Genom Biotech (P) Ltd. & Ors. v. DIT (Inv.) & Ors. (Bom)

224 CTR 270Reported decision#13772 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2018 to 2022.

Also reported as

23 DTR 241

Issues it is cited on

section 153a proceedingsexplanation to section 37section 158bdgoing concernprohibited by lawbusiness expediencysection 246section 246asection 30section 200commercial expediencyprincipal commissioner of income-tax

Judgments citing Genom Biotech (P) Ltd. & Ors. v. DIT (Inv.) & Ors. (Bom)

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 328/BANG/2022[2013-14]Status: DisposedITAT Bangalore07 Oct 2022AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…vitiate evidence collected during search. Dr. Pratap Singh & Another Vs Director of Enforcement & Ors.(SC) 155 ITR 166; Genom ITA Nos.323 to 328/Bang/2022 Wilfred D’Souza, Mangaluru Page 9 of 41 Biotech (P) Ltd. &Ors. Vs DIT(Inv.) & Ors. (Born) 23 DTR 241; 224 CTR 270 720 • The fact that the issue on which search was initiated (as evident from the Satisfaction note) was enquired by TPO and Ld. CIT(A) in the past and allowed in favour of assessee, will not affect the reasonable belief formed by DIT as neither TPO nor CIT(A) examined the issue in the angle of genuineness of transaction as a related party was th…

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 327/BANG/2022[2012-13]Status: DisposedITAT Bangalore07 Oct 2022AY 2012-13

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…vitiate evidence collected during search. Dr. Pratap Singh & Another Vs Director of Enforcement & Ors.(SC) 155 ITR 166; Genom ITA Nos.323 to 328/Bang/2022 Wilfred D’Souza, Mangaluru Page 9 of 41 Biotech (P) Ltd. &Ors. Vs DIT(Inv.) & Ors. (Born) 23 DTR 241; 224 CTR 270 720 • The fact that the issue on which search was initiated (as evident from the Satisfaction note) was enquired by TPO and Ld. CIT(A) in the past and allowed in favour of assessee, will not affect the reasonable belief formed by DIT as neither TPO nor CIT(A) examined the issue in the angle of genuineness of transaction as a related party was th…

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 326/BANG/2022[2011-12]Status: DisposedITAT Bangalore07 Oct 2022AY 2011-12

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…vitiate evidence collected during search. Dr. Pratap Singh & Another Vs Director of Enforcement & Ors.(SC) 155 ITR 166; Genom ITA Nos.323 to 328/Bang/2022 Wilfred D’Souza, Mangaluru Page 9 of 41 Biotech (P) Ltd. &Ors. Vs DIT(Inv.) & Ors. (Born) 23 DTR 241; 224 CTR 270 720 • The fact that the issue on which search was initiated (as evident from the Satisfaction note) was enquired by TPO and Ld. CIT(A) in the past and allowed in favour of assessee, will not affect the reasonable belief formed by DIT as neither TPO nor CIT(A) examined the issue in the angle of genuineness of transaction as a related party was th…

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 325/BANG/2022[2010-11]Status: DisposedITAT Bangalore07 Oct 2022AY 2010-11

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…vitiate evidence collected during search. Dr. Pratap Singh & Another Vs Director of Enforcement & Ors.(SC) 155 ITR 166; Genom ITA Nos.323 to 328/Bang/2022 Wilfred D’Souza, Mangaluru Page 9 of 41 Biotech (P) Ltd. &Ors. Vs DIT(Inv.) & Ors. (Born) 23 DTR 241; 224 CTR 270 720 • The fact that the issue on which search was initiated (as evident from the Satisfaction note) was enquired by TPO and Ld. CIT(A) in the past and allowed in favour of assessee, will not affect the reasonable belief formed by DIT as neither TPO nor CIT(A) examined the issue in the angle of genuineness of transaction as a related party was th…

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 324/BANG/2022[2009-10]Status: DisposedITAT Bangalore07 Oct 2022AY 2009-10

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…vitiate evidence collected during search. Dr. Pratap Singh & Another Vs Director of Enforcement & Ors.(SC) 155 ITR 166; Genom ITA Nos.323 to 328/Bang/2022 Wilfred D’Souza, Mangaluru Page 9 of 41 Biotech (P) Ltd. &Ors. Vs DIT(Inv.) & Ors. (Born) 23 DTR 241; 224 CTR 270 720 • The fact that the issue on which search was initiated (as evident from the Satisfaction note) was enquired by TPO and Ld. CIT(A) in the past and allowed in favour of assessee, will not affect the reasonable belief formed by DIT as neither TPO nor CIT(A) examined the issue in the angle of genuineness of transaction as a related party was th…

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 323/BANG/2022[2008-09]Status: DisposedITAT Bangalore07 Oct 2022AY 2008-09

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…vitiate evidence collected during search. Dr. Pratap Singh & Another Vs Director of Enforcement & Ors.(SC) 155 ITR 166; Genom ITA Nos.323 to 328/Bang/2022 Wilfred D’Souza, Mangaluru Page 9 of 41 Biotech (P) Ltd. &Ors. Vs DIT(Inv.) & Ors. (Born) 23 DTR 241; 224 CTR 270 720 • The fact that the issue on which search was initiated (as evident from the Satisfaction note) was enquired by TPO and Ld. CIT(A) in the past and allowed in favour of assessee, will not affect the reasonable belief formed by DIT as neither TPO nor CIT(A) examined the issue in the angle of genuineness of transaction as a related party was th…

Genom Biotech Pvt Ltd., Mumbai vs. ACIT CC -40, Mumbai

In the result, all the appeals of the assessee and the appeals of the revenue are treated as partly allowed

ITA 4656/MUM/2014[2003-04]Status: DisposedITAT Mumbai14 Mar 2018AY 2003-04

Bench: Shri B.R. Baskaran (Am)& Shri Pawan Singh (Jm)

Section 143(2)Section 143(3)Section 153A

…of the Act and also challenged the provisional attachment of its properties by filing writ before Hon’ble Bombay High Court. However the Hon’ble Bombay High Court has dismissed the writ petition of the assessee (WP No.2429 of 2008), vide its order reported in 224 CTR 270. He submitted following observations made by Hon’ble Bombay High Court are very much relevant:- “In the present case, the incriminating documents seized during the course of search and seizure operation reveal that the payments made by the petitioner No.1 to Cyprus/UK based companies towards marketing and advertisement expenses were further liabl…

Genom Biotech (P) Ltd. & Ors. v. DIT (Inv.) & Ors. (Bom) (224 CTR 270) — Cited in 7 Judgments | BharatTax