Ganga Properties v. ITO

118 ITR 447High Court1979#16537 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 1997 to 2022.

Judgments citing Ganga Properties v. ITO

Techno Tracom Pvt. Ltd., Kolkata vs. ACIT, Cir.1(2), Kolkata

In the result, the appeal of the assessee is allowed

ITA 205/KOL/2021[2009-10]Status: DisposedITAT Kolkata18 Apr 2022AY 2009-10

Bench: Shri A. T. Varkey, Jm & Shri Rajesh Kumar, Am]

Section 153ASection 263

…luation report did not form part of the record of proceedings, therefore, it could not be a valid basis for initiating an action u/s. 263 of the Act and for that relied on the decision of the Hon’ble Calcutta High Court in the case of Ganga Properties Vs. ITO 118 ITR 447, which was accepted by the Tribunal, and the order of the Ld. Pr. CIT u/s. 263 of the Act was set aside. On appeal by the revenue before the Hon’ble High Court the question of law (infra) was answered in favour of the assessee and the question of law framed was as under: “Whether, on the facts and in the circumstances of the case, the Appellate…

M/S. Long Life Realtors LLP, Mumbai vs. Pr. CIT -17, Mumbai

In the result, the appeal of the assessee is allowed

ITA 525/MUM/2021[2016-17]Status: DisposedITAT Mumbai05 Apr 2022AY 2016-17

Section 133(6)Section 142(1)Section 143(2)Section 263Section 35Section 35(1)(ii)

…raming of assessment and not subsequent materials / information that had come to the knowledge of the department. In this regard, we would like to place reliance on the decision of Hon‟ble Calcutta High Court in the case of Ganga Properties vs ITO reported in 118 ITR 447 (Cal) wherein it was held as under:- 9 M/s.Long Life Realtors LLP Held The word "record" had been used in section 263 in a context different from that in section 154. In section 263, the words "is erroneous" did not mean "has subsequently become erroneous". The Commissioner could only call for and examine the record of the proceeding which was…

Everest Industries Ltd, New Delhi vs. CIT -I, Thane

In the result, the appeal of the assessee is allowed, as above

ITA 532/MUM/2014[2010-11]Status: DisposedITAT Mumbai21 Aug 2019AY 2010-11

Bench: Shri G.S. Pannu & Shri Ram Lal Negi: A.Y : 2010-11

For Appellant: Shri Soumeh Adak &For Respondent: Shri A. Mohan (CIT)

Section 115JSection 143(3)Section 263

…Panyam Cements and Mineral Industries Ltd. vs. Addl. CIT (ITA no. 706/Hyd/2013) 2) Jolly Engineers and Contractors (P) Ltd vs. ITO (1982) 2 ITD 92 (Asr -ITAT) 3) Punjab Wool Syndicate vs. ITO (2012) 17 ITR 0439 (Chd. – ITAT) 4) Ganga Properties vs. ITO (1979) 118 ITR 447 (Kol) (HC) 5) Jai Kumar Kankaria vs. CIT (2001) 251 ITR 707 (Kol) (HC) It was also submitted that even if the ‘book profit’ is recomputed in terms of the directions of the Commissioner, the assessee will be entitled for MAT credit of equivalent amount which will be eligible for set-off in subsequent years, thereby resulting in neutralising of ta…

M/S Spml Infra Ltd., Kolkata vs. The PCIT, Kolkata-3, Kolkata

In the result the appeal of the assessee is dismissed

ITA 134/KOL/2016[2011-2012]Status: DisposedITAT Kolkata15 Jul 2016AY 2011-2012

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 134/Kol/2016 Assessment Year : 2011-12

For Appellant: Shri Sajjan Kumar Tulsiyan, AdvocateFor Respondent: Shri G.Mallikarjuna, CIT(DR)

Section 115JSection 143(3)Section 263Section 80

…to s. 263 including the amendment made with retrospective effect for amplifying the scope of the term ‘record’, did not accept the narrow interpretation of the word ‘record’ which had appealed to the Calcutta High Court in the case of Ganga Properties vs. ITO 118 ITR 447 (Cal) and the apex Court held as under : ". . . . The revisional power conferred on the CIT under s. 263 is of wide amplitude. It enables the CIT to call for and examine the record of any proceeding under the Act. It empowers the CIT to make or cause to be made such enquiry as he deems necessary in order to find out if any order passed by the AO…

Commr. of Income Tax, Bangalore vs. Shree Manjunatheawara Packing Products

C.A. No.-008467-008467 - 1997Supreme Court02 Dec 1997

For Respondent: SHREE MAN JUNATHESWARE, PACKING PRODUCTS & CAMPHOR WORKS

Section 263Section 263(1)

…will now refer to the decisions, which were relied upon by the learned counsel in support of the rival contentions with respect to the correct interpretation of the word "record". The Calcutta High Court in Ganga Properties vs. Income-tax Officer [(1979) 118 ITR 447], after observing that provision of section 263(1) of the Act has to be understood on its own language and in the context of the revisional jurisdiction of the Commissioner conferred by it and also the scheme of the Act, held as under:- "Whereas s. 263(1) of the Act uses the words "is erroneous" and not the wo…