Satnam Overseas Ltd. v. Addl. CIT

329 ITR 237High Court2010#3370 most cited

What is Satnam Overseas Ltd. v. Addl. CIT authority for?

Reassessment proceedings cannot be initiated merely on the basis of a change of opinion by the Assessing Officer regarding existing facts. A new opinion formed by the AO based on the same set of facts does not constitute valid grounds for reassessment.

35

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2025.

Also referred to as

Satnam Overseas Ltd v Addl CIT · 329 ITR 237 · Section 147 · Section 148 · change of opinion · reassessment · fresh tangible material · existing facts

Sections most often in play

Section 133(6)Section 143(3)Section 147Section 148Section 14ASection 151Section 80ICSection 142(1)

Issues it is cited on

amp expendituresection 92batrue and full disclosuresanction under section 151transfer pricing orderfresh tangible materialsection 148(2)sanctioning authorityfirst proviso to section 147section 151(1)material facts necessary for assessmentspecified domestic transaction

Judgments citing Satnam Overseas Ltd. v. Addl. CIT

Sri.R. Pratap, Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 39/COCH/2016[2010-11]Status: DisposedITAT Cochin03 Feb 2020AY 2010-11

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…price could be arrived at. The sale price has fluctuation due to demand and supply and market conditions. It does not remain at constant level. This view is fortified by the judgment of the Delhi High Court in the case of Satnam Overseas Ltd. vs. Addl. CIT 329 ITR 237 (Del.), wherein held that where it cannot stand to reason that the price of sale of paddy / rise / pulses remained constant throughout the year so that on the basis of an average price of closing stock, the sale price for the entire year comprising of 12 months, 48 weeks and 365 days can be ascertained in that the same would have remained fixe…

Sri.R. Pratap, Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 38/COCH/2016[2010-11]Status: DisposedITAT Cochin03 Feb 2020AY 2010-11

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…price could be arrived at. The sale price has fluctuation due to demand and supply and market conditions. It does not remain at constant level. This view is fortified by the judgment of the Delhi High Court in the case of Satnam Overseas Ltd. vs. Addl. CIT 329 ITR 237 (Del.), wherein held that where it cannot stand to reason that the price of sale of paddy / rise / pulses remained constant throughout the year so that on the basis of an average price of closing stock, the sale price for the entire year comprising of 12 months, 48 weeks and 365 days can be ascertained in that the same would have remained fixe…

Sri.R. Pratap, Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 37/COCH/2016[2009-10]Status: DisposedITAT Cochin03 Feb 2020AY 2009-10

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…price could be arrived at. The sale price has fluctuation due to demand and supply and market conditions. It does not remain at constant level. This view is fortified by the judgment of the Delhi High Court in the case of Satnam Overseas Ltd. vs. Addl. CIT 329 ITR 237 (Del.), wherein held that where it cannot stand to reason that the price of sale of paddy / rise / pulses remained constant throughout the year so that on the basis of an average price of closing stock, the sale price for the entire year comprising of 12 months, 48 weeks and 365 days can be ascertained in that the same would have remained fixe…

ITO, New Delhi vs. M/S. Superior Films (P) Ltd., New Delhi

Appeal are dismissed; accordingly, Revenue’s appeal is

ITA 4938/DEL/2012[2004-05]Status: DisposedITAT Delhi31 Jul 2019AY 2004-05

Bench: Shri Bhavnesh Saini & Shri Anadee Nath Misshra

For Appellant: Shri Gurjit Batra and Shri S.M. Mathur, CAFor Respondent: Shri N.K. Bansal, Sr. Dr
Section 143(3)Section 147Section 148

…CIT, Cir.9(1) 7. 2009-10 9550033 9550033 u/s 143(1) DCIT, Cir.9(1) The assessee case supported by the following judgment is as under:- • M/s Kelvinator of India (Supreme court) [2010] 320ITR 0561 • Satnam ©verseas Limited and Aur. Vs ACIT (Delhi High Court) 329 ITR 237 • M/s Bhavesh Developers Vs Assessing Officer, CIT (Bombay High Court) [2010] 329 ITR 0249 • Aventis Pharma Ltd Vs ACIT (Bombay High Court) [2010J323 ITR 0570 • H K Buidcon Ltd Vs Income Tax Officer (Ahmedabad High Court) [2010J-TIOL- 254-HC-AHM-IT In the recent judgement in the case of CIT Vs Muujal Showa Ltd. in ITA No. 149/2011 & ITA 150/2011…

DCIT, New Delhi vs. M/S. Dsl Software Ltd., New Delhi

In the result, all the three appeals of the Revenue and cross objection of the assessee are dismissed

ITA 3723/DEL/2014[2005-06]Status: DisposedITAT Delhi30 Apr 2019AY 2005-06

Bench: : Shri Amit Shukla & Shri L.P. Sahu

Section 10BSection 143(3)Section 148Section 14ASection 80HSection 90

…of opinion was not justified. Reliance in this regard is also placed on the following decisions: • Usha International Limited: 348 ITR 485 (Del)(FB) • Manjusha Estate (P) Ltd vs ITO: 314 ITR 263 (Guj) - SLP dismissed by SC • Satnam Overseas Ltd & Anr vs ACIT: 329 ITR 237 (Del) • Jal Hotels Co Ltd vs ADIT: 184 Taxman 1 (Del) • CIT vs Feather Foam Ent (P) Ltd: 296 ITR 342 (Del) • CIT vs Eicher Ltd: 294 ITR 310 (Del) • KLM Royal Dutch Airlines vs ACIT: 292 ITR 49 (Del), SLP there against dismissed: CC 13507 of 2008 • CIT vs Goetze Ltd: 321 ITR 431 (Del) • Carlton Overseas (P) Ltd vs ITO: 318 ITR 295 (Del) • Jindal P…

DCIT, New Delhi vs. M/S. Dsl Software Ltd., New Delhi

In the result, all the three appeals of the Revenue and cross objection of the assessee are dismissed

ITA 3722/DEL/2014[2002-03]Status: DisposedITAT Delhi30 Apr 2019AY 2002-03

Bench: : Shri Amit Shukla & Shri L.P. Sahu

Section 10BSection 143(3)Section 148Section 14ASection 80HSection 90

…of opinion was not justified. Reliance in this regard is also placed on the following decisions: • Usha International Limited: 348 ITR 485 (Del)(FB) • Manjusha Estate (P) Ltd vs ITO: 314 ITR 263 (Guj) - SLP dismissed by SC • Satnam Overseas Ltd & Anr vs ACIT: 329 ITR 237 (Del) • Jal Hotels Co Ltd vs ADIT: 184 Taxman 1 (Del) • CIT vs Feather Foam Ent (P) Ltd: 296 ITR 342 (Del) • CIT vs Eicher Ltd: 294 ITR 310 (Del) • KLM Royal Dutch Airlines vs ACIT: 292 ITR 49 (Del), SLP there against dismissed: CC 13507 of 2008 • CIT vs Goetze Ltd: 321 ITR 431 (Del) • Carlton Overseas (P) Ltd vs ITO: 318 ITR 295 (Del) • Jindal P…

ACIT, New Delhi vs. M/S. Dsl Software Ltd., New Delhi

In the result, all the three appeals of the Revenue and cross objection of the assessee are dismissed

ITA 2310/DEL/2012[2003-04]Status: DisposedITAT Delhi30 Apr 2019AY 2003-04

Bench: : Shri Amit Shukla & Shri L.P. Sahu

Section 10BSection 143(3)Section 148Section 14ASection 80HSection 90

…of opinion was not justified. Reliance in this regard is also placed on the following decisions: • Usha International Limited: 348 ITR 485 (Del)(FB) • Manjusha Estate (P) Ltd vs ITO: 314 ITR 263 (Guj) - SLP dismissed by SC • Satnam Overseas Ltd & Anr vs ACIT: 329 ITR 237 (Del) • Jal Hotels Co Ltd vs ADIT: 184 Taxman 1 (Del) • CIT vs Feather Foam Ent (P) Ltd: 296 ITR 342 (Del) • CIT vs Eicher Ltd: 294 ITR 310 (Del) • KLM Royal Dutch Airlines vs ACIT: 292 ITR 49 (Del), SLP there against dismissed: CC 13507 of 2008 • CIT vs Goetze Ltd: 321 ITR 431 (Del) • Carlton Overseas (P) Ltd vs ITO: 318 ITR 295 (Del) • Jindal P…

Sunil Vishram Chawda, Hyd, Hyderabad vs. DCIT, Circle-14(1), Hyd, Hyderabad

In the result, all the appeals under consideration are allowed

ITA 1433/HYD/2015[2012-13]Status: DisposedITAT Hyderabad25 May 2018AY 2012-13

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri K.A. SaiprasadFor Respondent: Shri B. Suresh Babu
Section 194H

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH “A”, HYDERABAD BEFORE SMT P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA Nos. 1430, 1431, 1432 & 1433/Hyd/2015 Assessment Years: 2009-10, 2010-11, 2011-12 and 2012-13 Sunil Vishram, Hyderabad. vs. Asst. Commissioner of Income-tax, Circle – 10(1), PAN – AAMPM 3617 P Hyderabad. (Assessee) (Respondent) Assessee by : Shri K.A. Saiprasad Revenue by : Shri B. Suresh Babu Date of hearing 26/04/2018 Date of pronouncement 25/05/2018 O R D E R PER S. RIFAUR RAHMAN, A.M.: These four appeals filed by the assessee are directed ag…

Sunil Vishram Chawda, Hyd, Hyderabad vs. CIT (OSD), Range-10, Hyd, Hyderabad

In the result, all the appeals under consideration are allowed

ITA 1432/HYD/2015[2011-12]Status: DisposedITAT Hyderabad25 May 2018AY 2011-12

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri K.A. SaiprasadFor Respondent: Shri B. Suresh Babu
Section 194H

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH “A”, HYDERABAD BEFORE SMT P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA Nos. 1430, 1431, 1432 & 1433/Hyd/2015 Assessment Years: 2009-10, 2010-11, 2011-12 and 2012-13 Sunil Vishram, Hyderabad. vs. Asst. Commissioner of Income-tax, Circle – 10(1), PAN – AAMPM 3617 P Hyderabad. (Assessee) (Respondent) Assessee by : Shri K.A. Saiprasad Revenue by : Shri B. Suresh Babu Date of hearing 26/04/2018 Date of pronouncement 25/05/2018 O R D E R PER S. RIFAUR RAHMAN, A.M.: These four appeals filed by the assessee are directed ag…

Sunil Vishram Chawda, Hyd, Hyderabad vs. ACIT, Circle-10(1), Hyd, Hyderabad

In the result, all the appeals under consideration are allowed

ITA 1431/HYD/2015[2010-11]Status: DisposedITAT Hyderabad25 May 2018AY 2010-11

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri K.A. SaiprasadFor Respondent: Shri B. Suresh Babu
Section 194H

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH “A”, HYDERABAD BEFORE SMT P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA Nos. 1430, 1431, 1432 & 1433/Hyd/2015 Assessment Years: 2009-10, 2010-11, 2011-12 and 2012-13 Sunil Vishram, Hyderabad. vs. Asst. Commissioner of Income-tax, Circle – 10(1), PAN – AAMPM 3617 P Hyderabad. (Assessee) (Respondent) Assessee by : Shri K.A. Saiprasad Revenue by : Shri B. Suresh Babu Date of hearing 26/04/2018 Date of pronouncement 25/05/2018 O R D E R PER S. RIFAUR RAHMAN, A.M.: These four appeals filed by the assessee are directed ag…

Sunil Vishram Chawda, Hyd, Hyderabad vs. ACIT, Circle-10(1), Hyd, Hyderabad

In the result, all the appeals under consideration are allowed

ITA 1430/HYD/2015[2009-10]Status: DisposedITAT Hyderabad25 May 2018AY 2009-10

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri K.A. SaiprasadFor Respondent: Shri B. Suresh Babu
Section 194H

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH “A”, HYDERABAD BEFORE SMT P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA Nos. 1430, 1431, 1432 & 1433/Hyd/2015 Assessment Years: 2009-10, 2010-11, 2011-12 and 2012-13 Sunil Vishram, Hyderabad. vs. Asst. Commissioner of Income-tax, Circle – 10(1), PAN – AAMPM 3617 P Hyderabad. (Assessee) (Respondent) Assessee by : Shri K.A. Saiprasad Revenue by : Shri B. Suresh Babu Date of hearing 26/04/2018 Date of pronouncement 25/05/2018 O R D E R PER S. RIFAUR RAHMAN, A.M.: These four appeals filed by the assessee are directed ag…

Export Import Bank of India, Mumbai vs. DCIT (OSD) Cir 3(1), Mumbai

In the result, the appeal is allowed

ITA 6847/MUM/2012[2003-04]Status: DisposedITAT Mumbai09 Feb 2018AY 2003-04

Bench: Shri D.T. Garasia () & Shri N.K. Pradhan () Assessment Year: 2003-04 Export Import Bank Of Acit-3(1), India, Centre One Vs. Aayakar Bhavan, M.K. Building, Floor 21, World, Road Trade Centre Complex, Mumbai-400020 Cuffe Parade, Mumbai-400005 Pan No. Aaace2769D Appellant Respondent Assessee By : Mr. Dinesh Vyas, Sr. Advocate Revenue By : Mrs. Vidisha Kalra, Cit-Dr Date Of Hearing : 16/11/2017 Date Of Pronouncement : 09/02/2018

For Appellant: Mr. Dinesh Vyas, Sr. AdvocateFor Respondent: Mrs. Vidisha Kalra, CIT-DR
Section 142(1)Section 143(3)Section 147Section 148Section 36(1)(viia)Section 36(1)(viii)

…on, was held to be a re-opening merely on change of opinion and not valid. We refer here to the decision in Balkrishna Hiralal Wani v. ITO 321 ITR 519; Asian Paints Ltd. v. DCIT 308 ITR 195; D.T. & T.D.C. Ltd. v. ACIT 324 ITR 234; Satnam Overseas Ltd. v. ACIT 329 ITR 237. To sum up, even under the amended law, in all cases, there must exist reason to believe that income has escaped assessment and a mere change of opinion on the same facts and law does not justify a reassessment. For a reassessment proceeding initiated after four years, it must further be established that the escapement was by reason of failure of…

Claas India Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, assessee’s appeal is allowed

ITA 4644/DEL/2009[2001-02]Status: DisposedITAT Delhi20 Sept 2016AY 2001-02

Bench: Shri S.V. Mehrotra : & Ms. Suchitra Kamble :U/S 2001-02

For Appellant: Shri Alkesh Babbar CAFor Respondent: Shri Anil Kumar Saroha Sr. DR
Section 143(3)Section 147Section 148Section 200Section 80Section 80HSection 80I

…mere change of opinion cannot form the basis for issuing of a notice under Section 147/148 of the Act and the Court quashed the notice issued u/s 148 on the ground that it constituted change of opinion. Date of Decision: August 9, 2009 ii. . SATNAM OVERSEAS [329 ITR 237] - the court held that new opinion formed by the AO based on the existing facts was nothing but a change of opinion and was not a valid ground for reassessment. This case is also similar to the case of the Appellant. Date of Decision: December 11, 2009 iii. RAJKUMAR MAHAJAN [340 ITR 570] - The asssessee claimed deduction under sections 80HHC and…

M/S New Delhi Television Ltd., New Delhi vs. ACIT, New Delhi

In the result, both the appeals of the assessee are allowed

ITA 1023/DEL/2013[2003-04]Status: DisposedITAT Delhi30 Sept 2015AY 2003-04

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

For Appellant: Shri Tarandeep Singh, C.AFor Respondent: Shri R.L. Meena, CIT/DR
Section 143(3)Section 147Section 148Section 263Section 80H

…dings u/s 143(3) of the Act, the subsequent AO has merely tried to conduct a fishing expedition. In this regard, Ld. AR relied upon decisions of Delhi High Court in the case of Northern Strips Ltd. reported in 331 ITR 224 (Del) and Satnam Overseas reported in 329 ITR 237 (Del). As regards factum of export being made, the Ld. AR submitted that the notice u/s 148 was issued by the AO on 31stMarch, 2010 and as on that date ITAT in appellant’s own case for A.Ys. 1999-2000 and 2002-03 vide orders dated 26th July, 2004 and 31st 14 ITA No.5126/Del./11 & 1023/Del./2013 March, 2008 respectively (copies placed in paper b…

New Delhi Television Ltd., New Delhi vs. CIT, New Delhi

In the result, both the appeals of the assessee are allowed

ITA 5126/DEL/2011[2003-04]Status: DisposedITAT Delhi30 Sept 2015AY 2003-04

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

For Appellant: Shri Tarandeep Singh, C.AFor Respondent: Shri R.L. Meena, CIT/DR
Section 143(3)Section 147Section 148Section 263Section 80H

…dings u/s 143(3) of the Act, the subsequent AO has merely tried to conduct a fishing expedition. In this regard, Ld. AR relied upon decisions of Delhi High Court in the case of Northern Strips Ltd. reported in 331 ITR 224 (Del) and Satnam Overseas reported in 329 ITR 237 (Del). As regards factum of export being made, the Ld. AR submitted that the notice u/s 148 was issued by the AO on 31stMarch, 2010 and as on that date ITAT in appellant’s own case for A.Ys. 1999-2000 and 2002-03 vide orders dated 26th July, 2004 and 31st 14 ITA No.5126/Del./11 & 1023/Del./2013 March, 2008 respectively (copies placed in paper b…