Honda Siel Power Products Ltd. v. Deputy CIT

340 ITR 53High Court2012#1465 most cited

What is Honda Siel Power Products Ltd. v. Deputy CIT authority for?

Failure to fully and truly disclose material facts, for the purpose of reassessment beyond four years, extends beyond the income tax return to omissions during assessment proceedings. Mere disclosure of a transaction does not constitute true and full disclosure if underlying material facts are withheld.

78

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2013 to 2026.

Also referred to as

Honda Siel Power Products Ltd. v. Deputy CIT · 340 ITR 53 · section 147 · section 148 · reassessment beyond four years · failure to disclose material facts · true and full disclosure · assessment proceedings · first proviso to section 147 · section 143(3)

Sections most often in play

Section 143(3)Section 147Section 148Section 143(1)Section 11Section 11(1)Section 11(1A)Section 11(2)

Issues it is cited on

section 11(2)(a)application of income for charitable purposestrue and full disclosurefull and true disclosuresection 10(33)fresh tangible materialfirst proviso to section 147section 60beyond four yearssection 11(5)section 115jaaccumulation of income

Judgments citing Honda Siel Power Products Ltd. v. Deputy CIT

DEPUTY COMMISSIONER OF INCOME TAX, YAMUNANAGAR vs. M/S THE VED PARKASH MUKAND LAL, YAMUNANAGAR

In the result, the assessee’s appeals, for both the years, stand dismissed

ITA 833/CHANDI/2014[2005-06]Status: DisposedITAT Chandigarh10 Mar 2026AY 2005-06

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.824/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 2. आयकर अपील सं. / Ita No.825/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) The Ved Prakash Mukand Lal Dcit Educational Society Circle Yamuna Nagar बनाम/ Vs. (Radaur, Yamuna Nagar) Haryana C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : & 3. आयकर अपील सं. / Ita No.833/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 4. आयकर अपील सं. / Ita No.832/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) Dcit The Ved Prakash Mukand Lal Circle Yamuna Nagar Educational Society बनाम/ Haryana (Radaur, Yamuna Nagar) Vs. C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : अपीलाथ"कीओरसे/ Appellant By : Sh. Tejmohan Singh (Advocate) – Ld. Ar ""थ"कीओरसे/Respondent By : Smt. Yamini (Cit) - Ld. Dr (Virtual)

For Appellant: Sh. Tejmohan Singh (Advocate) – Ld. ARFor Respondent: Smt. Yamini (CIT) - Ld. DR (Virtual)
Section 11Section 11(2)Section 11(5)Section 12ASection 143(1)Section 143(3)Section 147

…The same would also establish that there was failure on the part of the assessee to disclose fully and truly all material facts necessary for the assessment in the present case. The Hon’ble Delhi High Court in the case of Honda Siel Power Products Ltd. (2012; 340 ITR 53) held as under: - The term 'failure' on the part of the assessee is not restricted only to the income tax return and the columns of the income-tax return or the tax audit report. This is the first stage. The said expression "failure to fully and truly disclose material facts" also relates to the stage of the assessment proceedings, the second sta…

DCIT vs. M/S THE VED PARKASH MUKAND LAL, YAMUNANAGAR

In the result, the assessee’s appeals, for both the years, stand dismissed

ITA 832/CHANDI/2014[2006-07]Status: DisposedITAT Chandigarh10 Mar 2026AY 2006-07

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.824/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 2. आयकर अपील सं. / Ita No.825/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) The Ved Prakash Mukand Lal Dcit Educational Society Circle Yamuna Nagar बनाम/ Vs. (Radaur, Yamuna Nagar) Haryana C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : & 3. आयकर अपील सं. / Ita No.833/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 4. आयकर अपील सं. / Ita No.832/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) Dcit The Ved Prakash Mukand Lal Circle Yamuna Nagar Educational Society बनाम/ Haryana (Radaur, Yamuna Nagar) Vs. C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : अपीलाथ"कीओरसे/ Appellant By : Sh. Tejmohan Singh (Advocate) – Ld. Ar ""थ"कीओरसे/Respondent By : Smt. Yamini (Cit) - Ld. Dr (Virtual)

For Appellant: Sh. Tejmohan Singh (Advocate) – Ld. ARFor Respondent: Smt. Yamini (CIT) - Ld. DR (Virtual)
Section 11Section 11(2)Section 11(5)Section 12ASection 143(1)Section 143(3)Section 147

…The same would also establish that there was failure on the part of the assessee to disclose fully and truly all material facts necessary for the assessment in the present case. The Hon’ble Delhi High Court in the case of Honda Siel Power Products Ltd. (2012; 340 ITR 53) held as under: - The term 'failure' on the part of the assessee is not restricted only to the income tax return and the columns of the income-tax return or the tax audit report. This is the first stage. The said expression "failure to fully and truly disclose material facts" also relates to the stage of the assessment proceedings, the second sta…

THE VED PRAKASH MUKAND LAL EDUCATIONAL SOCIETY,YAMUNANAGAR vs. DCIT, YAMUNANAGAR

In the result, the assessee’s appeals, for both the years, stand dismissed

ITA 825/CHANDI/2014[2006-07]Status: DisposedITAT Chandigarh10 Mar 2026AY 2006-07

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.824/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 2. आयकर अपील सं. / Ita No.825/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) The Ved Prakash Mukand Lal Dcit Educational Society Circle Yamuna Nagar बनाम/ Vs. (Radaur, Yamuna Nagar) Haryana C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : & 3. आयकर अपील सं. / Ita No.833/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 4. आयकर अपील सं. / Ita No.832/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) Dcit The Ved Prakash Mukand Lal Circle Yamuna Nagar Educational Society बनाम/ Haryana (Radaur, Yamuna Nagar) Vs. C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : अपीलाथ"कीओरसे/ Appellant By : Sh. Tejmohan Singh (Advocate) – Ld. Ar ""थ"कीओरसे/Respondent By : Smt. Yamini (Cit) - Ld. Dr (Virtual)

For Appellant: Sh. Tejmohan Singh (Advocate) – Ld. ARFor Respondent: Smt. Yamini (CIT) - Ld. DR (Virtual)
Section 11Section 11(2)Section 11(5)Section 12ASection 143(1)Section 143(3)Section 147

…The same would also establish that there was failure on the part of the assessee to disclose fully and truly all material facts necessary for the assessment in the present case. The Hon’ble Delhi High Court in the case of Honda Siel Power Products Ltd. (2012; 340 ITR 53) held as under: - The term 'failure' on the part of the assessee is not restricted only to the income tax return and the columns of the income-tax return or the tax audit report. This is the first stage. The said expression "failure to fully and truly disclose material facts" also relates to the stage of the assessment proceedings, the second sta…

THE VED PRAKASH MUKAND LAL EDUCATIONAL SOCIETY,YAMUNANAGAR vs. DCIT, YAMUNANAGAR

In the result, the assessee’s appeals, for both the years, stand dismissed

ITA 824/CHANDI/2014[2005-06]Status: DisposedITAT Chandigarh10 Mar 2026AY 2005-06

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.824/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 2. आयकर अपील सं. / Ita No.825/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) The Ved Prakash Mukand Lal Dcit Educational Society Circle Yamuna Nagar बनाम/ Vs. (Radaur, Yamuna Nagar) Haryana C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : & 3. आयकर अपील सं. / Ita No.833/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2005-06) & 4. आयकर अपील सं. / Ita No.832/Chandi/2014 (िनधा"रण वष" / Assessment Year: 2006-07) Dcit The Ved Prakash Mukand Lal Circle Yamuna Nagar Educational Society बनाम/ Haryana (Radaur, Yamuna Nagar) Vs. C/O Shri Tej Mohan Singh (Advocate) #527, Sector – 10D, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaatv-4812-B (अपीलाथ"/Appellant) (""थ" / Respondent) : अपीलाथ"कीओरसे/ Appellant By : Sh. Tejmohan Singh (Advocate) – Ld. Ar ""थ"कीओरसे/Respondent By : Smt. Yamini (Cit) - Ld. Dr (Virtual)

For Appellant: Sh. Tejmohan Singh (Advocate) – Ld. ARFor Respondent: Smt. Yamini (CIT) - Ld. DR (Virtual)
Section 11Section 11(2)Section 11(5)Section 12ASection 143(1)Section 143(3)Section 147

…The same would also establish that there was failure on the part of the assessee to disclose fully and truly all material facts necessary for the assessment in the present case. The Hon’ble Delhi High Court in the case of Honda Siel Power Products Ltd. (2012; 340 ITR 53) held as under: - The term 'failure' on the part of the assessee is not restricted only to the income tax return and the columns of the income-tax return or the tax audit report. This is the first stage. The said expression "failure to fully and truly disclose material facts" also relates to the stage of the assessment proceedings, the second sta…

M/S. ASHOK LEYLAND LTD.,CHENNAI vs. DCIT, NCC-8(1), LTU-II,, CHENNAI

In the result, appeal filed by the assessee is allowed

ITA 601/CHNY/2025[2010-11]Status: DisposedITAT Chennai29 Jul 2025AY 2010-11

Bench: Shri Aby T. Varkey & Shri Jagadish

Section 143(2)Section 143(3)Section 147Section 148Section 32(1)(iia)

…t there was no "true and fair disclosure" in view of the law laid down by this Court in Phool Chand BajrangLal's case (supra), and the judgment of the Delhi High Court in Honda Siel Power Products Ltd. v. Dy. CIT [2011] 110 taxmann.com 2/197 Taxman 415/[2012] 340 ITR 53 (Delhi). We have already referred to the judgment in Phool Chand's case (supra), wherein it was held that where the transaction of a particular assessment year is found to be a bogus transaction, the disclosures made could not be said to be all "true" and "full". Relying upon the said judgment the High Court held that merely because the transactio…

RAJESWAR THAKUR,BHAWANIPATNA vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE -1(1), SAMBALPUR

ITA 144/CTK/2025[2014-15]Status: DisposedITAT Cuttack21 Jul 2025AY 2014-15

Bench: Shri George Mathan & Shri Rajesh Kumarआयकर अपील सं/Ita No.143 & 144/Ctk/2025 (निर्धारण वर्ष / Assessment Years : 2012-2013 & 2014-2015) Rajeswar Thakur Pardeshpada, Near Balaji Temple Bhawanipatna, Kalahandi-766001 Vs Acit, Circle-1(1), Sambalpur Pan No. :Aaspt 7155 M (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent) निर्धारिती की ओर से /Assessee By : Shri S.K.Agrawalla, Ca राजस्व की ओर से /Revenue By : Shri Nishant Rao B, Sr. Dr सुनवाई की तारीख / Date Of Hearing : 21/07/2025 घोषणा की तारीख/Date Of Pronouncement : 21/07/2025 आदेश / Order Per Bench : These Two Appeals Filed By The Assessee Against The Order Of The Id. Cit(A), National Faceless Appeal Centre (Nfac), Delhi, Both Dated 27.12.2024 For Assessment Years 2012-2013 & 2014-2015.

For Appellant: Shri S.K.Agrawalla, CAFor Respondent: Shri Nishant Rao B, Sr. DR
Section 139Section 142Section 143Section 143(3)Section 148Section 234BSection 234CSection 288A

…TME On the issue of reopening of the case after 4 years from the end of the assessment year on account of failure of the assessee to make full and true disclosure, the decision of Delhi High Court in the case of Honda Siel Powers Products Ltc. Vs. CIT (2013) 340 ITR 53 (Del.) is relevant. In that case, the Hon'ble Delhi High Court has discussed in detail what constitutes failure of the assessee to make full and true disclosure in the first round of assessment. The relevant portion from its order is reproduced hereunder:…

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(3)(1), MUMBAI, MUMBAI vs. TMF HOLDINGS LIMITED, MUMBAI

In the result, the appeal of the revenue bearing ITA No

ITA 2983/MUM/2025[2017-18]Status: DisposedITAT Mumbai18 Jul 2025AY 2017-18

Bench: Shri Anikesh Banerjee & Smt. Renu Jauhrideputy Commissioner Of Vs Tmf Holdings Limited 14, 4Th Floor, Sir H C Dinshaw Income Tax, Circle 1(3)(1), Mumbai Building, 16, Horniman Circle, Fort, Room No.535, 5Th Floor, Aaykar Mumbai-400 001 Bhavan, M.K. Road, Mumbai- Pan: Aacct4644A 400 020 Appellant Respondent

For Appellant: Shri Rajan Vora a/w Shri Nikhil TiwariFor Respondent: Shri Ritesh Mishra, CIT DR
Section 115JSection 143(3)Section 144BSection 147Section 148Section 250Section 37(1)

…at there was no "true and fair disclosure" in view of the law laid down by this Court in Phool Chand Bajrang Lal's case (supra), and the judgment of the Delhi High Court in Honda Siel Power Products Ltd v. Dy. CIT [2011] 110 taxmann.com 2/197 Taxman 415/2012) 340 ITR 53 (Delhi) We have already referred to the judgment in Phool Chand's case (supra) wherein it was held that where the transaction of a particular assessment year is found to be a bogus transaction, the disclosures made could not be said to be all "true" and "full" Relying upon the said judgment the High Court held that merely because the transaction o…

BEST REALTRECH INDIA P.LTD,NEW DELHI vs. ITO, WARD-4(3), NEW DELHI

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

ITA 390/DEL/2020[2011-12]Status: DisposedITAT Delhi27 Dec 2024AY 2011-12

Bench: Shri Mahavir Singh & Shri S. Rifaur Rahmanm/S Best Realtrech Income Tax Officer, (India) Pvt. Ltd., Ward-4(3), New Delhi H-8, First Floor, Vs. Best Plaza, Netaji Subhash Place, Pitampura, Delhi-110034 Pan:Aadcb1848D (Appellant) (Respondent)

Section 132Section 142(1)Section 143(2)Section 143(3)Section 147Section 148Section 153CSection 68

…ra 36 and 37 of the written submission which reads as under: “36. The expression "fully and truly disclose all material facts" has been discussed in multiple decisions of this Court as well as the Apex Court. In Honda Siel Power Products Ltd v. Dy. CIT [2012] 340 ITR 53 (Delhi), it was explained as to what is the meaning of the expression "disclose fully and truly all material facts" appearing in Section 147 of the said Act. In that decision, this Court observed as under:- "12. The law postulates a duty on every assessee to disclose fully and truly all material facts for its assessment. The disclosure must be ful…

ACIT, CENT CIRCLE-1, TRICHY vs. M/S MANGAL & MANGAL, TRICHY

In the result, appeal filed by the revenue is dismissed

ITA 511/CHNY/2022[2012-13]Status: DisposedITAT Chennai09 Apr 2024AY 2012-13

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 511/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13 The Assistant Commissioner Of M/S. Mangal & Mangal, Income Tax, V. 25, N.S.B. Road, Teppakulam, Central Circle -2, Trichy – 620 002. No. 44, Williams Road, [Pan: Aaifm-3378-B] Cantonment, Trichy – 620 001. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. S. Sridhar, Advocate : Shri. Nlay Baran Som, Cit ""यथ" क" ओर से/Respondent By सुनवाई क" तारीख/Date Of Hearing : 06.02.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

For Appellant: Shri. S. Sridhar, Advocate
Section 143(3)Section 147Section 148

…आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी वी दुगा" राव, "याियक सद"य एवं "ी मंजुनाथा. जी, लेखा सद"य के सम" BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER AND SHRI MANJUNATHA. G, HON’BLE ACCOUNTANT MEMBER आयकर अपील सं./ITA No.: 511/Chny/2022 िनधा"रण वष" / Assessment Year: 2012-13 The Assistant Commissioner of M/s. Mangal and Mangal, Income Tax, v. 25, N.S.B. Road, Teppakulam, Central Circle -2, Trichy – 620 002. No. 44, Williams Road, [PAN: AAIFM-3378-B] Cantonment, Trichy – 620 001. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by :…

NAHAR COLOURS AND COATINHGS PRIVATE LIMITED,UDAIPUR vs. PRINCIPAL COMMISSIONER OFINCOMETAX, UDAIPUR

In the result, appeal of the assessee is allowed

ITA 140/JODH/2023[2018-19]Status: DisposedITAT Jodhpur09 Aug 2023AY 2018-19
Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 263Section 801ASection 80I

…increasing the liability of the Assessee under Section 154, for any assessment year beginning on or before the 1stdayof April, 2001." 29. Interpreting the said provision in Honda Siel Power Products versusDeputy Commissioner of Income Tax and Another, (2012) 340 ITR 53 (Delhi), ithasbeenheldasunder- "8. The Petitioner has relied upon the proviso to Section 14A of the Act. The proviso according to us is not applicable in view of the factual matrix of the present case and does not protect or come to the aid of the Petitioner. In the present case, after return of income for the assessment year 2000-01 was filed on…

DCIT, CC-15, NEW DELHI vs. BDR BUILDERS & DEVELOPERS P. LTD., NEW DELHI

In the result, the appeal of the Revenue is dismissed

ITA 1177/DEL/2021[2012-13]Status: DisposedITAT Delhi16 Mar 2023AY 2012-13

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Usasstt. Year: 2012-13 Dcit, Vs. Bdr Builders & Developers P. Ltd,B- Central Circle-15, 393, Zakir Nagar So, South East Delhi, New Delhi New Delhi-1100025 (Appellant) (Respondent) Pan No. Assessee By : Dr. Rakesh Gupta, Adv. Revenue By : Sh. Kanv Bali, Sr. Dr Date Of Hearing: 28.02.2023 Date Of Pronouncement: 16.03.2023

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Sh. Kanv Bali, Sr. DR
Section 139(1)Section 143(3)Section 147Section 148Section 153ASection 68

…urt held that there was no "true and fair disclosure" in view of the law laid down by this Court in Phool Chand's case (supra), and the judgment of the Delhi High Court in Honda Siel Power Products Limited vs. Deputy Commissioner Income Tax and Another (2012) 340 ITR 53 (Delhi). We have already referred to the judgment in Phool Chand's case (supra), wherein it was held that where the transaction of a particular assessment year is found to be a bogus transaction, the disclosures made could not be said to be all "true" and "full". Relying upon the said judgment the High Court held that merely because the transactio…

HAZARI LAL KESARI CHAND,NEW DELHI vs. ACIT, CIRCLE-48(1), NEW DELHI

In the result, the appeal of the assessee is dismissed

ITA 8561/DEL/2019[2007-08]Status: DisposedITAT Delhi10 Feb 2023AY 2007-08

Bench: Shri Anil Chaturvedi & Shri Yogesh Kumar U.S

For Appellant: N O N EFor Respondent: Shri
Section 132Section 133(6)Section 143(1)Section 148

…o the lack of true and fair disclosure by the assessee. In this regard, it is essential to understand the meaning of the phrase 'true and fair disclosure'. The Court has'Considered the meaning of this phrase in Honda Siel Power Products Ltd. v. Dy. CIT [2012] 340 ITR 53/[2011] 197 Taxman 415/10 taxmann.com 2 (Delhi) where the Court held that that the term 'failure' on the part of the assessee is not restricted to the return and the columns of the return or the tax audit report. [Para 42]. It is also pertinent to observe that reopening based on information received from the Investigation wing is a valid basis for…

MAHARASHTRA STATE ELECTRICITY TRANSMISSION COMPANY LTD.,,MUMBAI vs. THE INCOME TAX OFFICER, WARD-14(2)(3), MUMBAI

In the result, the appeal of the assessee is al

ITA 990/MUM/2022[2011-12]Status: DisposedITAT Mumbai29 Dec 2022AY 2011-12

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant () Assessment Year: 2011-12 Maharashtra State Electricity Income-Tax Officer, Ward Transmission Company Ltd., 14(2)(3), Plot No. C-19 E Block, Vs. Aayakar Bhavan, Maharshi Prakashganga, Bandra-Kurla Karve Road, Complex, Bandra (East), Mumbai-400020. Mumbai-400051. Pan No. Aaecm 2936 N Appellant Respondent Assessee By : Mr. Ketan Ved, Ar Revenue By : Mr. Harishankar Lal, Dr : Date Of Hearing 15/11/2022 Date Of Pronouncement : 29/12/2022

For Appellant: Mr. Ketan Ved, ARFor Respondent: Mr. Harishankar Lal, DR
Section 148

…cted of the appellant on this account is rejected. The Hon'ble Supreme Court in the case of Honda Siel Power The Hon'ble Supreme Court in the case of Honda Siel Power The Hon'ble Supreme Court in the case of Honda Siel Power Products Ltd. Vs DCIT &Anr. (Del) 340 ITR 53 upheld in 340 Products Ltd. Vs DCIT &Anr. (Del) 340 ITR 53 upheld in 340 Products Ltd. Vs DCIT &Anr. (Del) 340 ITR 53 upheld in 340 IT 64 (SC had upheld the reopening of assessment as valid IT 64 (SC had upheld the reopening of assessment as valid IT 64 (SC had upheld the reopening of assessment as valid by clearly holding that term 'failure' on t…

WEST BENGAL INFRASTRUCTURE FINANCE CORPORATION LIMITED,KOLKATA vs. ACIT, CIR.-6(2), KOLKATA

In the result, the appeal of the assessee is allowed

ITA 564/KOL/2020[2008-09]Status: DisposedITAT Kolkata13 Jul 2022AY 2008-09

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

Section 10(34)Section 143(3)Section 148Section 14A

…. D.R. relied upon the orders of Revenue Authorities and submitted that 14A was not considered with the angle of disallowance of interest expenses. He relied upon decision of Hon’ble Delhi High Court in the case of Honda Siel Power Products Limited –vs- DCIT (340 ITR 53). 10. We have duly considered the rival contentions and gone through the record carefully. A plain reading of section 147 would contemplate that if the ld. Assessing Officer has reasoned to believe that any income chargeable to tax has escaped assessment for any assessment year, he may 8 Assessment Year: 2008-2009 West Bengal Infrastructure Dev…

DY CIT-CC-6(3), MUMBAI vs. M/S. MARATHON NEXTGEN REALTY LTD, MUMBAI

ITA 798/MUM/2021[2011-12]Status: DisposedITAT Mumbai25 Mar 2022AY 2011-12

Bench: Vikas Awasthy & Shri Prashant Maharishiआअसं. 797/मुं/2021 ("न. व. 2012-13 ) आअसं. 798/मुं/2021 ("न. व. 2011-12 ) आअसं. 799/मुं/2021 ("न. व. 2010-11) Dy. Commissioner Of Income Tax, Central Circle – 6(3), Room No.1926, 19Th Floor, Air India Building, Nariman Point, Mumbai 400 021 ..... अपीलाथ" /Appellant बनाम Vs. M/S. Marathon Nextgen Realty Limited, Marathon Futurex Mafatlal Mill Compound, N.M.Joshi Marg, Lower Parel, Mumbai 400 013. Pan: Aaacp-8032-E ..... ""तवाद"/Respondent अपीलाथ" "वारा/ Appellant By : Shri J.P. Bairagra With Ms. Rupa Nanda ""तवाद" "वारा/Respondent By : Shri C.T. Mathews सुनवाई क" "त"थ/ Date Of Hearing : 23/02/2022 घोषणा क" "त"थ/ Date Of Pronouncement : 25/03/2022 आदेश/ Order Per Vikas Awasthy, Jm: These Three Appeals By The Revenue Are Directed Against The Orders Of Commissioner Of Income Tax(Appeals)-54, Mumbai [In Short ‘ The Cit(A)’], For The 2

For Appellant: Shri J.P. Bairagra with Ms. Rupa NandaFor Respondent: Shri C.T. Mathews
Section 147Section 148

…ntative submitted that there is no bar in reopening of assessment on the basis of audit objection. The ld. Departmental Representative in order to support his contention placed reliance on the following decisions: (i) Honda Siel Power Products Ltd. vs. DCIT, 340 ITR 53(Delhi) (ii) Calcutta Discount Co. Ltd. vs. ITO, 41 ITR 191 (SC) (iii) Gruh Finance Ltd. vs. JCIT, 243 ITR 482 (Guj) (iv) Central Province Manganese Ore Co. Ltd., 191 ITR 662(SC) (v) Raymond Woolen Mills vs. ITO, 236 ITR 34(SC) (vi) Asstt. CIT vs. Rajesh Jhaveri Stock Broker, 291 ITR 500 (SC) 6 ITA NO.798/MUM/2021 (A.Y.2011-12) 6.1 The ld. Depart…

DY CIT, CC-6(3), MUMBAI vs. M/S. MARATHON NEXTGEN REALTY LTD, MUMBAI

ITA 797/MUM/2021[2012-13]Status: DisposedITAT Mumbai25 Mar 2022AY 2012-13

Bench: Vikas Awasthy & Shri Prashant Maharishiआअसं. 797/मुं/2021 ("न. व. 2012-13 ) आअसं. 798/मुं/2021 ("न. व. 2011-12 ) आअसं. 799/मुं/2021 ("न. व. 2010-11) Dy. Commissioner Of Income Tax, Central Circle – 6(3), Room No.1926, 19Th Floor, Air India Building, Nariman Point, Mumbai 400 021 ..... अपीलाथ" /Appellant बनाम Vs. M/S. Marathon Nextgen Realty Limited, Marathon Futurex Mafatlal Mill Compound, N.M.Joshi Marg, Lower Parel, Mumbai 400 013. Pan: Aaacp-8032-E ..... ""तवाद"/Respondent अपीलाथ" "वारा/ Appellant By : Shri J.P. Bairagra With Ms. Rupa Nanda ""तवाद" "वारा/Respondent By : Shri C.T. Mathews सुनवाई क" "त"थ/ Date Of Hearing : 23/02/2022 घोषणा क" "त"थ/ Date Of Pronouncement : 25/03/2022 आदेश/ Order Per Vikas Awasthy, Jm: These Three Appeals By The Revenue Are Directed Against The Orders Of Commissioner Of Income Tax(Appeals)-54, Mumbai [In Short ‘ The Cit(A)’], For The 2

For Appellant: Shri J.P. Bairagra with Ms. Rupa NandaFor Respondent: Shri C.T. Mathews
Section 147Section 148

…ntative submitted that there is no bar in reopening of assessment on the basis of audit objection. The ld. Departmental Representative in order to support his contention placed reliance on the following decisions: (i) Honda Siel Power Products Ltd. vs. DCIT, 340 ITR 53(Delhi) (ii) Calcutta Discount Co. Ltd. vs. ITO, 41 ITR 191 (SC) (iii) Gruh Finance Ltd. vs. JCIT, 243 ITR 482 (Guj) (iv) Central Province Manganese Ore Co. Ltd., 191 ITR 662(SC) (v) Raymond Woolen Mills vs. ITO, 236 ITR 34(SC) (vi) Asstt. CIT vs. Rajesh Jhaveri Stock Broker, 291 ITR 500 (SC) 6 ITA NO.798/MUM/2021 (A.Y.2011-12) 6.1 The ld. Depart…

RAMESH CHAND INVESTMENT & LEASING PVT. LTD.,NEW DELHI vs. ACIT, CIRCLE- 21(2), NEW DELHI

ITA 6009/DEL/2017[2004-05]Status: DisposedITAT Delhi07 Dec 2021AY 2004-05

Bench: Smt. Diva Singh & Shri R.K. Pandaassessment Year: 2004-05 Ramesh Chand Investment & Vs. Acit, Leasing Pvt. Ltd., Circle-21(2), 69/2A, Najafgarh Road Industrial New Delhi. Area, New Delhi. Pan:Aaccr3585Q (Appellant) (Respondent) Assessee By : None Revenue By : Shri Anilgandhi, Sr. Dr Date Of Hearing : 06.12.2021 Date Of Pronouncement : 07.12.2021 Order Per R.K. Panda, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 1St March,2013 Of The Cit(A)-18, New Delhi, Relating To Assessment Year 2004-05. 2. None Appeared On Behalf Of The Assessee At The Time Of Hearing. No Application For Adjournment Of Hearing Has Been Filed. A Perusal Of The Order Sheet Entries Shows That No One Was Appearing On The Previous Occasions. Although Notices Have Been Sent By The Registry Through Rpad, Every Time The Same Was Returned By The Postal Authorities With The Remark ‘No Such Person In The Address.’ The Assessee Has Also Not Taken Any Step To Intimate The Change Of Address, If Any. Under These Circumstances, We Deem It Proper To Decide The Appeal On The Basis Of The Material Available On Record & After Hearing The Ld. Dr.

For Appellant: NoneFor Respondent: Shri AnilGandhi, Sr. DR
Section 143(2)Section 144Section 147Section 148

…sessee to raise all contentions on the merits of the case with regard to the amount of Rs. 98.46 lakhs being offered for tax as well as its contention on section 14A of the Act Decision of the Delhi High Court in Honda Siel Power Products v. Deputy CIT [2012] 340 ITR 53 (Delhi) affirmed. Petition for special leave to appeal from the judgment and order dated February 14, 2011 of the Delhi High Court in W. P. (Civil) No. 9036 of 2007. The judgment of the High Court is reported as Honda Siel Power Products v. Deputy CIT [2012] 340 ITR 53 (Delhi).” Considering the above, the reopening proceeding cannot be said to be…

SARASWATI REALTECH P.LTD,NEW DELHI vs. ITO, WARD-22(3), NEW DELHI

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

ITA 3269/DEL/2019[2010-11]Status: DisposedITAT Delhi29 Oct 2021AY 2010-11

Bench: Shri R.K. Pandaassessment Year: 2010-11 Saraswati Realtech P. Ltd., Vs. Ito, B-23, Ground Floor, Ward-22(3), Pushpanjali Enclave, New Delhi. Pitampura, New Delhi. Pan: Aamcs0744G (Appellant) (Respondent) Assessee By : Shri Rajesh Jain, Ca & Shri Hemant Pahwa, Ca Revenue By : Shri R.K. Gupta, Sr.Dr Date Of Hearing : 14.10.2021 Date Of Pronouncement : 29.10.2021 Order

For Appellant: Shri Rajesh Jain, CA &For Respondent: Shri R.K. Gupta, Sr.DR
Section 132Section 143(1)Section 143(3)Section 147Section 148

…scussion, we are of the view that assessee has demonstrated on the record, that all facts relevant for the assessment of its income have been declared by it fully and truly." 6. This Court had in the judgment reported as Honda Siel Power Products Ltd. V. DCIT 340 ITR 53 held that page 81 para 13 held that a question as to whether there is failure or omission to disclose fully and truly material facts as essentially one of fact. This was affirmed by the Supreme Court in Honda Siel Power Product V. DCIT 340 ITR 64 (SC). The Supreme Court ruling in Commissioner of Income Tax vs. Kelvinator India Ltd. 320 ITR 561 (SC…

MRF LIMITED,CHENNAI vs. ACIT LTU 2(I/C), CHENNAI

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

ITA 1175/CHNY/2019[2009-10]Status: DisposedITAT Chennai28 Jan 2021AY 2009-10

Bench: Shri Mahavir Singhand Shri G. Manjunathaआयकर अपील सं./Ita No.: 1175/Chny/2019 िनधा"रण वष" / Assessment Year: 2009-10 M/S. Mrf Limited, The Acit, New No.114, Greams Road, V. Large Tax Payer Unit-2(I/C), Chennai – 600 006. Chennai. Pan: Aaacm4154G (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri Vikram Vijayaraghavan, Advocate ""यथ" क" ओर से/Respondent By : Shri Suresh Periasamy,Jcit सुनवाई क" तार"ख/Date Of Hearing : 30.12.2020 घोषणा क" तार"ख/Date Of Pronouncement : 28.01.2021

For Appellant: Shri Vikram Vijayaraghavan, AdvocateFor Respondent: Shri Suresh Periasamy,JCIT
Section 143(3)Section 147Section 148Section 80JSection 8O

…n books of account or in other evidence does not necessarily mean that the assessee has disclosed fully and truly all material facts necessary for the assessment. 8 I.T.A. No.1175/CHNY/2019 The Delhi High Court in the case of Honda Siel Power Products Ltd., 340 ITR 53 also held that the explanation to seetionl47 stipulates that mere production of books of account or other evidence is not sufficient. Merely because material lies embedded in material or evidence, which the Assessing Officer could have uncovered but did not uncover, is not a good ground to deny or strike down a notice for assessment, Whether the A…

ACIT, CENTRAL CIRCLE - 4(3), KOLKATA vs. M/S. GRD COMMODITIES LTD., , KOLKATA

In the result, the appeals of the Revenue are dismissed and the cross objections of assessee are allowed

ITA 2277/KOL/2018[2014-15]Status: DisposedITAT Kolkata04 Dec 2020AY 2014-15

Bench: Shri P.M. Jagtap(Kz) &Shri A. T. Varkey, Jm] It(Ss)A Nos.120 To123/Kol/2018 Assessment Years: 2009-10 To 2012-13

Section 132Section 133ASection 143Section 143(3)Section 147Section 148Section 153A

…that there was no "true and fair disclosure" in view of the law laid down by this Court in Phool Chand BajrangLal's case (supra), and the judgment of the Delhi High Court in Honda Siel Power Products Ltd. v. Dy. CIT [2011] 110 taxmann 2/197 Taxman 415/[2012] 340 ITR 53 (Delhi). We have already referred to the judgment in Phool Chand's case (supra), wherein it was held that where the transaction of a particular assessment year is found to be a bogus transaction, the disclosures made could not be said to be all "true" and "full". Relying upon the said judgment the High Court held that merely because the 9 IT(SS)A…

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Honda Siel Power Products Ltd. v. Deputy CIT (340 ITR 53) — Cited in 78 Judgments | BharatTax