N.K. Industries Ltd. v. ITO

362 ITR 542High Court#9027 most cited

What is N.K. Industries Ltd. v. ITO authority for?

An Assessing Officer's (AO) belief that income has escaped assessment is subjective. Reassessment proceedings cannot be quashed simply because the issue was initially brought to the AO's notice by an audit party, provided the AO applied their mind and found the ground valid.

12

judgments rely on this decision, according to BharatTax’s citation analysis of 366,402 Indian tax judgments — from 2019 to 2024.

Also referred to as

N.K. Industries Ltd. v. ITO · reassessment · reopening assessment · section 148 · audit party · application of mind · subjective satisfaction · relevant material · escaped income · valid ground

Judgments citing N.K. Industries Ltd. v. ITO

Lisamma Sebastian, Kota vs. Income Tax Officer, Kota

In the result, the appeal of the assessee is partly allowed

ITA 661/JPR/2023[2017-18]Status: DisposedITAT Jaipur21 Feb 2024AY 2017-18

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri P.C. Parwal, CAFor Respondent: Shri A.S. Nehra, Addl. CIT
Section 115BSection 69A

…that formation of belief by AO is essentially within his subjective satisfaction at the stage of issue of notice, only question is whether there was relevant material on which reasonable person could have formed requisite belief. 3) N.K. Industries Ltd vs ITO 362 ITR 542 (Guj) where the Hon'ble HC held if a particular issue is brought to the notice of the AD by audit party and AO of his/her application of mind finds this ground as valid, reopening of assessment cannot be quashed merely because such ground was brought to the notice of AO by the audit party, 5.5.4 The AO is not required to carry out any investigati…

Surendrakumar H Chaplot, Mumbai vs. ITO WD 18(3)(4), Mumbai

In the result, appeal by the assessee regarding the reopening stands dismissed

ITA 620/MUM/2017[2009-10]Status: DisposedITAT Mumbai01 Oct 2019AY 2009-10

Bench: Shri Shamim Yahya (Am)

Section 143(1)Section 144Section 145Section 147Section 148

…formation by belief by AO is essentially within his subjective satisfaction - at the stage of issue of notice, only question is whether there was relevant material on which reasonable person could have formed requisite belief. 3) N.K. Industries Ltd. vs. ITO 362 ITR 542 (Guj.) where the Hon'ble HC held if a particular issue is brought to the notice of the AO by audit party and AO of his /her application of mind finds this ground as valid, reopening of assessment cannot be quashed merely because such ground was brought to the notice of AO by the audit party. 3.3.2. The assessing officer has in this case, after g…

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

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

ITA 3464/MUM/2018[2011-12]Status: DisposedITAT Mumbai30 Sept 2019AY 2011-12

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

For Appellant: Shri Prakash PanditFor Respondent: Shri Chaitanya Anjaria
Section 133(6)Section 143(3)Section 145Section 147

…formation by belief by AO is essentially within his subjective satisfaction - at the stage of issue of notice, only question is whether there was relevant material on which reasonable person could have formed requisite belief. 3) N.K. Industries Ltd. vs. ITO 362 ITR 542 (Guj.) where the Hon'ble HC held if a particular issue is brought to the notice of the AO by audit party and AO of his /her application of mind finds this ground as valid, reopening of assessment cannot be quashed merely because such ground was brought to the notice of AO by the audit party. 4) The Hon'ble Supreme Court in the case of ACIT vs. Ra…

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

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

ITA 3463/MUM/2018[2010-11]Status: DisposedITAT Mumbai30 Sept 2019AY 2010-11

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

For Appellant: Shri Prakash PanditFor Respondent: Shri Chaitanya Anjaria
Section 133(6)Section 143(3)Section 145Section 147

…formation by belief by AO is essentially within his subjective satisfaction - at the stage of issue of notice, only question is whether there was relevant material on which reasonable person could have formed requisite belief. 3) N.K. Industries Ltd. vs. ITO 362 ITR 542 (Guj.) where the Hon'ble HC held if a particular issue is brought to the notice of the AO by audit party and AO of his /her application of mind finds this ground as valid, reopening of assessment cannot be quashed merely because such ground was brought to the notice of AO by the audit party. 4) The Hon'ble Supreme Court in the case of ACIT vs. Ra…

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

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

ITA 3462/MUM/2018[2009-10]Status: DisposedITAT Mumbai30 Sept 2019AY 2009-10

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

For Appellant: Shri Prakash PanditFor Respondent: Shri Chaitanya Anjaria
Section 133(6)Section 143(3)Section 145Section 147

…formation by belief by AO is essentially within his subjective satisfaction - at the stage of issue of notice, only question is whether there was relevant material on which reasonable person could have formed requisite belief. 3) N.K. Industries Ltd. vs. ITO 362 ITR 542 (Guj.) where the Hon'ble HC held if a particular issue is brought to the notice of the AO by audit party and AO of his /her application of mind finds this ground as valid, reopening of assessment cannot be quashed merely because such ground was brought to the notice of AO by the audit party. 4) The Hon'ble Supreme Court in the case of ACIT vs. Ra…

DCIT (Ltu) 2, Mumbai vs. Union Bank of India, Mumbai

In the result, appeal of the Revenue is partly allowed for statistical purpose

ITA 2234/MUM/2018[2009-10]Status: DisposedITAT Mumbai12 Jul 2019AY 2009-10

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

For Appellant: Shri C. NareshFor Respondent: Shri Sushil Kumar Poddar
Section 244A

…formation by belief by AO is essentially within his subjective satisfaction - at the stage of issue of notice, only question is whether there was relevant material on which reasonable person could have formed requisite belief. 3) N.K. Industries Ltd. vs. ITO 362 ITR 542 (Guj.) where the Hon’ble HC held if a particular issue is brought to the notice of the AO by audit party and AO of his/her application of mind finds this ground "as valid, reopening of assessment cannot be quashed merely because such ground was brought to the notice of AO by the audit party. 3.1.3.6. In view of the above, the reassessment procee…

DCIT (Ltu) 2, Mumbai vs. Union Bank of India, Mumbai

In the result, appeal of the Revenue is partly allowed for statistical purpose

ITA 2233/MUM/2018[2007-08]Status: DisposedITAT Mumbai12 Jul 2019AY 2007-08

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

For Appellant: Shri C. NareshFor Respondent: Shri Sushil Kumar Poddar
Section 244A

…formation by belief by AO is essentially within his subjective satisfaction - at the stage of issue of notice, only question is whether there was relevant material on which reasonable person could have formed requisite belief. 3) N.K. Industries Ltd. vs. ITO 362 ITR 542 (Guj.) where the Hon’ble HC held if a particular issue is brought to the notice of the AO by audit party and AO of his/her application of mind finds this ground "as valid, reopening of assessment cannot be quashed merely because such ground was brought to the notice of AO by the audit party. 3.1.3.6. In view of the above, the reassessment procee…

DCIT (Ltu) 2, Mumbai vs. Union Bank of India, Mumbai

In the result, appeal of the Revenue is partly allowed for statistical purpose

ITA 2232/MUM/2018[2007-08]Status: DisposedITAT Mumbai12 Jul 2019AY 2007-08

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

For Appellant: Shri C. NareshFor Respondent: Shri Sushil Kumar Poddar
Section 244A

…formation by belief by AO is essentially within his subjective satisfaction - at the stage of issue of notice, only question is whether there was relevant material on which reasonable person could have formed requisite belief. 3) N.K. Industries Ltd. vs. ITO 362 ITR 542 (Guj.) where the Hon’ble HC held if a particular issue is brought to the notice of the AO by audit party and AO of his/her application of mind finds this ground "as valid, reopening of assessment cannot be quashed merely because such ground was brought to the notice of AO by the audit party. 3.1.3.6. In view of the above, the reassessment procee…

DCIT (Ltu) 2, Mumbai vs. Union Bank of India, Mumbai

In the result, appeal of the Revenue is partly allowed for statistical purpose

ITA 2231/MUM/2018[1991-92]Status: DisposedITAT Mumbai12 Jul 2019AY 1991-92

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

For Appellant: Shri C. NareshFor Respondent: Shri Sushil Kumar Poddar
Section 244A

…formation by belief by AO is essentially within his subjective satisfaction - at the stage of issue of notice, only question is whether there was relevant material on which reasonable person could have formed requisite belief. 3) N.K. Industries Ltd. vs. ITO 362 ITR 542 (Guj.) where the Hon’ble HC held if a particular issue is brought to the notice of the AO by audit party and AO of his/her application of mind finds this ground "as valid, reopening of assessment cannot be quashed merely because such ground was brought to the notice of AO by the audit party. 3.1.3.6. In view of the above, the reassessment procee…

Union Bank of India, Mumbai vs. DCIT (Ltu) 2, Mumbai

In the result, appeal of the Revenue is partly allowed for statistical purpose

ITA 1803/MUM/2018[2009-10]Status: DisposedITAT Mumbai12 Jul 2019AY 2009-10

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

For Appellant: Shri C. NareshFor Respondent: Shri Sushil Kumar Poddar
Section 244A

…formation by belief by AO is essentially within his subjective satisfaction - at the stage of issue of notice, only question is whether there was relevant material on which reasonable person could have formed requisite belief. 3) N.K. Industries Ltd. vs. ITO 362 ITR 542 (Guj.) where the Hon’ble HC held if a particular issue is brought to the notice of the AO by audit party and AO of his/her application of mind finds this ground "as valid, reopening of assessment cannot be quashed merely because such ground was brought to the notice of AO by the audit party. 3.1.3.6. In view of the above, the reassessment procee…

Union Bank of India, Mumbai vs. DCIT (Ltu) 2, Mumbai

In the result, appeal of the Revenue is partly allowed for statistical purpose

ITA 1802/MUM/2018[2007-08]Status: DisposedITAT Mumbai12 Jul 2019AY 2007-08

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

For Appellant: Shri C. NareshFor Respondent: Shri Sushil Kumar Poddar
Section 244A

…formation by belief by AO is essentially within his subjective satisfaction - at the stage of issue of notice, only question is whether there was relevant material on which reasonable person could have formed requisite belief. 3) N.K. Industries Ltd. vs. ITO 362 ITR 542 (Guj.) where the Hon’ble HC held if a particular issue is brought to the notice of the AO by audit party and AO of his/her application of mind finds this ground "as valid, reopening of assessment cannot be quashed merely because such ground was brought to the notice of AO by the audit party. 3.1.3.6. In view of the above, the reassessment procee…

Union Bank of India, Mumbai vs. DCIT (Ltu) 2, Mumbai

In the result, appeal of the Revenue is partly allowed for statistical purpose

ITA 1801/MUM/2018[2007-08]Status: DisposedITAT Mumbai12 Jul 2019AY 2007-08

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

For Appellant: Shri C. NareshFor Respondent: Shri Sushil Kumar Poddar
Section 244A

…formation by belief by AO is essentially within his subjective satisfaction - at the stage of issue of notice, only question is whether there was relevant material on which reasonable person could have formed requisite belief. 3) N.K. Industries Ltd. vs. ITO 362 ITR 542 (Guj.) where the Hon’ble HC held if a particular issue is brought to the notice of the AO by audit party and AO of his/her application of mind finds this ground "as valid, reopening of assessment cannot be quashed merely because such ground was brought to the notice of AO by the audit party. 3.1.3.6. In view of the above, the reassessment procee…

N.K. Industries Ltd. v. ITO (362 ITR 542) — Cited in 12 Judgments | BharatTax