KOTAK MAHINDRA BANK LIMITED,MUMBAI vs. DCIT 2(3)(1), MUMBAI

In the result, all the grounds of appeal of assessee is allowed

Bench: Shri Pawan Singh& Smt.Renu Jauhri

reassessment made under section 147, either originally or in consequences of appellate order with a view to giving effect to the direction contained therein, objecting to the amount of interest payable by the government u/s 244A

KOTAK MAHINDRA BANK LIMITED,MUMBAI vs. DCIT 2(3)(1), MUMBAI

In the result, all the grounds of appeal of assessee is allowed

Bench: Shri Pawan Singh& Smt.Renu Jauhri

reassessment made under section 147, either originally or in consequences of appellate order with a view to giving effect to the direction contained therein, objecting to the amount of interest payable by the government u/s 244A

KOTAK MAHINDRA BANK LIMITED,MUMBAI vs. DCIT 2(3)(1), MUMBAI

In the result, all the grounds of appeal of assessee is allowed

Bench: Shri Pawan Singh& Smt.Renu Jauhri

reassessment made under section 147, either originally or in consequences of appellate order with a view to giving effect to the direction contained therein, objecting to the amount of interest payable by the government u/s 244A

KOTAK MAHINDRA BANK LIMITED,MUMBAI vs. DCIT 2(3)(1), MUMBAI

In the result, all the grounds of appeal of assessee is allowed

Bench: Shri Pawan Singh& Smt.Renu Jauhri

reassessment made under section 147, either originally or in consequences of appellate order with a view to giving effect to the direction contained therein, objecting to the amount of interest payable by the government u/s 244A

KOTAK MAHINDRA BANK LIMITED,MUMBAI vs. DCIT 2(3)(1), MUMBAI

In the result, all the grounds of appeal of assessee is allowed

Bench: Shri Pawan Singh& Smt.Renu Jauhri

reassessment made under section 147, either originally or in consequences of appellate order with a view to giving effect to the direction contained therein, objecting to the amount of interest payable by the government u/s 244A

KOTAK MAHINDRA BANK LIMITED,MUMBAI vs. DCIT 2 3 1, MUMBAI

In the result, all the grounds of appeal of assessee is allowed

Bench: Shri Pawan Singh& Smt.Renu Jauhri

reassessment made under section 147, either originally or in consequences of appellate order with a view to giving effect to the direction contained therein, objecting to the amount of interest payable by the government u/s 244A

UNION BANK OF INDIA,MUMBAI vs. DCIT (LTU) 2, MUMBAI

In the result, appeal of the Revenue is partly allowed for statistical purpose

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

section 140A(1), then justice, fairness, equity and good conscience demands that same method should be followed while making adjustment for refund of taxes, especially when no contrary provision has been provided. Under these circumstances and aforesaid discussion, we find that the judicial proprietary demands that order of the Tribunal of earlier years must be followed and therefore we direct

UNION BANK OF INDIA,MUMBAI vs. DCIT (LTU) 2, MUMBAI

In the result, appeal of the Revenue is partly allowed for statistical purpose

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

section 140A(1), then justice, fairness, equity and good conscience demands that same method should be followed while making adjustment for refund of taxes, especially when no contrary provision has been provided. Under these circumstances and aforesaid discussion, we find that the judicial proprietary demands that order of the Tribunal of earlier years must be followed and therefore we direct

UNION BANK OF INDIA,MUMBAI vs. DCIT (LTU) 2, MUMBAI

In the result, appeal of the Revenue is partly allowed for statistical purpose

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

section 140A(1), then justice, fairness, equity and good conscience demands that same method should be followed while making adjustment for refund of taxes, especially when no contrary provision has been provided. Under these circumstances and aforesaid discussion, we find that the judicial proprietary demands that order of the Tribunal of earlier years must be followed and therefore we direct

DCIT (LTU) 2, MUMBAI vs. UNION BANK OF INDIA, MUMBAI

In the result, appeal of the Revenue is partly allowed for statistical purpose

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

section 140A(1), then justice, fairness, equity and good conscience demands that same method should be followed while making adjustment for refund of taxes, especially when no contrary provision has been provided. Under these circumstances and aforesaid discussion, we find that the judicial proprietary demands that order of the Tribunal of earlier years must be followed and therefore we direct

DCIT (LTU) 2, MUMBAI vs. UNION BANK OF INDIA, MUMBAI

In the result, appeal of the Revenue is partly allowed for statistical purpose

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

section 140A(1), then justice, fairness, equity and good conscience demands that same method should be followed while making adjustment for refund of taxes, especially when no contrary provision has been provided. Under these circumstances and aforesaid discussion, we find that the judicial proprietary demands that order of the Tribunal of earlier years must be followed and therefore we direct

DCIT (LTU) 2, MUMBAI vs. UNION BANK OF INDIA, MUMBAI

In the result, appeal of the Revenue is partly allowed for statistical purpose

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

section 140A(1), then justice, fairness, equity and good conscience demands that same method should be followed while making adjustment for refund of taxes, especially when no contrary provision has been provided. Under these circumstances and aforesaid discussion, we find that the judicial proprietary demands that order of the Tribunal of earlier years must be followed and therefore we direct

DCIT (LTU) 2, MUMBAI vs. UNION BANK OF INDIA, MUMBAI

In the result, appeal of the Revenue is partly allowed for statistical purpose

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

section 140A(1), then justice, fairness, equity and good conscience demands that same method should be followed while making adjustment for refund of taxes, especially when no contrary provision has been provided. Under these circumstances and aforesaid discussion, we find that the judicial proprietary demands that order of the Tribunal of earlier years must be followed and therefore we direct

M/S WF ASIAN SMALLER COMPANIES FUND LIMITED,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX INTERNATIONAL TAXATION CIRCLE 4(3)(2), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.459/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14) M/S. Wf Asian Smaller बिधम/ Acit, Circle-4(3)(2) Companies Fund Ltd Room No. 1611, 16Th Vs. C/O Ankul Goyal, Azb & Floor, Air India Building, Partners A8, Sector-4, Nariman Point, Mumbai- Noida 201301. 400021. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaacw5648R (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Deepak Chopra/Ankul Goyal Revenue By: Shri Soumedu Kumar Dash (Sr. Dr) सुनवाई की तारीख / Date Of Hearing: 28/03/2023 घोषणा की तारीख /Date Of Pronouncement: 23/06/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Against The Order Passed By The Ao Dated 19.01.2023 U/S 147 R.W.S 144C(13) Of The Income Tax Act, 1961 (Hereinafter “The Act”) Pursuant To The Direction Issued By The Ld. Dispute Resolution Panel (Drp) For Ay. 2013-14. 2. The Assessee Has Raised The Legal Issue Challenging The Action Of The Ao To Have Reopened The Original-Scrutiny-Assessment U/S 143(3) Of The Act, After Four (4) Years [From The End Of The Relevant Assessment Year] Without Satisfying The Additional Condition Precedent As Prescribed In The Proviso To Section 147(1) Of The Act. Since The Assessee Has Raised The Legal Issue Assailing The Jurisdiction Of Ao To Have Issued Notice U/S 148 Of The Act, Proposing Re-Opening Of The Original Assessment [Framed Under Scrutiny Under Section 143(3) Of The Act], We Will Adjudicate It First. For Appreciating The Legal Issue, Let Us

reassess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections

DCIT 6(2)(1), MUMBAI vs. CEAT LTD, MUMBAI

In the result, appeal of the assessee is allowed, and departmental appeal is treated as infructuous

Bench: Shri Shamim Yahya, Am & Shri Pavan Kumar Gadale, Jm Dcit-6(2)(1) M/S. Ceat Ltd. Room No.563, Aaykar Bhawan Rpg House, 463 M.K.Road, Churchgate Vs. Dr. Annie Besant Road, Worli Mumbai-400 020 Mumbai-400 030

reassessment. Where, however the Income Tax Officer had not considered the material and subsequently came by the material from the record itself, the such a case would fall within the scope of section 147 (b) of the Act” (emphasis supplied)”. 26. In light of our above discussion, the reopening of the assessment on above reasons

VODAFONE INDIA LTD,MUMBAI vs. ASST CIT 8(3)(2), MUMBAI

section 292B of the Act,he stated that even if two orders were to be passed, the mistake was covered by the said section.With regard to interest charged u/s.220(2),he stated that refund for the AY. 2011-12 was adjusted in time,that the assessee was getting interest u/s. 244A,that the charging of interest was justified. With regard

ITO-28(3)(1), MUMBAI, MUMBAI vs. SATYA PRAKASH SINGH, MUMBAI

In the result, the ground so taken by the assessee so far as it relates to challenging the order of the AO as passed beyond the period of limitation is hereby allowed

Bench: Justice (Retd.) Shri C.V. Bhadang & Shri Vikram Singh Yadav

u/s 147 r/w 143(3) of the Act vide order dated 23-06-2022. The statue provides for time limit for completion of such reassessment proceedings and such an order passed by the Assessing officer has to necessarily comply with the time limits so specified. 13. The relevant provisions dealing with time limit for completion of assessment and reassessment proceedings

MR. SATYA PRAKASH SINGH,MUMBAI vs. ITO, WARD-28(3)(1), VASHI

In the result, the ground so taken by the assessee so far as it relates to challenging the order of the AO as passed beyond the period of limitation is hereby allowed

Bench: Justice (Retd.) Shri C.V. Bhadang & Shri Vikram Singh Yadav

u/s 147 r/w 143(3) of the Act vide order dated 23-06-2022. The statue provides for time limit for completion of such reassessment proceedings and such an order passed by the Assessing officer has to necessarily comply with the time limits so specified. 13. The relevant provisions dealing with time limit for completion of assessment and reassessment proceedings