Shree Tharad Jain Yuvak Mandal v. ITO

242 ITR 612High Court2000#2559 most cited

What is Shree Tharad Jain Yuvak Mandal v. ITO authority for?

A reassessment notice issued under Section 148 is illegal if it is issued more than four years after the end of the relevant assessment year, provided the original assessment was completed under Section 143(3) and the assessee had made a full and true disclosure of all material facts. This principle applies in the interpretation of the proviso to the 'new' Section 147.

45

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2025.

Also referred to as

Shree Tharad Jain Yuvak Mandal v. ITO · Section 147 · Section 148 · Section 143(3) · reassessment notice limitation · four-year time limit · full and true disclosure · beyond four years · proviso to Section 147 · original assessment · notice illegal

Sections most often in play

Section 131Section 132Section 133(6)Section 139Section 142(1)Section 143(3)Section 147Section 148

Issues it is cited on

section 31(3)section 139(3)section 147(b)beyond four yearsfull and true disclosuresection 31indexed cost of acquisitionappeal before cit(a)section 139(5)kelvinatorsection 36(1)(vii)section 251(1)

Judgments citing Shree Tharad Jain Yuvak Mandal v. ITO

Sundaram Fasteners Limited, Chennai vs. DCIT, Chennai

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

ITA 74/CHNY/2018[2007-08]Status: DisposedITAT Chennai16 Jun 2023AY 2007-08

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri Vikram VijayaraghavanFor Respondent: Shri G. Johnson, Addl.CIT
Section 143(2)Section 143(3)Section 147Section 148Section 195Section 40Section 43Section 43B

…n view of the proviso to Section 147, the notice under section 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO [2000] 242 ITR 612. 18. In our opinion, we have to see the law prevailing on the date of issue of the notice under Section 148, i.e., November 20, 1998. Admittedly, by that date, the new Section 147 has come into force and, hence, in our opinion, it is the new Section 147 which will apply to the facts of the present case. In the present case, there was admittedly n…

DCIT, Corporate Circle 6(2), Chennai vs. Sundaram Fasteners Ltd, Chennai

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

ITA 317/CHNY/2018[2007-08]Status: DisposedITAT Chennai16 Jun 2023AY 2007-08

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri Vikram VijayaraghavanFor Respondent: Shri G. Johnson, Addl.CIT
Section 143(2)Section 143(3)Section 147Section 148Section 195Section 40Section 43Section 43B

…n view of the proviso to Section 147, the notice under section 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO [2000] 242 ITR 612. 18. In our opinion, we have to see the law prevailing on the date of issue of the notice under Section 148, i.e., November 20, 1998. Admittedly, by that date, the new Section 147 has come into force and, hence, in our opinion, it is the new Section 147 which will apply to the facts of the present case. In the present case, there was admittedly n…

M/S Macmillan Publishers India Pvt Ltd, Chennai vs. ITO, Corporate Circle 4 (1), Chennai

In the result, the appeal filed by assessee is allowed

ITA 2784/CHNY/2019[2011-12]Status: DisposedITAT Chennai19 Sept 2022AY 2011-12

Bench: Shri Mahavir Singhand Shri G. Manjunathaआयकर अपील सं./Ita No.: 2784/Chny/2019 िनधा"रण वष" /Assessment Year: 2011-12 Macmillan Publishers India The Acit, Pvt. Ltd., V. Corporate Circle 4(1), No.21, Patullos Road, Chennai. Chennai – 600 002. Pan: Aafcm 5564R (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri R. Vijayaraghavan, Advocate ""यथ" क" ओर से/Respondent By : Shri P. Sajit Kumar, Jcit सुनवाई क" तार"ख/Date Of Hearing : 19.09.2022 घोषणा क" तार"ख/Date Of Pronouncement : 19.09.2022 आदेश /O R D E R Per Mahavir Singh: This Appeal By The Revenue Is Arising Out Of The Order Of Commissioner Of Income Tax (Appeals)-8, Chennai In Ita No.69/18- 19 Dated 16.07.2019. The Re-Assessment Was Framed By The Acit, Company Circle 4(1), Chennai For The Assessment Year 2011-12 U/S.143(3) R.W.S.147 Of The Income-Tax Act, 1961 (Hereinafter The ‘Act’) Vide Order Dated 30.12.2018. I.T.A. No.2784/Chny/2019 2 2. The First Issue In This Appeal Of Assessee Is As Regards To The Order Of Cit(A) Confirming The Action Of Ao In Reopening Of Assessment U/S.147 R.W.S 148 Of The Act Even Though There Is No Failure On The Part Of The Assessee To Disclose Fully & Truly The Material Fact Necessary For Its Assessment For The Relevant Assessment Year & The Original Assessment Was Completed U/S.143(3) Of The Act. For This, Assessee Has Raised Various Grounds Regarding Reopening Which Are Exhaustive & Argumentative, Hence Need Not To Be Reproduced.

For Appellant: Shri R. Vijayaraghavan, AdvocateFor Respondent: Shri P. Sajit Kumar, JCIT
Section 143(3)Section 147Section 148

…n view of the proviso to Section 147, the notice under section 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO [2000] 242 ITR 612. I.T.A. No.2784/Chny/2019 8 18. In our opinion, we have to see the law prevailing on the date of issue of the notice under Section 148, i.e., November 20, 1998. Admittedly, by that date, the new Section 147 has come into force and, hence, in our opinion, it is the new Section 147 which will apply to the facts of the present case. In the present c…

DCIT Corporate Circle 1(1), Chennai vs. Ashok Leyland Ltd., Chennai

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

ITA 2972/CHNY/2018[2009-10]Status: DisposedITAT Chennai08 Sept 2022AY 2009-10

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri Vikram Vijayaraghavan, AdvocateFor Respondent: Shri P. Sajit Kumar, JCIT
Section 143(3)Section 147Section 148Section 292B

…n view of the proviso to Section 147, the notice under section 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO [2000] 242 ITR 612. 18. In our opinion, we have to see the law prevailing on the date of issue of the notice under Section 148, i.e., November 20, 1998. Admittedly, by that date, the new Section 147 has come into force and, hence, in our opinion, it is the new Section 147 which will apply to the facts of the present case. In the present case, there was admittedly n…

ACIT, Cuddalore Circle, Cuddalore vs. M/S. the Cuddalore District Central Co-Operative Bank Ltd., Cuddalore

In the result, the appeal of the Revenue is dismissed

ITA 703/CHNY/2020[2008-09]Status: DisposedITAT Chennai03 Aug 2022AY 2008-09

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri M. Rajan, CITFor Respondent: Shri K. Ravi, Advocate
Section 143(3)Section 147Section 148Section 36(1)(viia)

…n view of the proviso to Section 147, the notice under section 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO [2000] 242 ITR 612. ITA No: 703/Chny/2020 18. In our opinion, we have to see the law prevailing on the date of issue of the notice under Section 148, i.e., November 20, 1998. Admittedly, by that date, the new Section 147 has come into force and, hence, in our opinion, it is the new Section 147 which will apply to the facts of the present case. In the present case,…

Late Smt. Geetha Vasan Rep by Legal Heir Shri M.G.Vasan, Chennai vs. ITO Non Corporate Ward 16(3), Chennai

In the result, the appeal of the Assessee is allowed

ITA 2666/CHNY/2018[2008-09]Status: DisposedITAT Chennai11 Apr 2022AY 2008-09

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Mr. S. Sridhar, AdvocateFor Respondent: Mr. ARV. Sreenivasan, Addl. CIT
Section 142(1)Section 143(3)Section 147Section 148

…आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी महावीर "सह, उपा"य" एवं "ी मनोज कुमार अ"वाल, लेखा सद"य के सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.:2666/CHNY/2018 िनधा"रण वष" /Assessment Year: 2008 - 2009 (Late) Smt. Geetha Vasan, The Income Tax Officer, Rep. By Legal Heir Shri M.G. Vasan, Vs. Non-Corporate Ward -16(3), Shri M. G. Vasan, Chennai – 600 034. Old No.157, New No.48, Luz Church Road, Mylapore, Chennai – 600 004. PAN : AEGPG 0456C (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ…

DCIT, Chennai vs. Rane Brake Lining Ltd., Chennai

In the result, the appeal filed by the Revenue is dismissed

ITA 2834/CHNY/2019[2011-12]Status: DisposedITAT Chennai25 Feb 2022AY 2011-12

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri P. Sajit Kumar, JCITFor Respondent: Shri R. Vijayaraghavan, Advocate
Section 143(3)Section 147Section 148

…tion 147, the notice under section I.T.A. No.2834/Chny/2019 10 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO [2000] 242 ITR 612. 18. In our opinion, we have to see the law prevailing on the date of issue of the notice under Section 148, i.e., November 20, 1998. Admittedly, by that date, the new Section 147 has come into force and, hence, in our opinion, it is the new Section 147 which will apply to the facts of the present case. In the present case, there was admittedly n…

Hyundai Motor India Limited, Kancheepuram vs. DCIT Ltu-II, Chennai

In the result, the appeal of the assessee is allowed

ITA 1836/CHNY/2017[2008-09]Status: DisposedITAT Chennai25 Feb 2022AY 2008-09

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri Sriram Seshadri, C.AFor Respondent: Shri Abani Kanta Nayak, CIT
Section 143(3)Section 147Section 148Section 151

…n view of the proviso to Section 147, the notice under section 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO [2000] 242 ITR 612. 18. In our opinion, we have to see the law prevailing on the date of issue of the notice under Section 148, i.e., November 20, 1998. Admittedly, by that date, the new Section 147 has come into force and, hence, in our opinion, it is the new Section 147 which will apply to the facts of the present case. In the present case, there was admittedly n…

DCIT, Chennai vs. Pvp Ventures Ltd., Chennai

In the result, both the appeals filed by the Revenue are dismissed

ITA 2308/CHNY/2014[2004-05]Status: DisposedITAT Chennai22 Feb 2022AY 2004-05

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri M. Rajan, CITFor Respondent: Shri B. Ramakrishnan, FCA
Section 143(3)Section 28

…e under section 148 would be illegal if issued more than four years after the end of the 16 I.T.A. Nos.1707/Chny/2013 & 2308/Chny/2014 relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO [2000] 242 ITR 612. 18. In our opinion, we have to see the law prevailing on the date of issue of the notice under Section 148, i.e., November 20, 1998. Admittedly, by that date, the new Section 147 has come into force and, hence, in our opinion, it is the new Section 147 which will apply to the facts of the present case. In the present case, there was admittedly n…

DCIT, Chennai vs. Pvp Ventures Ltd., Chennai

In the result, both the appeals filed by the Revenue are dismissed

ITA 1707/CHNY/2013[2006-07]Status: DisposedITAT Chennai22 Feb 2022AY 2006-07

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri M. Rajan, CITFor Respondent: Shri B. Ramakrishnan, FCA
Section 143(3)Section 28

…e under section 148 would be illegal if issued more than four years after the end of the 16 I.T.A. Nos.1707/Chny/2013 & 2308/Chny/2014 relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO [2000] 242 ITR 612. 18. In our opinion, we have to see the law prevailing on the date of issue of the notice under Section 148, i.e., November 20, 1998. Admittedly, by that date, the new Section 147 has come into force and, hence, in our opinion, it is the new Section 147 which will apply to the facts of the present case. In the present case, there was admittedly n…

DCIT, Coimbatore vs. Maheswara Sugars Limited, Coimbatore

In the result, the appeal filed by the Revenue is dismissed

ITA 1809/CHNY/2015[2006-07]Status: DisposedITAT Chennai31 Jan 2022AY 2006-07

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri P. Sajit Kumar, JCITFor Respondent: Shri R. Vijayaraghavan, Advocate
Section 143(1)Section 143(3)Section 148

…n view of the proviso to Section 147, the notice under section 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO [2000] 242 ITR 612. 18. In our opinion, we have to see the law prevailing on the date of issue of the notice under Section 148, i.e., November 20, 1998. Admittedly, by that date, the new Section 147 has come into force and, hence, in our opinion, it is the new Section 147 which will apply to the facts of the present case. In the present case, there was admittedly n…

Indian Overseas Bank, Chennai vs. JCIT, Chennai

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

ITA 781/CHNY/2001[1991-92]Status: DisposedITAT Chennai24 Jan 2022AY 1991-92

Bench: Shri Mahavir Singhand Shri G. Manjunathaआयकर अपीलसं./Ita Nos.: 780 & 781/Chny/2001 िनधा"रण वष" / Assessment Years: 1990-91 & 1991-92

For Appellant: Shri C. Naresh, CAFor Respondent: Shri Clement Kumar Ramesh, CIT
Section 115JSection 143(3)Section 147

…n view of the proviso to Section 147, the notice under section 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO [2000] 242 ITR 612. 18. In our opinion, we have to see the law prevailing on the date of issue of the notice under Section 148, i.e., November 20, 1998. Admittedly, by that date, the new Section 147 has come into force and, hence, in our opinion, it is the new Section 147 which will apply to the facts of the present case. In the present case, there was admittedly n…

Indian Overseas Bank, Chennai vs. JCIT, Chennai

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

ITA 780/CHNY/2001[1990-91]Status: DisposedITAT Chennai24 Jan 2022AY 1990-91

Bench: Shri Mahavir Singhand Shri G. Manjunathaआयकर अपीलसं./Ita Nos.: 780 & 781/Chny/2001 िनधा"रण वष" / Assessment Years: 1990-91 & 1991-92

For Appellant: Shri C. Naresh, CAFor Respondent: Shri Clement Kumar Ramesh, CIT
Section 115JSection 143(3)Section 147

…n view of the proviso to Section 147, the notice under section 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO [2000] 242 ITR 612. 18. In our opinion, we have to see the law prevailing on the date of issue of the notice under Section 148, i.e., November 20, 1998. Admittedly, by that date, the new Section 147 has come into force and, hence, in our opinion, it is the new Section 147 which will apply to the facts of the present case. In the present case, there was admittedly n…

M/S Ratna Cafe, Chennai vs. ACIT Non Corporate Circle 9, Chennai

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

ITA 1509/CHNY/2018[2009-10]Status: DisposedITAT Chennai21 Jan 2022AY 2009-10

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri AR.V. Sreenivasan, Addl.CIT
Section 143(3)Section 147Section 154

…tion 147, the notice under section 148 would be illegal if issued more than four years after the end of the I.T.A. No.1509/Chny/2018 15 relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO [2000] 242 ITR 612. 18. In our opinion, we have to see the law prevailing on the date of issue of the notice under Section 148, i.e., November 20, 1998. Admittedly, by that date, the new Section 147 has come into force and, hence, in our opinion, it is the new Section 147 which will apply to the facts of the present case. In the present case, there was admittedly n…

ITO 6(1)(3), Mumbai vs. Aristo Realty Developers Ltd, Mumbai

In the result, the appeal of Revenue appeal is dismissed

ITA 3638/MUM/2014[2005-06]Status: DisposedITAT Mumbai30 Aug 2019AY 2005-06

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

For Appellant: Ms. Anadi Verma, DRFor Respondent: Shri D.V. Lakhani, AR
Section 115JSection 143(3)Section 145(1)Section 147Section 148

…in view of the proviso to section 147 the notice under section 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO[2000] 242 ITR 612. In our opinion, we have to see the law prevailing on the date of issue of the notice under section 148, i.e., 20-11-1998. Admittedly, by that date, the new section 147 has come into force and, hence, in our opinion, it is the new section 147 which will apply to the facts of the present case. In the present case, there was admittedly no failure o…

Pelican Credits & Scurities P. Ltd, Mumbai vs. DCIT 5(2)(1), Mumbai

In the result, the appeal of assessee is allowed on jurisdictional issue

ITA 2413/MUM/2017[2007-08]Status: DisposedITAT Mumbai12 Jul 2019AY 2007-08

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

For Appellant: Shri Bhupendra Shah, ARFor Respondent: Shri Abirama Karthikeyan, DR
Section 133(6)Section 143(1)Section 143(3)Section 147Section 148

…to section 147 the notice under section 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree ITAs No. 2413/Mum/2017 Tharad Jain Yuvak Mandal v. ITO[2000] 242 ITR 612. In our opinion, we have to see the law prevailing on the date of issue of the notice under section 148, i.e., 20-11-1998. Admittedly, by that date, the new section 147 has come into force and, hence, in our opinion, it is the new section 147 which will apply to the facts of the present case. In the present case, there was admittedly no failure o…

DCIT- Cir- 6(3)(1), Mumbai vs. Imperial Procurement Services Pvt. Ltd., Mumbai

In the result, the appeal of Revenue is dismissed

ITA 2737/MUM/2018[2007-08]Status: DisposedITAT Mumbai20 Jun 2019AY 2007-08

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: Jacinta Zimik Vishai, DRFor Respondent: Mr. Anuj Kisnadwala, AR
Section 115JSection 143(3)Section 147Section 148

…in view of the proviso to section 147 the notice under section 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO[2000] 242 ITR 612. In our opinion, we have to see the law prevailing on the date of issue of the notice under section 148, i.e., 20-11-1998. Admittedly, by that date, the new section 147 has come into force and, hence, in our opinion, it is the new section 147 20 which will apply to the facts of the present case. In the present case, there was admittedly no failu…

DCIT4(1)(1), Mumbai vs. Arcadia Share & Stock Brokers P. Ltd, Mumbai

In the result, the appeal Revenue is dismissed and the CO of the assessee is allowed

ITA 5712/MUM/2017[2008-09]Status: DisposedITAT Mumbai21 May 2019AY 2008-09

Bench: Sri Mahavir Singh, Jm & Sri Nk Pradhan, Am Aayakr Apila Sam./ Ita No. 5712/Mum/2017 (Inaqa-Arna Baya- / Assessment Year 2008-09) The Dy. Commissioner Of Arcadia Shares & Stock Income Tax, Circle 4(1)(1) Brokers Pvt. Ltd. Room No. 640, 6Th Floor, 328/324, Ninad Chs, 1St Vs. Aayakar Bhavan, M.K. Road, Floor, Bldg No. 7, Service Mumbai-400 020 Road, Near Bhavishya Nidhi Bhavan, Mumbai-400 051 .. (P`%Yaqaai- / Respondent) (Apilaaqai- / Appellant) स्थायी लेखा सं./Pan No. Aaaca4562G प्रत्याक्षेप M./ Co No. 44/Mum/2019 (Arising In Ita No. 5712/Mum/2017 For Ay 2008-09) Arcadia Shares & Stock The Dy. Commissioner Of Brokers Pvt. Ltd. Income Tax, Circle 4(1)(1) 328/324, Ninad Chs, 1St Room No. 640, 6 Th Floor, Vs. Floor, Bldg No. 7, Service Aayakar Bhavan, M.K. Road, Near Bhavishya Nidhi Road, Mumbai-400 020 Bhavan, Mumbai-400 051 .. (P`%Yaqaai- / Respondent) (Apilaaqai- / Appellant) अपीलाथी की ओर से / Appellant By : Shri Satischandra Rajore, Dr प्रत्यथी की ओर से / Respondent By : Shri Dr. K. Shivaram, Ms Neelam Jadhav, Ars सुनवाई की तारीख / Date Of Hearing: 13-05-2019 घोषणा की तारीख / Date Of Pronouncement : 21-05-2019

For Appellant: Shri Satischandra Rajore, DRFor Respondent: Shri Dr. K. Shivaram
Section 115JSection 143(3)Section 147Section 148Section 14A

…to section 147 the notice 15 CO No. 44/Mum/2019 under section 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO[2000] 242 ITR 612. In our opinion, we have to see the law prevailing on the date of issue of the notice under section 148, i.e., 20-11-1998. Admittedly, by that date, the new section 147 has come into force and, hence, in our opinion, it is the new section 147 which will apply to the facts of the present case. In the present case, there was admittedly no failure o…

Panther Fincap & Management Services Ltd, Mumbai vs. ACIT Cen Cir 40, Mumbai

In the result, the appeal of assessee is allowed

ITA 1326/MUM/2012[2003-04]Status: DisposedITAT Mumbai31 Aug 2018AY 2003-04

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am Aayakr Apila Sam./ Ita No. 1326/Mum/2012 (Inaqa-Arna Baya- / Assessment Year 2003-04) Panther Fincap & Management The Asst. Commissioner Of Services Ltd. Income Tax, Central Circle Bhupen Chambers, Ground 40, Aayakar Bhavan, M.K. Vs. Floor, 9, Dalal Street, Fort, Road, Mumbai-400 020 Mumbai-400 023 .. (P`%Yaqaai- / Respondent) (Apilaaqai- / Appellant) स्थायी लेखा िं./ Pan No. Aaacp3045P अपीलाथी की ओर े / Appellant By : Shri Rajiv Khandelwal, Ar प्रत्यथी की ओर े / Respondent By : Shri Dr. P Daniel, Dr ुनवाई की तारीख / Date Of Hearing: 23-08-2018 घोषणा की तारीख / Date Of Pronouncement : 31-08-2018 Aadosa / O R D E R

For Appellant: Shri Rajiv Khandelwal, ARFor Respondent: Shri Dr. P Daniel, DR
Section 139(1)Section 143(1)Section 143(3)Section 147Section 148

…in view of the proviso to section 147 the notice under section 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO[2000] 242 ITR 612. In our opinion, we have to see the law prevailing on the date of issue of the notice under section 148, i.e., 20-11-1998. Admittedly, by that date, the new section 147 has come into force and, hence, in our opinion, it is the new section 147 which will apply to the facts of the present case. In the present case, there was admittedly no failure o…

Asst CIT 16(3), Mumbai vs. Mani Exports, Mumbai

In the result, the appeal of Revenue is dismissed

ITA 3759/MUM/2013[2004-05]Status: DisposedITAT Mumbai26 Apr 2017AY 2004-05

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am Asst. Commissioner Of Income Tax, Mani Exports 16(3), Mumbai, Matru Mandir, 1903 Panchratna Opera House, Vs. 2Nd Floor, R. No. 206 Tardeoi Mumbai-400 004 Rd, Mumbai-07 Appellant .. Respondent Pan No. Aaefm2320F Revenue By .. Shri Dr. Suman Ratnam, Dr Assessee By .. Shri K.A. Vaidyalingan, Ar Date Of Hearing .. 09-02-2017 Date Of Pronouncement .. 26-04-2017 O R D E R Per Mahavir Singh, Jm:

Section 127(2)Section 143(3)Section 147Section 148Section 80Section 80HSection 880H

…in view of the proviso to section 147 the notice under section 148 would be illegal if issued more than four years after the end of the relevant assessment year. The same view was taken by the Gujarat High Court in Shree Tharad Jain Yuvak Mandal v. ITO[2000] 242 ITR 612. In our opinion, we have to see the law prevailing on the date of issue of the notice under section 148, i.e., 20-11- 1998. Admittedly, by that date, the new section 147 has come into force and, hence, in our opinion, it is the new section 147 which will apply to the facts of the present case. In the present case, there was admittedly no failure…