Bandra West, Mumbai – 400 050. Mumbai – 400 007. Pan– Aadfh6590D Harshvardhan Constructions Income Tax Officer 11, Happy Home, 244 Waterfield Road; Ward 23(1)(5), 1St Floor, Vs. Bandra West, Mumbai – 400 050. Matru Mandir, Tardeo Road, Mumbai – 400 007. Pan– Aadfh6590D

For Appellant: Shri Nitesh Joshi, A.RFor Respondent: Shri S.C Tiwari, CIT D.R
Section 143(3)Section 147Section 80I

…sment of the assessee by taking recourse to Sec. 147 of the Act. In support of his aforesaid claim the ld. D.R had relied on the judgment of the Hon‘ble High Court of Bombay in the case of Export Credit Guarantee Corporation of India Ltd. Vs. Addl. CIT (2013) 350 ITR 651 (Bom). Also support was drawn from the judgments of the Harshvardhan Constructions Vs. ITO, 23(1)(5), Mumbai – ITA No.5225/Mum/2017 & ITA No. 4730/Mum/2016 – A.Y 2011-12 & 2012-13 20 ITO, Ward 23(1)(5), Mumbai Vs. Harshvardhan Constructions – ITA No. 5912/Mum/2017, ITA No. 5523/Mum/2016 & ITA No. 5913/Mum/2017 A.Y 2011-12, A.Y 2012-13 & A.Y 2013-…

Radix Tie-Up Pvt. Ltd., Kolkata vs. I.T.O., Ward-11(2), Kolkata

Appeal is allowed

ITA 2404/KOL/2019[2015-16]Status: DisposedITAT Kolkata14 Feb 2020AY 2015-16

Bench: Sri S. S. Godara] आयकर अपीलसं./I.T.A No.2404/Kol/2019 ("नधा"रण वष" / Assessment Year: 2010-11) Radix Tie-Up Pvt. Ltd. Vs. Ito, Ward-11(2), Kolkata 184/A, Regent Colony, Tollygunge, Kolkata – 700001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaecr1237M (Appellant) .. (Respondent) Appellant By : Shri S. M. Surana, Advocate Respondent By : Smt. Ranu Biswas, Addl. Cit- Sr. Dr सुनवाई क" तार"ख/ Date Of Hearing : 27/01/2020 घोषणा क" तार"ख/Date Of Pronouncement : 14/02/2020 आदेश / O R D E R Per Shri S. S. Godara: This Assessee’S Appeal For Assessment Year 2010-11 Arises Against The Commissioner Of Income Tax (A) - 4, Kolkata’S Order Dated 10.05.2019 Passed In Case No.791/Cit(A)-4/16-17 Involving Proceedings U/S 147 Of The Income Tax Act, 1961 (In Short ‘The Act’). Heard Both The Parties. Case File Perused. 2. For The Reasons Stated In Assessee’S Condonation Petition Dated 27.01.20 Explaining Five Days’ Delay To Be Attributable To Various Procedural Aspects & Compilation Of Necessary Records & On Account Of No Objection From The Revenue Side, I Condone The Impugned Delay Of Five Days In Filing Of The Instant Appeal & Proceed To Adjudicate The Same On Merits.

For Appellant: Shri S. M. Surana, AdvocateFor Respondent: Smt. Ranu Biswas, Addl. CIT- Sr. DR
Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH KOLKATA [Before Sri S. S. Godara, Judicial Member] आयकर अपीलसं./I.T.A No.2404/Kol/2019 ("नधा"रण वष" / Assessment Year: 2010-11) Radix Tie-up Pvt. Ltd. Vs. ITO, Ward-11(2), Kolkata 184/A, Regent Colony, Tollygunge, Kolkata – 700001. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAECR1237M (Appellant) .. (Respondent) Appellant by : Shri S. M. Surana, Advocate Respondent by : Smt. Ranu Biswas, Addl. CIT- Sr. DR सुनवाई क" तार"ख/ Date of Hearing : 27/01/2020 घोषणा क" तार"ख/Date of Pronouncement : 14/02/2020 आदेश / O R D E R Per Shri S. S. Godara: This assessee’s appeal for asses…

ITO-15(3)(1), Mumbai vs. Techedge Air Engineering Pvt. Ltd, Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 37/MUM/2019[2010-11]Status: DisposedITAT Mumbai29 Jan 2020AY 2010-11

Bench: Shri Saktijit Dey & Shri Rajesh Kumarassessment Year: 2010-11

For Appellant: R. Bhoopati, CIT-DRFor Respondent: None
Section 143(1)Section 143(3)Section 148

…ponding to the bogus purchases and therefore presumed that the assessee has made purchases from the grey market at lower rates and after relying the decision of Hon’ble jurisdictional High Court in the case of Export Credit Guarantee Corporation of India Ltd. 350 ITR 651(Bombay) and Ram Bahadur Thakur Ltd., 261 ITR 390 treated the purchases as non genuine and added the same to the income of the assessee by making an addition of Rs.26,43,839/- by framing assessment u/s 143(3) r.w.s. 147. 4. In the appellate proceedings, the ld. CIT(A) partly allowed the appeal of the assessee by restricting the addition to 25% of…

Deputy Commissioner of Income Tax (Circle) - 6(1)(1), Mumbai vs. M/S. Agarwal Textiles Industries P. Ltd., Mumbai

Accordingly, grounds raised by the revenue stands dismissed

ITA 5298/MUM/2017[2009-10]Status: DisposedITAT Mumbai22 Jan 2020AY 2009-10

Bench: Shri Mahavir Prasad, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 5298/Mum/2017 (निर्धारणवर्ा / Assessment Year: 2009-10) Dcit Cir 6(1)(1), M/S Agarwal Textiles R. No. 563, Industries Pvt. Ltd. Aayakar Bhavan, Suit No. 226 Bussa बिधम/ M. K. Road, Industrial Premises Vs. Mumbai-400 020 Century Bazar Lane, Prabhadevi, Mumbai- 400 025 स्थायीलेखासं./जीआइआरसं./Pan No. Aaaca3872F (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : & C.O. No. 176/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2009-10) M/S Agarwal Textiles Dcit Cir 6(1)(1), R. No. 563, Industries Pvt. Ltd. Aayakar Bhavan, Suit No. 226 Bussa बिधम/ M. K. Road, Industrial Premises Vs. Mumbai-400 020 Century Bazar Lane, Prabhadevi, Mumbai- 400 025 (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Shri Anandi Varma, Dr प्रत्यथीकीओरसे/Respondentby : Shri Mandar Vaidya, Ar

For Appellant: Shri Anandi Varma, DRFor Respondent: Shri Mandar Vaidya, AR
Section 147

…in response to notice issued u/s 142(1) and he submitted that assessee has not filed any relevant information before the AO on such loss. In this respect, he relied upon the following judgments:- i) Export Credit Guarantee Corp of India Ltd. Vrs. ACIT (2013) 350 ITR 651 (Bom) ii) Usha Inttl. Ltd. Vrs. DCIT (2015) 153 ITD 558 (Del) iii) Rollatainess Ltd. vrs. ACIT (2015) 173 TTJ (Del) 13 I.T.A. No. 5298/Mum/2017 & CO 176/Mum/2019 M/s Agarwal Textiles Industries Pvt. Ltd. iv) Greater Mohali Area Development Authority vrs. DCIT (2018) 93 taxman.com 441 (P & H) v) Ajai Verma vrs. CIT & Anr. (2008) 304 ITR 0030…

Empee Holdings Ltd., Chennai vs. DCIT, Chennai

ITA 1503/CHNY/2014[2005-06]Status: DisposedITAT Chennai07 Nov 2019AY 2005-06

Bench: Shri George Mathan & Shri Ramit Kochar

Section 143(3)Section 147Section 148Section 2(22)(e)

…ce in the material for the purpose of initiation and that required for successfully completing a reassessment.” 6.7 The decision of Hon’ble Bombay High Court in the case of Export Credit Guarantee Corporation of India Limited v. Addl. CIT reported in (2013) 350 ITR 651(Bom) is also relevant. 6.8 The assessee has relied upon decision of Hon’ble Madras High Court in the case of Tanmac India(supra) , this case was decided by Hon’ble jurisdictional High Court on facts of that case which are distinguishable as to present case before us , as in that case return of income was processed u/s 143(1)(a) in the year 199…

Sterling Jewels Pvt. Ltd., Mumbai vs. ACIT 5(3)(2), Mumbai

In the result, appeal filed by the assessee for AY 2009-10 is dismissed

ITA 6154/MUM/2016[2009-10]Status: DisposedITAT Mumbai03 Oct 2019AY 2009-10

Bench: Shri G. Manjunatha & Shri Ram Lal Negiita No.6154, 6155, 6156, 6157 & 6158/Mum/2016 (Assessment Years: 2009-10, 2010-11, 2011-12, 2012-13 & 2013-14) Sterling Jewels Pvt.Ltd. Vs. Acit-5(3)(2) 208, A-Z Industrial Estate 460, Aaykar Bhawan Ganpatrao Kadam Marg M.K.Road, Churchgate Lower Parel (W) Mumbai-400 020 Mumbai-400 013 Pan/Gir No.Aajcs3316D (Appellant) .. (Respondent)

Section 143(1)Section 143(3)Section 147Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “G”, BENCH MUMBAI BEFORE SHRI G. MANJUNATHA, ACCOUNTANT MEMBER & SHRI RAM LAL NEGI, JUDICIAL MEMBER ITA No.6154, 6155, 6156, 6157 & 6158/Mum/2016 (Assessment Years: 2009-10, 2010-11, 2011-12, 2012-13 & 2013-14) Sterling Jewels Pvt.Ltd. Vs. ACIT-5(3)(2) 208, A-Z Industrial Estate 460, Aaykar Bhawan Ganpatrao Kadam Marg M.K.Road, Churchgate Lower Parel (W) Mumbai-400 020 Mumbai-400 013 PAN/GIR No.AAJCS3316D (Appellant) .. (Respondent) Assessee by K.A.Vaidyalingan Revenue by V.Vinod Kumar Date of Hearing 03/10/2019 Date of Pronouncement 03/10/2019 आदेश / O R D E R आदेश आ…

ACIT Central Circle, Salem vs. Thriveni Earthmovers Pvt. Ltd., Salem

In the result, the appeal filed by the Revenue in ITA

ITA 2283/CHNY/2018[2014-15]Status: DisposedITAT Chennai25 Sept 2019AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. M. Srinivasa Rao, IRS, CIT
Section 143(3)Section 148

…so placed reliance on the judgments of Hon’ble Gujarat High Court in the cases of Purviben Snehalbhai Panchhigar , 409 ITR 124 and Atul Ratilal Makadia, 94 taxmann.com 435 and Bombay High Court in the case of Export Credit Guarantee Corporation of India Ltd, 350 ITR 651. 9. Even on merits of the additions, ld. CIT (Departmental Representative) made detailed submissions. Ld. CIT (DR) further contended that ld .Commissioner of Income Tax (Appeals) ought not have granted relief on technicalities on the grounds of reopening as well as merits of the addition. ITA Nos.2280-83 /2018 :- 8 -: 10. On the other hand,…

ACIT Central Circle, Salem vs. Thriveni Earthmovers Pvt. Ltd., Salem

In the result, the appeal filed by the Revenue in ITA

ITA 2282/CHNY/2018[2013-14]Status: DisposedITAT Chennai25 Sept 2019AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. M. Srinivasa Rao, IRS, CIT
Section 143(3)Section 148

…so placed reliance on the judgments of Hon’ble Gujarat High Court in the cases of Purviben Snehalbhai Panchhigar , 409 ITR 124 and Atul Ratilal Makadia, 94 taxmann.com 435 and Bombay High Court in the case of Export Credit Guarantee Corporation of India Ltd, 350 ITR 651. 9. Even on merits of the additions, ld. CIT (Departmental Representative) made detailed submissions. Ld. CIT (DR) further contended that ld .Commissioner of Income Tax (Appeals) ought not have granted relief on technicalities on the grounds of reopening as well as merits of the addition. ITA Nos.2280-83 /2018 :- 8 -: 10. On the other hand,…

ACIT Central Circle, Salem vs. Thriveni Earthmovers Pvt. Ltd., Salem

In the result, the appeal filed by the Revenue in ITA

ITA 2281/CHNY/2018[2012-13]Status: DisposedITAT Chennai25 Sept 2019AY 2012-13

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. M. Srinivasa Rao, IRS, CIT
Section 143(3)Section 148

…so placed reliance on the judgments of Hon’ble Gujarat High Court in the cases of Purviben Snehalbhai Panchhigar , 409 ITR 124 and Atul Ratilal Makadia, 94 taxmann.com 435 and Bombay High Court in the case of Export Credit Guarantee Corporation of India Ltd, 350 ITR 651. 9. Even on merits of the additions, ld. CIT (Departmental Representative) made detailed submissions. Ld. CIT (DR) further contended that ld .Commissioner of Income Tax (Appeals) ought not have granted relief on technicalities on the grounds of reopening as well as merits of the addition. ITA Nos.2280-83 /2018 :- 8 -: 10. On the other hand,…

ACIT Central Circle, Salem vs. Thriveni Earthmovers Pvt. Ltd., Salem

In the result, the appeal filed by the Revenue in ITA

ITA 2280/CHNY/2018[2011-12]Status: DisposedITAT Chennai25 Sept 2019AY 2011-12

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. M. Srinivasa Rao, IRS, CIT
Section 143(3)Section 148

…so placed reliance on the judgments of Hon’ble Gujarat High Court in the cases of Purviben Snehalbhai Panchhigar , 409 ITR 124 and Atul Ratilal Makadia, 94 taxmann.com 435 and Bombay High Court in the case of Export Credit Guarantee Corporation of India Ltd, 350 ITR 651. 9. Even on merits of the additions, ld. CIT (Departmental Representative) made detailed submissions. Ld. CIT (DR) further contended that ld .Commissioner of Income Tax (Appeals) ought not have granted relief on technicalities on the grounds of reopening as well as merits of the addition. ITA Nos.2280-83 /2018 :- 8 -: 10. On the other hand,…