Parashuram Pottery Works Co. Ltd. v. ITO

106 ITR 1Supreme Court of India1977#143 most cited

What is Parashuram Pottery Works Co. Ltd. v. ITO authority for?

The principle of finality dictates that stale issues should not be reactivated, and lapse of time brings repose to judicial and quasi-judicial controversies. A Commissioner cannot substitute their judgment for the Assessing Officer's unless the assessment order is legally erroneous, not merely less elaborate, thus limiting revisionary powers under Section 263.

486

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 1991 to 2026.

Also referred to as

Parashuram Pottery Works Co. Ltd. v. ITO · Parashuram Pottery · Section 263 · erroneous order · revision power · substitution of Commissioner's judgment · finality of assessment · stale issues · judicial precedent · 106 ITR 1

Sections most often in play

Section 143(3)Section 147Section 148Section 263Section 142(1)Section 151Section 69CSection 68
Read the full judgment

Issues it is cited on

section 10(31a)section 100section 76section 142(2c)section 153b(1)(b)section 150(1)section 153b(1)rectification under section 154section 144basection 33(4)section 206csection 158bc

Judgments citing Parashuram Pottery Works Co. Ltd. v. ITO

Pr. Commissioner of Income Tax-2, Delhi vs. M/S Bhishansaroop Ram

ITA/953/2019HC Delhi28 Mar 2024

Bench: HON'BLE MR. JUSTICE YASHWANT VARMA,HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV

…$~15 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 953/2019 PR. COMMISSIONER OF INCOME TAX-2, DELHI ..... Appellant Through: Mr. Shlok Chandra, Sr.SC with Ms. Priya Sarkar and Ms. Madhavi Shukla, Jr.SCs along with Mr. Ujjawal Jain, Adv. versus M/S BHISHANSAROOP RAM ..... Respondent Through: Mr.Ved Jain, Mr. Nischay Kantoor and Ms. Soniya Dodeja, Advs. CORAM: HON'BLE MR. JUSTICE YASHWANT VARMA HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV O R D E R % 28.…

Pincity Jewlhouse Pvt. Ltd., Jaipur vs. PCIT, CC, Jaipur

In the result, the appeal of the assessee is allowed

ITA 63/JPR/2021[2015-16]Status: DisposedITAT Jaipur07 Mar 2024AY 2015-16

Bench: the date of hearing." 3. At the outset of hearing, the Bench observed that there is delay of 58 days in filing of the present appeal by the assessee for which the Id. AR of 3

For Appellant: Sh. Siddharth Ranka, Adv. &For Respondent: Sh. Ajey Malik, CIT
Section 10ASection 147Section 253(5)Section 263Section 5

…ed by re-opening the case after survey which has been completed there cannot be third inning to the revenue. To drive home to this contention drive strength from the finding of the Hon’ble apex court in case of Parashuram Pottery Works Co. Ltd Vs ITO [ 1977] 106 ITR 1 at page 10 “At the same time, we have to bear in mind that the policy of law is 48 Pinkcity Jewelhouse Pvt. Ltd. vs. PCIT that there must be a point of finality in all legal proceedings, that stale issues should not be reactivated beyond a particular stage and that lapse of time must induce repose in and set at rest judicial and quasi judicial c…

Amikrupa Education Trust, Anand vs. The Income Tax Officer, Ward Exemption, Vadodara

In the result, the appeal of the assessee is allowed

ITA 581/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad24 Jan 2024AY 2017-18

Bench: Final Appeal. Total Tax Effect (See Note Below) Rs. 40,90,878/-

For Appellant: Shri M.S. Chhajed, A.RFor Respondent: Shri Purushottam Kumar, Sr. D.R
Section 115BSection 12ASection 142(1)Section 143(2)Section 69A

…n assessee has recorded different transactions in books of accounts. Besides this, the Assessing Officer has not rejected the books of the assessee. The ld. A.R. relied upon the decision of Hon’ble Apex Court in case of Parasthuram Potterty Works Ltd. vs. ITO 106 ITR 1 (SC). 6. The ld. D.R. submitted that no bank slip was attached during the submission of the evidence before the Assessing Officer as well as before the CIT(A). Thus, the assessee has not fully disclosed the cash deposits and thus it remains unexplained and therefore section 69A of the Act was properly invoked. The ld. D.R. further submitted that t…

M/S. Panjos Builders Pvt Ltd., Bangalore vs. Income Tax Officer, Ward-5(1)(1), Bangalore

In the result, appeal of the assessee is allowed

ITA 434/BANG/2023[2007-08]Status: DisposedITAT Bangalore17 Jan 2024AY 2007-08

Bench: Shri Chandra Poojari & Smt. Madhumita Royassessment Year: 2007-08

For Appellant: Shri Ravishankar, A.RFor Respondent: Shri V. Parithivel, D.R
Section 147Section 148Section 201(1)Section 234ASection 250Section 40Section 4o

…part of assessee to disclose fully and truly all material facts necessary for the purpose of assessment. For this purpose, he relied on the following judgements: a) Calcutta Discount Co. Ltd. (1961) 41 ITR 191 (SC) b) Parashuram Pottery Works Co. Ltd. (1977) 106 ITR 1 (SC). c) Maruti Suzuki India Ltd. (2013) 215 taxman 495 (Del HC). d) CIT Vs Mysore Cements (2013) 355 ITR 136 (Kar) 5. On the other hand, ld. D.R. submitted that the ld. AO has recorded that assessee has not duly deducted the TDS u/s 40(a)(ia) of the Act. As such, he reopened the assessment by validly issuing notice u/s 148 of the Act. Same to be u…

Karamshi Jethabhai Somaiya Trust, Mumbai vs. Income Tax Officer(Exemption), Mumbai

The appeal of the assessee is allowed

ITA 2608/MUM/2023[2009-10]Status: DisposedITAT Mumbai08 Jan 2024AY 2009-10

Bench: Kuldip Singh, Jm & Ms Padmavathy S, Am

For Appellant: Shri. K. Gopal a/w Ms. NehaFor Respondent: Shri P.D. Chougule , Sr. DR
Section 12ASection 139Section 142Section 143Section 143(3)Section 147Section 148

…the condition precedent to the reopening of an assessment beyond a period of four years has been fulfilled." 18. It will be proper in the circumstances to quote a paragraph from the judgment of the Apex Court in Parashuram Pottery Works Co. Ltd. v. ITO [1977] 106 ITR 1, (cited by Mr. Pardiwalla), and it reads as under : "It has been said that the taxes are the price that we pay for civilization. If so, it is essential that those who are entrusted with the task of calculating and realising that price should familiarise themselves with the relevant provisions and become well versed with the law on the subject. Any…

ACIT, Circle-2(1)(1), Income Tax Department vs. S D Material Handlers Private Limited, Surat

In the result, the appeal of the Revenue is dismissed

ITA 499/SRT/2023[2013-14]Status: DisposedITAT Surat21 Dec 2023AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.499/Srt/2023 (िनधा"रणवष" / Assessment Year: (2013-14) (Hybrid Hearing) Assistant Commissioner Of M/S S D Material Handlers Pvt. Ltd. Income-Tax, Circle-2(1)(1), Surat Vs. 405-408, Shivalik Western, L.P. Room No.612, 6Th Floor, Aayakar Savani Road, Adajan Adajan Bhavan, Near Majura Gate, Bo, Surat-395009 Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaccd 3481B (अपीलाथ" /Assessee) (""थ"/Respondent)

For Appellant: Shri Sapnesh R Sheth, CAFor Respondent: Shri Vinod Kumar, Sr-DR
Section 142(1)Section 143(1)Section 143(3)Section 263Section 36(1)(va)

…e judgment, although it may be true enough that subsequent light or ingenuity might suggest some traverse which had not been taken." These observation were made in a case where taxation was in issue. 15. This Court in Parashuram Pottery Works Co. Ltd. v. ITO (106 ITR 1 at p.10 : 1977 SC 429 at p.435) stated : "At the same time, we have to bear in mind that the policy of law is that there must be a point of finality in all legal proceedings, that stale issues should not be reactivated beyond a particular stage and that lapse of time must induce repose in and set at rest judicial and quasi-judicial controversies as…

Hitesh Golchha, Raipur vs. Assistant Commissioner of Income Tax, Central Circle-1, Raipur

Appeals of the assessee are partly allowed, in terms of our observations herein above

ITA 104/RPR/2022[2017-18]Status: DisposedITAT Raipur02 Nov 2023AY 2017-18

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.101, 102, 103 & 104/Rpr/2022 (िनधा"रण वष" /Assessment Years: 2014-15, 2015-16, 2016-17 & 2017-18) V. Hitesh Golchha Acit, Prop. Of Mouli Investment, Central Circle-1 Jeevan Ganga, Near Dani Bada, Raipur Budha Para, Raipur – 492 001 Chhattisgarh [Pan: Agjpg 7698 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri B. Subramanyam, C.A. ""यथ" क" ओर से /Respondent By : Shri S. K. Meena, Cit-D.R. सुनवाई क" तार"ख/Date Of Hearing : 13.09.2023 घोषणा क" तार"ख /Date Of Pronouncement : 02.11.2023

For Appellant: Shri B. Subramanyam, C.AFor Respondent: Shri S. K. Meena, CIT-D.R
Section 153ASection 263Section 43C

…ues should not be reactivated beyond a particular stage and that lapse of time must induce repose in and set at rest judicial and quasi- judicial controversies as it must in other spheres of human activity. [See Parashuram Pottery Works Co. Ltd. v. ITO [1977] 106 ITR 1 (SC)]" C. PCIT Vs. Delhi Airport Metro Express Private Limited [ITA No.705/2017][(2017) 398 ITR 8(Del.H)(refer page no. 164 to 167 of paper book): Wherein it was held by the Hon'ble Delhi High Court that "for the purpose of exercising jurisdiction u./s. 263 of the Act, the conclusion that the order of the AO is erroneous and prejudicial to the inte…

Hitesh Golchha, Raipur vs. Assistant Commissioner of Income Tax, Central Circle-1, Raipur

Appeals of the assessee are partly allowed, in terms of our observations herein above

ITA 103/RPR/2022[2016-17]Status: DisposedITAT Raipur02 Nov 2023AY 2016-17

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.101, 102, 103 & 104/Rpr/2022 (िनधा"रण वष" /Assessment Years: 2014-15, 2015-16, 2016-17 & 2017-18) V. Hitesh Golchha Acit, Prop. Of Mouli Investment, Central Circle-1 Jeevan Ganga, Near Dani Bada, Raipur Budha Para, Raipur – 492 001 Chhattisgarh [Pan: Agjpg 7698 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri B. Subramanyam, C.A. ""यथ" क" ओर से /Respondent By : Shri S. K. Meena, Cit-D.R. सुनवाई क" तार"ख/Date Of Hearing : 13.09.2023 घोषणा क" तार"ख /Date Of Pronouncement : 02.11.2023

For Appellant: Shri B. Subramanyam, C.AFor Respondent: Shri S. K. Meena, CIT-D.R
Section 153ASection 263Section 43C

…ues should not be reactivated beyond a particular stage and that lapse of time must induce repose in and set at rest judicial and quasi- judicial controversies as it must in other spheres of human activity. [See Parashuram Pottery Works Co. Ltd. v. ITO [1977] 106 ITR 1 (SC)]" C. PCIT Vs. Delhi Airport Metro Express Private Limited [ITA No.705/2017][(2017) 398 ITR 8(Del.H)(refer page no. 164 to 167 of paper book): Wherein it was held by the Hon'ble Delhi High Court that "for the purpose of exercising jurisdiction u./s. 263 of the Act, the conclusion that the order of the AO is erroneous and prejudicial to the inte…

Hitesh Golchha, Raipur vs. Assistant Commissioner of Income Tax, Central Circle-1, Raipur

Appeals of the assessee are partly allowed, in terms of our observations herein above

ITA 102/RPR/2022[2015-16]Status: DisposedITAT Raipur02 Nov 2023AY 2015-16

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.101, 102, 103 & 104/Rpr/2022 (िनधा"रण वष" /Assessment Years: 2014-15, 2015-16, 2016-17 & 2017-18) V. Hitesh Golchha Acit, Prop. Of Mouli Investment, Central Circle-1 Jeevan Ganga, Near Dani Bada, Raipur Budha Para, Raipur – 492 001 Chhattisgarh [Pan: Agjpg 7698 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri B. Subramanyam, C.A. ""यथ" क" ओर से /Respondent By : Shri S. K. Meena, Cit-D.R. सुनवाई क" तार"ख/Date Of Hearing : 13.09.2023 घोषणा क" तार"ख /Date Of Pronouncement : 02.11.2023

For Appellant: Shri B. Subramanyam, C.AFor Respondent: Shri S. K. Meena, CIT-D.R
Section 153ASection 263Section 43C

…ues should not be reactivated beyond a particular stage and that lapse of time must induce repose in and set at rest judicial and quasi- judicial controversies as it must in other spheres of human activity. [See Parashuram Pottery Works Co. Ltd. v. ITO [1977] 106 ITR 1 (SC)]" C. PCIT Vs. Delhi Airport Metro Express Private Limited [ITA No.705/2017][(2017) 398 ITR 8(Del.H)(refer page no. 164 to 167 of paper book): Wherein it was held by the Hon'ble Delhi High Court that "for the purpose of exercising jurisdiction u./s. 263 of the Act, the conclusion that the order of the AO is erroneous and prejudicial to the inte…

Hitesh Golchha, Raipur vs. Assistant Commissioner of Income Tax, Circle-1, Raipur

Appeals of the assessee are partly allowed, in terms of our observations herein above

ITA 101/RPR/2022[2014-15]Status: DisposedITAT Raipur02 Nov 2023AY 2014-15

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.101, 102, 103 & 104/Rpr/2022 (िनधा"रण वष" /Assessment Years: 2014-15, 2015-16, 2016-17 & 2017-18) V. Hitesh Golchha Acit, Prop. Of Mouli Investment, Central Circle-1 Jeevan Ganga, Near Dani Bada, Raipur Budha Para, Raipur – 492 001 Chhattisgarh [Pan: Agjpg 7698 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri B. Subramanyam, C.A. ""यथ" क" ओर से /Respondent By : Shri S. K. Meena, Cit-D.R. सुनवाई क" तार"ख/Date Of Hearing : 13.09.2023 घोषणा क" तार"ख /Date Of Pronouncement : 02.11.2023

For Appellant: Shri B. Subramanyam, C.AFor Respondent: Shri S. K. Meena, CIT-D.R
Section 153ASection 263Section 43C

…ues should not be reactivated beyond a particular stage and that lapse of time must induce repose in and set at rest judicial and quasi- judicial controversies as it must in other spheres of human activity. [See Parashuram Pottery Works Co. Ltd. v. ITO [1977] 106 ITR 1 (SC)]" C. PCIT Vs. Delhi Airport Metro Express Private Limited [ITA No.705/2017][(2017) 398 ITR 8(Del.H)(refer page no. 164 to 167 of paper book): Wherein it was held by the Hon'ble Delhi High Court that "for the purpose of exercising jurisdiction u./s. 263 of the Act, the conclusion that the order of the AO is erroneous and prejudicial to the inte…

ACIT, Circle - 7(1), Kolkata vs. M/S. Britannia Industries Ltd., Kolkata

In the result, appeal of the revenue in ITA No

ITA 2644/KOL/2018[2014-15]Status: DisposedITAT Kolkata27 Oct 2023AY 2014-15

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Ble

For Appellant: Shri N.S. Saini, A/RFor Respondent: Shri Abhijit Kundu, CIT, D/R and Shri G
Section 115Section 143(2)Section 14ASection 250Section 92C

…e guarantee fee income @ 0.30% which is higher than 0.25% rate as held by this Tribunal and, therefore, as per the Rule of consistency as held by the Hon’ble Apex Court in the case of Parashuram Pottery Works Co. Ltd. vs. Income-tax Officer reported in [1977] 106 ITR 1 (SC), claim of assessee needs to be accepted. 7.2. On the other hand, the ld. D/R, though vehemently argued referring to the written submissions dt. 31/08/2021, placing reliance on various decisions in order to support the addition made by the Assessing Officer, however, he failed to controvert that the facts in the instant case are similar to that…

Assistant Commissioner of Income Tax, Circle-1, Guwahati vs. M/S. Linkstar Promoters (P) Ltd, Kolkata

In the result, both the appeals of the Revenue are dismissed

ITA 9/GTY/2021[2012-13]Status: DisposedITAT Guwahati25 Sept 2023AY 2012-13

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

Section 143(3)Section 68

…ent for the reason of failure on the part of the assessee, such reopening proceedings cannot be held to be valid. We would like to place reliance on the judgment of the Hon’ble Supreme Court in the case of Parashuram Pottery Works Co. Limited –vs.- ITO (1977) 106 ITR 1 (SC) as well as that in the case of Chhugamal Rajpal –vs.- SP Chaliha, ITO & Others (1971) 79 ITR 603 (SC) and that of the Hon’ble Delhi High Court in the case of Sarthak Securities Co. Pvt. Limited –vs.- ITO (2010) 329 ITR 110. We are of the view that the reassessment proceedings carried out under section 147 of the Act after the lapse of four yea…

Assistant Commissioner of Income Tax, Circle-1, Guwahati vs. M/S. Winner Dealtrade (P) Ltd., Kolkata

In the result, both the appeals of the Revenue are dismissed

ITA 13/GTY/2021[2012-13]Status: DisposedITAT Guwahati25 Sept 2023AY 2012-13

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

Section 143(3)Section 68

…ent for the reason of failure on the part of the assessee, such reopening proceedings cannot be held to be valid. We would like to place reliance on the judgment of the Hon’ble Supreme Court in the case of Parashuram Pottery Works Co. Limited –vs.- ITO (1977) 106 ITR 1 (SC) as well as that in the case of Chhugamal Rajpal –vs.- SP Chaliha, ITO & Others (1971) 79 ITR 603 (SC) and that of the Hon’ble Delhi High Court in the case of Sarthak Securities Co. Pvt. Limited –vs.- ITO (2010) 329 ITR 110. We are of the view that the reassessment proceedings carried out under section 147 of the Act after the lapse of four yea…

Vrushali Sanjay Shinde, Mumbai vs. DCIT, CC- 1, Thane

In the result, appeal filed by the assessee is partly allowed

ITA 198/MUM/2022[2008-09]Status: DisposedITAT Mumbai08 Sept 2023AY 2008-09

Bench: Shri Kuldip Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blevrushali Sanjay Shinde V. Dcit, Central Circle-1 282, Boundary Road B-101, Marigold, Prestige Residency G.B. Road, Kavesar, Thane- 400607 Civil Line, Meerut - 250001 Pan: Ajnps5211K (Appellant) (Respondent) Assessee Represented By : Shri Sankalp Malik Department Represented By : Shri Shanti Subramanian

Section 132Section 142Section 142(1)Section 153ASection 153C

…on that the Revenue is not entitled to second inning, for correction of its own mistake. Assessee cannot be made to run again for many more years for contesting the litigation. Hon'ble Supreme Court also in the case of Parashuram Pottery Works Co. Ltd. v. ITO 106 ITR 1 observed that "It has been said that the taxes are the price that we pay for civilization. If so, it is essential that those who are entrusted with the task of calculating and realising that price should familiarise themselves with the relevant provisions and become well-versed with the law on the subject. Any remissness on their part can only be a…

New Higher Secondary School, Trivandrum vs. DCIT, Trivandrum

In the result, the appeals by the assessee are dismissed

ITA 55/COCH/2023[2015-16 QUARTER 4]Status: HeardITAT Cochin28 Aug 2023

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Sreeram Sekar, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 200ASection 234E

…absence of negligence, and (b) proof of satisfactory level of diligence, are found completely missing in the instant case. To us it is no more than an attempt to rake up a stale matter, strongly disapproved in Parashuram Pottery Works Co. Ltd. vs. ITO [1977] 106 ITR 1 (SC). 4.3 The assessee before us relies on the decision in Collector, Land Acquisition v. Mst. Katiji &Ors.[1987] 167 ITR 471 (SC), claiming it to be squarely applicable inasmuch as it stands clarified therein that where technical matters and that of substantial justice are pitted against each other, the case of the latter must be preferred. The s…

New Higher Secondary School, Trivandrum vs. DCIT, Trivandrum

In the result, the appeals by the assessee are dismissed

ITA 54/COCH/2023[2015-16 (Qurt-3)]Status: DisposedITAT Cochin28 Aug 2023

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Sreeram Sekar, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 200ASection 234E

…absence of negligence, and (b) proof of satisfactory level of diligence, are found completely missing in the instant case. To us it is no more than an attempt to rake up a stale matter, strongly disapproved in Parashuram Pottery Works Co. Ltd. vs. ITO [1977] 106 ITR 1 (SC). 4.3 The assessee before us relies on the decision in Collector, Land Acquisition v. Mst. Katiji &Ors.[1987] 167 ITR 471 (SC), claiming it to be squarely applicable inasmuch as it stands clarified therein that where technical matters and that of substantial justice are pitted against each other, the case of the latter must be preferred. The s…

New Higher Secondary School, Trivandrum vs. DCIT, Trivandrum

In the result, the appeals by the assessee are dismissed

ITA 53/COCH/2023[2015-16 QTR 2]Status: DisposedITAT Cochin28 Aug 2023

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Sreeram Sekar, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 200ASection 234E

…absence of negligence, and (b) proof of satisfactory level of diligence, are found completely missing in the instant case. To us it is no more than an attempt to rake up a stale matter, strongly disapproved in Parashuram Pottery Works Co. Ltd. vs. ITO [1977] 106 ITR 1 (SC). 4.3 The assessee before us relies on the decision in Collector, Land Acquisition v. Mst. Katiji &Ors.[1987] 167 ITR 471 (SC), claiming it to be squarely applicable inasmuch as it stands clarified therein that where technical matters and that of substantial justice are pitted against each other, the case of the latter must be preferred. The s…

New Higher Secondary School, Trivandrum vs. DCIT, Trivandrum

In the result, the appeals by the assessee are dismissed

ITA 52/COCH/2023[2015-16 (QT1)]Status: DisposedITAT Cochin28 Aug 2023

Bench: Shri Sanjay Arora & Shri Manomohan Das

For Appellant: Shri Sreeram Sekar, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 200ASection 234E

…absence of negligence, and (b) proof of satisfactory level of diligence, are found completely missing in the instant case. To us it is no more than an attempt to rake up a stale matter, strongly disapproved in Parashuram Pottery Works Co. Ltd. vs. ITO [1977] 106 ITR 1 (SC). 4.3 The assessee before us relies on the decision in Collector, Land Acquisition v. Mst. Katiji &Ors.[1987] 167 ITR 471 (SC), claiming it to be squarely applicable inasmuch as it stands clarified therein that where technical matters and that of substantial justice are pitted against each other, the case of the latter must be preferred. The s…

Nimita Soni Prop. Swaranlata Traders, Bikaner vs. PCIT-1, Jodhpur

In the result, appeal of the assessee in ITA no

ITA 41/JODH/2022[2017-18]Status: DisposedITAT Jodhpur21 Aug 2023AY 2017-18

Bench: The Hearing.”

Section 143(3)Section 263

…sues should not be reactivated beyond a particular stage and that lapse of time must induce repose in and set at rest judicial and quasi-judicial controversies as it must in ether spheres of human activity. (See Parashuram Pottery Works Co. Ltd. v. ITO [1977) 106 ITR 1 (SC) at page 10) ...." From the aforesaid definitions it is clear that an order cannot be termed as erroneous unless it is not in accordance with law. If an Income-tax officer acting in accordance with law makes a certain assessment, the same cannot be branded as 'erroneous by the Commissioner simply because, according to him, the order should hav…

Rits Jewellers Pvt.Ltd., New Delhi vs. Pr, CIT, Faridabad

The Appeal of the assessee stands allowed

ITA 1886/DEL/2022[2015-16]Status: DisposedITAT Delhi27 Jul 2023AY 2015-16

Bench: Initiating The Proceeding As No Enquiry Was Made By Pr. Cit In Arriving At Conclusion Which Is Contrary In View Of The Jurisdictional & Other High Courts & The Apex Court. D. That Once The Sums Have Been Received Through Banking Channels & Complete Evidences Was Provided During The Course Of The Assessment, Suspicion Raised Purely On Assumptions Is Wholly Unsustainable In Law.

Section 142(1)Section 143(2)Section 143(3)Section 263

…ues should not be reactivated beyond a particular stage and that lapse of time must induce repose in and set at rest judicial and quasi-judicial controversies as it must in other spheres of human activity. [See : Parashuram Pottery Works Co. Ltd. v. ITO[1977] 106 ITR 1 (SC) at page 10]. ......” 9. It is relevant to observe that the similar observations have been made for the Assessment Year 2014-15 in assesse’s own case by the PCIT while passing order u/s 263 of the Act regarding various companies including 8 Rits Jewelers Pvt. Ltd. Vs. Pr. CIT business Texcity Construction Kovai Pvt. Ltd. and the said issu…