PR. COMMISSIONER OF INCOME TAX vs. SMT. G. LAKSHMI ARUNA

Bench: K.SOMASHEKAR,UMESH M ADIGA

57 of notice under Section 22(2) of the 1922 Act (corresponding to Section 148 of the Act) the previous under assessment is set aside and the ITO has the jurisdiction and duty to levy tax on the entire income that had escaped assessment during the previous year. What is set aside is, thus, only the previous under assessment

PR. COMMISSIONER OF INCOME TAX vs. SHRI. GALI JANARDHANA REDDY

Bench: K.SOMASHEKAR,UMESH M ADIGA

57 30.Whereas, the Department has challenged the aforesaid order passed by the ITAT before this Court u/s 260A of the Act. It is relevant to note that upon the objection raised by the counsel for the respondent that against an order passed in a miscellaneous petition, appeal u/s 260A of the Act was not maintainable without there being challenge

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBC KNOWLEDGE PARK PVT. LTD.,

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

147 (income escaping assessment) and 263 (revision of orders) of the Act. It was also held that it was not open for the assessee to seek deduction or claim expenditure, which had not - 64 - been claimed in the original assessment, which assessment already stood completed, only because a assessment under Section 153A of the Act in pursuance of search

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBC KNOWLEDGE PARK PVT. LTD.,

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

147 (income escaping assessment) and 263 (revision of orders) of the Act. It was also held that it was not open for the assessee to seek deduction or claim expenditure, which had not - 64 - been claimed in the original assessment, which assessment already stood completed, only because a assessment under Section 153A of the Act in pursuance of search

THE COMMISIONER OF INCOME-TAX vs. M/S IBC KNOWLEDGE PARK PVT LTD

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

147 (income escaping assessment) and 263 (revision of orders) of the Act. It was also held that it was not open for the assessee to seek deduction or claim expenditure, which had not - 64 - been claimed in the original assessment, which assessment already stood completed, only because a assessment under Section 153A of the Act in pursuance of search

CORPORATION BANK vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

Accordingly, the petitions are allowed

Bench: The Hon’Ble Mr. Justice Anand Byrareddy

reassessment proceedings having been initiated on a mere change of opinion, according to the learned Senior Advocate, was not permissible under Section 147 of the Act. All the details 5 regarding investment portfolio of the petitioner for the year in question, including the annual report of the petitioner for the year ended 31.03.2010, necessary for one to have to come

CORPORATION BANK vs. THE ASSISTANT COMMISSIONER

Accordingly, the petitions are allowed

Bench: The Hon’Ble Mr. Justice Anand Byrareddy

reassessment proceedings having been initiated on a mere change of opinion, according to the learned Senior Advocate, was not permissible under Section 147 of the Act. All the details 5 regarding investment portfolio of the petitioner for the year in question, including the annual report of the petitioner for the year ended 31.03.2010, necessary for one to have to come

KARNATAKA BANK LTD vs. THE ASSISTANT COMMISSIONER OF INCOME -TAX

Accordingly, the petition is allowed in

Bench: The Hon’Ble Mr. Justice Anand Byrareddy

reassessment proceedings having been initiated on a mere change of opinion, according to the learned Senior Advocate, was not permissible under Section 147 of the Act. All the details regarding investment portfolio of the petitioner for the year in question, including the annual report of the petitioner for the year ended 31.03.2010, necessary for one to have to come

THE COMMISSIONER OF INCOME TAX GULBARGA vs. M/S MANJUNATHA COTTON AND GINNING FACTORY

The appeals are dismissed

Bench: ARAVIND KUMAR,N.KUMAR

147 deals with income escaping assessment. Chapter XXI deals with penalties imposable. 37 Section 271 deals with failure to furnish returns, comply with notices, concealment of income, etc., It reads as under:- “271. FAILURE TO FURNISH RETURNS, COMPLY WITH NOTICES, CONCEALMENT OF INCOME, ETC. (1) If the Assessing Officer or the Commissioner (Appeals) in the course of any proceedings under