Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd.

350 ITR 120High Court2013#4754 most cited
25

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

Sections most often in play

Section 10(38)Section 143(3)Section 147Section 148Section 68Section 69C

Issues it is cited on

change of opiniontangible materialreason to believereopening of assessmentsection 142(1)section 147section 148section 14section 143(3)total incomepersoncompany

Judgments citing Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd.

DHARMIL ANIL BODANI,MUMBAI vs. ACIT, CIRCLE-19(1), MUMBAI

In the result, appeal of the assessee is allowed on legal grounds

ITA 648/MUM/2024[2012-13]Status: DisposedITAT Mumbai25 Mar 2025AY 2012-13

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 143(1)Section 143(3)Section 147Section 148Section 68Section 69C

…dgment of Hon’ble Jurisdictional High Court in the case of Hindustan Lever Ltd., vs. DCIT reported in 137 Taxman 479; Prashant Joshi vs. ITO reported in 324 ITR 154; and Indivest Pte Ltd. vs. Addl. 6 Dharmil Anil Bodani Commissioner of Income Tax reported in 350 ITR 120. Thus, it was categorically objected that there is a factual error and there is no application of mind and therefore, entire notice is bad in law. Despite this specific objection, the AO did not dispose of the assessee’s objection and neither it is discernable from the assessment order that AO has dispose of the objection filed by the assessee. T…

SHRI AMIN BADRUDDIN KESHWANI,MUMBAI vs. NATIONAL FACELESS APPEAL CENTRE, NEW DELHI, MUMBAI

ITA 1125/MUM/2022[2008-09]Status: DisposedITAT Mumbai31 Oct 2022AY 2008-09

Bench: Shri Kuldip Singhassessment Year: 2008-09

For Appellant: Shri P. Daniel, A.RFor Respondent: Shri Anil Gupta, D.R
Section 142(1)Section 145Section 147Section 234BSection 234D

…material in any case and; that the AO proceeded to make reassessment merely on the basis of letter issued by the electricity department and relied upon the decision rendered by Hon’ble Bombay High Court in case of Indivest Pte Ltd. vs. Addl. DIT & ors. (2013) 350 ITR 120 (Bom), decision rendered by Hon’ble Delhi High Court in case of CIT vs. Orient Craft Ltd. (2013) 354 ITR 536 (Delhi) and the decision rendered by the co-ordinate Bench of the Tribunal in case of Power Pack Conductors vs. ITO in ITA Nos.7900 & 7901/Mum/2010 for A.Y. 2000-01 & 2001-02 order dated 3.03.20211. 11. Hon’ble Delhi High Court decided the…

DCIT, BANGALORE vs. SHRI. SUMIR J HINDUJA, BANGALORE

In the result, appeals filed by the revenue and COs filed by the assessee are dismissed

ITA 1374/BANG/2012[2006-07]Status: DisposedITAT Bangalore22 Jul 2022AY 2006-07

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2006-07 Shri Jagadish N. Hinduja Deputy Commissioner Of Income- No.7 & 12, Industrial Suburb Tax Tumkur Road Vs. Circle 11(3) Yeshwanthpur Bangalore Bangalore 560 022 Pan No.Aacph7291Q Appellant Respondent Assessment Year: 2006-07 Shri Sumir J. Hinduja Deputy Commissioner Of Income- No.7 & 12, Industrial Suburb Tax Tumkur Road Vs. Circle 11(3) Yeshwanthpur Bangalore Bangalore 560 022 Pan No.Aaeph5197H Appellant Respondent C.O. No.48/Bang/2013 (Arising Out Of Ita No.1373/Bang/2012) Assessment Year: 2006-07 Shri Jagadish N. Hinduja Vs. Dcit, Circl-11(3),Bangalore Appellant Respondent C.O. No.49/Bang/2013 (Arising Out Of Ita No.1374/Bang/2012) Assessment Year: 2006-07 Shri Sumir J. Hinduja Vs. Dcit, Circl-11(3),Bangalore Appellant Respondent Appellant By : Shri Susan Dolores George, D.R. Respondent By : Shri Ashok A Kulkarni, A.R.

For Appellant: Shri Susan Dolores George, D.RFor Respondent: Shri Ashok A Kulkarni, A.R
Section 147Section 148Section 2(22)(e)

…d to the Assessee, including the reason and commercial rationale behind such transaction. The above contention of the appellant finds support from the decision of the Bombay High Court in Indivest Pte Ltd. Vs Addl. Director of Income Tax and another report in 350 ITR 120. The ratio of the decision is to be found at Page 130 of ITR Volume 350, as under: ITA Nos.1373 & 1374/Bang/2012 & CO. Nos.48 & 49/Bang/2013 Shri Jagadish N. Hinduja, Bangalore Page 15 of 78 "The validity of the notice reopening the assessment under section 148 has to be determined on the basis of the reasons which are disclosed to the assessee…

DCIT, BANGALORE vs. SHRI. JAGADISH N HINDUJA, BANGALORE

In the result, appeals filed by the revenue and COs filed by the assessee are dismissed

ITA 1373/BANG/2012[2006-07]Status: DisposedITAT Bangalore22 Jul 2022AY 2006-07

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2006-07 Shri Jagadish N. Hinduja Deputy Commissioner Of Income- No.7 & 12, Industrial Suburb Tax Tumkur Road Vs. Circle 11(3) Yeshwanthpur Bangalore Bangalore 560 022 Pan No.Aacph7291Q Appellant Respondent Assessment Year: 2006-07 Shri Sumir J. Hinduja Deputy Commissioner Of Income- No.7 & 12, Industrial Suburb Tax Tumkur Road Vs. Circle 11(3) Yeshwanthpur Bangalore Bangalore 560 022 Pan No.Aaeph5197H Appellant Respondent C.O. No.48/Bang/2013 (Arising Out Of Ita No.1373/Bang/2012) Assessment Year: 2006-07 Shri Jagadish N. Hinduja Vs. Dcit, Circl-11(3),Bangalore Appellant Respondent C.O. No.49/Bang/2013 (Arising Out Of Ita No.1374/Bang/2012) Assessment Year: 2006-07 Shri Sumir J. Hinduja Vs. Dcit, Circl-11(3),Bangalore Appellant Respondent Appellant By : Shri Susan Dolores George, D.R. Respondent By : Shri Ashok A Kulkarni, A.R.

For Appellant: Shri Susan Dolores George, D.RFor Respondent: Shri Ashok A Kulkarni, A.R
Section 147Section 148Section 2(22)(e)

…d to the Assessee, including the reason and commercial rationale behind such transaction. The above contention of the appellant finds support from the decision of the Bombay High Court in Indivest Pte Ltd. Vs Addl. Director of Income Tax and another report in 350 ITR 120. The ratio of the decision is to be found at Page 130 of ITR Volume 350, as under: ITA Nos.1373 & 1374/Bang/2012 & CO. Nos.48 & 49/Bang/2013 Shri Jagadish N. Hinduja, Bangalore Page 15 of 78 "The validity of the notice reopening the assessment under section 148 has to be determined on the basis of the reasons which are disclosed to the assessee…

POONA CLUB LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 892/PUN/2017[2008-09]Status: DisposedITAT Pune20 Apr 2022AY 2008-09

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supreme Court in the case of Bangalore Club (supra), which is subsequent to the completion of the assessment u/s 14…

POONA CLUB LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 891/PUN/2017[2007-08]Status: DisposedITAT Pune20 Apr 2022AY 2007-08

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supreme Court in the case of Bangalore Club (supra), which is subsequent to the completion of the assessment u/s 14…

POONA CLUB LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 890/PUN/2017[2006-07]Status: DisposedITAT Pune20 Apr 2022AY 2006-07

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supreme Court in the case of Bangalore Club (supra), which is subsequent to the completion of the assessment u/s 14…

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 4,, PUNE vs. M/S. POONA CLUB LTD,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 1939/PUN/2017[2013-14]Status: DisposedITAT Pune20 Apr 2022AY 2013-14

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supreme Court in the case of Bangalore Club (supra), which is subsequent to the completion of the assessment u/s 14…

ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE vs. M/S. POONA CLUB LTD.,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 1238/PUN/2017[2012-13]Status: DisposedITAT Pune20 Apr 2022AY 2012-13

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supreme Court in the case of Bangalore Club (supra), which is subsequent to the completion of the assessment u/s 14…

ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE vs. M/S. POONA CLUB LTD.,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 1237/PUN/2017[2011-12]Status: DisposedITAT Pune20 Apr 2022AY 2011-12

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supreme Court in the case of Bangalore Club (supra), which is subsequent to the completion of the assessment u/s 14…

ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE vs. M/S. POONA CLUB LTD.,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 1235/PUN/2017[2008-09]Status: DisposedITAT Pune20 Apr 2022AY 2008-09

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supreme Court in the case of Bangalore Club (supra), which is subsequent to the completion of the assessment u/s 14…

POONA CLUB LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 895/PUN/2017[2012-13]Status: DisposedITAT Pune20 Apr 2022AY 2012-13

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supreme Court in the case of Bangalore Club (supra), which is subsequent to the completion of the assessment u/s 14…

POONA CLUB LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 894/PUN/2017[2011-12]Status: DisposedITAT Pune20 Apr 2022AY 2011-12

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supreme Court in the case of Bangalore Club (supra), which is subsequent to the completion of the assessment u/s 14…

POONA CLUB LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 893/PUN/2017[2009-10]Status: DisposedITAT Pune20 Apr 2022AY 2009-10

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supreme Court in the case of Bangalore Club (supra), which is subsequent to the completion of the assessment u/s 14…

POONA CLUB LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 4,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 2242/PUN/2017[2014-15]Status: DisposedITAT Pune20 Apr 2022AY 2014-15

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supreme Court in the case of Bangalore Club (supra), which is subsequent to the completion of the assessment u/s 14…

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 4,, PUNE vs. M/S. POONA CLUB LTD,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 2221/PUN/2017[2014-15]Status: DisposedITAT Pune20 Apr 2022AY 2014-15

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supreme Court in the case of Bangalore Club (supra), which is subsequent to the completion of the assessment u/s 14…

POONA CLUB LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 4, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 1653/PUN/2017[2013-14]Status: DisposedITAT Pune20 Apr 2022AY 2013-14

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supreme Court in the case of Bangalore Club (supra), which is subsequent to the completion of the assessment u/s 14…

ASSISTANT COMMISSIONER OF INCOME TAX,, PUNE vs. M/S. POONA CLUB LTD.,, PUNE

In the result, the appeal filed by the Revenue in ITA

ITA 1236/PUN/2017[2009-10]Status: DisposedITAT Pune20 Apr 2022AY 2009-10

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…ble Gujarat High Court reiterated the above position after referring to the following decisions :- (i) Ratna Trayi Reality Service (P.) Ltd. v. ITO, 356 ITR 493 (Guj.). (ii) CIT v. Orient Craft Ltd., 354 ITR 536 (Delhi). (iii) Indivest Pte. Ltd. v. Addl. DIT, 350 ITR 120 (Bom.). 12. In the present case, from the reasons recorded it would be clear that the premises on which the Assessing Officer formed an 15 Poona Club Ltd. opinion that the income had escaped assessment is the decision of the Hon’ble Supreme Court in the case of Bangalore Club (supra), which is subsequent to the completion of the assessment u/s 14…

SHRI. SUMIR J. HINDUJA vs. THE DEPUTY COMMISSIONER OF INCOME TAX

In the result, appeal is disposed of

ITA/7/2017HC Karnataka02 Aug 2021

Bench: ALOK ARADHE,HEMANT CHANDANGOUDAR

Section 147Section 148(2)Section 2(22)(e)Section 260

…ompany. It is also urged that the Tribunal has over looked clause 5 and 6 of the agreement and the material available on record. In support of aforesaid submission, reliance has been placed on the decisions in 'INDIVEST PTE LTD. Vs. ADDL. DIT & OTHERS' 350 ITR 120 (BOM) 129, 130, 'CIT Vs. KELVINATOR OF INDIA LTD.' 320 ITR 561 (SC) 564 AND 'BAGMANE CONSTRUCTION (P) LTD. Vs. CIT' 277 CTR 338 (KAR) and Circular No.19 of 2017 dated 8 12.06.2017 issued by Central Board of Direct Taxes (CBDT). 4. On the other hand, learned counsel for the revenue submitted that Assessing Officer has rightly formed the b…

M/S. SHREE BALKISHAN AGARWAL GLASS INDUSTRIES LTD.,DELHI vs. DCIT, NEW DELHI

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

ITA 5798/DEL/2016[2005-06]Status: DisposedITAT Delhi18 Sept 2020AY 2005-06

Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2005-06 Shree Balkishan Agarwal Glass Vs Dcit, Industries Ltd., Circle-8(1), C/O Sarvam & Associates, New Delhi. 403, Klj Tower North, B-5, Netaji Subhash Place, District Centre, Pitampura, Delhi. Pan: Aabcs2870C (Appellant) (Respondent) Assessee By : Shri Suresh Gupta, Ca Revenue By : Shri Saras Kumar, Sr. Dr Date Of Hearing : 26.08.2020 Date Of Pronouncement : 21.09.2020 Order Per R.K. Panda, Am:

For Appellant: Shri Suresh Gupta, CAFor Respondent: Shri Saras Kumar, Sr. DR
Section 139Section 142(1)Section 143(1)Section 147Section 148

…The AO has tried to improve the reason by relying on various evidences during assessment proceedings without dealing the same in the reasons recorded. 11. Referring to the decision of the Hon’ble Bombay High Court in the case of Indivest Pte Ltd. vs. ADDIT, 350 ITR 120, he submitted that the Hon’ble Bombay High Court has held the reassessment proceedings as bad in law wherein the AO has tried to improve the reason by relying on various evidences during assessment proceedings which were not mentioned in the reasons recorded. It was held that improvement of the reasons based on the material not referred to in the…

Showing 1–20 of 25 · Page 1 of 2