Ranbaxy Laboratories Ltd. v. CIT

ITO, New Delhi vs. M/S. Sunlight Tour and Travels Pvt. Ltd., Sahibabad

In the result, the appeal filed by the Revenue in ITA No

Bench: Shri N.K. Billaiya & Shri Sudhanshu Srivastava[A.Y 2007-08]

…rder dated 26.03.2015 framed u/s 147 r.w.s 143(3) of the Act. Since we have quashed the assessment order, we do not find it necessary to dwell into the merits of the case. 19. The Hon'ble Jurisdictional High Court of Delhi in the case of Ranbaxy Laboratories 336 ITR 136 had occasion to consider an identical issue wherein it has been held as under: “The crux of section 147 is the escapement of income which may be assessed or reassessed as well as any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of proceedings under this section. Explanation…

Alok Gupta, New Delhi vs. DCIT, Circle-1(3)(1) (Internaqtional Taxation), New Delhi

In the result, both the appeals filed by the assessees are allowed and the Stay applications filed by the assessee are dismissed

Bench: Shri R.K. Panda & Ms Suchitra Kamble

…nr. Vs. DDIT (IT), TS 281 HC 2017; ii) Decision of the Hon’ble Karnataka High Court in the case of Prahlad Vijendra Rao; iii) CIT vs. AP Kalyanakrishnan, 195 ITR 534 (Madras). iv) CIT vs. Jet Airways, 331 ITR 236 (Bombay) v) Ranbaxy Laboratories Ltd. vs. CIT, 336 ITR 136 13. The ld. DR, on the other hand, heavily relied on the order of the AO and the CIT(A). So far as the argument of the ld. Counsel regarding two sets of reasons are concerned, the ld. DR filed a clarification dated 20/23 October, 2020 from the AO regarding the two different versions. He submitted that this is only a typographical error and, ther…

Addl. CIT, Special Range- 4, New Delhi vs. Garg Acrylics Ltd., New Delhi

In the result, the appeal filed by the ld

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi(Through Video Conferencing)

…issue of notice u/s 148 of Income Tax Act, 1961 for escapement of income of Rs.9,54,73,521/- on 31.03.2016 as is evident from the order sheet of assessment records. 3. Reliance is placed on the decision in the case of Ranbaxy Laboratories Ltd. Vs. CIT(2011), 60 DTR 77(Delhi High Court) wherein Hon’ble Delhi High Court has held that “Assessing officer has the jurisdiction to re-assess other than the issues in respect of which proceedings are initiated but he was not so justified when the reasons for the initiation of those proceedings ceased to survive. 4. Reliance is also placed on the decision in the case of CI…

M/S. National Fertilizers Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is allowed and that of the Revenue is partly allowed for statistical purposes

Bench: Shri O.P. Kant & Shri K. Narasimha Charyassessment Year: 2012-13

…rder dated 28.07.2017 passed by a coordinate Bench of this Tribunal. He drew our attention to paragraph No. 7 of the Tribunal order, wherein while following the decision of the Hon’ble jurisdictional High Court in the case of CIT vs. Ranbaxy Laboratories Ltd. 334 ITR 341 (Del), the Coordinate Bench of this Tribunal allowed relief to the assessee. Having gone through the order dated 28.07.2017 in ITA No. 5122/Del/2014 in assessee’s own case for the assessment year 2010-11, we are satisfied that the ground of appeal of the assessee is squarely covered by the findings of the Co-ordinate Bench of Tribunal and since t…

Ashish Bhardwaj, Ghaziabad vs. ITO Ward-36(4), New Delhi

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

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : SMC-1 : NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER Assessment Year: 2011-12 Ashish Bhardwaj, Vs ITO, Ch. No.206-207, Ansal Satyam, Ward-36(4), RDC Rajnagar, New Delhi. Ghaziabad. PAN: AMWPB4194J (Appellant) (Respondent) Assessee by : Shri Akhilesh Kumar, CA Revenue by : Ms Rano Mukherjee, Sr. DR Date of Hearing : 17.03.2021 Date of Pronouncement : 14.06.2021 ORDER This appeal filed by the assessee is directed against the order dated 27th September, 2019 of the CIT(A)-2, New Delhi, relating to assessment year 2011-12. 2. Facts of the case, in brief, are…

Balbir Investment Pvt Ltd, New Delhi vs. ITO Ward 4(2), New Delhi

In the result, appeal of the assessee is allowed

Bench: Shri R.K. Panda & Ms. Suchitra Kambleassessment Year : 2009-10

…based on non-existing facts. He, accordingly, submitted that the reassessment proceedings initiated by the Assessing Officer should be quashed. 6.1. Referring to the decision of Hon’ble Delhi High Court in the case of Ranbaxy Laboratories Ltd., reported in 336 ITR 136 (Del.), he submitted that the Hon’ble Delhi High Court in the said decision has held that under Explnation-3, if during the course of reassessment proceedings the Assessing Officer comes to conclusion that some items have escaped assessment, then notwithstanding that those items were not included in the reasons to believe as recorded for init…

Dua Health Care Pvt. Ltd., New Delhi vs. DCIT, Circle- 11(1), New Delhi

In the result, the appeal filed by the assessee in ITA No

Bench: Shri Bhavnesh Saini & Shri N.K. Billaiya[Assessment Year: 2012-13]

…er had alleged in the reasons recorded to have escaped assessment and the Assessing Officer went on to independently assess some other income. 9. This issue is no more res integra in view of the settled position of law in the case of Ranbaxy Laboratories Ltd 336 ITR 136 wherein the Hon'ble High Court of Delhi has held that if after issuing a notice under Section 148 of the Act, the Assessing Officer accepts the contention of the assessee and holds that the income which he has initially formed a reason to believe had escaped assessment, has as a matter of fact not escaped assessment, it is not open to him indep…