DCIT, JAIPUR vs. GVK JAIPUR EXPRESSWAY PVT LTD, JAIPUR

In the result, the appeal of the revenue for the years [A

reassess under section 147 or pass an order\nenhancing the assessment or reducing a refund already made or\notherwise increasing the liability of the assessee under section 154, for\nany assessment year beginning on or before the 1st day of April, 2001.]\n\nThat the heading of section 14A, i.e. “Expenditure incurred in relation to\nincome not includible in total

DCIT, JAIPUR vs. GVK JAIPUR EXPRESSWAY PVT LTD, JAIPUR

In the result, the appeal of the revenue for the years [A

reassess under section 147 or pass an order\nenhancing the assessment or reducing a refund already made or\notherwise increasing the liability of the assessee under section 154, for\nany assessment year beginning on or before the 1st day of April, 2001.]\n\nThat the heading of section 14A, i.e. “Expenditure incurred in relation to\nincome not includible in total

RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORP. LTD.,JAIPUR vs. ACIT, JAIPUR

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

14A of Income Tax Act. 4. The appellant craves its rights to add, amend or alter any of the grounds on or before the hearing.” 2. Ground Nos. 1 to 3 of appeal filed by the asseassee are regarding validity of reopening of the assessment. The assessee filed its return of income on 24.09.2008 declaring income of Rs. 81.29 Crores

DCIT, JAIPUR vs. RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORPORTATION LTD., JAIPUR

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

14A of Income Tax Act. 4. The appellant craves its rights to add, amend or alter any of the grounds on or before the hearing.” 2. Ground Nos. 1 to 3 of appeal filed by the asseassee are regarding validity of reopening of the assessment. The assessee filed its return of income on 24.09.2008 declaring income of Rs. 81.29 Crores

POOJASHISH INFRASTRUCTURES PVT. LTD.,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, KOTA

In the result, appeal of the assessee is allowed

14A and addition towards unclaimed liability were also deleted by the ld. CIT(A). The assessee is now in appeal against the addition of Rs. 18,35,000/- sustained by the ld. CIT(A) u/s 68 of the Act. 4. At the outset, the ld. AR submitted that the facts and circumstances of the case are exactly identical to that

M/S. MAHALAXMI SAWS PVT. LTD., H-39, ROAD NO.2B, RIICO INDUSTRIAL AREA, SIRSI ROAD, BINDAYAKA, JAIPUR,JAIPUR vs. INCOME TAX OFFICER WARD-4(2) JAIPUR, JAIPUR

In the result, this appeal of the assessee is allowed

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001.” From perusal of heading of section 14A, we observed that the "Expenditure incurred in relation to income

COMPUCOM SOFTWARE LIMITED,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-VI, JAIPUR

In the result, the appeal of the assessee is disposed off in light of aforesaid directions

14A. The action of ld. CIT(A) is illegal, unjustified, arbitrary and against the facts of the case. Relief may please be granted by quashing the said disallowance made by the ld. AO and confirmed by the ld. CIT(A).” 2. In Ground No. 1, the assessee has challenged the reopening the assessment proceedings u/s 147

RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORP. LTD.,JAIPUR vs. DCIT, JAIPUR

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

reassessment order: 15. The Revenue has raised the following grounds:- “1. Whether on the facts and in the circumstances of the case and in law, the CIT(A) has erred in allowing deduction of Rs. 8,83,09,666/- on interest income (including penal interest income Rs. 8,83,09,666/- and other income of Rs. 56,05,249/-) 2

ACIT, JAIPUR vs. RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORPORATION LTD., JAIPUR

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

reassessment order: 15. The Revenue has raised the following grounds:- “1. Whether on the facts and in the circumstances of the case and in law, the CIT(A) has erred in allowing deduction of Rs. 8,83,09,666/- on interest income (including penal interest income Rs. 8,83,09,666/- and other income of Rs. 56,05,249/-) 2

RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORP. LTD.,JAIPUR vs. ACIT, JAIPUR

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

reassessment order: 15. The Revenue has raised the following grounds:- “1. Whether on the facts and in the circumstances of the case and in law, the CIT(A) has erred in allowing deduction of Rs. 8,83,09,666/- on interest income (including penal interest income Rs. 8,83,09,666/- and other income of Rs. 56,05,249/-) 2

DCIT, JAIPUR vs. RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORPORTATION LTD., JAIPUR

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

reassessment order: 15. The Revenue has raised the following grounds:- “1. Whether on the facts and in the circumstances of the case and in law, the CIT(A) has erred in allowing deduction of Rs. 8,83,09,666/- on interest income (including penal interest income Rs. 8,83,09,666/- and other income of Rs. 56,05,249/-) 2

RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORP. LTD.,JAIPUR vs. ACIT, JAIPUR

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

reassessment order: 15. The Revenue has raised the following grounds:- “1. Whether on the facts and in the circumstances of the case and in law, the CIT(A) has erred in allowing deduction of Rs. 8,83,09,666/- on interest income (including penal interest income Rs. 8,83,09,666/- and other income of Rs. 56,05,249/-) 2

RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORP. LTD.,JAIPUR vs. ACIT, JAIPUR

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

reassessment order: 15. The Revenue has raised the following grounds:- “1. Whether on the facts and in the circumstances of the case and in law, the CIT(A) has erred in allowing deduction of Rs. 8,83,09,666/- on interest income (including penal interest income Rs. 8,83,09,666/- and other income of Rs. 56,05,249/-) 2

DCIT, JAIPUR vs. RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORPORTATION LTD., JAIPUR

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

reassessment order: 15. The Revenue has raised the following grounds:- “1. Whether on the facts and in the circumstances of the case and in law, the CIT(A) has erred in allowing deduction of Rs. 8,83,09,666/- on interest income (including penal interest income Rs. 8,83,09,666/- and other income of Rs. 56,05,249/-) 2

ACIT, JAIPUR vs. RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORP., JAIPUR

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

reassessment order: 15. The Revenue has raised the following grounds:- “1. Whether on the facts and in the circumstances of the case and in law, the CIT(A) has erred in allowing deduction of Rs. 8,83,09,666/- on interest income (including penal interest income Rs. 8,83,09,666/- and other income of Rs. 56,05,249/-) 2

ACIT, JAIPUR vs. RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORP., JAIPUR

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

reassessment order: 15. The Revenue has raised the following grounds:- “1. Whether on the facts and in the circumstances of the case and in law, the CIT(A) has erred in allowing deduction of Rs. 8,83,09,666/- on interest income (including penal interest income Rs. 8,83,09,666/- and other income of Rs. 56,05,249/-) 2

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. M/S BARAN ROLLER FLOUR MILLS PVT. LTD., KOTA

147 (Delhi) referred above which have been also been followed recently by Hon’ble Delhi Tribunal in case of ITO vs. Softline Creations (P) Ltd. in ITA No. 744/Del/2012 vide its order dated 10.02.2016. Further, Hon’ble Apex Court as well as High Court has held that once the identity of creditor is established, the department is free to reopen

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. M/S BARAN ROLLER FLOUR MILLS PVT. LTD., KOTA

147 (Delhi) referred above which have been also been followed recently by Hon’ble Delhi Tribunal in case of ITO vs. Softline Creations (P) Ltd. in ITA No. 744/Del/2012 vide its order dated 10.02.2016. Further, Hon’ble Apex Court as well as High Court has held that once the identity of creditor is established, the department is free to reopen