Kone Elevator India P. Ltd. v. ITO

Sanghvi Metals, Mumbai vs. ITO - 19(3)(2), Mumbai

In the result, both appeals of the assessee are partly allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…e noted that both the conditions must be fulfilled if the case falls within the ambit of the proviso to section 147. The case at hand is covered by the main provision and not the proviso.” M/s. Sanghvi Metals In the case of Kone Elevator India P. Ltd. v. ITO [340 ITR 454 (Mad)], CIT v. Ideal Garden Complex P. Ltd. [340 ITR 609 (Mad)], it is held that in the case of return of income processed u/s 143(1), the only condition to be satisfied for reopening is taxable income has escaped assessment and the assessee’s plea that no fresh material before the Assessing Officer warranting reopening, is not relevant. In view…

Sanghvi Metals, Mumbai vs. ITO - 19(3)(2), Mumbai

In the result, both appeals of the assessee are partly allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…e noted that both the conditions must be fulfilled if the case falls within the ambit of the proviso to section 147. The case at hand is covered by the main provision and not the proviso.” M/s. Sanghvi Metals In the case of Kone Elevator India P. Ltd. v. ITO [340 ITR 454 (Mad)], CIT v. Ideal Garden Complex P. Ltd. [340 ITR 609 (Mad)], it is held that in the case of return of income processed u/s 143(1), the only condition to be satisfied for reopening is taxable income has escaped assessment and the assessee’s plea that no fresh material before the Assessing Officer warranting reopening, is not relevant. In view…

Laxman D Daware, Mumbai vs. ITO 19 (2)(1), Mumbai

In the result, appeals of the assessee are partly allowed as indicated above

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…is however to be noted that both the conditions must be fulfilled if the case falls within the ambit of the proviso to section 147. The case at hand is covered by the main provision and not the proviso.” 11. In the case of Kone Elevator India P. Ltd. v. ITO [340 ITR 454 (Mad)], CIT v. Ideal Garden Complex P. Ltd. [340 ITR 609 (Mad)], it is held that in the case of return of income processed u/s 143(1), the only condition to be satisfied for reopening is taxable income has escaped assessment and the assessee’s plea that no fresh material before the Assessing Officer warranting reopening, is not relevant. 12. In…

Laxman D. Daware, Mumbai vs. ITO 19(2)(1), Mumbai

In the result, appeals of the assessee are partly allowed as indicated above

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…is however to be noted that both the conditions must be fulfilled if the case falls within the ambit of the proviso to section 147. The case at hand is covered by the main provision and not the proviso.” 11. In the case of Kone Elevator India P. Ltd. v. ITO [340 ITR 454 (Mad)], CIT v. Ideal Garden Complex P. Ltd. [340 ITR 609 (Mad)], it is held that in the case of return of income processed u/s 143(1), the only condition to be satisfied for reopening is taxable income has escaped assessment and the assessee’s plea that no fresh material before the Assessing Officer warranting reopening, is not relevant. 12. In…

Laxman D. Daware, Mumbai vs. ITO 19(2)(1), Mumbai

In the result, appeals of the assessee are partly allowed as indicated above

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…is however to be noted that both the conditions must be fulfilled if the case falls within the ambit of the proviso to section 147. The case at hand is covered by the main provision and not the proviso.” 11. In the case of Kone Elevator India P. Ltd. v. ITO [340 ITR 454 (Mad)], CIT v. Ideal Garden Complex P. Ltd. [340 ITR 609 (Mad)], it is held that in the case of return of income processed u/s 143(1), the only condition to be satisfied for reopening is taxable income has escaped assessment and the assessee’s plea that no fresh material before the Assessing Officer warranting reopening, is not relevant. 12. In…

Ralf Jems P.Ltd, Mumbai vs. ITO WD 5(3)(1), Mumbai

In the result, appeals of the assessee for the A

Bench: Shri C.N. Prasad, Hon'Ble & Shri M. Balaganesh, Hon'Ble

…e above, at the stage of initiation of proceedings of re-assessment what is required for the Assessing Officer is to form a reasonable belief on tangible materials that the income had escaped assessment. 13. In the case of Kone Elevator India P. Ltd. v. ITO [340 ITR 454 (Mad)], CIT v. Ideal Garden Complex P. Ltd. [340 ITR 609 (Mad)], it is held that in the case of return of income processed u/s 143(1), the only condition to be satisfied for reopening is taxable income has escaped assessment and the assessee’s plea that no fresh material before the Assessing Officer warranting reopening, is not relevant. 14. In…

Ralf Jems P.Ltd, Mumbai vs. ITO WD 5(3)(1), Mumbai

In the result, appeals of the assessee for the A

Bench: Shri C.N. Prasad, Hon'Ble & Shri M. Balaganesh, Hon'Ble

…e above, at the stage of initiation of proceedings of re-assessment what is required for the Assessing Officer is to form a reasonable belief on tangible materials that the income had escaped assessment. 13. In the case of Kone Elevator India P. Ltd. v. ITO [340 ITR 454 (Mad)], CIT v. Ideal Garden Complex P. Ltd. [340 ITR 609 (Mad)], it is held that in the case of return of income processed u/s 143(1), the only condition to be satisfied for reopening is taxable income has escaped assessment and the assessee’s plea that no fresh material before the Assessing Officer warranting reopening, is not relevant. 14. In…

Ralf Jems P.Ltd, Mumbai vs. ITO WD 5(3)(1), Mumbai

In the result, appeals of the assessee for the A

Bench: Shri C.N. Prasad, Hon'Ble & Shri M. Balaganesh, Hon'Ble

…e above, at the stage of initiation of proceedings of re-assessment what is required for the Assessing Officer is to form a reasonable belief on tangible materials that the income had escaped assessment. 13. In the case of Kone Elevator India P. Ltd. v. ITO [340 ITR 454 (Mad)], CIT v. Ideal Garden Complex P. Ltd. [340 ITR 609 (Mad)], it is held that in the case of return of income processed u/s 143(1), the only condition to be satisfied for reopening is taxable income has escaped assessment and the assessee’s plea that no fresh material before the Assessing Officer warranting reopening, is not relevant. 14. In…

Ralf Jems P.Ltd, Mumbai vs. ITO WD 5(3)(1), Mumbai

In the result, appeals of the assessee for the A

Bench: Shri C.N. Prasad, Hon'Ble & Shri M. Balaganesh, Hon'Ble

…e above, at the stage of initiation of proceedings of re-assessment what is required for the Assessing Officer is to form a reasonable belief on tangible materials that the income had escaped assessment. 13. In the case of Kone Elevator India P. Ltd. v. ITO [340 ITR 454 (Mad)], CIT v. Ideal Garden Complex P. Ltd. [340 ITR 609 (Mad)], it is held that in the case of return of income processed u/s 143(1), the only condition to be satisfied for reopening is taxable income has escaped assessment and the assessee’s plea that no fresh material before the Assessing Officer warranting reopening, is not relevant. 14. In…

Hitesh Tilokchand Bohra, Mumbai vs. Income Tax Officer-19(1)(5), Mumbai

In the result, appeals of the assessee are dismissed

Bench: Shri C.N. Prasad, Hon'Ble

…. It is however to be noted that both the conditions must be fulfilled if the case falls within the ambit of the proviso to section 147. The case at hand is covered by the main provision and not the proviso.” In the case of Kone Elevator India P. Ltd. v. ITO [340 ITR 454 (Mad)], CIT v. Ideal Garden Complex P. Ltd. [340 ITR 609 (Mad)], it is held that in the case of return of income processed u/s 143(1), the only condition to be satisfied for reopening is taxable income has escaped assessment and the assessee’s plea that no fresh material before the Assessing Officer warranting reopening, is not relevant. In v…

European Aviation Holding Company P.Ltd, Mumbai vs. ITO 1(3)(4), Mumbai

In the result, the appeal for AY 2011-12 is partly allowed

Bench: Shri C.N. Prasad () & Shri N.K. Pradhan () Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2011-12

…the case of ACIT v. Rajesh Jhaveri Stock Brokers P. Ltd. 291 ITR 500 (SC), it is held by the Hon’ble Supreme Court that intimation u/s 143(1)(a) is not an assessment and the notice u/s 148 was validly issued. In the case of Kone Elevator India P. Ltd. v. ITO 340 ITR 454 (Mad), CIT v. Ideal Garden Complex P. Ltd. 340 ITR 609 (Mad), it is held that in case of return processed u/s 143(1), the only condition to be satisfied for reopening is taxable income has escaped assessment and assessee’s plea that no 14 European Aviation Holding ITA Nos. 6909, 6910/Mum/2014 & 7565/Mum/2016 fresh material was there before the AO…

Shri Girish Devichandra Doshi, Mumbai vs. Income Tax Officer 19(1)(3), Mumbai

In the result, appeal of the assessee is partly allowed for statistical purposes

Bench: Shri C.N. Prasad, Hon'Bleshri Girish Devichandra Doshi Income Tax Officer - 19(1)(3) V. Room No. 220, 2Nd Floor Flat No. 8, K.Y.S. Niwas 7, Mughbhat Lane Matru Mandir, Tardeo Road, Khandilkar Road, Mumbai – 400 007 Mumbai – 400 004 Pan: Aacpd 4508 Q (Appellant) (Respondent) Assessee By : None Department By : Shri Chaitanya Anjaria

…t. It is however to be noted that both the conditions must be fulfilled if the case falls within the ambit of the proviso to section 147. The case at hand is covered by the main provision and not the proviso.” In the case of Kone Elevator India P. Ltd. v. ITO 340 ITR 454 (Mad), CIT v. Ideal Garden Complex P. Ltd. 340 ITR 609 (Mad), it is held that in the case of return of income processed u/s 143(1), the only condition to be satisfied for reopening is taxable income has escaped assessment and the assessee’s plea that no fresh material before the AO warranting reopening, is not relevant. In view of the above po…

Chetan Shashikant Shah, Mumbai vs. Income Tax Officer 13(3)(1), Mumbai

In the result, appeal of the assessee is partly allowed for statistical purposes

Bench: Shri C.N. Prasad, Hon'Bleshri Chetan Shashikant Shah Income Tax Officer - 13(3)(1) V. 1St Floor, Office No. 101 Aayakar Bhavan, M.K. Road 33, Dariyasthan Street Mumbai-400 020 Masjid, Mumbai – 400 003 Pan: Aacps 9153 Q (Appellant) (Respondent) Assessee By : Shri Rajesh Shah Department By : Shri Chaitanya Anjaria

…at both the conditions must be fulfilled if the case falls within the ambit of the proviso to section 147. The case at hand is covered by the main provision and not the proviso.” 4 Shri Chetan Shashikant Shah In the case of Kone Elevator India P. Ltd. v. ITO 340 ITR 454 (Mad), CIT v. Ideal Garden Complex P. Ltd. 340 ITR 609 (Mad), it is held that in the case of return of income processed u/s 143(1), the only condition to be satisfied for reopening is taxable income has escaped assessment and the assessee’s plea that no fresh material before the AO warranting reopening, is not relevant. In view of the above posi…

Kishanlal Khetaramji Vishnoi, Mumbai vs. Income Tax Officer War 19(2)(2), Mumbai

The appeal of the assessee is allowed for statistical purposes

Bench: Shri Shamim Yahya & Shri Ravish Soodkishanlal Khetaramji Vishnoi The Income Tax Officer 403-A, 4Th Floor, 19(2)(2), Kaushtubh Park, Hospital, Room No. 214, 2Nd Floor, Vs. Borivali (W), Matru Mandir, Tardeo Road, Mumbai – 400092 Mumbai – 400007

…he first day of April, 2011, as was wrongly done by the A.O while framing the assessment. In support of his aforesaid contention, the ld. A.R relied on the judgment of the Hon’ble High Court of Karnataka in the case of Vijay Kumar Saboo 7 Anr. Vs. ACIT (2012) 340 ITR 382, (Kar) and the judgment of the Hon’ble High Court Kerala in the case CIT Vs. B. Lakshmi Kanthan (2011) 198 taxman.com 485 (Kar). 6. Per contra, the ld. Departmental Representative (for short „D.R‟) relied on the orders of the lower authorities. It was submitted by the ld. D.R that the CIT(A) had rightly upheld the addition @ 12.5% of the P a g e…

M/S.Fine Metal (India), Mumbai vs. Income Tax Officer Ward 17(1)(4), Mumbai

Bench: Shri Shamim Yahya & Shri Ravish Soodita Nos.4155 To 4157/Mum/2018 (Assessment Years: 2009-10 To 2011-12) M/S Fine Metal (India) The Income Tax Officer Begmohamed Building Ward 17(1)(4) 45, Kolsa Street, Pydhunie Room No. 115, 1St Floor, Vs. Mumbai – 400003 Aayakar Bhavan, M.K. Road, Mumbai – 400020 Pan – Aaaff6587B (Appellant) (Respondent) Appellant By: Shri Dilip B. Sanghvi, A.R Respondent By: Shri Chaitnya Anjaria, D.R Date Of Hearing: 01.05.2019 Date Of Pronouncement: 08.05.2019 O R D E R Per Ravish Sood, Jm The Present Appeals Filed By The Assessee Are Directed Against The Respective Orders Of The Cit(A)-56, Mumbai, For A.Y. 2009-10, 2010- 11 & 2011-12, Dated 19.03.2018, Which In Turn Arises From The Respective Assessment Orders Passed Under Sec.143(3) R.W.S Sec.147 Of The I.T Act For The Said Respective Years. As A Common Issued Is Involved In The Aforementioned Appeals, Therefore, The Same Are Being Taken Up & Disposed Off By Way Of A Consolidated Order. We Shall First Advert To The Appeal Of The Assessee For A.Y. 2009-10. The Assessee Assailing The Order Of The Cit(A) Has Raised Before Us The Following Grounds Of Appeal :

…date of determination of tax under Sec.143(1)(a) till the date of framing of the regular assessment. In support of his contention reliance was placed on the judgment of the Hon‟ble High Court of Karnatka in the case of Vijay Kumar Saboo & Anr. Vs. ACIT (2012) 340 ITR 382 (Kar) and the judgment of the Hon‟ble High Court of Kerala in CIT Vs. B. Lakshmikanthan (2011) 198 taxman.com 485 (Ker). 6. Per contra, the ld. Departmental Representative relied on the orders of the lower authorities. It was submitted by the ld. D.R that as P a g e | 6 ITA No.4155 to 4157/Mum/2018 A.Ys. 2009-10 to 2011-12 M/s Fine Metal (India)…

Varnam Exporrts, Mumbai vs. ITO 19(3)(5), Mumbai

In the result, appeals of the assessee are partly allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…t. It is however to be noted that both the conditions must be fulfilled if the case falls within the ambit of the proviso to section 147. The case at hand is covered by the main provision and not the proviso.” In the case of Kone Elevator India P. Ltd. v. ITO 340 ITR 454 (Mad), CIT v. Ideal Garden Complex P. Ltd. 340 ITR 609 (Mad), it is held that in the case of return of income processed u/s 143(1), the only condition to be satisfied for reopening is taxable income has escaped assessment and the assessee’s plea that no fresh material before the AO warranting reopening, is not relevant. (A.Ys: 2008-09 to 2012-13…

Varnam Exports, Mumbai vs. ITO 19(3)(5), Mumbai

In the result, appeals of the assessee are partly allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

…t. It is however to be noted that both the conditions must be fulfilled if the case falls within the ambit of the proviso to section 147. The case at hand is covered by the main provision and not the proviso.” In the case of Kone Elevator India P. Ltd. v. ITO 340 ITR 454 (Mad), CIT v. Ideal Garden Complex P. Ltd. 340 ITR 609 (Mad), it is held that in the case of return of income processed u/s 143(1), the only condition to be satisfied for reopening is taxable income has escaped assessment and the assessee’s plea that no fresh material before the AO warranting reopening, is not relevant. (A.Ys: 2008-09 to 2012-13…