Parikh & Co. v. CIT

122 ITR 610High Court1980#4283 most cited

What is Parikh & Co. v. CIT authority for?

The Commissioner can exercise revisional powers under Section 264 in favour of the assessee to pass an order that is not prejudicial to them, based on the record of any proceeding.

27

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2021 to 2024.

Also referred to as

Parikh & Co. v. CIT · Section 264 · revisional powers · Commissioner · assessee · record of proceeding · not prejudicial to assessee

Also reported as

4 Taxmann 224

Sections most often in play

Section 153CSection 153ASection 143(3)Section 132Section 147Section 132(4)Section 131(1A)Section 143(1)

Issues it is cited on

section 80p(2)(c)(ii)section 158bb(1)retraction of statementsection 158bbsection 131(1a)section 153c(1)within four yearssection 292bsection 34block periodsection 153bmistake apparent from record

Judgments citing Parikh & Co. v. CIT

Madhu Kumar Patel, Hyderabad vs. ADIT, (Int. Taxn)-2, Hyderabad

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

ITA 395/HYD/2022[2015-16]Status: DisposedITAT Hyderabad26 Dec 2022AY 2015-16

Bench: Shri R.K. Panda & Shri K. Narasimha Charyassessment Year:2015-16 Shri Madhu Kumar Patel Vs. A.D.I.T (Intl.Taxation)-2 Hyderabad Hyderabad Pan:Bvdpp3797G (Appellant) (Respondent) Assessee By: Shri K.A. Sai Prasad, Ca Revenue By: Shri Rajendra Kumar, Cit(Dr) Date Of Hearing: 10/11/2022 Date Of Pronouncement: 26/12/2022 Order Per R.K. Panda, A.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 19.7.2022 Passed U/S 147 R.W.S. 144C(13) Of The I.T. Act For The A.Y 2015-16. 2. Facts Of The Case, In Brief, Are That The Assessee Is An Individual & A Resident Of The U.K. He Filed His Return Of Income On 31.08.2015 Declaring Total Income At Rs.2,91,07,000/- As Income From Long Term Capital Gain.

For Appellant: Shri K.A. Sai Prasad, CAFor Respondent: Shri Rajendra Kumar, CIT(DR)
Section 147Section 148Section 2(47)(v)

…he learned Counsel for the assessee relied on the following decisions: 1) CIT vs. Shelly Products and another (261 ITR 367) (S.C) 2) CIT vs. Bharat General Reinsurance Co. Ltd (81 ITR 303) (Del.). 3) Prithvi Share Brokers (349 ITR 336) (Mum) 4) Parikh & Co. (122 ITR 610) Guj. High Court) 5) S.R. Kosthi vs. CIT (276 ITR 165 (Guj.H.C) 6) Sanghi Industries vs. ACIT (ITA Nos.979 to 1001/Hyd/2017) 13. He accordingly submitted that the Assessing Officer should be directed to delete the sum of Rs.2,91,07,000/- since the same has already been considered for taxation in the A.Y 2014-15. 14. The learned DR, on the other…

Income-Tax Officer, Ward - 8(2), Pune vs. Jagtap Patil Promoters & Builders, Pune

In the result, appeal of the Revenue is Allowed

ITA 35/PUN/2018[2014-15]Status: DisposedITAT Pune24 Nov 2022AY 2014-15

Bench: Shri Partha Sarathi Chaudhury & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.35/Pun/2018 िनधा"रणवष" / Assessment Year : 2014-15 The Income Tax Officer, Jagtap Patil Promoters & Ward-8(2), Pune. Vs Builders, S.No.152, Pimple Gurav, Pune – 411061. Pan: Aagfj 0403 N Appellant/ Assessee Respondent / Revenue Assessee By Shri Suniol Ganoo – Ar Revenue By Shri M.M.Chate – Dr Date Of Hearing 29/08/2022 Date Of Pronouncement 24/11/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Revenue I.E. Income Tax Officer, Ward-8(2), Pune For The A.Y. 2014-15 Against The Order Of The Ld.Cit(A)- 6, Pune Dated 04.10.2017 Emanating From The Assessment Order Dated 30/12/2016 Passed By The Ito Ward 8(2) Pune U/S 143(3) Of The Income Tax Act. The Grounds Of Appeal Are As Under: “1. Whether On The Facts & Circumstances Of The Case & In Law The Ld. Cit(A) Was Justified In Not Appreciating That It Was Only After Scrutiny Proceedings Started That The Assessee Paid The Mat. Thus By Filing Nil Return & Not Claiming Deduction U/S 80Ib(10) The Assessee Was Trying To Evade Payment Of Taxes. The Claim Of The Assessee That Filing Of Nil Return Was Clerical Error Does Not Hold Ground? 2. Whether On The Facts & Circumstances Of The Case & In Law The Ld. Cit(A) Is Justified In Not Appreciating The Ratio Laid

Section 143(3)Section 271(1)(b)Section 80ASection 80I

…facts on record, the Petitioners could sustain the said claim in law. This is very clear from the series of Judgments of various High Courts. Reference can be made to the decision of High Court of Gujarat in case of C. Parikh & Co. v. CIT [1980] 4 Taxman 224/122 ITR 610 In the said decision, the Court held that: 'it is clear that under Section 264, the CIT is empowered to exercise revisional powers in favour of the assessee. In exercise of this power, the CIT may, either of his own motion or on an application by the assessee, call for the record of any proceeding under the Act and pass such order thereon not be…

Lekha Pariksha Vibhag Karmchari Sahakari Patsanstha Ltd, Thane vs. CPC, Bangalore

In the result, we do not find any merit in the Writ Petition, the same is therefore dismissed

ITA 268/MUM/2022[2019-20]Status: DisposedITAT Mumbai01 Jun 2022AY 2019-20

Bench: Us. We Find That The Said Delay Has Been Properly

Section 10BSection 139Section 139(1)Section 139(4)Section 143(1)Section 80ASection 80P

…facts on record, the Petitioners could sustain the said claim in law. This is very clear from the series of Judgments of various High Courts. Reference can be made to the decision of High Court of Gujarat in case of C. Parikh & Co. v. CIT [1980] 4 Taxman 224/122 ITR 610 In the said decision, the Court held that: 'it is clear that under Section 264, the CIT is empowered to exercise revisional powers in favour of the assessee. In exercise of this power, the CIT may, either of his own motion or on an application by the assessee, call for the record of any proceeding under the Act and pass such order thereon not bei…

Guru Tegbahadur Co-Op. Credit Society Ltd., Mumbai vs. ITO, Ward 26 (1)(5), Mumbai

The appeal of the assessee is dismissed

ITA 3947/MUM/2019[2014-15]Status: DisposedITAT Mumbai20 Sept 2021AY 2014-15

Bench: Shri Vikas Awasthyआअसं. 3946 /मुं/2019("न.व.2014-15) Raj Tarang 1 Housing Society, Shiv Vallabh Cross Road, Ashokvan, Rawalpada, Dahisar East, : अपीलाथ"/ Appellant Mumbai 400 068. Pan:Aaaar-6740-H बनाम/ Vs.

For Respondent: Shri Sanjay J. Sethi/
Section 80A(5)Section 80PSection 80P(2)(c)Section 80P(2)(d)

…facts on record, the Petitioners could sustain the said claim in law. This is very clear from the series of Judgments of various High Courts. Reference can be made to the decision of High Court of Gujarat in case of C. Parikh & Co. v. CIT [1980] 4 Taxman 224/122 ITR 610 In the said decision, the Court held that: 'it is clear that under Section 264, the CIT is empowered to exercise revisional powers in favour of the assessee. In exercise of this power, the CIT may, either of 9 ITA NO. 3946 & 3947/MUM/2019(A.Y.2014-15) his own motion or on an application by the assessee, call for the record of any proceeding un…

Raj Tarang Housing Society, Mumbai vs. ITO, Ward 32(3)(1), Mumbai

The appeal of the assessee is dismissed

ITA 3946/MUM/2019[2014-15]Status: DisposedITAT Mumbai20 Sept 2021AY 2014-15

Bench: Shri Vikas Awasthyआअसं. 3946 /मुं/2019("न.व.2014-15) Raj Tarang 1 Housing Society, Shiv Vallabh Cross Road, Ashokvan, Rawalpada, Dahisar East, : अपीलाथ"/ Appellant Mumbai 400 068. Pan:Aaaar-6740-H बनाम/ Vs.

For Respondent: Shri Sanjay J. Sethi/
Section 80A(5)Section 80PSection 80P(2)(c)Section 80P(2)(d)

…facts on record, the Petitioners could sustain the said claim in law. This is very clear from the series of Judgments of various High Courts. Reference can be made to the decision of High Court of Gujarat in case of C. Parikh & Co. v. CIT [1980] 4 Taxman 224/122 ITR 610 In the said decision, the Court held that: 'it is clear that under Section 264, the CIT is empowered to exercise revisional powers in favour of the assessee. In exercise of this power, the CIT may, either of 9 ITA NO. 3946 & 3947/MUM/2019(A.Y.2014-15) his own motion or on an application by the assessee, call for the record of any proceeding un…

Datta Prasad Sahakari Patsanstha Ltd, Mumbai vs. Income Tax Officer -26(3)(2), Mumbai

In the result, appeal is partly allowed

ITA 6029/MUM/2019[2011-12]Status: DisposedITAT Mumbai08 Sept 2021AY 2011-12

Bench: Shri Saktijit Dey () & Shri Rajesh Kumar ()

Section 10ASection 10BSection 143(1)Section 154Section 80A(5)Section 80P(2)(a)

…facts on record, the Petitioners could sustain the said claim in law. This is very clear from the series of Judgments of various High Courts. Reference can be made to the decision of High Court of Gujarat in case of C. Parikh & Co. v. CIT [1980] 4 Taxman 224/122 ITR 610 In the said decision, the Court held that: 'it is clear that under Section 264, the CIT is empowered to exercise revisional powers in favour of the assessee. In exercise of this power, the CIT may, either of his own motion or on an application by the assessee, call for the record of any proceeding under the Act and pass such order thereon not bei…

The ITO, Ward-4, Morbi vs. M/S Raiyani Cotton Industries, Morbi

In the result, the appeal filed by the Revenue is dismissed

ITA 129/RJT/2016[2011-12]Status: DisposedITAT Rajkot18 Aug 2021AY 2011-12

Bench: Shri Pradip Kumar Kedia & Ms. Madhumita Royआयकर अपील सं./I.T.A No. 129/Rjt/2016 ("नधा"रण वष" / Assessment Years: 2011-12)

For Appellant: Shri M. J. Ranpura, ARFor Respondent: 07/07/2021
Section 143(3)Section 40A(3)Section 68Section 80G

…interests of the Revenue. " The same principle applied if the assessee paid tax in excess of what he is liable to pay as per the Act. (d) JUTE CORPORATION OF INDIA LTD. Vs. CIT & ANR. (1991) 187 ITR 688 (SC); (e) In the case of C. PARIKH & CO. Vs. CIT (1980) 122 ITR 610 (GUJ) the assessee was assessed U/s. 143(3) on the basis of return filed. Subsequently, the assessee found that there were discrepancies in the balance-sheet as a matter of which he was over assessed. The assessee made an application to Commissioner of Income Tax u/s.264. CIT has rejected the assesse 's request. The matter goes to Gujarat High Co…