Mitsui & Company India (P) Ltd. v. Income Tax Officer

M.K. CYCLE INDUSTRIES PVT. LTD.,NEW DELHI vs. ITO, NEW DELHI

Bench: Sh. I.C. Sudhir & Sh. O.P. Kantassessment Year: 2003-04 M/S. M.K. Cycle Industries Pvt. Ltd. Vs. Ito, Ward – 6(1), New Delhi G-76, Sant Nagar Extn., Tilak Nagar, New Delhi (Pan: Aaecs3075L) (Appellant) (Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘G’: NEW DELHI BEFORE SH. I.C. SUDHIR, JUDICIAL MEMBER AND SH. O.P. KANT, ACCOUNTANT MEMBER Assessment Year: 2003-04 M/s. M.K. Cycle Industries Pvt. Ltd. Vs. ITO, Ward – 6(1), New Delhi G-76, Sant Nagar Extn., Tilak Nagar, New Delhi (PAN: AAECS3075L) (Appellant) (Respondent) Appellant by S/sh. Gagan Kumar, Adv. & Amit Kaushik, CA Respondent by Smt. Rishpal Bedi, JCIT(DR) Date of hearing 18.04.2016 Date of pronouncement 10.06.2016 ORDER PER O.P. KANT, A.M.: The present appeal of the assessee is directed against the order dated 19th August, 2014 of the learned Comm…

COMMISSIONER OF INCOME TAX-CENTRAL-I vs. M/S. INDO ARAB AIR SERVICES

…ed on tangible material which provides the nexus or the link to having reason to believe that income has escaped assessment. 21. It is in this context that the Court finds that the decision in Mitsui & Company India (P) Ltd. v. Income Tax Officer (2012) 26 Taxmann.com 1, on which considerable reliance was placed by Mr. Kamal Sawhney, is distinguishable on facts. The nature of the information provided by the governmental agency in that case did not itself refer to any amounts or 2015:DHC:8885-DB ITA Nos. 292 of 2015 & 299 of 2015 Page 13 of 14 entries in the books of…

COMMISSIONER OF INCOME TAX-CENTRAL-I vs. M/S. INDO ARAB AIR SERVICES

…ed on tangible material which provides the nexus or the link to having reason to believe that income has escaped assessment. 21. It is in this context that the Court finds that the decision in Mitsui & Company India (P) Ltd. v. Income Tax Officer (2012) 26 Taxmann.com 1, on which considerable reliance was placed by Mr. Kamal Sawhney, is distinguishable on facts. The nature of the information provided by the governmental agency in that case did not itself refer to any amounts or 2015:DHC:8885-DB ITA Nos. 292 of 2015 & 299 of 2015 Page 13 of 14 entries in the books of…