Hindustan Lever Ltd. v. R.B. Wadkar

International Transmission Ltd, Mumbai vs. Deputy Commissioner of Income Tax Circle -15(1)(2), Mumbai

In the result, the appeal by the assessee is allowed

Bench: Shri Om Prakash Kantshri Sandeep Singh Karhailinternational Transmission Ltd. 501, 5Th Floor, Vasudeo Chambers, Mulund Goregaon Link Road, Bhandup (W), Mumbai - 400078 ……………. Appellant Pan: Aaaci0975M V/S

…aped assessment due to failure on the part of the assessee to disclose fully and truly all material facts. 13. In this regard, it is relevant to note the following observations of Hon’ble Jurisdictional High Court in Hindustan Lever Ltd vs R.B.Wadkar: [2004] 268 ITR 332 (Bom.): - “20. The reasons recorded by the Assessing Officer nowhere state that there was failure on the part of the assessee to disclose fully and truly all material facts necessary for the assessment of that assessment year. It is needless to mention that the reasons are required to be read as they were recorded by the Assessing Officer. No su…

Ecgc Limited, Mumbai vs. ACIT 3(1)(2), Mumbai

In the result, appeal of the assessee is allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI RATNESH NANDAN SAHAY (Accountant Member)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘E‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI RATNESH NANDAN SAHAY, ACCOUNTANT MEMBER M/s. ECGC Limited Vs. ACIT 3(1)(2) CTS No.393, 393/1 to 45 Mumbai M.V. Road, Andheri East Room No.608, Mumbai- 400 069 6th Floor Aaykar Bhawan M.K.Road Mumbai – 400 020 PAN/GIR No.AAACE0296K (Appellant) .. (Respondent) Assessee by Shri Vijay Mehta Revenue by Shri P.D. Chougule Date of Hearing 27/05/2024 Date of Pronouncement 22/08/2024 आदेश / O R D E R PER AMIT SHUKLA (J.M): The aforesaid appeal has been filed by the assessee against order dated 18/12/2023 passed by…

Mahavir Metal and Alloys, Mumbai vs. Income Tax Officer, Matrumandir Nana Chowk, Mumbai

Bench: MS. PADMAVATHY S, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

…IN THE INCOME TAX APPELLATE TRIBUNAL "D" BENCH, MUMBAI MS. PADMAVATHY S, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER Mahavir Metal And Alloys, 161, 3rd, M.G. Mahimtura Marg, 3rd Kumbharwada Lane, Mumbai - 400004 [PAN: AAKFM9869P] …………. Appellant Vs Income Tax Officer Ward 19(2)(3), Mumbai …………. Respondent Appearance : For the Appellant/Assessee Shri Vimal Punmiya For the Respondent/Department : Shri Nayanjyoti Nath Date Conclusion of hearing : 24.07.2024 Pronouncement of order : 30.07.2024 O R D E R Per Rahul Chaudhary, Judicial Member: 1. By way of the present appeal the Assessee has challenged…

Rbw Global Sarl, Mumbai vs. ACIT(International Taxation) Circle-4(1)(1), Mumbai

In the result, appeal of the assessee is allowed

Bench: Shri Narendra Kumar Billaiya, Hon'Ble

…his mind to the fact that the income is chargeable to tax under the Act and it has exceeded maximum amount not chargeable to income tax. The above satisfaction is not found in the reasons. 8. This Court in Hindustan Lever Ltd v. R.B. Wadkar, Asstt. CIT [2004] 268 ITR 332/137 Taxman 479 has held that reopening notice has to be justified on the basis of the reasons recorded at the time of issuing the impugned notice. The impugned notice must stand or fail on the reasons recorded. These reasons recorded cannot be supplemented by further reasons or by filing an affidavit and/or making oral submission. The reasons are…

Indu Mahendra Shah (L/H of Late Shri Mahendra G. Shah), Mumbai vs. ACIT, Circle-20(2), Mumbai

Appeal are dismissed as being infructuous

Bench: SHRI AMARJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

…rue and correct particulars of income on the part of the Assessee. Thus, it was contended by the Learned Authorized Representative for the Assessee that the reasons recorded were bad in law. 9. We note that in the case of Hindustan Lever Ltd. Vs. R.B. Badkar 268 ITR 332 (Bom) the Hon’ble Bombay High Court has, while examining re-opening assessment in a case where assessment was previously framed under Section 143(3) of the Act, held as under: “20. The reasons recorded by the Assessing Officer nowhere state that there was failure on the part of the assessee to disclose fully and truly all material facts necessa…

Bestline Properties Pvt. Ltd, Mumbai vs. ITO-12(1)(3), Mumbai

In the result, the appeal filed by the assessee is

Bench: Shri Pavan Kumar Gadale & Ms Padmavathy S

…all material facts necessary for the purpose of assessment, the notice issued beyond the period of four years from the end of the relevant assessment year could not be sustained. b) In the case of Hindustan Lever Ltd vs R.B Wadkar, ACIT and others reported in 268 ITR 332 the Hon'ble Bombay High Court held as under: Held that the notice was clearly beyond the period of four years. The reasons recorded by the Assessing Officer nowhere stated that there was failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment for that assessment year. Hence, the Assessing Office…

M/S Gujarat Realtores, Mumbai vs. Deputy Commissioner of Income Tax, Central Circle 1, Thane

In the result, the appeal for assessment year 2009

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 3523 To 3525/Mum/2023 Assessment Years: 2009-10, 2012-13, 2013-14 M/S Gujarat Realtors, Dy. Cit Central Circle-1, Ground Floor, Samriddhi, Room No. 10, 6Th Floor, Ashar Annapurna Estate, Indralok, Vs. It Park, Wagle Industrial Godhbunder Link Road, Thane, Estate, Thane (W)-400604. Bhayander, 401105. Pan No. Aahfg 0051 C Appellant Respondent Assessee By : Mr. Anuj Kisnadwala Revenue By : Mr. Manoj Kumar Singh, Sr. Dr Date Of Hearing : 16/04/2024 : Date Of Pronouncement 30/05/2024

…eferred to the decision of the Hon’ble Bombay High Court counsel referred to the decision of the Hon’ble Bombay High Court in the case of Hindustan in the case of Hindustan Lever Ltd. v. R.B. Wadkar Lever Ltd. v. R.B. Wadkar Assistant Commissioner reported in 268 ITR 332 (Bombay) and submitted Commissioner reported in 268 ITR 332 (Bombay) and submitted Commissioner reported in 268 ITR 332 (Bombay) and submitted that in absence of any recording by the Assessing Officer that there that in absence of any recording by the Assessing Officer that there that in absence of any recording by the Assessing Officer that ther…