Ranbaxy Laboratories Ltd. v. CIT

M/S. Lotus Buildtech Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeals of the assessee

Bench: Shri Chandra Mohan Garg & Shri L.P. Sahu

…case of CIT Vs. Ankitech pvt. Ltd [2011] 11 Taxmann Com. 100 [Del], Anil Kumar Bhatia [supra], Madugula Venu Vs. DIT [2013] 29 Taxmann 200 [Del], Chetan Das Lachman Das ITA No. 2021/2010, Filatex India Ltd [supra], Ranbaxy Laboratories Ltd. Vs. CIT [2011] 12 Taxmann.com 74 [Del], Jai Steel (India) Vs. ACIT [2013] 36 Taxmann.com 523 [Raj and judgment of Hon’ble Bombay High Court dated 29.10.2010 in ITA No. 36/2009 CIT Vs. Murli Agro Products Ltd. [Bom] and judgment of Hon’ble Karnataka High Court in the case of M/s Canara Housing Development Company Vs. DCIT dated 25.7.2014 in ITA No.38/2014 have been cons…

M/S. Shanker Gas & Mfg. Co. Pvt. Ltd. (Amalgamated Company), New Delhi vs. ITO, New Delhi

In the result, the appeal of the assessee is allowed

Bench: Sh. I.C. Sudhir & Sh. O.P. Kantassessment Year: 2004-05 M/S. Shanker Gas & Mfg. Co. Pvt. Vs. Income Tax Officer, Ward No. Ltd., (Amalgamated Company) For 15(4), New Delhi. M/S. Roopin Capital Pvt. Ltd., (Amalgamating Company), 62, G- 11, Sector-15, Rohini, New Delhi Gir/Pan : Aaacr4397N (Appellant) (Respondent) Appellant By S/Sh. D. Ostwal & Rishbh Ostwal, Adv. Respondent By Smt. Anima Barnwal, Sr. Dr Date Of Hearing 17.03.2016 Date Of Pronouncement 25.04.2016 Order Per O.P. Kant, A.M.: This Appeal Of The Assessee Is Directed Against Order Dated 17Th May, 2013 Of Ld. Commissioner Of Income-Tax(Appeals)-Xviii, New Delhi, For Assessment Year 2004-05, Raising Following Grounds Of Appeal: 1. On The Facts & In The Circumstances Of The Case, The Cit (A)- Xviii, New Deihi Has Erred Both On Facts & ;N Law, In Upholding The Illegal Order Passed By The Respondent Without Jurisdiction, Violative Of Natural Justice, Without Application Of Fair & Objective Mind To Facts Of The Case & The Law Applicable & Hence Liable To Be Set Aside & Quashed & Declared Non-Est In Law. 2. On The Facts & In The Circumstances Of The Case, The Cit (A)- Xviii, New Delhi Has Erred Both On Facts & In Law, In Upholding The Illegal Action Of Re-Assessment & Assumption Of Jurisdiction Illegally By The Respondent That Too Without Issue/ Served Notice U/S 148 & Without Following The Statutory Requirements Of Section 147 To 153 Of The Income Tax Act, Therefore The Entire Proceedings Of Reassessment Is Void Ab Initio, Illegal & Unauthorized By Law.

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘G’: NEW DELHI BEFORE SH. I.C. SUDHIR, JUDICIAL MEMBER AND SH. O.P. KANT, ACCOUNTANT MEMBER Assessment Year: 2004-05 M/s. Shanker Gas & Mfg. Co. Pvt. Vs. Income Tax Officer, Ward No. Ltd., (Amalgamated company) For 15(4), New Delhi. M/s. Roopin Capital Pvt. Ltd., (Amalgamating Company), 62, G- 11, Sector-15, Rohini, New Delhi GIR/PAN : AAACR4397N (Appellant) (Respondent) Appellant by S/sh. D. Ostwal & Rishbh Ostwal, Adv. Respondent by Smt. Anima Barnwal, Sr. DR Date of hearing 17.03.2016 Date of pronouncement 25.04.2016 ORDER PER O.P. KANT, A.M.: This appeal of th…

Pr. Commissioner of Income Tax-Delhi -2 New Delhi vs. Bharti Infotel Ltd

The appeal is dismissed

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

…ition made on this ground subsequently in the assessment order was unsustainable in law. The CIT (A) ITA No. 90/2016 Page 2 of 2 has followed the judgment of this Court in Ranbaxy Laboratories Ltd. v. CIT (2011) 336 ITR 136 (Del). It is not in dispute that the said decision answers the question against the Revenue. However it is sought to be urged that the said decision in Ranbaxy Laboratories Ltd. (supra) has been differed very recently by the Karnataka High Court in N. Govindaraju v. Income Tax Officer [2015] 60 taxmann.com 333 (Kar) and, therefore, this Cour…

Salim Khan L/H of Late Amanullah Khan, Roorkee vs. ITO, Roorkee

In the result we quash the reassessment proceedings and allow the appeal of the

Bench: Shri J.Sudhakar Reddy & Shri Sudhanshu Srivastava

…ion has been made on issues on which reasons to believe are recorded, then addition is not permissible without recording of fresh reasons. The Ld. AR relied on the decision of the Hon’ble High Court of Delhi in the case of Ranbaxy Laboratories Ltd. vs. CIT 336 ITR 136 (Del) and of the Hon’ble Bombay High Court in the case of Commissioner of Income Tax vs. M/s. Jet Airways (I) Ltd. 331 ITR 236 (Bom). Placing reliance on these decisions he submitted that the reassessment proceedings were bad in law and hence liable to be quashed. 5. Ld. DR on the other hand supported the orders of the AO as well as the Ld. CI…

DCIT, New Delhi vs. M/S. Nandan Auto Tech Ltd, New Delhi

Bench: Shri I.C. Sudhir & Shri Laxmi Prasad Sahu

…munications India Pvt. Ltd. [2013] 354 ITR 549 (Del) (vi) CIT vsAdhunikNiryatIspat Co. 63 DTR 212 (Del) (vii) CIT vs Software Consultants 341 ITR 240 (Del) (viii) CIT vs Narayan Securities P Ltd (Del) ITA no. 40/2009 dt. 3-6- 2011 (ix) ACIT vsMaj Deepak Mehta 344 ITR 641 (Chatis) (x) CIT vsShri Ram Singh 306 ITR 343 (Raj) (xi) Double Dot Finance Ltd vs CIT (Bom) ITA no. 856/2011 (xii) CIT vs ICICI Bank Ltd 349 ITR 482 (Bom) 26. We have heard both the parties and perused the assessment order and the order passed by the learned CIT(A) and also gone through the paper book on record. The learned AR has raised a lega…

Oriental Insurance Company

The appeal is allowed

…of the Act on grounds other than those indicated as reasons for forming the belief that income had escaped assessment and for issuance of notice under Section 148 of the Act. He relied upon the decision of this Court in Ranbaxy Laboratories Ltd. v. CIT: 336 ITR 136 and CIT v. Software Consultants: 341 ITR 240 in support of his contentions. 6. Mr Syali further argued that the AO had no jurisdiction to reopen the assessment for taxing the profits and gains from sale of investments as the 2015:DHC:7655-DB ITA 174/2013 Page 10 of 26 issue with regard to taxability of that income had be…

Commissioner of Income Tax (Central)-III vs. Kabul Chawla

…ITA Nos. 707, 709 and 713 of 2014 Page 1 of 26 $~ * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on : August 13, 2015 Decision on: August 28, 2015 + ITA 707/2014 COMMISSIONER OF INCOME TAX (CENTRAL)-III ... Appellant Through: Ms. Suruchi Aggarwal, Senior Standing counsel with Ms. Lakshmi Gurung, Advocate. versus KABUL CHAWLA ..... Respondent Through: Mr. C.S. Aggarwal, Senior Advocate with Mr. Manish Sharma, Mr. Prakash Kumar and Mr. Pranay Raj Singh, Advocates. WITH +…

Commissioner of Income Tax (Central)-III vs. Kabul Chawla

…ITA Nos. 707, 709 and 713 of 2014 Page 1 of 26 $~ * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on : August 13, 2015 Decision on: August 28, 2015 + ITA 707/2014 COMMISSIONER OF INCOME TAX (CENTRAL)-III ... Appellant Through: Ms. Suruchi Aggarwal, Senior Standing counsel with Ms. Lakshmi Gurung, Advocate. versus KABUL CHAWLA ..... Respondent Through: Mr. C.S. Aggarwal, Senior Advocate with Mr. Manish Sharma, Mr. Prakash Kumar and Mr. Pranay Raj Singh, Advocates. WITH +…

Commissioner of Income Tax (Central)-III vs. Kabul Chawla

…ITA Nos. 707, 709 and 713 of 2014 Page 1 of 26 $~ * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on : August 13, 2015 Decision on: August 28, 2015 + ITA 707/2014 COMMISSIONER OF INCOME TAX (CENTRAL)-III ... Appellant Through: Ms. Suruchi Aggarwal, Senior Standing counsel with Ms. Lakshmi Gurung, Advocate. versus KABUL CHAWLA ..... Respondent Through: Mr. C.S. Aggarwal, Senior Advocate with Mr. Manish Sharma, Mr. Prakash Kumar and Mr. Pranay Raj Singh, Advocates. WITH +…

Commissioner of Income Tax-II vs. Living Media India Ltd

The Appeal is dismissed

…ITA No.168/2013 Page 1 of 10 THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 26.04.2013 + ITA 168/2013 COMMISSIONER OF INCOME TAX-II ..... Appellant versus LIVING MEDIA INDIA LTD ..... Respondent Advocates who appeared in this case: For the Appellant : Mr N.P. Sahni, Advocate For the Respondent : Mr Salil Aggarwal and Mr R.P. Mall, Advocates. CORAM:- HON’BLE MR JUSTICE BADAR DURREZ AHMED HON’BLE MR JUSTICE VIBHU BAKHRU JUDGMENT BADAR DURREZ AHMED, J (ORAL) 1. This appeal by the revenue under Section 260A of the Income Tax Act, 1961 is directed against the order passed by the Income Tax Appellate Tri…

Commissioner of Income-Tax-I

The appeal is dismissed

…red in favour of the revenue and against the respondent / assessee. The learned counsel for the appellant had placed reliance on the decision of this court in the case of Ranbaxy Laboratories Limited v. Commissioner of ITA No.578/12 Page 7 of 22 Income-tax: 336 ITR 136 (Delhi). He submitted that the said decision had been wrongly interpreted by the Tribunal. Referring to the said decision, the learned counsel for the appellant submitted that this court had observed that once the Assessing Officer had reason to believe that income chargeable to tax had escaped assessment and he proceeded to issue a notice under…

Pratibha Finvest P.Ltd

…ot be upheld because they do not form part of the “reasons to believe”, which in the first instance, impelled the Department to reopen the proceedings. In this regard, the assessee relies upon the decision of this Court in Ranbaxy Laboratories Ltd. v. CIT 336 ITR 136. In that case, the Court had held that once the assessing officer assumes jurisdiction to reopen proceedings under Section 148, he cannot, in the absence of any material with regard to the rationale for the reopening, independently make additions in respect of other income which escapes assessment. Learned counsel also relied upon the judgme…

CIT vs. Indian Vaccine Corporation Ltd

…tion 147 by a notice dated 15.02.2010 and orders were made on 29.10.2010 determining the total income of `31,69,000/-. The assessee?s appeal against the reassessment in view of the judgment of this Court in Ranbaxy Laboratories Ltd. vs. CIT (2011) 336 ITR 136 was allowed. The Revenue?s appeal was rejected by the Tribunal which form the opinion that no question of law arose. The Tribunal followed the view of this Court and the Bombay High Court in Jet Airways (331 ITR 236) that the expression ?and also? occurring in Section 147 imply that the ?income? which was the subject matter of the not…

The Commissioner of Income Tax II vs. Software Consultants

…of the Act it has been held that the respondent assessee had been able to show and establish the genuineness of and capacity to make the said investment. 10. Similar issue had arisen before this Court in Ranbaxy Laboratories Limited versus CIT, (2011) 336 ITR 136 (Delhi). In the said case, the Division Bench had also examined Explanation 3 to Section 147, which was inserted by Finance (No. 2) Act of 2009 with retrospective effect from 1st April, 1989. Reference was made to the decision of the Bombay High Court in CIT versus Jet Airways India Limited, (2011) 331 ITR 236 (Bom.) in which it has been h…