Garden Silk Mills Ltd. v. CIT

221 ITR 861High Court1996#7178 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2024.

Judgments citing Garden Silk Mills Ltd. v. CIT

HERO MOTOCORP LTD (AS SUCCESSOR OF HERO INVESTMENT P.LTD),NEW DELHI vs. DCIT, CIRCLE 11(1), NEW DELHI

The appeal is allowed

ITA 1053/DEL/2023[2011-12]Status: DisposedITAT Delhi24 Jul 2024AY 2011-12

Bench: Shri G.S. Pannu & Shri Anubhav Sharmaassessment Year: 2011-12

Section 143(3)

…. ACIT: 267 ITR 673(Bom.) 10. Orient Beverages Ltd. v. ITO: 208 ITR 509 (Cal.) 11. Peico Electronics & Electricals Ltd. v. DCIT: 210 ITR 991 (Cal.) 12. Kaira District Cooperative Milk Producers Union Ltd: 216 ITR 371 (Guj.) 13. Garden Silk Mills Ltd. v. DCIT: 222 ITR 27 (Guj.) CIT vs. Veer Overseas Ltd.: ITA No. 510 of 2009 (P&H.) 18. In the present case, admittedly the notice under section 148 was issued on 31.03.2018, i.e., after the expiry of period of four years from the end of the relevant assessment year. Thus the question to be examined is if there was any failure on part of appellant to disclose fully and…

ITO, WD.9(1), KOLKATA vs. M/S MAHARAJ VINCOM PVT. LTD., KOLKATA

ITA 35/KOL/2021[2009-10]Status: DisposedITAT Kolkata15 May 2024AY 2009-10

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.35/Kol/2021 Assessment Year: 2009-10 Ito, Ward-9(1), Kolkata……………….......................…...……………....Appellant Vs. M/S Maharaj Vincom Pvt. Ltd……............…..........................…..…..... Respondent 69, Jamunalal Bajaj Street, Kolkata- 700007. [Pan: Aafcm6496E] C.O. No.6/Kol/2023 (A/O I.T.A. No.35/Kol/2021) Assessment Year: 2009-10 M/S Maharaj Vincom Pvt. Ltd……............…..........................…....... Cross-Objector 69, Jamunalal Bajaj Street, Kolkata- 700007. [Pan: Aafcm6496E] Vs Ito, Ward-9(1), Kolkata …………..….......................…...……………....Respondent Appearances By: Shri Miraj D. Shah, Ar, Appeared On Behalf Of The Assessee. Shri Abhijit Kundu, Cit-Dr, Appeared On Behalf Of The Department. Date Of Concluding The Hearing : March 07, 2024 Date Of Pronouncing The Order : May 15, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: This Appeal By The Revenue & Corresponding Cross-Objection By The Assessee Have Been Preferred Against The Order Dated 08.09.2020 Of The Commissioner Of Income Tax (Appeals)-7, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’).

Section 143(1)Section 143(3)Section 147Section 250Section 263

…ourt prefers a different view [in this case that of the Gujarat High Court as in Gruh Finance Ltd. v. Jt. CIT [2000] 243 ITR 482, Praful Chunilal Patel v. M. J. Makwana, Asstt. CIT [1999] 236 ITR 832 (Guj.) and Garden Silk Mills Ltd. v. Dy. CIT (No. 1) [1996] 222 ITR 27 (Guj.). The Full Bench of this Court has taken into consideration both Praful Chunilal Patel's case (supra) as well as Garden Silk Mills Ltd. 's case (supra). In Kelvinator of India's Ltd. 's case (supra) the Full Bench had also I.T.A. No.35/Kol/2021 & C.O. No.6/Kol/2023 Assessment Year: 2009-10 M/s Maharaj Vincom Pvt. Ltd. analysed the earlier D…

NAGPUR POWER & INDUSTRIES LTD,MUMBAI vs. A.C.I.T.-3(2)(2), MUMBAI

In the result, appeal filed by the assessee is allowed

ITA 505/MUM/2023[2009-2010]Status: DisposedITAT Mumbai01 Aug 2023AY 2009-2010

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms Kavitha Rajagopal, Hon'Blem/S. Nagpur Power & Industries Ltd V. Acit – 3(2)(2) 20Th Floor, Nirmal Aayakar Bhavan, M.K. Road Nariman Point, Mumbai – 400021 Mumbai - 400020 Pan: Aaacn5438N (Appellant) (Respondent) Assessee Represented By : Shri Surinder Mehra Department Represented By : Dr. Mahesh Akhade & Shri Chetan Kacha

Section 143(1)Section 143(2)Section 143(3)Section 148Section 14ASection 37(1)

…Supreme Treves Pvt. Ltd. Vs. DCIT (Bom) 6) Rajeshwar Land Developers Pvt. Ltd. VITO 450 ITR 108 (Bom) 7) Manan Trading Co. Pvt. Ltd. Vs. DCIT 449 ITR 587 (Bom) 8) CIT Vs. Kelvinator of India Ltd. reported in 320 ITR 561 (SC) 9) Garden Silk Mills Ltd. vs. DCIT 222 ITR 27, 29, 30 (Gujarat) 10) CIT vs Usha International Ltd. 348 ITR 485 (Delhi) 11) Deepak Kapoor vs. Principal C.I.T. and Others, 450 ITR 301 (Del) 12) Mangalore Refinery & Petrochemicals Ltd. Vs. DCIT 450 ITR 282 (Bom) d) That the C.I.T.(A) has erred in placing much reliance only on order passed by the Assessing officer disposing of objections filed by…

CASTAMET WORKS PRIVATE LIMITED,KHARWA vs. PRINCIPLE COMMISSIONER OF INCOME TAX, UDAIPUR

ITA 187/JPR/2022[2017-18]Status: DisposedITAT Jaipur04 Oct 2022AY 2017-18

For Appellant: Sh. Prakul Khurana (Adv.) &For Respondent: Sh. Sanjay Dhariwal (CIT)

Section 143(1)Section 143(3)Section 14ASection 263Section 36(1)(va)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,’B’ JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBkSM deys’k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 187/JP/2022 fu/kZkj.k o"kZ@Assessment Year :2017-18 cuke Castamet Works Private Limited Principle Commissioner of Vs. Village – Kharwa,Tehsil- Masuda Income Tax, Udaipur Kharwa, Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AADCC 5624 L vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. Prakul Khurana (A…

NARENDRA AGGARWAL,NEW DELHI vs. PR. CIT- 7, DELHI

In the result, appeal of the assessee is allowed

ITA 456/DEL/2021[2015-16]Status: DisposedITAT Delhi04 Apr 2022AY 2015-16

Bench: Sh. Anil Chaturvedi & Sh. Kuldip Singh

Section 143(3)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI BEFORE SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SH. KULDIP SINGH, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCING) (RESPONDENT) Assessee by Dr. Rakesh Gupta, Adv. Revenue by Ms. Sarita Kumari, CIT-DR Date of hearing: 07.02.2022 Date of Pronouncement: 04.04.2022 ORDER PER ANIL CHATURVEDI, AM: This appeal filed by the assessee is directed against the order dated 31.03.2021 of the Pr. Commissioner of Income Tax – Delhi – 7, (PCIT) New Delhi relating to Assessment Year 2015-16. 2. The relevant facts as culled from the material on records are as un…

DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(1), HYDERABAD vs. ANDHRA BANK , HYDERABAD

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

ITA 315/HYD/2019[2010-11]Status: DisposedITAT Hyderabad20 May 2021AY 2010-11

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahuassessment Year: 2010-11 Union Bank Of India, Vs. Dy. Commissioner Of (Erstwhile Andhra Income-Tax, Bank), Hyderabad. Circle – 1(1), Hyderabad. Pan – Aabca 7375C (Appellants) (Respondent) Assessment Year: 2010-11 Dy. Commissioner Of Vs. Union Bank Of India, Income-Tax, (Erstwhile Andhra Circle – 1(1), Bank), Hyderabad. Hyderabad Pan – Aabca 7375C

For Appellant: Shri S. AnanthamFor Respondent: Smt. Amisha S. Gupt

Section 143Section 143(3)Section 147Section 148Section 36

…192/Hyd/2019 & ITA No. 315/Hyd/2019 Union Bank of India,, Hyd. would not permit him to apply his mind to the same assessment with a view to correct his own mistakes. It is submitted that the Gujarat High Court in the case of Garden Silk Mills Ltd., Vs. DCIT [222 ITR 27] and Garden Silk Mills Ltd., Vs. DC IT [222 ITR 68] had taken a similar view even after the amended 147/148 sections came into force. The Gujarat High Court further held in the case second referred above that mere change of opinion is not sufficient to reopen the assessment and reassessment was not valid. Therefore we submit that since all the inf…

UNION BANK OF INDIA (ERSTWHILE-ANDHRA BANK),MUMBAI vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(1), HYDERABAD

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

ITA 192/HYD/2019[2010-11]Status: DisposedITAT Hyderabad20 May 2021AY 2010-11

For Appellant: Shri S. AnanthamFor Respondent: Smt. Amisha S. Gupt

Section 143Section 143(3)Section 147Section 148Section 36

DCIT, CIRCLE - 6(1), KOLKATA , KOLKATA vs. M/S. GAURAV ROSE REAL ESTATE PVT. LTD., , KOLKATA

ITA 2396/KOL/2019[2012-13]Status: DisposedITAT Kolkata21 Oct 2020AY 2012-13

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godara

Section 143Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 2(40)Section 68

…आयकर अपील"य अधीकरण, "यायपीठ – “ए” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “VIRTUAL COURT A” KOLKATA Before Shri J.Sudhakar Reddy, Accountant Member and Shri S.S.Godara, Judicial Member ITA No.2396/Kol/2019 & C.O.No.48/Kol/2019 (a/o ITA No.2396/Kol/2019) Assessment Year: 2012-13 Dy. Commissioner of M/s Gaurav Rose Real Income Tax, Circle-6(1), Estate Pvt. Ltd., C/o G K Aayakar Bhawan, 6th Floor, Steels, Sagar Estates, 2, N.C. Diutta Sarani, 4th P-7, Chowringhee Square, Kolkata-700 069 Floor, Unit-3, Dalhousie, Kolkata-700 001 बनाम M/s Gaurav Rose Real / Estate Pvt. Ltd., C/o G K V/s. Steels,…

DCIT (LTU), NEW DELHI vs. M/S. GAIL (INDIA) LTD., NEW DELHI

Accordingly, we dismiss the appeal filed by the ld AO on the limited issue that order passed by the ld AO is barred by limitation. Ground No. 1 is dismissed

ITA 6079/DEL/2016[2006-07]Status: DisposedITAT Delhi21 Jul 2020AY 2006-07

Bench: Shri Amit Shukla & Shri Prashant Maharishidcit(Ltu), Vs. M/S. Gail (India) Ltd, Circle-1, 16, Bhikaji Cama Place, Nbcc Plaza Pusp Vihar, Rk Puram, New Delhi New Delhi (Appellant) (Respondent)

For Appellant: Shri Rohit Jain, AdvFor Respondent: Ms. Sunita Singh, CIT DR

Section 143(3)Section 147Section 148Section 14ASection 263

…08 ITR 38 (Del) 66. German Remedies Ltd. 287 ITR 494 (Bom) 67. Grindwell Norton , 267 ITR 673 (Bom) 68. Pe/co Lectronics & Electricals Ltd, 210 ITR 991 (Cal) 69. Kaira District Cooperative Milk Producers Union Ltd. 216 ITR 317 (Guj) 70. Garden Silk Mills Ltd, 222 ITR 27 (Guj) 71. Veer Overseas Ltd, ITA No. 510 of 2009 (P & H) 72. Fenner India Ltd, 241 ITR 672 (Mad) 73. Dulli Chand Singhania, 269 ITR 182 (P&H) 74. Babu Lai Jug Raj & Co.. 289 ITR 115 (Raj) 75. Shri Tirath Ram Ahuja (HUF). 306 ITR 173(Del) 76. Haryana Acrylic Manufacturing Company, 308 ITR 38 (Del) 77. India Farmers Fertilizer Cooperative Ltd, 171 T…

ACC LTD,MUMBAI vs. CIT(LTU), MUMBAI

In the result, appeals are partly allowed for statistical purposes

ITA 977/MUM/2019[2013-14]Status: DisposedITAT Mumbai28 Nov 2019AY 2013-14

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwal

For Appellant: Shri Yogesh Thar a/wFor Respondent: Shri Anadi Varma

Section 143(3)Section 144C(1)Section 144C(3)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER ITA no.977 & 978/Mum./2019 (Assessment Year : 2013–14 & 2014–15) ACC Limited Cement House 121, M.K. Road ……………. Appellant Mumbai 400 020 PAN – AAACT1507C v/s Asstt. Commissioner of ……………. Respondent Income Tax (LTU)–1, Mumbai Assessee by : Shri Yogesh Thar a/w Shri Hardik Nirmal Revenue by : Shri Anadi Varma Date of Hearing – 03.09.2019 Date of Order – 28.11.2019 O R D E R PER BENCH Aforesaid appeals have been filed by the assessee challenging two separate ord…

JOINT COMMISSIONER OF INCOME-TAX-RANGE-1,, BILASPUR vs. SOUTH EASTERN COALFIELDS LIMITED,, BILASPUR

The appeals of the assessee are partly allowed for statistical purposes and the appeal of the Revenue in ITA

ITA 3/BIL/2012[2008-09]Status: DisposedITAT Raipur06 Nov 2019AY 2008-09

Bench: Shri Anil Chaturvedi, Am & Shri Partha Sarathi Chaudhury,Jm Sl.

For Appellant: S/ShriAjitKorde, S.R. RaoFor Respondent: ShriR.K. Singh

Section 143(3)Section 147Section 148Section 220(2)

…iation of interest as per section 244A(3), such variation of interest shall be substituted for the interest originally granted by reduced or increased amount, as the case may be, by rectification u/s.154 of the Act. [Relied on Garden Silk Mills Vs. CIT (1996) 221 ITR 861 (Guj.)] Accordingly, the AO has jurisdiction for rectifying the interest paid/payable on refund u/s. 154 of the I.T. Act. As per provision under sub section (2) of section 234D where as a result of an order u/s.150, the amount of refund granted under sub section (1) of Section 143 is held to be allowed correctly allowed either in whole or in part…

JOINT.COMMISSIONER OF INCOME TAX RANGE -I, BILASPUR(CG) vs. SOUTH EASTERN COALFIELDS LTD, BILASPUR(CG)

The appeals of the assessee are partly allowed for statistical purposes and the appeal of the Revenue in ITA

ITA 21/BIL/2012[2006-07]Status: DisposedITAT Raipur06 Nov 2019AY 2006-07

Bench: Shri Anil Chaturvedi, Am & Shri Partha Sarathi Chaudhury,Jm Sl.

For Appellant: S/ShriAjitKorde, S.R. RaoFor Respondent: ShriR.K. Singh

Section 143(3)Section 147Section 148Section 220(2)

LUPIN LIMITED,MUMBAI vs. CIT- LTU, MUMBAI

In the result, the appeal of assessee is allowed

ITA 3097/MUM/2019[2014-15]Status: DisposedITAT Mumbai31 Jul 2019AY 2014-15

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

For Appellant: Shri Rajan Vora &For Respondent: Shri Anadi Varma, DR

Section 115JSection 139(1)Section 143(3)Section 263Section 8

…e Act. It was argued that the CIT cannot ignore the binding decisions of jurisdictional courts and commence revision proceedings taking a view contrary to such decisions. Reliance is placed on the following case laws: - I) Garden Silk Mills Ltd. v CIT (1996) 221 ITR 861 (Guj) ii) Vettri Wines v ITO (1997) 63 lTD 125 (Chennai Trib) iii) CIT v. G.M. Mittal Stainless Steel (P) Ltd.(2003) 263 ITR 255 (SC) As noted earlier, the issue was examined by the AO during the course of assessment proceedings and the AO had accepted the contention of the 15 | P a g e assessee that foreign interim dividend was to be converte…

M/S PRABHAKAR PAPER MILLS PVT.LTD.,BHOPAL vs. PR. CIT-2, BHOPAL

In the result the impugned order u/s 263 of the Act dated 31

ITA 824/IND/2018[2007-08]Status: DisposedITAT Indore13 Jun 2019AY 2007-08

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2007-08 Prabhakar Paper Mills Pvt. Pr. Cit-2 Ltd. बनाम/ F-101-102, “B” R.B. Rower, Bhopal Vs. Eden Garde Chuna Bhatti, Kolar Road, Bhopal (Appellant) (Revenue) Pan: Appellant By Shri S.S. Deshpande, Ca Respondent By Smt. Ashima Gupta, Cit-Dr Date Of Hearing: 06.06.2019 Date Of Pronouncement: 13.06.2019 आदेश / O R D E R Per Manish Borad, A.M: This Appeal At The Instance Of Assessee Pertaining To Assessment Year 2007-08 Is Directed Against The Order Of Pr. Commissioner Of Income Tax-2, Bhopal, (In Short ‘Pr. Cit’), Dated 31.07.2018 Framed U/S 263 Of The Income Tax Act 1961(Hereinafter Called As The ‘Act’).

Section 115JSection 143(3)Section 263Section 263(2)

…ooks of accounts against the assessee. Whether the creditors are genuine or not. After considering all these, assessing officer shall decide the issue as per law. 15. We observe that Hon'ble High Court of Gujarat in the case of Garden Silk Mills Ltd. vs. CIT 221 ITR 861 gave following observations which to some extent are connected to the instant appeal: “We are of the view that merely because the Department is contemplating to file a special leave petition, the Commissioner cannot refuse to follow the decision when the court has settled the law in question. It may happen that the decision of an appellate author…

DEVKANT SYNTHETICS (INDIA) P.LTD,MUMBAI vs. PR CIT 3, MUMBAI

In the result, the appeal of the assessee stands allowed

ITA 3153/MUM/2017[2013-14]Status: DisposedITAT Mumbai06 Nov 2017AY 2013-14

Bench: Shri D.T.Garasia, Jm & Shri Rajesh Kumar, Am

For Appellant: Shri Rajeev KhandelwalFor Respondent: Shri B Pruseth

Section 143(3)Section 14ASection 260ASection 263

…al in assessee‟s own case passed in the earlier years as has been decided in the case of Seimens India Ltd reported in 156 ITR 11(Bom). 6. The ld.DR relied on the decision of ld. PCIT and also the decision rendered in the case of Garden Silk Mills Ltd V/s CIT 221 ITR 861. The ld .DR relied heavily on the order of ld.PCIT by submitted that when the order is challenged before the higher forum, the AO has committed the error by a by accepting the order in assessee‟s own case for the assessment years 2010- 11 and 2011-12 applied the rate of 5% exempt income to make u/s 14A r.w.r.8D despite the fact that there is a sp…

ANAND JAIN,MUMBAI vs. CIT CEN-III, MUMBAI

In the result, appeal filed by the assessee in ITA No

ITA 3895/MUM/2013[2005-06]Status: DisposedITAT Mumbai05 May 2017AY 2005-06

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.3895/Mum/2013 ("नधा"रण वष" / Assessment Year : 2005-06) Anand Jain, The Commissioner Of बनाम/ A-13, Sterling Apartments, Income Tax , Central – Iii, V. 38, Peddar Road, Room No. 109, Mumbai – 400 026. Aayakar Bhavan, Mumbai 400 020. "थायी लेखा सं./Pan : Aabpj1890J (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

For Appellant: Shri Vijay MehtaFor Respondent: Shri Rahul Raman, CIT-DR

Section 143(1)Section 143(3)Section 263

…ing Officer after considering all the factual positions, details filed and various judicial pronouncements is erroneous or prejudicial to the interests of the revenue. The assessee relies on the decision of Gujarat High Court in Garden Silk Mills Ltd v CIT - 221 ITR 861 in which it was held that the Commissioner is not empowered to ignore the binding decisions of the ITA 3895/Mum/2013 14 Supreme Court or a Jurisdictional High Court considered by the Assessing Officer while passing the Assessment order. The assessee also relies on the decision of Supreme Court in the case of CIT v. G.M. Mittal Stainless Steel…