M/S POLYFLEX (INDIA) PVT. LTD. vs. COMMISSIONER OF INCOME TAX, KARNATAKA

The appeal is dismissed without costs

41(1) of the Act comes into play and it is not necessary that the Revenue should await the verdict of higher Court or Tribunal. If the Court or Tribunal upholds the levy at a later date, the assessee will not be without remedy to get back the relief. True expenditure and trading liability may be over-lapping concepts

PR. COMMISSIONER OF INCOME TAX CENTRAL 3 vs. ABHISAR BUILDWELL P. LTD

Bench: HON'BLE MR. JUSTICE M.R. SHAH

41 of 59 the jurisdiction of AO to make assessment is confined to incriminating material found during the course of search under Section 132 or requisition under Section 132A or not, i.e., whether any addition can be made by the AO in absence of any incriminating material found during the course of search under section 132 or requisition under Section

MODI INDUSTRIES LIMITED, MODINAGAR vs. COMMISSIONER OF INCOME-TAX, DELHI

The appeals are allowed in the above

41 I.T.R.425). It must be presumed that the Legislature was aware of the wide interpretation of the word ‘assessment’ given under the Indian Income Tax Act. A restricted meaning to the phrase ‘Regular Assessment’ was given in the case of Sarangpur Cotton Manufacturing Co. Ltd. v. Commissioner of http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 24 of 39 Income

ASSOCIATED STONE INDUSTRIES (KOTAH) LTD. vs. COMMISSIONER OF INCOME TAX, RAJASTHAN

The appeal is disposed of as above and the matter is

reassessment proceedings made under Section 34(1)(a) of the Act, for the assessment years 1950-51 to 1956-57, by one consolidated order dated September 7, 1968. the Tribunal held that the proceeding under Section 34 of the Act could not be initiated in view of the decision of the Supreme Court in Calcutta Discount

ASSISTANT COMMISSIONER OF INCOME TAX vs. SHELF DRILLING RON TAPPMEYER LIMITED

The appeals are allowed

Bench: HON'BLE MRS. JUSTICE B.V. NAGARATHNA

reassessment and re-computation under the Act. The sub-section (1) of the said section provides that the time-limit for passing an assessment order under section 143 or 144 of the Act shall be 21 months from the end of the assessment year in which the income was first assessable. However, this time limit had earlier been curtailed

COMMR.OF INCOME TAX,SIMLA vs. M/S GREEN WORLD CORPORATION

Appeals are disposed of with the aforementioned directions

reassessment or recomputation may be taken.” The aforementioned provision although appears to be of a very wide amplitude, but would not mean that recourse to reopening of the proceedings in terms of Sections 147 and 148 of the Act can be initiated at any point of time whatsoever. Such a proceeding can be initiated only within the period of limitation

INCOME TAX OFFICER vs. VIKRAM SUJITKUMAR BHATIA

Bench: HON'BLE MR. JUSTICE M.R. SHAH

reassess total income of such other person of such assessment year in the manner provided in Section 153-A.” 4.1 It is submitted by Shri Nataraj, learned ASG that the amendment in Section 153C was necessitated in view of the observation of the Delhi High Court in the case of Pepsico India Holdings Private Limited Vs. Assistant Commissioner of Income

PRINCIPAL DIRECTOR OF INCOME TAX (INVESTIGATION) vs. LALJIBHAI KANJIBHAI MANDALIA

The appeal is allowed and the order passed by the High

Bench: HON'BLE MR. JUSTICE HEMANT GUPTA

1) of Section 132 of the Act are not satisfied. Since the view of the High Court is based upon established principles of law, no case for interference is made out in the present appeal under Article 136 of the Constitution of India. Mr. Datar referred to the following judgments, namely, Seth Brothers & Ors. etc.; Vindhya Metal Corporation & Ors; Ajit

M/S. MANGALAM PUBLICATIONS, KOTTAYAM vs. COMMISSIONER OF INCOME TAX, KOTTAYAM

Bench: This Court & On Leave Being Granted, Civil Appeals Have Been Registered. 3.

reassessment passed under Section 144/147 of the Act were within limitation. 22.6. Learned counsel has specifically referred to Section 149 of the Act which deals with the time limit for issuance of notice under Section 148 of the Act. Post amendment with effect from 01.04.1989, he submits that under Section 149 (1) (b) (iii), the limitation is, if seven years

CHIEF COMMNR. OF INCOME TAX, COCHIN vs. M/S. KESARIA TEA CO. LTD

1) of the Income-tax Act for the opinion of the High Court: "Whether on the facts and in the circumstances of the case, the Tribunal is right in law and fact in holding that Rs.3,02,758/- cannot be brought to tax and in deleting the addition of Rs.3,02,758/- sustained by CIT (Appeals)?" The High Court accepted

COMMR.OF INCOME TAX-I,NEW DELHI vs. VATIKA TOWNSHIP P.LTD

Appeals of the assessees are allowed deleting the surcharge levied by the

reassessment unless a provision to that effect inserted by amendment is either expressly or by necessary implication retrospective. (See Controller of Estate Duty Gujarat-I v. M.A. Merchant9. We would also like to reproduce hereunder the following observations made by this Court in the case of Govinddas v. Income-tax Officer10, while holding Section 171 (6) of the Income

COMMISSIONER OF CENTRAL EXCISE AND SERVICE TAX NOIDA vs. M/S SANJIVANI NON FERROUS TRADING PVT LTD

The appeals are dismissed in terms of the

Bench: HON'BLE MR. JUSTICE A.K. SIKRI

reassessment was done by increasing the assessable value. 2) In a writ petition filed by the respondent in the High Court of Allahabad, on the directions of the High Court directed the Deputy Commissioner of Customs, NOIDA passed a speaking order dated 25th March, 2015, giving his reasons to reject the transaction value as declared by the respondent and enhancing

COMMISSIONER OF CUSTOMS vs. M/S CANON INDIA PRIVATE LIMITED

Bench: HON'BLE MR. JUSTICE J.B. PARDIWALA

reassessment under Section 17 alone is qualified to become a proper officer under Section 28 for the purpose of raising demand of short levy, non-levy or erroneous refund. No other officer can be assigned the functions of the proper officer under Section 28. (ii) Secondly, the judgment was rendered in connection with officers of the Customs (Preventive), who were

SHITAL FIBERS LTD. vs. COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE ABHAY S. OKA

Reassessment proceedings under Section 147 of the IT Act were initiated in respect of the said Assessment Year by the order dated 10th December 2008 by the Assistant Commissioner of Income-Tax, Range II, Jalandhar. Reliance was placed by the Revenue on the decision of Income Tax Appellate Tribunal (for short ‘ITAT’), Chennai (Special Bench) in the case of ACIT

PARASHURAM POTTERY WORKS CO. LTD. vs. INCOME TAX OFFICER, CIRCLE-1, WARD 'A', RAJKOT,GUJARAT

reassessment, or recompu- tation under section 147, the income Tax Officer shall serve on the assessee a notice containing all or any of the re- quirements which may be included in a notice under section 149(1). The Income Tax Officer has also before issuing such notice to record his reasons for doing so. Section 149 prescribes a time limit

COMMNR.,CENTRAL EXCISE & CUSTOMS, KERALA vs. M/S. LARSEN & TOUBRO LTD

Appeals are disposed of

1) of Section 127-A and the proviso to sub-section (2)(b) should be construed together and the annual letting values of all the buildings owned by a person to be taken together for determining the amount to be paid as tax in respect of each building. In our considered view this position cannot be accepted. The intention

COMMISSIONER OF INCOME TAX 5 MUMBAI vs. M/S. ESSAR TELEHOLDINGS LTD. THROUGH ITS MANAGER

Bench: HON'BLE MR. JUSTICE A.K. SIKRI

reassess under Section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessees under Section 154, for any assessment year beginning on or before 01.04.2001. Thus, all concluded transactions prior to 01.04.2001 were made final and not allowed to be re­opened. 36. The memorandum of explanation explaining

BASHESHAR NATH vs. THE COMMISSIONER OF INCOME-TAX,DELHI & RAJASTHAN & ANOTHER

The appeal is allowed

Section 4 deals with the composition of the Commission, details whereof are unnecessary for our purpose, Sub-sections (1), (2) and (4) of s. 5 are relevant to the problems before us and must be read : " 5(1). The Central Government may at any time before the 1st day of September 1948 refer to the Commission for investigation and report