Spectra Shares and Scrips (P) Limited v. Commissioner of Income Tax

36 Taxmann.com 348High Court2013#4203 most cited

What is Spectra Shares and Scrips (P) Limited v. Commissioner of Income Tax authority for?

The Assessing Officer is not required to provide detailed reasoning in their assessment order; if there is evidence of application of mind through inquiry, the Commissioner cannot invoke revisional powers under Section 263 merely for entertaining a different opinion.

28

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2026.

Also referred to as

Spectra Shares and Scrips · Section 263 · lack of enquiry · application of mind · Assessing Officer · Commissioner · revision · erroneous assessment · prejudicial to revenue · Malabar Industrial

Sections most often in play

Section 143(3)Section 263Section 142(1)Section 144BSection 69Section 115BBESection 115JBSection 133A
Read the full judgment

Issues it is cited on

lack of enquiryassessment order erroneoussection 263(1)revision u/s 263malabar industrialerroneous and prejudicialsection 119section 263change of opinionsection 26section 115jbsection 153d

Judgments citing Spectra Shares and Scrips (P) Limited v. Commissioner of Income Tax

The Pr Commissioner of the Income Tax (Central) vs. M/S Deccan Tobacco Company

The Appeals are dismissed

ITTA/9/2021HC Andhra Pradesh01 Aug 2021

Bench: JOYMALYA BAGCHI,K SURESH REDDY

Section 115BSection 132Section 142(1)Section 153DSection 69

…ssioner or Commissioner,— (a) the order is passed without making inquiries or verification which should have been made; (b) the order is passed allowing any relief without inquiring into the claim; 6 36 Taxmann.com 348 (HC AP) JB J & KSR, J ITTA Nos.8, 9 & 14 of 2021 8 (c) the order has not been made in accordance with any order, direction or instruction issued by the Board under section 119; or (d) the order has not been passed in accordance with any decision which is prejudicial to the assessee, rendered by the jurisdictional High Cour…

Girija Modern Rice Mill, Vijayawada vs. The Principal Commissioner of Income Tax, Vijayawada

In the result, appeal of the assessee is allowed

ITA 142/VIZ/2020[2015-16]Status: DisposedITAT Visakhapatnam23 Nov 2020AY 2015-16

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.142/Viz/2020 (ननधधारण वर्ा/Assessment Year:2015-16) M/S Girija Modern Rice Mill Vs. Pr.Commissioner Of Income Tax D.No.159/1, Enikepadu Vijayawada Krishna (Dt.) Vijayawada [Pan : Aahfg4582E]

For Appellant: Shri M.V.Prasad, ARFor Respondent: Shri D.K.Sonowal. CIT, DR
Section 143(3)Section 144ASection 263

…आयकरअपीलीयअधिकरण, धिशाखापटणमपीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM (through web-based video conferencing platform) श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.No.142/Viz/2020 (ननधधारण वर्ा/Assessment Year:2015-16) M/s Girija Modern Rice Mill Vs. Pr.Commissioner of Income Tax D.No.159/1, Enikepadu Vijayawada Krishna (Dt.) Vijayawada [PAN : AAHFG4582E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appella…

Khan Mohammad Diamonds & Jewellers Private Limited, Guntur vs. The Principal Commissioner of Income Tax(Central), Visakhapatnam

In the result, appeal of the assessee is allowed

ITA 141/VIZ/2020[2017-18]Status: DisposedITAT Visakhapatnam23 Nov 2020AY 2017-18

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.141/Viz/2020 (ननधधारण वर्ा/Assessment Year:2017-18) M/S Khan Mohammad Diamonds Vs. Pr.Commissioner Of Income Tax & Jewellers Private Limited, (Central) 5-37-221/A, 4Th Lane Visakhapatnam Brodipet, Guntur [Pan : Aacck6467A]

For Appellant: Shri M.V.Prasad, ARFor Respondent: Shri D.K.Sonowal. CIT, DR
Section 115BSection 11BSection 132Section 142(1)Section 263Section 68Section 69Section 69C

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM (through web-based video conferencing platform) श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.No.141/Viz/2020 (ननधधारण वर्ा/Assessment Year:2017-18) M/s Khan Mohammad Diamonds Vs. Pr.Commissioner of Income Tax & Jewellers Private Limited, (Central) 5-37-221/A, 4th Lane Visakhapatnam Brodipet, Guntur [PAN : AACCK6467A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Re…

Deccan Jewellers Private Limited, Vijayawada vs. The Principal Commissioner of Income Tax(Central), Visakhapatnam

In the result, appeal of the assessee is allowed

ITA 140/VIZ/2020[10000]Status: DisposedITAT Visakhapatnam23 Nov 2020

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपीलसं./I.T.A.No.140/Viz/2020 (ननधधारण वर्ा/Assessment Year:2017-2018) M/S Deccan Jewellers Private Limited Vs. Pr.Commissioner Of K.B.N.Complex Income Tax (Central) D.No.27-16-65 Visakhapatnam Governorpet Vijayawada [Pan : Aaccd1524H] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shrim.V.Prasad.Ar प्रत्यधथी की ओर से / Respondent By : Shri D.K.Sonowal, Dr 22.09.2020 सुनवधई की तधरीख / Date Of Hearing : घोर्णध की तधरीख/Date Of Pronouncement : 23.11.2020

For Appellant: ShriM.V.Prasad.ARFor Respondent: Shri D.K.Sonowal, DR
Section 115BSection 132Section 139(1)Section 142(1)Section 143(2)Section 263Section 69

…Act and also objected for taking up the case for revision u/s 263 of the Act and relied on the following decisions. i) Malabar Industries Co.Ltd Vs. CIT 243 ITR 83 (SC) ii) CIT Vs. Max India Ltd., 295 ITR 282 (SC) iii) Spectra Shares and Scrips P.Ltd. Vs.CIT 36 Taxmann.com 348 (HC AP) iv) CIT Vs. Srinivasa Hatcheries Pvt. Ltd., 60 Taxmann.com 207 (HC AP) v) CIT Vs. P.D.Abraham 48 taxmann.com 352 (Kerala HC) vi) Bajargan Traders Vs. ACIT ITA No.137/JP/17, dated 17.03.2017 vii) CIT Vs. S.K.Srigiri and Brothers 298 ITR 13 viii) DCIT Vs. V.Ram Narayan Birla ITA No.482/JP/2015 dated 30.09.2016 ix) Chaksi Hiralal Maga…

Deccan Tobacco Company, Guntur vs. The Principal Commissioner of Income Tax(Central), Viskhapatnam

In the result, appeal of the assessee is allowed

ITA 139/VIZ/2020[2017-18]Status: DisposedITAT Visakhapatnam23 Nov 2020AY 2017-18

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.139/Viz/2020 (ननधधारण वर्ा/Assessment Year:2017-18) M/S Deccan Tobacco Company Vs. Pr.Commissioner Of Income Tax D.No.5-7-6-1/5, Brodipet (Central) Guntur Visakhapatnam [Pan : Aahfd1174H]

For Appellant: Shri M.V.Prasad, ARFor Respondent: Shri D.K.Sonowal. CIT, DR
Section 115BSection 132Section 142(1)Section 263Section 69

…n Tobacco Company, Guntur to take up the case for revision u/s 263 of the Act and relied on the following decisions. i) Malabar Industries Co.Ltd Vs. CIT 243 ITR 83 (SC) ii) CIT Vs. Max India Ltd., 295 ITR 282 (SC) iii) Spectra Shares and Scrips P.Ltd. Vs.CIT 36 Taxmann.com 348 (HC AP) iv) CIT Vs. Srinivasa Hatcheries Pvt. Ltd., 60 Taxmann.com 207 (HC AP) v) CIT Vs. P.D.Abraham 48 taxmann.com 352 (Kerala HC) vi) Bajargan Traders Vs. ACIT ITA No.137/JP/17, dated 17.03.2017 vii) CIT Vs. S.K.Srigiri and Brothers 298 ITR 13 viii) DCIT Vs. V.Ram Narayan Birla ITA No.482/JP/2015 dated 30.09.2016 ix) ChaksiHiralalMagan…

Dte Exports Private Limited, Guntur vs. The Principal Commissioner of Income Tax (Central), Visakhapatnam

In the result, appeal of the assessee is allowed

ITA 138/VIZ/2020[2017-18]Status: DisposedITAT Visakhapatnam23 Nov 2020AY 2017-18

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.138/Viz/2020 (ननधधारण वर्ा/Assessment Year:2017-18) M/S Dte Exports Private Limited Vs. Pr.Commissioner Of Income Tax D.No.5-7-6, 1/5, Brodipet (Central) Guntur Visakhapatnam [Pan : Aaacd7845B]

For Appellant: Shri M.V.Prasad, ARFor Respondent: Shri D.K.Sonowal. CIT, DR
Section 115BSection 143(3)Section 263Section 69

…of the Act. Thus, argued that there is no case for revision u/s 263 on difference of opinion. The Ld.AR relied on the decision of Hon’ble Jurisdictional High Court in Spectra Shares and Scrips (P) Limited Vs. Commissioner of Income Tax – III, Hyderabad [2013] 36 Taxmann.com 348, wherein the Hon’ble High Court held that merely because the Pr.CIT has different opinion in the matter he cannot invoke his powers u/s 263 of the Act. The Ld.AR also relied on the decision of this Tribunal in the case of Vegesina Kamala Vs. Income Tax Officer, Palakol 8 I.T.A. No138/Viz/2020, A.Y.2017-18 M/s DTE Exports Private Ltd., Gun…

M/S. Maa Tarini Industries Ltd., Sundargarh vs. Pr. CIT, Sambalpur

In the result, appeal of the assessee is dismissed

ITA 292/CTK/2019[2014-15]Status: DisposedITAT Cuttack17 Mar 2020AY 2014-15

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2014-2015

For Appellant: Shri M.R.Sahu, ARFor Respondent: Shri M.K.Gautam, CIT DR
Section 142(1)Section 143(3)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE SHRI CHANDRA MOHAN GARG, JUDICIAL MEMBER AND LAXMI PRASAD SAHU, ACCOUNTANT MEMBER Assessment Year : 2014-2015 Maa Tarini Industries Ltd., Qr. Vs. Pr. CIT, Sambalpur No.N-4/12, Ground Floor, Civil Township, Rourkela-769004 PAN/GIR No.AACCM 6126 E (Appellant) .. ( Respondent) Assessee by : Shri M.R.Sahu, AR Revenue by : Shri M.K.Gautam, CIT DR Date of Hearing : 20 /02/ 2020 Date of Pronouncement : 17 /03/2020 O R D E R Per C.M.Garg,JM This is an appeal filed by the assessee against the order u/s.263 of the Act of the Pr. CIT(A), Sambalpur da…

Nco Extrusions Ltd, Mumbai vs. CIT 8, Mumbai

In the result, the appeal filed by the assessee is hereby dismissed

ITA 3662/MUM/2014[2009-10]Status: DisposedITAT Mumbai08 Jul 2016AY 2009-10

Bench: Shri R.C.Sharma, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.3662/Mum/2014 ("नधा"रण वष" / Assessment Year: 2009-10) Nico Extrusions Ltd. Commissioner Of Income बनाम/ (Previously Known As Nico Tax – 8 Vs. Extrusions Pvt. Ltd.) Ayakar Bhavan, 12, Niraj Industrial Estate, Mumbai - 400020 Off. Mahakali Caves Rd., Andheri (E), Mumbai - 400093 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacn2104R

For Appellant: Shri Paresh ShapariaFor Respondent: Shri N. P. Singh
Section 143(3)Section 263

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ ‘बी’ मुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI "ी आर. सी. शमा", लेखा सद"य, एवं "ी अमरजीत "संह, "या"यक सद"य, के सम" BEFORE SHRI R.C.SHARMA, AM AND SHRI AMARJIT SINGH, JM आयकर अपील सं/ I.T.A. No.3662/Mum/2014 ("नधा"रण वष" / Assessment Year: 2009-10) Nico Extrusions Ltd. Commissioner of Income बनाम/ (Previously known as Nico Tax – 8 Vs. Extrusions Pvt. Ltd.) Ayakar Bhavan, 12, Niraj Industrial Estate, Mumbai - 400020 Off. Mahakali Caves Rd., Andheri (E), Mumbai - 400093 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACN2104R (अपीलाथ" /Appellant) .. (""यथ" / Responden…