(i) Parsharam Pottery Works Co. Ltd. v. ITO, 106 ITR (SC); Siesa Inds

COMMISSIONER OF INCOME TAX vs. VLS FINANCE LTD.

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MS. JUSTICE REVA KHETRAPAL

…mission on the part of the assessee as envisaged u/s 147 and therefore, he did not acquire any jurisdiction to issue notices, other case laws supporting this proposition of law (i) Parsharam Pottery Works Co. Ltd. v. ITO, 106 ITR (SC); Siesa Inds. v.CIT, 178 ITR 437; and (ii) Berger Paints India Ltd. & Ors. v. JCIT, 245 ITR 645(Cal).” ITAs No.277/2008 and 278/2008 Page 5 of 6 2. The learned counsel for the appellant made a vehement submission to the effect that when the assessee was a finance company, making a claim u…

COMMISSIONER OF INCOME TAX vs. VLS FINANCE LTD.

…or omission on the part of the assessee as envisaged u/s 147 and therefore, he did not acquire any jurisdiction to issue notices, other case laws supporting this proposition of law (i) Parsharam Pottery Works Co. Ltd. v. ITO, 106 ITR (SC); Siesa Inds. v.CIT, 178 ITR 437; and (ii) Berger Paints India Ltd. & Ors. v. JCIT, 245 ITR 645(Cal)." 2. The learned counsel for the appellant made a vehement  making a claim under Section 35D on the premise that it was an industrial undertaking clearly amounted to not making true disclosure and therefore the assessment could be re-opened even beyo…

COMMISSIONER OF INCOME TAX vs. VLS FINANCE LTD.

…mission on the part of the assessee as envisaged u/s 147 and therefore, he did not acquire any jurisdiction to issue notices, other case laws supporting this proposition of law (i) Parsharam Pottery Works Co. Ltd. v. ITO, 106 ITR (SC); Siesa Inds. v.CIT, 178 ITR 437; and (ii) Berger Paints India Ltd. & Ors. v. JCIT, 245 ITR 645(Cal).” 2010:DHC:4087-DB 2. The learned counsel for the appellant made a vehement submission to the effect that when the assessee was a finance company, making a claim under Section 35D on the premise that it was an industrial undertaking clearly amounted to not making true…