ITO v. Madnani Engineering Works Ltd.

Haryana Distillery Ltd., New Delhi vs. DCIT, Circle- 11(1), New Delhi

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

Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2008-09 Haryana Distillery Ltd., Vs. Dcit, 16, Community Centre, Circle-11(1), New Friends Colony, New Delhi. New Delhi. Pan: Aabch0933K (Appellant) (Respondent) Assessee By : Shri K. Sampath, Advocate Shri Raj Kumar, Advocate Revenue By : Shri Arun Kumar Yadav, Sr. Dr Date Of Hearing : 31.08.2018 Date Of Pronouncement : 20.11.2018 Order Per R.K. Panda, Am: This Appeal By The Assessee Is Directed Against The Order Dated 4Th December, 2017 Of The Cit(A)-35, New Delhi Relating To Assessment Year 2008-09. 2. The Facts Of The Case, In Brief, Are That The Assessee Is A Company & Filed Its Return Of Income On 31St March, 2010 Declaring Income At Rs.1,73,82,410/-. The Assessment U/S 143(3) Of The Act Was Completed On 30Th December, 2010 At An Income Of Rs.1,73,93,322/-. Subsequently, The Assessing Officer Reopened The Assessment U/S 147 Of The Act By Recording The Following Reasons:-

…. ITO (2009) 313 ITR 321 (Del); xi) Wel Intertrade P. Ltd. vs. ITO (2009) 308 ITR 22 (Del); xii) CIT vs. Indian Farmers Fert. (2008) 171 Taxman 379 (Del); xiii) CIT vs. Foramer France (2003) 264 ITR 566 (SC); xiv) ITO vs. Madnani Engineering Works Ltd. (1979) 118 ITR 1 (SC). 8. So far as the allegation of the Revenue that the assessee has not fully and truly disclosed all material facts necessary for completion of the assessment is concerned, he submitted that the same is untenable in view of the fact that the issue has been the subject matter of detailed scrutiny in terms of material on record at the time of th…

Achla Dhawan vs. Income Tax Officer

The appeal of the assessee are dismissed

Bench: Shri S. K. Yadav & Shri Prashant Maharishi

…ance in the context of invocation on Section 147 of the Act qua the recording of a satisfaction. The authorities have by- passed the norms enunciated in the decisions of ITO vs. Lakhmani Mewal Das (1976) 103 ITR 0437 and ITO vs. Madnani Engg Works Ltd. (1979) 118 ITR 1 (SC) the Meerut Dl's message is no information in the terminology of the section 147. That message is not supported by any material at all. Live nexus of reasons with the material on record was completely absent. Please refer CIT vs. Supreme Polypropolene P. Ltd. (2013) 35 Taxmann.com ITA. 2165 (Del) of 2008. Smt. Achla Dhawan, Meerut. 20 215 (De…

Commissioner of Income Tax vs. Visisth Chay Vyapar Ltd

…ed, a proceeding under Section 34(1)(a) will not lie merely on the ground that the Income-tax Officer has raised an inference which he may later regard as erroneous.” 30. The above decisions were followed in ITO v. Madnani Engineering Works Ltd. (1979) 118 ITR 1 (SC). 31. Turning to the decisions of this Court, in Haryana Acrylic Manufacturing Company v. CIT [2008] 175 Taxman 262 (Del), the legal position as regards the reopening of an assessment after the expiry of four years from the end of the relevant AY was analysed. The Court referred to the decisions of the Supreme Court in ITO v. Madnani En…

Commissioner of Income Tax vs. Vishsht Chay Vyapar Ltd

…ed, a proceeding under Section 34(1)(a) will not lie merely on the ground that the Income-tax Officer has raised an inference which he may later regard as erroneous.” 30. The above decisions were followed in ITO v. Madnani Engineering Works Ltd. (1979) 118 ITR 1 (SC). 31. Turning to the decisions of this Court, in Haryana Acrylic Manufacturing Company v. CIT [2008] 175 Taxman 262 (Del), the legal position as regards the reopening of an assessment after the expiry of four years from the end of the relevant AY was analysed. The Court referred to the decisions of the Supreme Court in ITO v. Madnani En…

Commissioner of Income Tax vs. Vishishth Chay Vyapar Ltd

…ed, a proceeding under Section 34(1)(a) will not lie merely on the ground that the Income-tax Officer has raised an inference which he may later regard as erroneous.” 30. The above decisions were followed in ITO v. Madnani Engineering Works Ltd. (1979) 118 ITR 1 (SC). 31. Turning to the decisions of this Court, in Haryana Acrylic Manufacturing Company v. CIT [2008] 175 Taxman 262 (Del), the legal position as regards the reopening of an assessment after the expiry of four years from the end of the relevant AY was analysed. The Court referred to the decisions of the Supreme Court in ITO v. Madnani En…

Commissioner of Income Tax vs. Vishishth Chay Vyapar Ltd

…ed, a proceeding under Section 34(1)(a) will not lie merely on the ground that the Income-tax Officer has raised an inference which he may later regard as erroneous.” 30. The above decisions were followed in ITO v. Madnani Engineering Works Ltd. (1979) 118 ITR 1 (SC). 31. Turning to the decisions of this Court, in Haryana Acrylic Manufacturing Company v. CIT [2008] 175 Taxman 262 (Del), the legal position as regards the reopening of an assessment after the expiry of four years from the end of the relevant AY was analysed. The Court referred to the decisions of the Supreme Court in ITO v. Madnani En…

Commissioner of Income Tax – II vs. Co. Ltd

…not lie merely on the ground that the Income-tax Officer has raised an inference which he may later regard as erroneous.” 22. The aforesaid decision was followed by the Supreme Court in a later decision in ITO v. Madnani Engineering Works Ltd.: (1979) 118 ITR 1 (SC). 23. The aforesaid decisions of the Supreme Court in Burlop Dealers Ltd. (supra) and ITO v. Madnani Engineering Works Ltd. (supra) were noticed by this Court in M/s Haryana Acrylic Manufacturing Co. (P) Ltd. (supra). The Court has held that once the Assessee had disclosed all facts which have been examined by the AO during the assessme…