Principal Commissioner of Income Tax v. Meenakshi Overseas (P.) Ltd.

81 Taxmann.com 109High Court2017#7292 most cited
16

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Also reported as

367 ITR 568

Sections most often in play

Section 1961Section 148Section 10(38)Section 143(1)Section 143(3)Section 147Section 68Section 131

Issues it is cited on

borrowed satisfactionlive linkescapement of incometangible materialreopening of assessmentreason to believeaddition u/s 68commissioner (appeals)reassessment proceedingsgenuineness of the transactionsection 133(6)section 143(1)

Judgments citing Principal Commissioner of Income Tax v. Meenakshi Overseas (P.) Ltd.

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), KOLKATA, KOLKATA vs. SIDDHESHWARI VYAPAAR PRIVATE LIMITED, KOLKATA

In the result, appeal of the revenue is dismissed

ITA 2280/KOL/2025[2012-13]Status: DisposedITAT Kolkata23 Dec 2025AY 2012-13

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyआयकर अपील सं/Ita No.2280/Kol/2025 (निर्धारणवर्ा/Assessment Years :2012-2013) Dcit, Central Circle-1(2), Vs Siddheshwarivyapaar Pvt Ltd Kolkata 2Nd Floor, 159, Ravindra Sarani Kolkata-700007 Pan No. :Aancs 2337 J (अपीलधर्थी /Appellant) .. (प्रत्यर्थी / Respondent) रधजस्वकीओरसे /Revenue By : Shri Sanat Kumar Raha, Cit-Dr निर्धाररतीकीओरसे /Assessee By : Shrisoumitra Choudhury & Rainak Jain, Advocates सुनवाई की तारीख / Date Of Hearing : 09/12/2025 घोषणा की तारीख/Date Of Pronouncement : 23.12.2025 आदेश / O R D E R Per Rajesh Kumar, Am: This Is An Appeal Filed By The Revenueagainst The Order Passed By The Ld. Cit(A), Kolkata-20, Dated 06.05.2025For The Assessment Year2012-2013. 2. The Appeal Of The Revenue Is Barred By 69 Days. Considering The Submissions Of The Ld. Cit-Dr & Looking To The Facts Of The Case, We Condone The Delay Of 69 Days In Filing The Present Appeal By The Revenue & The Appeal Is Admitted For Hearing. 3. The Only Issue Raised In This Appeal Is Against The Order Of The Ld. Cit(A) In Deleting The Addition Of Rs.6,82,00,000/- Made U/S.68 Of The Act On Account Of Unexplained Cash Credits Received From Shell Entities In The Guise Of Share Capital.

For Appellant: ShriSoumitra Choudhury and Rainak Jain, AdvocatesFor Respondent: Shri Sanat Kumar Raha, CIT-DR
Section 131Section 133(6)Section 143(2)Section 143(3)Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, KOLKATA BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER आयकर अपील सं/ITA No.2280/KOL/2025 (निर्धारणवर्ा/Assessment Years :2012-2013) DCIT, Central Circle-1(2), Vs SiddheshwariVyapaar Pvt Ltd Kolkata 2nd Floor, 159, Ravindra Sarani Kolkata-700007 PAN No. :AANCS 2337 J (अपीलधर्थी /Appellant) .. (प्रत्यर्थी / Respondent) रधजस्वकीओरसे /Revenue by : Shri Sanat Kumar Raha, CIT-DR निर्धाररतीकीओरसे /Assessee by : ShriSoumitra Choudhury and Rainak Jain, Advocates सुनवाई की तारीख / Date of Hearing : 09/12/2025 घोषणा की तारीख/Date of…

SH. BALJINDER KUMAR AGGARWAL 171, MODEL TOWN LUDHIANA,PUNJAB vs. JATIN ABBI THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 LUDHIANA, PUNJAB

In the result, appeal of the Assessee is partly allowed

ITA 689/CHANDI/2024[2012-2013]Status: DisposedITAT Chandigarh17 Sept 2025AY 2012-2013

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwalआयकर अपील सं./ Ita No. 689/Chd/2024 िनधा"रण वष" / Assessment Year : 2012-13 बनाम Shri Baljinder Kumar Aggarwal, The Acit, 171, Model Town, Circle-1, Vs Ludhiana. Ludhiana. "थायी लेखा सं./Pan /Tan No: Bmcpk7473A अपीलाथ"/Appellant ""यथ"/Respondent िनधा"रती क" ओर से/Assessee By : Shri Sudhir Sehgal, Advocate राज"व क" ओर से/ Revenue By : Shri Manav Bansal, Cit, Dr तारीख/Date Of Hearing : 21.08.2025 उदघोषणा क" तारीख/Date Of Pronouncement : 17.09.2025

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR
Section 10(38)Section 143(1)Section 148

…आयकर अपीलीय अिधकरण,च"डीगढ़ "यायपीठ , च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH ‘A’ CHANDIGARH BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 689/CHD/2024 िनधा"रण वष" / Assessment Year : 2012-13 बनाम Shri Baljinder Kumar Aggarwal, The ACIT, 171, Model Town, Circle-1, VS Ludhiana. Ludhiana. "थायी लेखा सं./PAN /TAN No: BMCPK7473A अपीलाथ"/Appellant ""यथ"/Respondent िनधा"रती क" ओर से/Assessee by : Shri Sudhir Sehgal, Advocate राज"व क" ओर से/ Revenue by : Shri Manav Bansal, CIT, DR तारीख/Date of Hearing : 21.08.2025 उदघोषणा क" तारीख…

AVI AGGARWAL, H.NO. 171-R, MODEL TOWN, LUDHIANA,PUNJAB vs. ASSESSMENT UNIT NFAC, DELHI, JAO ITO WARD6(1), AAYAKAR BHAWAN, RISHI NAGAR, LUDHIANA, PUNJAB

ITA 971/CHANDI/2024[2012-13]Status: DisposedITAT Chandigarh23 Jun 2025AY 2012-13

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR
Section 10Section 143(1)Section 148Section 68

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH "ी राजपाल यादव, उपा"" एवं "ी कृणव" सहाय, लेखा सद" BEFORE: SHRI. RAJPAL YADAV, VP & SHRI. KRINWANT SAHAY, AM आयकर अपील सं./ ITA No. 971/Chd/2024 िनधा"रण वष" / Assessment Year : 2012-13 Avi Aggarwal, बनाम The ITO H.No. 171-R, Model Town, Ward -6(1), Ludhiana, Punjab-141002 Ludhiana "ायी लेखा सं./PAN NO: AMJPA7843C अपीलाथ"/Appellant ""थ"/Respondent ( PHYSICAL HEARING ) िनधा"रती की ओर से/Assessee by : Shri Sudhir Sehgal, Advocate राज" की ओर से/ Revenue by : Shri Manav Bansal, CIT, DR सुनवाई की तारीख/Dat…

LAXMIDHAN TRADELINK PVT. LTD.,KOLKATA vs. ITO, WARD-2(2), KOLKATA

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 1428/KOL/2023[2011-12]Status: DisposedITAT Kolkata23 May 2025AY 2011-12

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

Section 11Section 147Section 148Section 250Section 68

…आयकर अपीलीय अधिकरण कोलकाता 'एसएमसी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘SMC’ BENCH, KOLKATA श्री संजय शमाा, न्याधयक सदस्य एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SHRI SONJOY SARMA, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. No.: 1428/KOL/2023 Assessment Year: 2011 -12 Laxmidhan Tradelink Pvt. Ltd. ITO, Ward-2(2), Kolkata Vs. (Appellant) (Respondent) PAN: AABCL7682F Appearances: Assessee represented by : None. Department represented by : Madhumita Das, Addl. CIT, Sr. DR. Date of concluding the hearing : February 25th, 2025 Date of pronouncing the order : May…

QUADEYE SECURITIES PVT. LTD.,KOLKATA vs. DCIT, CIR. 11(1), KOLKATA

In the result, the appeal of the assessee stands allowed

ITA 792/KOL/2024[2011-12]Status: DisposedITAT Kolkata07 Oct 2024AY 2011-12

Bench: Shri Sanjay Garg & Shri Rakesh Mishrai.T.A. No.792/Kol/2024 Assessment Year: 2011-12 Quadeye Securities Pvt. Ltd..………...........………………....Appellant 184, Harish Mukherjee Road, 1St Floor, Kolkata-700026. [Pan: Aabce7790H] Vs. Dcit, Circle-11(1), Kolkata….………….…............................…..…..... Respondent Appearances By: Shri A. K. Tibrewal, Fca, Appeared On Behalf Of The Assessee. Shri Vineet Kumar, Addl. Cit- Sr. Dr, Appeared On Behalf Of The Revenue. Date Of Concluding The Hearing : July 08, 2024 Date Of Pronouncing The Order : October 07, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 29.02.2024 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Is Aggrieved By The Action Of The Ld. Cit(A) In Confirming The Addition Made By The Assessing Officer On Account Of Disallowance Of Loss Of Rs.2,47,48,393/- Incurred By The Assessee In Commodities Dealing In National Multi Commodity Exchange Of India Limited (‘Nmce’) Platform & Further Making Addition Of Rs.4,92,263/- U/S 69C Of The Act On Account Of Alleged Commission That Might Have Been Paid By The Assessee In Booking The Aforesaid Bogus Loss In Commodity Trading.

Section 147Section 250Section 69C

…आयकर अपील"य अ"धकरण, कोलकाता पीठ, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOLKATA Before Shri Sanjay Garg, Judicial Member and Shri Rakesh Mishra, Accountant Member I.T.A. No.792/Kol/2024 Assessment Year: 2011-12 Quadeye Securities Pvt. Ltd..………...........………………....Appellant 184, Harish Mukherjee Road, 1st Floor, Kolkata-700026. [PAN: AABCE7790H] vs. DCIT, Circle-11(1), Kolkata….………….…............................…..…..... Respondent Appearances by: Shri A. K. Tibrewal, FCA, appeared on behalf of the assessee. Shri Vineet Kumar, Addl. CIT- Sr. DR, appeared on behalf of the Revenue. Date of concludi…

ITO, WARD-52(2), NEW DELHI vs. GAURAV KHULLAR, NEW DELHI

In the result, the appeal of the revenue is dismissed

ITA 7752/DEL/2018[2010-11]Status: DisposedITAT Delhi28 May 2024AY 2010-11

Bench: Shri M Balaganesh & Shri Vimal Kumarasstt. Year: 2010-11 Ito Ward-52(2) Vs. Gaurav Khullar New Delhi. A-301/6. Dr. A.P.J Kalam Marg, New Delhi – 110 011 Pan Aaypk9694G (Appellant) (Respondent)

For Appellant: Shri Sudesh Garg, AdvocateFor Respondent: Ms. Anu Krishna Aggarwal
Section 131Section 142(1)Section 144Section 147Section 148Section 271(1)Section 271(1)(b)

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”: NEW DELHI BEFORE SHRI M BALAGANESH, ACCOUNTANT MEMBER AND SHRI VIMAL KUMAR, JUDICIAL MEMBER Asstt. Year: 2010-11 ITO Ward-52(2) Vs. Gaurav Khullar New Delhi. A-301/6. Dr. A.P.J Kalam Marg, New Delhi – 110 011 PAN AAYPK9694G (Appellant) (Respondent) Assessee by: Shri Sudesh Garg, Advocate Department by: Ms. Anu Krishna Aggarwal, CIT(DR) Date of Hearing: 13.05.2024 Date of 28.05.2024 pronouncement: O R D E R PER VIMAL KUMAR, JM The appeal is against order dated 28.09.2018 of the Learned Commissioner of Income Tax (Appeals) [Learned “CIT(A)”] through which assess…

LAKSHMAN TOOLS PVT. LTD.,NEW DELHI vs. ITO, NEW DELHI

In the result, appeals are dismissed

ITA 2136/DEL/2017[2011-12]Status: DisposedITAT Delhi29 Aug 2023AY 2011-12

Bench: Shri G.S. Pannu & Shri Saktijit Deyassessment Year: 2009-10 With Assessment Year: 2011-12

Section 133(6)Section 143(1)Section 147

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘D’ NEW DELHI BEFORE SHRI G.S. PANNU, PRESIDENT AND SHRI SAKTIJIT DEY, JUDICIAL MEMBER Assessment Year: 2009-10 With Assessment Year: 2011-12 M/s. Lakshman Tools Pvt. Vs. Income Tax Officer, Ltd., Ward-15(1), 1315, Ansal Tower, New Delhi 39, Nehru Place, New Delhi PAN :AAACL2382D (Appellant) (Respondent) Assessee by Sh. Ram Avatar Sharma, CA Sh. Bhupesh Agarwal, CA Department by Sh. Virendra Singh, Sr. DR Sh. Sanjay Kumar, Sr. DR Date of hearing 25.08.2023 Date of pronouncement 29.08.2023 ORDER The present appeals have been filed by the assessee against a co…

LAKSHMAN TOOLS PVT. LTD.,NEW DELHI vs. ITO, NEW DELHI

In the result, appeals are dismissed

ITA 2135/DEL/2017[2009-10]Status: DisposedITAT Delhi29 Aug 2023AY 2009-10

Bench: Shri G.S. Pannu & Shri Saktijit Deyassessment Year: 2009-10 With Assessment Year: 2011-12

Section 133(6)Section 143(1)Section 147

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘D’ NEW DELHI BEFORE SHRI G.S. PANNU, PRESIDENT AND SHRI SAKTIJIT DEY, JUDICIAL MEMBER Assessment Year: 2009-10 With Assessment Year: 2011-12 M/s. Lakshman Tools Pvt. Vs. Income Tax Officer, Ltd., Ward-15(1), 1315, Ansal Tower, New Delhi 39, Nehru Place, New Delhi PAN :AAACL2382D (Appellant) (Respondent) Assessee by Sh. Ram Avatar Sharma, CA Sh. Bhupesh Agarwal, CA Department by Sh. Virendra Singh, Sr. DR Sh. Sanjay Kumar, Sr. DR Date of hearing 25.08.2023 Date of pronouncement 29.08.2023 ORDER The present appeals have been filed by the assessee against a co…

SUNITA MADHOK ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1(2)(1), BANGALORE

In the result, the appeals by the assessee are partly allowed

ITA 555/BANG/2018[2007-08]Status: DisposedITAT Bangalore11 Oct 2021AY 2007-08

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H.N. Khincha, CAFor Respondent: Smt. H. Kabila, Addl.CIT(DR)(ITAT), Bengaluru
Section 234BSection 69

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos.554 & 555/Bang/2018 Assessment years : 2006-07 & 2007-08 Sunita Madhok, Vs. The Assistant Commissioner L/R of late Sri Romesh Madhok, of Income Tax, # 327, 5th Main Road, 1st Block, Circle 1(2)(1), Koramangala, Bengaluru. Bangalore – 560 004. PAN: ABJPM 9641D APPELLANT RESPONDENT Appellant by : Shri H.N. Khincha, CA Respondent by : Smt. H. Kabila, Addl.CIT(DR)(ITAT), Bengaluru. Date of hearing : 23.08.2021 Date of Pronouncement : 11.10.2021 O R D E R Per Ch…

SUNITA MADHOK ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1(2)(1), , BANGALORE

In the result, the appeals by the assessee are partly allowed

ITA 554/BANG/2018[2006-07]Status: DisposedITAT Bangalore11 Oct 2021AY 2006-07

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H.N. Khincha, CAFor Respondent: Smt. H. Kabila, Addl.CIT(DR)(ITAT), Bengaluru
Section 234BSection 69

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos.554 & 555/Bang/2018 Assessment years : 2006-07 & 2007-08 Sunita Madhok, Vs. The Assistant Commissioner L/R of late Sri Romesh Madhok, of Income Tax, # 327, 5th Main Road, 1st Block, Circle 1(2)(1), Koramangala, Bengaluru. Bangalore – 560 004. PAN: ABJPM 9641D APPELLANT RESPONDENT Appellant by : Shri H.N. Khincha, CA Respondent by : Smt. H. Kabila, Addl.CIT(DR)(ITAT), Bengaluru. Date of hearing : 23.08.2021 Date of Pronouncement : 11.10.2021 O R D E R Per Ch…

PV CORPORATE ADVISORY SERVICES PVT LTD,NEW DELHI vs. ITO WARD - 19(2), NEW DELHI

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

ITA 8027/DEL/2019[2010-11]Status: DisposedITAT Delhi07 Jul 2021AY 2010-11

Bench: Shri R.K. Pandaassessment Year: 2011-12 Pv Corporate Advisory Services Vs. Ito, Pvt. Ltd., Ward-19(3), C/O Rohit Tiwari, New Delhi. 8024, Ats Greens Paradiso, Chi Iv, Noida. Pan: Aadcp7328L (Appellant) (Respondent) Assessee By : Shri Rohit Tiwari, Advocate Revenue By : Shri R.K. Gupta, Sr. Dr Date Of Hearing : 22.06.2021 Date Of Pronouncement : 07.07.2021 Order This Appeal Filed By The Assessee Is Directed Against The Order Dated 30Th May, 2019 Of The Cit(A)-7, New Delhi Relating To Assessment Year 2011-12. 2. The Grounds Raised By The Assessee Are As Under:-

For Appellant: Shri Rohit Tiwari, AdvocateFor Respondent: Shri R.K. Gupta, Sr. DR
Section 143(1)Section 147Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : SMC-1 : NEW DELHI (Through Virtual Hearing) BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER Assessment Year: 2011-12 PV Corporate Advisory Services Vs. ITO, Pvt. Ltd., Ward-19(3), C/o Rohit Tiwari, New Delhi. 8024, ATS Greens Paradiso, CHI IV, Noida. PAN: AADCP7328L (Appellant) (Respondent) Assessee by : Shri Rohit Tiwari, Advocate Revenue by : Shri R.K. Gupta, Sr. DR Date of Hearing : 22.06.2021 Date of Pronouncement : 07.07.2021 ORDER This appeal filed by the assessee is directed against the order dated 30th May, 2019 of the CIT(A)-7, New Delhi relating to assessme…

SEA LINKERS P.LTD,MUMBAI vs. ACIT 8(1)(2), MUMBAI

In the result, appeal of the assessee in ITA no

ITA 2297/MUM/2017[2010-11]Status: DisposedITAT Mumbai03 Jul 2019AY 2010-11

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.2297/Mum/2017 (नििाारण वर्ा / Assessment Year: 2010-11) बिाम/ M/S. Sea Linkers Private Acit 8(1)(2), Ltd., Aayakar Bhavan, Bpt, Plot No. 107, M.K Road V. Quay Street, Darukhana, Mumbai-400020 Mumbai-400010 स्थायी ऱेखा सं./ Pan: Aahcs5084N (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri. Deepak Tralshawala Revenue By: Shri. Manish Kumar Singh,Dr

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. Manish Kumar Singh,DR
Section 143(3)

…pening is not at all justified. In this regard, the ld. Counsel of the assessee placed reliance upon Hon'ble Delhi High Court decision in the case of Principal CIT vs. Meenakshi Overseas (P.) Ltd. [2017] 395 ITR 677 (Delhi), CIT vs. Jyoti Prakash Dutta [2014] 367 ITR 568 (Bom); CIT vs. Vardhman Industries [2014] 363 ITR 625 (Raj); CIT vs. Eastern Commercial Enterprises [1994] 210 ITR 103 (Cal.). The ld. Counsel of the assessee further submitted that findings of the Sales Tax Department have not been given to the assessee and the assessee has not been provided any opportunity to cross examine the said hawala deale…

LAKSHYA ICE & COLD STORAGE P LTD,ALIGARH vs. ITO WARD 1(5), ALIGARH

In the result, by the assessee is allowed

ITA 124/AGR/2018[2010-11]Status: DisposedITAT Agra16 May 2019AY 2010-11

Bench: Shri Sudhanshu Srivastava & Dr. Mitha Lal Meenam/S Lakshya Ice & Cold Storage Pvt. Ltd. Vs.. Income Tax Officer, Goyal Bhawan, Opp. Maheshwari Inter Ward 1(5), Aligarh College, Sasni Gate, Bye Pass Road, Aligarh (Pan: Aabcl5656R) (Respondent) (Appellant)

For Appellant: Sh. Pradeep K. Sahgal, Adv. & Sh. Utsav Sahgal, C.AFor Respondent: Shri Waseem Arshad, Sr.DR
Section 147Section 148Section 234BSection 271(1)(c)Section 68

…me basis by mechanically giving his approval. Therefore, the proceedings under section 148 were to be quashed.” Further, Ld. AR placing reliance on the decision of Hon’ble High 12. Court of Delhi in the case of “PCIT Vs. G&G Pharma India Ltd.(Supra)”, (2017) 81 Taxmann.com 109, contended that reopening of assessment by the AO based on the information received from Director of Investigation without making any effort to discuss the material on the basis of which he formed a prima facie opinion that income has escaped assessment, the basic requirement of section 147 of the Act that the AO should apply independent m…

ITO, NEW DELHI vs. M/S. JAI GAJANAN ENTERPRISES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is dismissed

ITA 4861/DEL/2015[2007-08]Status: DisposedITAT Delhi15 Mar 2019AY 2007-08

Bench: : Shri Amit Shukla & Shri L.P. Sahuassessment Year: 2007-08

Section 132Section 143(3)Section 147Section 148Section 271(1)(c)Section 68

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘F’, New Delhi Before : Shri Amit Shukla, Judicial Member And Shri L.P. Sahu, Accountant Member Assessment Year: 2007-08 Income-tax Officer, vs. Jai Gajanan Enterprises Pvt. Ltd., Ward 13(12), New Delhi. E-292, IInd Floor, Old Double Storey Lane, Ramesh Nagar, New Delhi. PAN-AABCJ6528Q (Appellant) (Respondent) Appellant by Sh. Surender Pal, Sr. DR Respondent by Sh. D.C. Agarwal, Advocate Date of Hearing 26.02.2019 Date of Pronouncement 15.03.2019 ORDER Per L.P. Sahu, A.M.: This appeal filed by the Revenue arises out of the impugned order dated 26.05.2015 of…

M/S. BANSAL OVERSEAS,KARNAL vs. ACIT, KARNAL

Appeal of the assessee is allowed

ITA 1828/DEL/2016[2004-05]Status: DisposedITAT Delhi08 Jan 2019AY 2004-05

Bench: Shri G. D. Agrawal & Ms Suchitra Kamblebansal Overseas Vs Acit 121 Km Stone, Near Namastesy Karnal Circle, Chowk, Aayakar Bhawan, Sector- G. T. Road 12, Urban Estate Karnal Aadfb3375L Karnal (Appellant) (Respondent)

Section 143Section 143(3)Section 154Section 263Section 80HSection 80I

…lied upon the decision in case of CIT(A) Vs. Reita Biscuits Ltd. 309 ITR 154 (P & H). In absence of any change in circumstances revenue is bound by earlier decision (193 ITR 321). The decision of court in case of assessee for one year is binding on department 367 ITR 568(Bombay). The Ld. AR further submitted that the in the case of assessee, revenue is following orders of ITAT in one year and not following the same on some alleged technical issue which is against judicial precedent, arbitrary, illegal and uncalled for as also contravenes the order of ITAT i.e. higher judicial authority. The Ld. AR submitted that…

TRENT LTD,MUMBAI vs. DCIT 2(3), MUMBAI

The appeal of the AO is dismissed

ITA 1162/MUM/2011[2005-06]Status: DisposedITAT Mumbai24 Aug 2016AY 2005-06

Bench: S/Shri Rajendra & C.N. Prasadआयकर आयकर अपील अपील संसंसंसं./Ita/1162/Mum/2011,िनधा"रण िनधा"रण वष" वष" /Assessment Years: 2005-06 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Trent Ltd., Dcit-Range-2(3) Bombay House, 2Nd Floor Aayakar Bhavan Vs. 24, Homi Mody Street, Fort Mumbai. Mumbai-400 001. Pan:Aaacl 1838 J आयकर आयकर आयकर अपील आयकर अपील अपील संसंसंसं./Ita/1725/Mum/2011,िनधा"रण अपील िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" /Assessment Years: 2005-06 वष" Dcit-Range-2(3) Trent Ltd. Aayakar Bhavan Mumbai. Vs. Mumbai. (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By:Shri Sathya Moorthy-Dr Assessee By: Shri Nitesh Joshi सुनवाई क" तारीख / Date Of Hearing: 14.07.2016 घोषणा क" तारीख / Date Of Pronouncement:24.08.2016 आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश आयकर आयकर आयकर अिधिनयम अिधिनयम क" क" धारा धारा अ"तग"त अ"तग"त आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा लेखा सद"य लेखा लेखा सद"य सद"य राजे"" सद"य राजे"" राजे"" केकेकेके अनुसार राजे"" अनुसार अनुसार Per Rajendra, Am- अनुसार Challenging The Order Dated 06/12/2010 Of The Cit (A)-6,Mumbai The Assessing Officer(Ao) & The Assessee Have Filed The Cross-Appeals For The Year Under Consideration.Assessee-Company, Engaged In The Business Of Retailing For Ready- Made Garments Etc.Filed Its Original Return Of Income On 27.10.2005,Declaring Total Income At Rs. 12.75 Crores.The Ao Completed The Assessment U/S.143(3)Of The Act, On 05.10.2007,Determining Its Income At Rs. Nil,After Setting Off Loss Of The Earlier Years.

For Appellant: Shri Nitesh JoshiFor Respondent: Shri Sathya Moorthy-DR
Section 143Section 143(3)Section 147Section 148Section 23Section 24Section 254(1)

…n the absence of any such circumstances, namely, any material leading to a different conclusion or change in the legal position, the consistency on the part of the Revenue should be adhered to.” We would also like to refer to the case of Jyoti Prakash Dutta (367 ITR 568) of the Hon’ble Bombay High Court.Facts of the case were that the Tribunal had disallowed the claim in the case of the assessee in prior years saying that a film production unit or a company was not an industrial undertaking within the meaning of section 80-IB of the Act,but the disallowance was set aside by the High Court.The Department,in spite…