Navkar Share And Stock Brokers Pvt Ltd. v. Asstt. CIT

393 ITR 362High Court2007#5522 most cited

What is Navkar Share And Stock Brokers Pvt Ltd. v. Asstt. CIT authority for?

Reopening an assessment is permissible when the Assessing Officer receives fresh information, such as survey reports and employee statements, even if an objection is raised by the assessee.

21

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2021 to 2024.

Also referred to as

Navkar Share and Stock Brokers P. Ltd v. ACIT · reassessment · reopening assessment · fresh information · survey report · section 147 · section 151

Sections most often in play

Section 10AASection 115JBSection 147Section 40A(2)(b)Section 69CSection 151Section 132Section 133A

Issues it is cited on

section 40a(2)(a)full and true disclosurebeyond four yearscircular tradingsection 151(2)initial assessment yearfresh tangible materialsection 10aacomputer softwaremere change of opinionsection 144c(1)section 40a(2)(b)

Judgments citing Navkar Share And Stock Brokers Pvt Ltd. v. Asstt. CIT

DCIT, C-1, (E), Chandigarh vs. M/S Manav Mangal Society, Chandigarh

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

ITA 136/CHANDI/2020[2010-11]Status: DisposedITAT Chandigarh27 May 2021AY 2010-11
For Appellant: Shri Sudhir Sehgal, AdvFor Respondent: Shri Sandeep Dahiya, CIT-DR
Section 13(3)

…osed for your reference as Pages 9 to 10 with the present objection. The notice U/s. 147 thus, is completely without jurisdiction In terms of the decisions of various courts detailed as under:- i) Navkar Share And Stock Brokers Pvt Ltd. V/s Asstt. CIT [2007] 393 ITR 362 - GUJ-HC ii). Micro Inks P. Ld. V/s Assistant Commissioner of Income Tax [2007] 393 ITR 366 GUJ-HC iii). Dr. Rajivraj Ranbirsingh Chaudhary V /s Assistant Commissioner of Income Tax (2017} 393 ITR 660- GUJ-HC 9 Further, reliance is being placed on the following judgments:- i). Greater Mohali Area Development Authority V/s DCIT ITA NO.410/CHD/…