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

M/S. Novartis India Ltd., Mumbai vs. ACIT Cir. - 7(1), Mumbai

In the result, assessee’s appeal is allowed and Revenue’s appeal is dismissed

ITA 1953/MUM/2006[1998-1999]Status: DisposedITAT Mumbai13 Apr 2017AY 1998-1999

Bench: Sri Mahavir Singh, Jm & Sri Ramit Kochar, Am Dy. Commissioner Of Income Tax, Novartis India Ltd. Circle 7(1) Sandoz House, Dr. Annie Acit Circle 7(1), Vs. Besant Road, Mumbai-400 018 Aayakar Bhavan, Mumbai-20 Pan No. Aaach2914F Appellant .. Respondent Novartis India Ltd. Dy. Commissioner Of Income Tax, Sandoz House, Dr. Annie Besant Circle 7(1) Road, Mumbai-400 018 Vs. Acit Circle 7(1), Aayakar Bhavan, Mumbai-20 Pan No. Aaach2914F Revenue By .. Shri Sanj Kumar Agarwal, Dr Assessee By .. Shri J.D. Mistry, Ar Date Of Hearing .. 13-04-2017 Date Of Pronouncement .. 13-04-2017 O R D E R Per Mahavir Singh, Jm:

Section 143(3)Section 147Section 148Section 195Section 40

…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…

ACIT Cir 7(1), Mumbai vs. M/S Novartis India Ltd, Mumbai

In the result, assessee’s appeal is allowed and Revenue’s appeal is dismissed

ITA 1282/MUM/2006[98-99]Status: DisposedITAT Mumbai13 Apr 2017

Bench: Sri Mahavir Singh, Jm & Sri Ramit Kochar, Am Dy. Commissioner Of Income Tax, Novartis India Ltd. Circle 7(1) Sandoz House, Dr. Annie Acit Circle 7(1), Vs. Besant Road, Mumbai-400 018 Aayakar Bhavan, Mumbai-20 Pan No. Aaach2914F Appellant .. Respondent Novartis India Ltd. Dy. Commissioner Of Income Tax, Sandoz House, Dr. Annie Besant Circle 7(1) Road, Mumbai-400 018 Vs. Acit Circle 7(1), Aayakar Bhavan, Mumbai-20 Pan No. Aaach2914F Revenue By .. Shri Sanj Kumar Agarwal, Dr Assessee By .. Shri J.D. Mistry, Ar Date Of Hearing .. 13-04-2017 Date Of Pronouncement .. 13-04-2017 O R D E R Per Mahavir Singh, Jm:

Section 143(3)Section 147Section 148Section 195Section 40

…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…

Smt Santi Sarkar, Kolkata vs. ITO, WD-37(2), Kolkata

In the result, appeal of assessee is allowed

ITA 797/KOL/2015[2006-2007]Status: DisposedITAT Kolkata15 Mar 2016AY 2006-2007

Bench: Shri Mahavir Singh, Jm]

For Appellant: Shri I. Banerjee, FCAFor Respondent: Shri Md. Ghayas Uddin, JCIT, Sr. DR
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. 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 no fa…

JCIT(OSD), Circle - 8, Kolkata vs. M/S. Sicpa India Pvt. Ltd., Kolkata

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

ITA 36/KOL/2012[2002-03]Status: DisposedITAT Kolkata09 Mar 2016AY 2002-03

Bench: Shri Mahavir Singh, Jm & Shri Waseem Ahmed, Am]

For Appellant: Shri Soumen Adak & Shri Harish Agarwal, ARsFor Respondent: Shri Sallong Yaden, JCIT, Sr. DR
Section 143Section 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. 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 no fa…

DCIT, Circle-1, Kolkata vs. M/S Cheviot Co. Ltd., Kolkata

In the result, the appeals of revenue are dismissed and COs of assessee are allowed

ITA 530/KOL/2012[2003-2004]Status: DisposedITAT Kolkata20 Jan 2016AY 2003-2004

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

For Appellant: Shri Manish Tiwari, FCAFor Respondent: Shri Anil Kr. Pande, JCIT, Sr. DR
Section 10BSection 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. 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 no fa…