Indian Hume Pipe Co. Ltd. v. Asst. CIT

348 ITR 439High Court2012#1887 most cited

What is Indian Hume Pipe Co. Ltd. v. Asst. CIT authority for?

Full and true disclosure of material facts under Section 147/148 requires the assessee to explicitly reveal all essential details; merely filing documents where critical facts (like investment dates for Section 54EC claims) are hidden or not clearly mentioned does not constitute such disclosure.

61

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2023.

Also referred to as

Indian Hume Pipe Co. Ltd. · Section 147 · Section 148 · full and true disclosure · material facts · reassessment · Section 54EC exemption · obligation of assessee · hidden information · investment date disclosure · first proviso to section 147

Issues it is cited on

section 147(b)section 35ddtest of enduring benefitsection 72asection 147(a)section 115jaasection 2(31)true and full disclosuresection 39section 54ecfirst proviso to section 147resulting company

Judgments citing Indian Hume Pipe Co. Ltd. v. Asst. CIT

SHRIFAL IMPEX PRIVATE LIMITED,SURAT vs. INCOME TAX OFFICER, WARD - 2(1)(3), SURAT

ITA 250/SRT/2023[2014-15]Status: DisposedITAT Surat29 Dec 2023AY 2014-15

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.190 To 191/Srt/2023 Assessment Year: (2011-12 To 2012-13) (Physical Hearing) Shrifal Impex Private Limited, Vs. The Ito, No.504, 5Th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Thoba Sheri, Surat Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaocs4409E (Appellant) (Respondent) आयकर अपील सं./Ita No.250/Srt/2023 Assessment Year: (2014-15) Shrifal Impex Private Limited, Vs. The Ito, No.504, 5Th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Thoba Sheri, Surat Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaocs4409E (Appellant) (Respondent)

Section 143(3)Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM आयकर अपील सं./ITA Nos.190 to 191/SRT/2023 Assessment Year: (2011-12 to 2012-13) (Physical Hearing) Shrifal Impex Private Limited, Vs. The ITO, No.504, 5th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Thoba Sheri, Surat Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAOCS4409E (Appellant) (Respondent) आयकर अपील सं./ITA No.250/SRT/2023 Assessment Year: (2014-15) Shrifal Impex Private Limited, Vs. The ITO, No.504, 5th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Th…

SHRIFAL IMPEX PVT. LTD.,,SURAT vs. INCOME TAX OFFICER, WARD - 2(1)(3), SURAT

ITA 191/SRT/2023[2012-13]Status: DisposedITAT Surat29 Dec 2023AY 2012-13

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.190 To 191/Srt/2023 Assessment Year: (2011-12 To 2012-13) (Physical Hearing) Shrifal Impex Private Limited, Vs. The Ito, No.504, 5Th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Thoba Sheri, Surat Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaocs4409E (Appellant) (Respondent) आयकर अपील सं./Ita No.250/Srt/2023 Assessment Year: (2014-15) Shrifal Impex Private Limited, Vs. The Ito, No.504, 5Th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Thoba Sheri, Surat Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaocs4409E (Appellant) (Respondent)

Section 143(3)Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM आयकर अपील सं./ITA Nos.190 to 191/SRT/2023 Assessment Year: (2011-12 to 2012-13) (Physical Hearing) Shrifal Impex Private Limited, Vs. The ITO, No.504, 5th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Thoba Sheri, Surat Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAOCS4409E (Appellant) (Respondent) आयकर अपील सं./ITA No.250/SRT/2023 Assessment Year: (2014-15) Shrifal Impex Private Limited, Vs. The ITO, No.504, 5th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Th…

SHRIFAL IMPEX PVT. LTD.,,SURAT vs. INCOME TAX OFFICER, WARD - 2(1)(3), SURAT

ITA 190/SRT/2023[2011-12]Status: DisposedITAT Surat29 Dec 2023AY 2011-12

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.190 To 191/Srt/2023 Assessment Year: (2011-12 To 2012-13) (Physical Hearing) Shrifal Impex Private Limited, Vs. The Ito, No.504, 5Th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Thoba Sheri, Surat Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaocs4409E (Appellant) (Respondent) आयकर अपील सं./Ita No.250/Srt/2023 Assessment Year: (2014-15) Shrifal Impex Private Limited, Vs. The Ito, No.504, 5Th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Thoba Sheri, Surat Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaocs4409E (Appellant) (Respondent)

Section 143(3)Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM आयकर अपील सं./ITA Nos.190 to 191/SRT/2023 Assessment Year: (2011-12 to 2012-13) (Physical Hearing) Shrifal Impex Private Limited, Vs. The ITO, No.504, 5th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Thoba Sheri, Surat Mahidharpura, Surat – 395003. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAOCS4409E (Appellant) (Respondent) आयकर अपील सं./ITA No.250/SRT/2023 Assessment Year: (2014-15) Shrifal Impex Private Limited, Vs. The ITO, No.504, 5th Floor, H. No.6/B/1739- Ward-2(1)(3), 1380, Parshwa Complex Th…

ULTRATECH CEMENT LIMITED,MUMBAI vs. ACIT- CC -1(4), MUMBAI

ITA 221/MUM/2022[2012-13]Status: DisposedITAT Mumbai03 Aug 2023AY 2012-13

Bench: Shri Kuldip Singh & Shri S Rifaur Rahmanassessment Year: 2012-13

For Appellant: Shri. Nitesh Joshi, A.R. &For Respondent: Shri. Alok Kumar, CIT DR
Section 132Section 143(3)Section 153CSection 35D

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “F”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI S RIFAUR RAHMAN, ACCOUNTANT MEMBER Assessment Year: 2012-13 M/s. Ultra Tech Cement Jt. Commissioner of Ltd., Income Tax, Ahura Centre, B wing, Central Circle -1(4), 2nd Floor, Room No.902, 9th Floor, Vs. Mahakali Caves Road, Pratishtha Bhavan, Andheri(E), Old CGO Annexe, Mumbai-400093 Maharishi Karve Road, PAN: AAACL6442L Mumbai- 400020 (Appellant) (Respondent) Present for: Assessee by : Shri. Nitesh Joshi, A.R. & Shri Sumit Jain, A.R. Revenue by : Shri. Alok Kumar, CIT DR Date of Hearing : 08. 05…

JT. CIT (ODS) - CC -1(4), MUMBAI vs. ULTRATECH CEMENT LTD., MUMBAI

In the result, appeal filed by the revenue is dismissed

ITA 222/MUM/2022[2014-15]Status: DisposedITAT Mumbai28 Jun 2023AY 2014-15

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

…ing facts make the decisions relied upon by the Ld.DR is distinguishable. 35. We observe that the Assessing Officer and the Ld.CIT(A) further drew support from the decision of the Hon’ble Jurisdictional High Court in case of Indian Hume Pipe Co. Ltd v. ACIT [348 ITR 439] to contend that full and true disclosure of material facts u/s 148 means disclosure must be full and true and same cannot be gargled or hidden in the crevices of documentary material which have been filed by the assessee with the Assessing Officer. Page No. 33 ITA NO. 1789 & 1466/MUM/2021 (A.Y: 2013-14) ITA NO. 222 & 220/MUM/2022 (A.Y: 2014-15)…

ULTRA TECH CEMENT LIMITED,MUMBAI vs. ACIT- CC 1(4), MUMBAI

In the result, appeal filed by the revenue is dismissed

ITA 220/MUM/2022[2014-15]Status: DisposedITAT Mumbai28 Jun 2023AY 2014-15

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

…ing facts make the decisions relied upon by the Ld.DR is distinguishable. 35. We observe that the Assessing Officer and the Ld.CIT(A) further drew support from the decision of the Hon’ble Jurisdictional High Court in case of Indian Hume Pipe Co. Ltd v. ACIT [348 ITR 439] to contend that full and true disclosure of material facts u/s 148 means disclosure must be full and true and same cannot be gargled or hidden in the crevices of documentary material which have been filed by the assessee with the Assessing Officer. Page No. 33 ITA NO. 1789 & 1466/MUM/2021 (A.Y: 2013-14) ITA NO. 222 & 220/MUM/2022 (A.Y: 2014-15)…

DCIT CIR 1(4) , MUMBAI vs. M/S. ULTRATECH CEMENT LTD, MUMBAI

In the result, appeal filed by the revenue is dismissed

ITA 1789/MUM/2021[2013-14]Status: DisposedITAT Mumbai28 Jun 2023AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

…ing facts make the decisions relied upon by the Ld.DR is distinguishable. 35. We observe that the Assessing Officer and the Ld.CIT(A) further drew support from the decision of the Hon’ble Jurisdictional High Court in case of Indian Hume Pipe Co. Ltd v. ACIT [348 ITR 439] to contend that full and true disclosure of material facts u/s 148 means disclosure must be full and true and same cannot be gargled or hidden in the crevices of documentary material which have been filed by the assessee with the Assessing Officer. Page No. 33 ITA NO. 1789 & 1466/MUM/2021 (A.Y: 2013-14) ITA NO. 222 & 220/MUM/2022 (A.Y: 2014-15)…

M/S. ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CENT CIR-1(4) , MUMBAI

In the result, appeal filed by the revenue is dismissed

ITA 1466/MUM/2021[2013-14]Status: DisposedITAT Mumbai28 Jun 2023AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

Section 143(3)Section 35D

…ing facts make the decisions relied upon by the Ld.DR is distinguishable. 35. We observe that the Assessing Officer and the Ld.CIT(A) further drew support from the decision of the Hon’ble Jurisdictional High Court in case of Indian Hume Pipe Co. Ltd v. ACIT [348 ITR 439] to contend that full and true disclosure of material facts u/s 148 means disclosure must be full and true and same cannot be gargled or hidden in the crevices of documentary material which have been filed by the assessee with the Assessing Officer. Page No. 33 ITA NO. 1789 & 1466/MUM/2021 (A.Y: 2013-14) ITA NO. 222 & 220/MUM/2022 (A.Y: 2014-15)…

HITESH CHHATWAL,MUMBAI vs. DCIT CC -5(4), MUMBAI

In the result, the appeals of the assessee are allowed while for the appeal of the revenue are dismissed

ITA 6418/MUM/2019[2011-12]Status: DisposedITAT Mumbai24 Jun 2022AY 2011-12

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh

For Appellant: Mani JainFor Respondent: Vinay Sinha
Section 54F

…ion of the assessing officer. Full and true disclosure is necessary as held in Sri Krishna P.Ltd.Vs. ITO (1996) 221 ITR 538 (SC). Full and true disclosure of material facts means specific disclosure of each fact as held in The Indian Hume Pipe Co. Ltd. v ACIT 348 ITR 439 (Bom). A perusal of the reasons recorded clearly show that the A.O. has applied his mind on the information received from the investigation wing containing results of investigation. 11 Appeals Shri Hitesh Chhatwal Vs. DCIT, CC-5(4) 39 4.6. It is trite law that for reopening the assessment the A.O has to merely form reason to believe that income…

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

ITA 350/BIL/2016[2012-13]Status: DisposedITAT Raipur09 May 2022AY 2012-13

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

For Appellant: Shri R.B Doshi, CAFor Respondent: Shri G.N Singh, DR
Section 139Section 143(3)Section 147Section 148

…assessment. The assessee had not specifically claimed the interest income as exempt but it had adjusted the interest with capital expenses. The claim was thus hidden in the books of accounts. It could be know to the AO only after due diligence. In the case of 348 ITR 439 BOM 2012 Indian Humepipe Comp. I Ltd. Vs. CIT Central, it has been held that where full facts were not disclosed by the assessee during assessment, reopening is valid. Mere production of account books from which material evidence could have been discovered with due diligence, does not necessarily amount to disclosure within meaning of first provi…

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

ITA 349/BIL/2016[2010-11]Status: DisposedITAT Raipur09 May 2022AY 2010-11

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

For Appellant: Shri R.B Doshi, CAFor Respondent: Shri G.N Singh, DR
Section 139Section 143(3)Section 147Section 148

…assessment. The assessee had not specifically claimed the interest income as exempt but it had adjusted the interest with capital expenses. The claim was thus hidden in the books of accounts. It could be know to the AO only after due diligence. In the case of 348 ITR 439 BOM 2012 Indian Humepipe Comp. I Ltd. Vs. CIT Central, it has been held that where full facts were not disclosed by the assessee during assessment, reopening is valid. Mere production of account books from which material evidence could have been discovered with due diligence, does not necessarily amount to disclosure within meaning of first provi…

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

ITA 348/BIL/2016[2009-10]Status: DisposedITAT Raipur09 May 2022AY 2009-10

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

For Appellant: Shri R.B Doshi, CAFor Respondent: Shri G.N Singh, DR
Section 139Section 143(3)Section 147Section 148

…assessment. The assessee had not specifically claimed the interest income as exempt but it had adjusted the interest with capital expenses. The claim was thus hidden in the books of accounts. It could be know to the AO only after due diligence. In the case of 348 ITR 439 BOM 2012 Indian Humepipe Comp. I Ltd. Vs. CIT Central, it has been held that where full facts were not disclosed by the assessee during assessment, reopening is valid. Mere production of account books from which material evidence could have been discovered with due diligence, does not necessarily amount to disclosure within meaning of first provi…

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 8,, PUNE vs. M/S. ALFA LAVAL INDIA LTD,, PUNE

In the result, appeal of the Revenue is dismissed

ITA 2173/PUN/2017[2003-04]Status: DisposedITAT Pune15 Mar 2022AY 2003-04

Bench: Shri Partha Sarathi Chaudhury, Jm & Dr. Dipak P. Ripote, Am आयकरअपीलसं. / Ita No.2173/Pun/2017 िनधा"रण वष" / Assessment Year : 2003-04 The Dy.Cit, .......अपीलाथ" /Appellant Circle-8, Pune. बनाम / V/S. M/S.Alfa Laval India Ltd., S.No.2221 A, Mumbai – Pune Road, Dapodi, Near Kasarwadi, Pune – 411 012. ……""यथ" / Respondent Pan: Aaaca 5899 A Revenue By : Shri S.P.Walimbe - Dr Assessee By : Shri Nikhil S Pathak - Ar सुनवाई क" तारीख / Date Of Hearing : 10.03.2022 घोषणा क" तारीख / Date Of Pronouncement : 15.03.2022 आदेश / Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Revenue Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-6, Pune Dated 01.05.2017 For The Assessment Year 2003-04. The Revenue Raised The Following Grounds Of Appeal: “1. Whether On The Facts & In The Circumstances Of The Case & In Law The Ld.Cit(A) Is Correct In Holding The Reopening Of Assessment U/S.147 As Bad In Law? 2. Whether On The Facts & In The Circumstances Of The Case & In Law The Ld.Cit(A) Is Justified In Not Appreciating That The Mistake In The Original Assessment Due To Erroneous Construction Or Due To Non-Consideration Of The Conditions Required To Be Eligible For Claiming Deduction U/S

For Appellant: Shri Nikhil S Pathak - ARFor Respondent: Shri S.P.Walimbe - DR
Section 143(1)Section 143(3)Section 147Section 148Section 80H

…omponent Ltd. {supra), the initiation of proceedings under s. 147 of the Act is liable to be set aside. We hold so. 15. Before parting, we may refer to the judgment of the Hon'ble Bombay High Court in the case of Indian Hume Pipe Co. Ltd. v. Asstt. CIT1~20121 348 ITR 439/204 Taxman 347/16 taxmann.com 190 which has been relied upon by the CIT(A) and the. Revenue before us to support the initiation of proceedings under s. 147 of the Act. In the case before the Hon'ble High Court, issue related to reopening of assessment after the end of four years ITA No.2173/PUN/2017 for A.Y. 2003-04 Alfa Laval India Ltd. (R) fr…

NITAN CHHATWAL,MUMBAI vs. DCIT CC -5(4), MUMBAI

In the result, the appeal of the assessee in ITA

ITA 6422/MUM/2019[2011-12]Status: DisposedITAT Mumbai25 Oct 2021AY 2011-12

Bench: Shri Rajesh Kumar, Am & Shri Ravish Sood, Jm

For Appellant: Shri Rahul RamanFor Respondent: Shri Mani Jain
Section 132Section 143(3)Section 147Section 148Section 148(2)Section 14A

…tion of the assessing officer. Full and true disclosure is necessary as held in Sri Krishna P, Ltd. v JTO (1996) 221 ITR 53S(SC). Full and true disclosure of material facts means specific disclosure of each fact as held in The Indian Hume Pipe Co. Ltd. v ACIT 348 ITR 439 (Bom). A perusal of the reasons recorded clearly show that the A.O. has applied his mind on the information received from the investigation wing containing results of investigation. 4.6. It is trite law that for reopening the assessment the A.O has to merely form reason to believe that income has escaped assessment. The reassessment proceedings…

DCIT-CC-5(4), MUMBAI, MUMBAI vs. SHRI NITAN CHHATWAL , MUMBAI

In the result, the appeal of the assessee in ITA

ITA 6351/MUM/2019[2011-12]Status: DisposedITAT Mumbai25 Oct 2021AY 2011-12

Bench: Shri Rajesh Kumar, Am & Shri Ravish Sood, Jm

For Appellant: Shri Rahul RamanFor Respondent: Shri Mani Jain
Section 132Section 143(3)Section 147Section 148Section 148(2)Section 14A

…tion of the assessing officer. Full and true disclosure is necessary as held in Sri Krishna P, Ltd. v JTO (1996) 221 ITR 53S(SC). Full and true disclosure of material facts means specific disclosure of each fact as held in The Indian Hume Pipe Co. Ltd. v ACIT 348 ITR 439 (Bom). A perusal of the reasons recorded clearly show that the A.O. has applied his mind on the information received from the investigation wing containing results of investigation. 4.6. It is trite law that for reopening the assessment the A.O has to merely form reason to believe that income has escaped assessment. The reassessment proceedings…

EMPEE DISTILLERIES LTD.,CHENNAI vs. ACIT CORPORATE CIRCLE 2(1), CHENNAI

In the result, the assessee’s appeal is dismissed

ITA 2699/CHNY/2017[2005-06]Status: DisposedITAT Chennai13 Jan 2020AY 2005-06

Bench: Shri N.R.S. Ganesan & Shri S. Jayaraman

For Respondent: 16.10.2019
Section 143(3)Section 147Section 148Section 41(1)Section 47

…assessment. The contention of the AR is not acceptable because the above facts reveal that the income of the ITA Nos.2699/Chny/2017 appellant was not offered to tax . In this regard, the ld. CIT(A) relied on various decisions viz., Indian Home Pipe Co. Ltd., 348 ITR 439 (BOM), and a Siel Power Products Ltd., 340 ITR 53 (Del), Kantamani Venkatesh Narayana & Sons v. Addl. ITO 63 ITR 638 SC, ITO v. Electro Steel Castings Ltd., 264 ITR 410 (Cal), Rajesh Jhaveri Stock Brokers P. Ltd., 291 ITR 500 SC, Kelvinator of India 187 Taxman 312 SC etc . In view of the above Judgements, the ld. CIT(A) held that until otherw…

OLEOFINE ORGANICS (INDIA) P.LTD,MUMBAI vs. DCIT CIR 10(2), MUMBAI

In the result, the appeal of the assessee with regard to limited purpose of Ground No

ITA 5831/MUM/2014[2006-07]Status: DisposedITAT Mumbai16 Oct 2019AY 2006-07

Bench: Shri Mahavir Singh, Jm & Shri M.Balaganesh, Am M/S. Oleofine Organics Vs. The Deputy Commissioner (India) Pvt.Ltd. Of Income Tax, Circle-10(2) 101/B, Fine House Aayakar Bhavan Anandji Lane New Marine Lines Off. M.G. Road Mumbai – 400 020 Ghatkopar (E) Mumbai – 400 077 Pan/Gir No. Aaaco1352Q (Appellant) .. (Respondent)

Section 143(3)Section 147Section 148Section 80I

…ts that are necessary for the assessment. Hence, the reliance placed by the ld. DR on this decision would also not come to the rescue of the revenue. e) Decision of Hon’ble Jurisdictional High Court in the case of Indian Hume Pipe Co. Ltd vs. ACIT reported in 348 ITR 439 (Bom) We find that in this case, the assessee has challenged the legality of reopening notice issued u/s.148 in writ petition No.1017/11. We find in this case that the assessee had made claim of exemption u/s.54EC of the Act in the computation of income but the date on which the amounts M/s. Oleofine Organics (India) Pvt. Ltd. were invested were…

ITO 13(3)(3), MUMBAI vs. VULVAN TRADERS P. LTD, MUMBAI

ITA 4137/MUM/2015[2008-09]Status: DisposedITAT Mumbai30 Jan 2019AY 2008-09

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Years: 2008-09 Income Tax Officer-13(3)(3), M/S Vulvan Traders, 805, Room No.227,02Nd Floor, A Wingh, Corporate Avenue, बनाम/ Aayakar Bhavan, Sonawala Raod, Vs. M. K. Road, Goregaon East, Mumbai-400020 Mumbai-400063 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No.Aaacv1603K Assessment Years: 2008-09 M/S Vulvan Traders, 805, Income Tax Officer-13(3)(3), A Wingh, Corporate Room No.227,02Nd Floor, बनाम/ Avenue, Sonawala Raod, Aayakar Bhavan, Vs. Goregaon East, M. K. Road, Mumbai-400063 Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No.Aaacv1603K

Section 143(1)Section 147Section 148

…id. 2.11. In the case of Deputy CIT v. Gopal Ramnarayan Kasat, (2010) 328 ITR 556 (Bom), it was not the case of the assessee that the notice issued was after the expiry of the time limit provided in section 153(2). The reassessment Ltd. v. Asst. CIT, (2012) 348 ITR 439 (Bom), both in the computation of taxable long-term capital gains in the original return of income and in the computation that was submitted in response to the query of the Assessing Officer there was a complete silence in regard to the dates on which the amounts were invested, as such there being a failure to disclose fully and truly material f…

ACIT NON CORP CIRCLE 1 (1) FORMERLY KNOWN AS BUSINESS CIRCLE 1, CHENNAI vs. M/S DEOLITE HASKINS & SELLS, CHENNAI

ITA 2580/CHNY/2017[2014-15]Status: DisposedITAT Chennai06 Dec 2018AY 2014-15

Bench: Shri Joginder Singh & Shri A.Mohan Alankamony

For Appellant: Mr.AR.V.Sreenivasan,JCIT,D.RFor Respondent: Mr.S.P.Chidambaram,Advocate
Section 143(3)Section 37(1)

…t, (2010) 328 ITR 556 (Bom), it was not the case of the assessee that the notice issued was after the expiry of the time limit provided in section 153(2). The reassessment proceedings were held to be valid. In Indian Hume Pipe Co. Ltd. v. Asst. CIT, (2012) 348 ITR 439 (Bom), both in the computation of taxable long-term capital gains in the original return of income and in the computation that was submitted in response to the query of the ITA Nos.2578 to 2580/chny/2017 :- 31 -: C.O.Nos.47to 49/Chny/2018 M/s.Deloittee Haskins & Sells Assessing Officer there was a complete silence in regard to the dates on whic…

ACIT NON CORP CIRCLE 1 (1) FORMERLY KNOWN AS BUSINESS CIRCLE 1, CHENNAI vs. M/S DEOLITE HASKINS & SELLS, CHENNAI

ITA 2579/CHNY/2017[2013-14]Status: DisposedITAT Chennai06 Dec 2018AY 2013-14

Bench: Shri Joginder Singh & Shri A.Mohan Alankamony

For Appellant: Mr.AR.V.Sreenivasan,JCIT,D.RFor Respondent: Mr.S.P.Chidambaram,Advocate
Section 143(3)Section 37(1)

…t, (2010) 328 ITR 556 (Bom), it was not the case of the assessee that the notice issued was after the expiry of the time limit provided in section 153(2). The reassessment proceedings were held to be valid. In Indian Hume Pipe Co. Ltd. v. Asst. CIT, (2012) 348 ITR 439 (Bom), both in the computation of taxable long-term capital gains in the original return of income and in the computation that was submitted in response to the query of the ITA Nos.2578 to 2580/chny/2017 :- 31 -: C.O.Nos.47to 49/Chny/2018 M/s.Deloittee Haskins & Sells Assessing Officer there was a complete silence in regard to the dates on whic…

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