Infinity Infotech Park Ltd. v. DCIT

58 ITR (Trib) 486Income Tax Appellate Tribunal#25291 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 348,631 Indian tax judgments — from 2017 to 2017.

Judgments citing Infinity Infotech Park Ltd. v. DCIT

M/S Sadhana Stocks & Securities Pvt. Ltd., Mumbai vs. PCIT-4, Kolkata

In the result, the appeal of the assessee is allowed

ITA 759/KOL/2017[2012-13]Status: DisposedITAT Kolkata22 Dec 2017AY 2012-13

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

Section 143(3)Section 263Section 43(5)

…whether or not the order is erroneous but has directed the Assessing Officer to decide this aspect/question. 11. It is observed that the Coordinate Bench of this Tribunal has recently considered a similar issue in the case of Infinity Infotech Park Limited [58 ITR (Trib) 486]. In the said case, there was no allegation in the show-cause notice issued under section 263, like in the present case, that there was a failure on the part of the Assessing Officer to make proper and adequate enquiry before completing the assessment and the allegation was that the Assessing Officer has formed a wrong opinion or findings o…

Sarda Mines Pvt. Limited, Kolkata vs. DCIT, Circle-05(2), Kolkata

In the result, the appeal of the assessee is allowed

ITA 868/KOL/2017[2012-13]Status: DisposedITAT Kolkata14 Dec 2017AY 2012-13

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A. No. 868/Kol/2017 Assessment Year: 2012-13 Sarda Mines Pvt. Ltd...............................………………………………………………Appellant 6Th Floor, Circular Court, 8, Ajc Bose Road, Kolkata – 700017. [Pan : Aahcs 2419 R] D.C.I.T., Cir 5(2) Kolkata………………………………………………......................Respondent Aayakar Bhawan, P-7, Chowringhee Square, Kolkata - 69 Appearances By: Shri A.K. Gupta, Fca Appearing On Behalf Of The Assessee. Md. Usman, Cit Dr Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : November 21, 2017 Date Of Pronouncing The Order : December 14, 2017 Order Per P.M. Jagtap, Am This Appeal Filed By The Assessee Is Directed Against The Order Of Ld. Principal Cit – 2, Kolkata Dated 28.03.2017 Passed Under Section 263 Of The Income Tax Act, 1961 & The Grounds Raised By The Assessee Therein Read As Under: “1. For That The Order Passed Under Section 263 Of The Income Tax Act, 1961 (In Short ‘The Act’) By The Principal Commissioner Of Income Tax -2, Kolkata (In Short ‘Cit’) Dated 28.03.2017 Is Without Jurisdiction & Illegal As None Of The Condition Precedent For Exercise Of The Power Under Section 263 Of The Act Exists And/Or Has Been Satisfied & As Such The Said Order Is Erroneous & Without Jurisdiction & Liable To Be Cancelled. 2. For That The Order Passed By The Assessing Officer Was Not In Any Way Erroneous Or Prejudicial To The Interest Of Revenue & As Such The Cit Would Not Exercise Any Power Under Section 263 Of The Act. The Cit Erred

Section 115JSection 143(3)Section 263Section 40

…in law. In support of this contention, he relied on the decision of Hon’ble Delhi High Court in the case of ITO vs D.G. Housing Project Ltd. (343 ITR 329) as well as the decision of Co-ordinate Bench of this Tribunal in the case of Infinity Infotech Park Ltd. 58 ITR (Trib) 486. 9. The learned counsel for the assessee also raised arguments in support of the assessee’s case on both the issues raised by the Ld. Principal CIT in the notice issued under section 263 in order to show that the claim of the assessee on the said issues was in accordance with law on merit and there was no error committed by the A.O. in allo…

Sarda Mines Pvt. Limited, Kolkata vs. DCIT, Circle-05(2), Kolkata

In the result, the appeal of the assessee is allowed

ITA 867/KOL/2017[2007-08]Status: DisposedITAT Kolkata14 Dec 2017AY 2007-08

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A. No. 867/Kol/2017 Assessment Year: 2007-08 Sarda Mines Pvt. Ltd...............................………………………………………………Appellant 6Th Floor, Circular Court, 8, Ajc Bose Road, Kolkata – 700017. [Pan : Aahcs 2419 R] D.C.I.T., Cir 5(2) Kolkata………………………………………………......................Respondent Aayakar Bhawan, P-7, Chowringhee Square, Kolkata - 69 Appearances By: Shri A.K. Gupta, Fca Appearing On Behalf Of The Assessee. Md. Usman, Cit Dr Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : November 21, 2017 Date Of Pronouncing The Order : December 14, 2017 Order Per P.M. Jagtap, Am This Appeal Filed By The Assessee Is Directed Against The Order Of Ld. Principal Cit – 2, Kolkata Dated 28.03.2017 Passed Under Section 263 Of The Income Tax Act, 1961 & The Grounds Raised By The Assessee Therein Read As Under: “1. For That The Order Passed Under Section 263 Of The Income Tax Act, 1961 (In Short ‘The Act’) By The Principal Commissioner Of Income Tax -2, Kolkata (In Short ‘Cit’) Dated 28.03.2017 Is Without Jurisdiction & Illegal As None Of The Condition Precedent For Exercise Of The Power Under Section 263 Of The Act Exists And/Or Has Been Satisfied & As Such The Said Order Is Erroneous & Without Jurisdiction & Liable To Be Cancelled. 2. For That The Order Passed By The Assessing Officer Was Not In Any Way Erroneous Or Prejudicial To The Interest Of Revenue & As Such The Cit Would Not Exercise Any Power Under Section 263 Of The Act. The Cit Erred In Holding That The Order Of Assessment Is Erroneous & Prejudicial To The Interest Of Revenue.

Section 263Section 35A

…in law. In support of this contention, he relied on the decision of Hon’ble Delhi High Court in the case of ITO vs D.G. Housing Project Ltd. (343 ITR 329) as well as the decision of Co-ordinate Bench of this Tribunal in the case of Infinity Infotech Park Ltd. 58 ITR (Trib) 486. 24 I.T.A. No. 867/Kol/2017 Assessment Year: 2007-08 Sarda Mines Pvt. Ltd. 10. The learned counsel for the assessee also raised one more preliminary issue while challenging the jurisdiction of the Ld. Principal CIT to exercise his revisionary powers under section 263 in the facts of the assessee’s case. He submitted that the assessment r…