Fomento Resorts Hotels Ltd. v. ACIT

238 ITR 38Reported decision#23860 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 362,844 Indian tax judgments — from 2015 to 2025.

Sections most often in play

Section 142(1)Section 143(2)Section 144 Section 144B Section 147 Section 148 Section 250 Section 68

Judgments citing Fomento Resorts Hotels Ltd. v. ACIT

Lata Holding Private Limited, Goregaon vs. I.T.O., Ward-12(3)(1), Mumbai

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

ITA 1959/MUM/2025[2014-15]Status: DisposedITAT Mumbai17 Jun 2025AY 2014-15

Bench: Shri Sandeep Gosain, () & Shri Prabhash Shankar, ()

Section 143(2)Section 147Section 148Section 250Section 68Section 69C

…inding direction of Hon'ble Supreme Court in the case of GKN Driveshaft Ltd. (supra) and Bombay High Court decision in the case of Asian Paints Ltd. ITA No.1959/Mum/2025; A.Y. 2014-15 7 Lata Holdings Pvt. Ltd. (supra) and Fomento Resorts Hotels Ltd Vs. ACIT (238 ITR 38) (Bom). 11. Since the action of the AO to reopen the assessment is not legally sustainable and is thus held to be bad in law. Therefore, we allow this ground of appeal raised by the assessee. 12. Since, assessee has succeeded on the legal ground, therefore, the reassessment order passed pursuant to the reopening is consequently held to be null and…

Shree Raj Foundation, Mum vs. DDIT (E)-I(2), Mum

In the result, the appeal of the assessee is allowed

ITA 18/MUM/2023[2009-10]Status: DisposedITAT Mumbai18 Jul 2023AY 2009-10

Bench: Shri Aby T. Varkey, Jm & Shri Om Prakash Kant, Am आयकर अपील सं/ I.T.A. No.18/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2009-10) Shree Raj Foundation बिधम/ Ddit(E)-1(2) 201, 2Nd Floor, Krishna [Now Ito (Exem), Ward- Vs. Kunj, Vl Mehta Rd, Jvpd 2(3), Mumbai] Scheme, Vile Parle (W), Income Tax Office, Mumbai-400056. Mtnl Building, Peddar Road, Mumbai-400026. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aadts9658M (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Paresh Shaparia Revenue By: Shri Anil Kumar Das (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 30/06/2023 घोषणा की तारीख /Date Of Pronouncement: 18/07/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Foundation Against The Order Of The Ld. Commissioner Of Income Tax/Nfac, Delhi Dated 02.12.2022 For Assessment Year 2009-10. 2. At The Outset, The Ld. Ar Of The Assessee Has Challenged The Action Of The Ao Re-Opening The Assessment Of Ay 2009-10 U/S 147 Of The Income Tax Act, 1961 (Hereinafter “The Act”) Without Following The Binding Decision Of The Hon’Ble Supreme Court In The Case Of Gkn Driveshafts (India) Ltd. Vs. Ito (Sc) (259 Itr 19) & Jurisdictional High Court Decision In The Case Of Fomento Resorts Hotels Ltd Vs. Acit (238 Itr 38) (Bom) & Asian Paints Ltd. Vs. Dcit (2008) (296 Itr 90) (Bom). 3. The Facts Relevant To The Legal Issue Are That The Assessee Had Filed Its Return Of Income On 30.09.2009 Along With The Income & Expenditure Account, Balance-Sheet & Audit Report In Form No. 10B

For Appellant: Shri Paresh ShapariaFor Respondent: Shri Anil Kumar Das (Sr. AR)

Section 11Section 12ASection 143(3)Section 147Section 148

…, 1961 (hereinafter “the Act”) without following the binding decision of the Hon’ble Supreme Court in the case of GKN Driveshafts (India) Ltd. Vs. ITO (SC) (259 ITR 19) and Jurisdictional High Court decision in the case of Fomento Resorts Hotels Ltd Vs. ACIT (238 ITR 38) (Bom) and Asian Paints Ltd. Vs. DCIT (2008) (296 ITR 90) (Bom). 3. The facts relevant to the legal issue are that the assessee had filed its return of income on 30.09.2009 along with the income and expenditure account, balance-sheet and audit report in Form No. 10B 2 A.Y. 2009-10 Shree Raj Foundation declaring total income of Rs. Nil. The assess…

DCIT, New Delhi vs. M/S. Omaxe Buildhome (P) Ltd., New Delhi

ITA 5373/DEL/2013[2007-08]Status: DisposedITAT Delhi12 Nov 2015AY 2007-08

Bench: Shri I.C. Sudhir & Shri Laxmi Prasad Sahu Assessment Year : 2008-09 Deputy Cit, Vs. M/S. Omaxe Ltd., Central Circle-4, 7-Lsc, Omaxe House, New Delhi. Kalkaji, New Delhi. (Pan: Aaaco0171H) (Appellant) (Respondent) Assessment Year: 2008-09 M/S. Omaxe Ltd., Vs. Deputy Cit, 7-Lsc, Omaxe House, Central Circle-4, Kalkaji, New Delhi. New Delhi. (Pan: Aaaco0171H) (Appellant) (Respondent)

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Shri R.L. Meena, CIT(DR)

Section 10ISection 4Section 80I

…that the assessee made an alternative submission that to the extent of compliance of the built-up area under residential unit, pro-rata relief be given to the assessee. As far as this relief is concerned, in similar circumstances, in the decision reported in 238 ITR 38 H.P.T.D.C. v. UNION OF INDIA, the Himachal Pradesh High Court considered the possibility of granting the proportionate relief on pro-rata basis to the extent of compliance of the provisions. It is no doubt true that the Section does not provide any such working. Yet, this being a deduction provision and there being no such indication that the cond…