ICICI Prudential Life Insurance Co. Ltd. v. ACIT

JAY PRABHUDAS VITHALANI,JAMNAGAR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, JAMNAGAR

In the result, both the appeals of the same assessee (ITA No

Bench: Dr. Arjunlal Saini & Shri Dinesh Mohan Sinhaआयकर अपीलसं./Ita No. 75/Rjt/2025 (निर्धारणवर्ष / Assessment Year: (2021-22) (Hybrid Hearing) Jay Prabhudas Vithlani 201, Varajresidency, 8 – Patel Colony, Gujarat-361008 Vs. The Principal Commissioner Of Income Tax, Aayakar Bhavan, Nr. Subhash Bridge, Jamnagar Rajkot Highway Gujarat-361001 स्थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abcpv0266A (Appellant) (Respondent) आयकर अपीलसं./Ita No.74/Rjt/2025 (निर्धारणवर्ष / Assessment Year: (2021-22) Khushaboo Jaykumar Vithlani 201, Varajresidency, 8 – Patel Colony, Gujarat-361008 Vs. The Principal Commissioner Of Income Tax, Aayakar Bhavan, Lal Wadi Main Road, Kaushal Nagar, Gujarat - 361110 स्थायी लेखासं . / जी आइआरसं . / Pan/Gir.: Aefpv6723A (Appellant) (Respondent) Appellant By Respondent By Date Of Hearing Date Of Pronouncement : Shri Sagar Shah, Ld. Ar : Shri Sanjay Kumar, Ld. Cit(Dr) : 19/06/2025 : 05/08/2025 आदेश / Order Per Dinesh Mohan Sinha, Jm: Captioned Two Appeals Filed By The Different Assessee, Pertaining To Assessment Year (Ay) – 2021-22, Are Directed Against The Separate Order Passed By The Principal Commissioner Of Income Tax [(In Short "Ld. Pr.Cit”] U/S. 263 Of The Act, Both Orders Dated 24.01.2025. 2. Since, These Two Appeals Filed By The Different Assessee For Same

…w material brought on records-Reassessment on change of opinion of officer not valid." The copy of the order is enclosed at page no. 175 to 177. ii. The judgement is passed by High Court of Bombay, in the case of ICICI Prudential Life Insurance Co Ltd. (2010) 325 ITR 471 (Bom), it was held that, "Reopening of assessment on the same ground in the absence of any tangible material was based on mere change of opinion and therefore is not sustainable." Hence, based on the above-mentioned judicial pronouncements, in the absence of any specific evidence, the revisionary proceedings-initiated u/s 263 of the Act is bad in…

KHUSHBOO JAYKUMAR VITHLANI,JAMNAGAR vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX, JAMNAGAR, JAMNAGAR

In the result, both the appeals of the same assessee (ITA No

Bench: Dr. Arjunlal Saini & Shri Dinesh Mohan Sinhaआयकरअपीलसं./Ita No. 75/Rjt/2025 ("नधा"रणवष" / Assessment Year: (2021-22) (Hybrid Hearing) Jay Prabhudasvithlani Vs. The Principal Commissioner Of 201, Varajresidency, 8 – Patel Colony, Income Tax, Gujarat – 361008 Aayakar Bhavan, Nr. Subhash Bridge, Jamnagar Rajkot Highway Gujarat – 361001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abcpv0266A (Appellant) (Respondent)

…w material brought on records-Reassessment on change of opinion of officer not valid." The copy of the order is enclosed at page no. 175 to 177. ii. The judgement is passed by High Court of Bombay, in the case of ICICI Prudential Life Insurance Co Ltd. (2010) 325 ITR 471 (Bom), it was held that, "Reopening of assessment on the same ground in the absence of any tangible material was based on mere change of opinion and therefore is not sustainable." Hence, based on the above-mentioned judicial pronouncements, in the absence of any specific evidence, the revisionary proceedings-initiated u/s 263 of the Act is bad i…

ASSISSTANT COMMISSIONER OF INCOME TAX - 4(1), INDORE, INDORE vs. PRATAAP SNACKS LIMITED, INDORE

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

…आयकर अपीलीय अिधकरण, इंदौर "ायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA No.370 to 374/Ind/2023(AYs: 2012-13, 2013-14, 2017-18, 2020-21 & 2018-19 ) ACIT 4(1), Prataap Snacks Limited, बनाम/ Indore Khasra No.378/2, Vs. Nemawar Road, Near Markand House, (PAN: AAFCP0210P) Indore (Revenue/Appellant) (Assessee/Respondent) Cross-Objection No. 6 & 7/Ind/2024 (AYs:2012-13 & 2013-14) Prataap Snacks Limited, ACIT 4(1), बनाम/ Khasra No.378/2, Indore Vs. Nemawar Road, Near Markand House, Indore (PAN: AAFCP0210P)…

ASSISSTANT COMMISSIONER OF INCOME TAX - 4(1), INDORE, INDORE vs. PRATAAP SNACKS LIMITED, INDORE

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

…आयकर अपीलीय अिधकरण, इंदौर "ायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA No.370 to 374/Ind/2023(AYs: 2012-13, 2013-14, 2017-18, 2020-21 & 2018-19 ) ACIT 4(1), Prataap Snacks Limited, बनाम/ Indore Khasra No.378/2, Vs. Nemawar Road, Near Markand House, (PAN: AAFCP0210P) Indore (Revenue/Appellant) (Assessee/Respondent) Cross-Objection No. 6 & 7/Ind/2024 (AYs:2012-13 & 2013-14) Prataap Snacks Limited, ACIT 4(1), बनाम/ Khasra No.378/2, Indore Vs. Nemawar Road, Near Markand House, Indore (PAN: AAFCP0210P)…

ASSISSTANT COMMISSIONER OF INCOME TAX - 4(1), INDORE, INDORE vs. PRATAAP SNACKS LIMITED, INDORE

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

…आयकर अपीलीय अिधकरण, इंदौर "ायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA No.370 to 374/Ind/2023(AYs: 2012-13, 2013-14, 2017-18, 2020-21 & 2018-19 ) ACIT 4(1), Prataap Snacks Limited, बनाम/ Indore Khasra No.378/2, Vs. Nemawar Road, Near Markand House, (PAN: AAFCP0210P) Indore (Revenue/Appellant) (Assessee/Respondent) Cross-Objection No. 6 & 7/Ind/2024 (AYs:2012-13 & 2013-14) Prataap Snacks Limited, ACIT 4(1), बनाम/ Khasra No.378/2, Indore Vs. Nemawar Road, Near Markand House, Indore (PAN: AAFCP0210P)…

ASSISTANT COMMISSIONER OF INCOME TAX - 4(1), INDORE, INDORE vs. PRATAAP SNACKS LIMITED, INDORE

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

…आयकर अपीलीय अिधकरण, इंदौर "ायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA No.370 to 374/Ind/2023(AYs: 2012-13, 2013-14, 2017-18, 2020-21 & 2018-19 ) ACIT 4(1), Prataap Snacks Limited, बनाम/ Indore Khasra No.378/2, Vs. Nemawar Road, Near Markand House, (PAN: AAFCP0210P) Indore (Revenue/Appellant) (Assessee/Respondent) Cross-Objection No. 6 & 7/Ind/2024 (AYs:2012-13 & 2013-14) Prataap Snacks Limited, ACIT 4(1), बनाम/ Khasra No.378/2, Indore Vs. Nemawar Road, Near Markand House, Indore (PAN: AAFCP0210P)…

ASSISTANT COMMISSIONER OF INCOME TAX - 4(1), INDORE, INDORE vs. PRATAAP SNACKS LIMITED, INDORE

In the result revenue’s appeal is dismissed and assessee’s cross-objection is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

…आयकर अपीलीय अिधकरण, इंदौर "ायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA No.370 to 374/Ind/2023(AYs: 2012-13, 2013-14, 2017-18, 2020-21 & 2018-19 ) ACIT 4(1), Prataap Snacks Limited, बनाम/ Indore Khasra No.378/2, Vs. Nemawar Road, Near Markand House, (PAN: AAFCP0210P) Indore (Revenue/Appellant) (Assessee/Respondent) Cross-Objection No. 6 & 7/Ind/2024 (AYs:2012-13 & 2013-14) Prataap Snacks Limited, ACIT 4(1), बनाम/ Khasra No.378/2, Indore Vs. Nemawar Road, Near Markand House, Indore (PAN: AAFCP0210P)…

THE INCOME TAX OFFICER WARD, 2, RAIGARH(CG) vs. SHRI SHRI BISHAMBHAR DAYAL AGRAWAL, JASHPUR (C.G.)

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 223/Rpr/2016 "नधा"रण वष" / Assessment Year : 2010-11 The Income Tax Officer-2, Raigarh (C.G.)

…nnot be allowed. In our opinion, therefore, in the present case also, it was not permissible for respondent No. 1 to issue notice under s. 148". Further, the Hon'ble High Court of Bombay in the case of ICICI Prudential Life Insurance Co. Ltd. Vs. ACIT (2010) 325 ITR 471 (Bom), had relied on the judgment of the Hon’ble Supreme Court in the case of Kelvinator of India (supra), and held as under: 23. Though the power to reopen an assessment within a period of four years of the expiry of the relevant assessment year is wide, it is still structured by the existence of a reason to believe that income chargeable to ta…

NALINI PARWANI, RAIPUR,RAIPUR vs. INCOME TAX OFFICER, WARD 3(1), RAIPUR, RAIPUR

In the result, the appeal of the assessee is allowed in terms of the aforesaid observations

Bench: Shri Ravish Soodआयकर अपील सं. / Ita No. 249/Rpr/2023 "नधा"रण वष" / Assessment Year : 2013-14 Nalini Parwani C/O. G.K Automobiles P. Ltd. Opp. Kabir Nagar, Gate No.2. Ring Road-2, Sondongri, Raipur (C.G.)-492 001 Pan : Aeqpp5635N .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer, Ward-3(1), Raipur (C.G.)

…n the present case also, it was not permissible for respondent No. 1 to issue notice under s. 148". 11 Nalini Parwani Vs. ITO, Ward-3(1), Raipur Further, the Hon'ble High Court of Bombay in the case of ICICI Prudential Life Insurance Co. Ltd. Vs. ACIT (2010) 325 ITR 471 (Bom), had relied on the judgment of the Hon’ble Supreme Court in the case of Kelvinator of India (supra), and held as under: 23. Though the power to reopen an assessment within a period of four years of the expiry of the relevant assessment year is wide, it is still structured by the existence of a reason to believe that income chargeable to ta…

DCIT KHANDWA, KHANDWA vs. M/S RAJRAJESHWAR COTTON CORPORATION, SENDHWA

In the result, Revenue’s appeal as well as Assessee’s Cross-

Bench: Shri Siddhartha Nautiyal & Shri B.M. Biyani(Conducted Through Virtual Court) & C.O. No. 9/Ind/2020 Assessment Year: 2011-12 Dcit M/S Raj Rajeshwar Cotton Khandwa Corporation, बनाम/ Warla Road, Sendhwa, Vs. District - Khandwa (Appellant / Revenue) (Respondent / Assessee) Pan: Aagfr 6243 N Assessee By None Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 12.10.2022 Date Of Pronouncement 21.10.2022

…jeshwar Cotton Corporation ITA No.573/Ind/2019 & CO 9/Ind/2020 Assessment year 2011-12 a. Asteroids Trading & Investment P Ltd vs DeIT (2009) 308 ITR 190 (Born) b. Asian Paints Ltd vs DCIT (2008) 308 ITR 195 (Born) (198) c. ICICI Life Insurance Co Ltd (2010) 325 ITR 471 [Born] d. Aventis Pharma Ltd. vs. ACIT (2010) 323 ITR 570 (Bom)(577) e. Nirmal Bang Securities (P) Ltd. vs. ACIT (2016) 382 ITR 93(Bom)(HC) f. Aryan Arcade Ltd vs Den (2017) 4.14 During the assessment proceedings, if new facts, material or information comes to the knowledge of the AO, which was not on record and available at the time of the asses…

THE INCOME TAX OFFICER -1, RAIGARH, RAIGARH(CG) vs. SHRI SHRI PARMANAND GUPTA, RAIGARH, RAIGARH(CG)

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 82/Rpr/2017 Co. No. 02/Rpr/2022 "नधा"रण वष" / Assessment Year : 2008-09 The Income Tax Officer-1, Raigarh (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. Shri Parmanand Gupta, Alochan Agrawal, L/H. Of Late Shri Parmanand Gupta, Prop. M/S. Balaji Handloom, 19/48, Palace Road, Raigarh (C.G.) Pan : Afdpg4961L ……""यथ" / Respondent

…annot be allowed. In our opinion, therefore, in the present case also, it was not permissible for respondent No. 1 to issue notice under s. 148". Further, the Hon'ble High Court of Bombay in the case of ICICI Prudential Life Insurance Co. Ltd. Vs. ACIT (2010) 325 ITR 471 (Bom), after relying on the judgment of the Hon’ble Supreme Court in the case of Kelvinator of India (supra), had held as under: “23. Though the power to reopen an assessment within a period of four years of the expiry of the relevant assessment year is wide, it is still structured by the existence of a reason to believe that income chargeable to…

SHRI ABHAY KUMAR JAIN,RAIPUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -3(1), RAIPUR

In the result, appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 23/Rpr/2018 "नधा"रण वष" / Assessment Year : 2008-09 Shri Abhay Kumar Jain, Prop. M/S. Jain Fabrics, Mahalaxmi Market, Pandri, Raipur (C.G.) Pan : Achpj5173C .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax-3(1), Raipur (C.G.) ……""यथ" / Respondent

…annot be allowed. In our opinion, therefore, in the present case also, it was not permissible for respondent No. 1 to issue notice under s. 148". Further, the Hon'ble High Court of Bombay in the case of ICICI Prudential Life Insurance Co. Ltd. Vs. ACIT (2010) 325 ITR 471 (Bom), relying on the judgment of the Hon’ble Supreme Court in the case of Kelvinator of India (supra), had held as under: “23. Though the power to reopen an assessment within a period of four years of the expiry of the relevant assessment year is wide, it is still structured by the existence of a reason to believe that income chargeable to tax h…

THE ASSISTANT COMMISSIONER OF INCOME-TAX-CENTRAL CIRCLE-1,RAIPUR, RAIPUR (CG) vs. SHRI SHRI RAKESH PANDEY, RAIPUR, RAIPUR (CG)

In the result, appeal of the Revenue in ITA No

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकरअपीलसं. / Ita Nos. 08 & 09/Rpr/2017 "नधा"रणवष" / Assessment Years : 2008-09 & 2009-10

…not permissible for respondent No. 1 to issue notice under s. 148". 9 ACIT, Central Circle-1 Vs. Shri Rakesh Pandey ITA Nos. 08 & 09 /RPR/2017 Further, the Hon'ble High Court of Bombay in the case of ICICI Prudential Life Insurance Co. Ltd. Vs. ACIT (2010) 325 ITR 471 (Bom), relying on the judgment of the Hon’ble Supreme Court in the case of Kelvinator of India (supra), had held as under: 23. Though the power to reopen an assessment within a period of four years of the expiry of the relevant assessment year is wide, it is still structured by the existence of a reason to believe that income chargeable to tax ha…

M/S CMDC ICPL COAL LIMITED,RAIPUR (CG) vs. THE INCOME TAX OFFICER, 3(1), RAIPUR (CG)

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita Nos. 348, 349 & 350/Rpr/2016 "नधा"रण वष" / Assessment Years : 2009-10, 2010-11 & 2012-13 Cmdc Icpl Coal Limited House No.382, Sunder Nagar, Raipur-492 013 (C.G.) Pan : Aadcc4374P .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer 3(1), Raipur (C.G.) ……""यथ" / Respondent Assessee By : Shri R.B Doshi, Ca Revenue By : Shri G.N Singh, Dr

…annot be allowed. In our opinion, therefore, in the present case also, it was not permissible for respondent No. 1 to issue notice under s. 148". Further, the Hon'ble High Court of Bombay in the case of ICICI Prudential Life Insurance Co. Ltd. Vs. ACIT (2010) 325 ITR 471 (Bom), relying on the judgment of the Hon’ble Supreme Court in the case of Kelvinator of India (supra), had held as under: “23. Though the power to reopen an assessment within a period of four years of the expiry of the relevant assessment year is wide, it is still structured by the existence of a reason to believe that income chargeable to tax h…

M/S CMDC ICPL COAL LIMITED,RAIPUR (CG) vs. THE INCOME TAX OFFICER, 3(1), RAIPUR (CG)

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita Nos. 348, 349 & 350/Rpr/2016 "नधा"रण वष" / Assessment Years : 2009-10, 2010-11 & 2012-13 Cmdc Icpl Coal Limited House No.382, Sunder Nagar, Raipur-492 013 (C.G.) Pan : Aadcc4374P .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer 3(1), Raipur (C.G.) ……""यथ" / Respondent Assessee By : Shri R.B Doshi, Ca Revenue By : Shri G.N Singh, Dr

…annot be allowed. In our opinion, therefore, in the present case also, it was not permissible for respondent No. 1 to issue notice under s. 148". Further, the Hon'ble High Court of Bombay in the case of ICICI Prudential Life Insurance Co. Ltd. Vs. ACIT (2010) 325 ITR 471 (Bom), relying on the judgment of the Hon’ble Supreme Court in the case of Kelvinator of India (supra), had held as under: “23. Though the power to reopen an assessment within a period of four years of the expiry of the relevant assessment year is wide, it is still structured by the existence of a reason to believe that income chargeable to tax h…

M/S CMDC ICPL COAL LIMITED,RAIPUR (CG) vs. THE INCOME TAX OFFICER, 3(1), RAIPUR (CG)

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita Nos. 348, 349 & 350/Rpr/2016 "नधा"रण वष" / Assessment Years : 2009-10, 2010-11 & 2012-13 Cmdc Icpl Coal Limited House No.382, Sunder Nagar, Raipur-492 013 (C.G.) Pan : Aadcc4374P .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer 3(1), Raipur (C.G.) ……""यथ" / Respondent Assessee By : Shri R.B Doshi, Ca Revenue By : Shri G.N Singh, Dr

…annot be allowed. In our opinion, therefore, in the present case also, it was not permissible for respondent No. 1 to issue notice under s. 148". Further, the Hon'ble High Court of Bombay in the case of ICICI Prudential Life Insurance Co. Ltd. Vs. ACIT (2010) 325 ITR 471 (Bom), relying on the judgment of the Hon’ble Supreme Court in the case of Kelvinator of India (supra), had held as under: “23. Though the power to reopen an assessment within a period of four years of the expiry of the relevant assessment year is wide, it is still structured by the existence of a reason to believe that income chargeable to tax h…