ITO, WD-41(2), Kolkata vs. M/S Epkon Associates, Kolkata
In the result, the appeal of the revenue is dismissed
ITA 1425/KOL/2014[2005-2006]Status: DisposedITAT Kolkata30 May 2018AY 2005-2006
Bench: Shri P.M. Jagtap, Am & Mrs. Madhumita Roy, Jm] I.T.A. No. 1425/Kol/2014 Assessment Year: 2005-06 Ito, Ward 41(2), Kolkata..............................…………………………..............................Appellant 4Th Floor, Poddar Court, 18, Rabindra Sarani, Kolkata – 700 001. M/S. Epkon Associates.....................……....................................................................Respondent 10/2, Canal Circular Road, Kolkata – 700 067 [Pan: Aabfe 8374 Q] Appearances By: Shri Sallong Yaden, Addl. Cit Appearing On Behalf Of The Revenue. Shri A.K. Tibrewal, Fca Appearing On Behalf Of The Assessee Date Of Concluding The Hearing : May 23, 2018 Date Of Pronouncing The Order : May 30 , 2018 Order Per P.M. Jagtap, Am This Appeal Filed By The Revenue Is Directed Against The Order Of Ld. Cit(Appeals) – 19, Kolkata Dated 05.03.2014 & In The Solitary Ground Raised Therein, The Revenue Has Challenged The Action Of The Ld. Cit(A) In Cancelling The Assessment Made By The A.O. Under Section 143(3) / 147 Of The Income Tax Act, 1961 By Holding The Same To Be Invalid.
Section 143(3)Section 147Section 148Section 148(2)Section 154
…. reported in 236 ITR 447 (SC) wherein it was held that – ‘Information which was with the A.O. at the time of original assessment cannot be used for reopening the assessment u/s 147. In the case of ITO vs Nawab Mir Barkat Ali Khan Bahadur (1974) reported in 97 ITR 239 (SC), it was held that – ‘second thoughts on the same material and omission to draw the correct legal presumption during original assessment do not warrant the initiation of a proceeding u/s 147. In the case of Sirpur Paper Mills Ltd. vs ITO (1978) reported in 114 ITR 404 (AP), it was held that – ‘income tax department cannot be permitted to bri…
