K.M. SHARMA vs. INCOME TAX OFFICER, WARD 13(7),NEW DELHI

The appeal is allowed

reassessment could not be issued against a person deemed to be an agent of a non-resident under Section 43, after the expiry of one year from the end of the year of assessment. The Section was amended by Section 18 of the Finance Act, 1956, extending this period of limitation to two years from the end of the assessment

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

The appeals are allowed

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

reassessment or recomputation, as the case may be, ends before the end of the month, such period shall be extended to the end of such month. Explanation 2.—For the purposes of this section, where, by an order referred to in clause (i) of sub-section (6),— (a) any income is excluded from the total income of the assessee

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

KOTAK MAHINDRA BANK LIMITED vs. COMMISSIONER OF INCOME TAX BANGALORE

The appeal is allowed

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

43:20 IST Reason: Signature Not Verified 2 registered office is located. Apart from the business of banking, the appellant also carries out leasing business on receiving approval from the Reserve Bank of India (hereinafter “RBI” for short) vide Circular dated 19.02.1994. Thus, the appellant derives its income, inter alia, from banking activities as well as from leasing transactions

INCOME TAX OFFICER vs. VIKRAM SUJITKUMAR BHATIA

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

reassess income of such other person in accordance with the provisions of Section 153A. It also further provided that in case of such other person, the reference to the date of initiation of the search under Section 132 or making of requisition under Section 132-A in the second proviso to sub-section (1) of Section 153-A shall

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

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

1,14,43,051 + 68,30,270 + 3,83,925). Under assessment of income for the three years is, therefore, Rs.1,69,92,728 i.e., (18657246 – 1664518). The sales estimated by AO for each of the 3 years less depreciation for each year is taken as the basis for determining the proportion in which the under- assessment has been made

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

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

43 of 161 “86. In the Customs Act, 1962 (52 of 1962), (hereinafter referred to as the Customs Act), in section 2, in clause (34), after the words "Principal Commissioner of Customs or Commissioner of Customs", the words and figure "under section 5" shall be inserted.” Section 87 - Substitution of new section for section

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 INCOME TAX 14 vs. JASJIT SINGH

The appeals are dismissed in terms of signed

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT

43 IST Reason: Signature Not Verified Section 260A of the Income Tax Act, 1961 (hereinafter referred to as ‘IT Act’). Though the facts in each appeal differ, substantially for the purposes of clarity and completeness the facts in the appeal arising from SLP (C) No.6644 of 2016 are taken into account. The facts are that search and seizure proceedings 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

COMMNR. OF CUSTOMS (GENERAL), N. DELHI vs. GUJARAT PERSTORP ELECTRONICS LTD

The appeals are allowed

reassessment under Chapter Heading 4911. According to him, at any rate, the entire value for the consignment which came under Air Way Bill was of Rs. 63.11 lacs (approx) as per Invoice Nos. 1836-02A and 1836-92B dated December 22, 1993 which could not be taken as value of drawings for the reason that the consideration

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

PLASTIBLENDS INDIA LIMITED THROUGH ITS CHAIRMAN AND MANAGING DIRECTOR vs. ADDL.COMMISSIONER OF INCOME TAX RANGE 8(2) MUMBAI

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

reassessment proceedings and passed an assessment order under Section 143(3) read with Section 147 computing the gross total income at Rs.34,15,583/-. Though, the assessee had disclaimed deduction in respect of depreciation, the AO allowed deduction on this account as well in respect of the same in the sum of Rs.2,13,89,379/- while computing the profit

COMMISSIONER OF INCOME-TAX(CENTRAL) vs. M/S. GWALIOR RAYON SILK MFG.(WVG.)CO.LTD

The appeal is partly allowed

43 to 1979 WITH C.A. Nos. 1194/77, 2978/89, 5535/90 & 1404 of 1991. S.C. Manchanda, S. Rajappa, Ms. A. Subhashini and K.P. Bhatnagar for the Appellant. Harish N. Salve, S. Kukumaran, Mukul Mudgal, T. Ray, Krishna Kumar, Mrs. P. Madan, N. Talwar, A.D.N. Rao and A.S. Rao for the Respondent. The Judgment of the Court was delivered by K. RAMASWAMY

NEW DELHI TELEVISION LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE L. NAGESWARA RAO

reassessments were not satisfied. The re­assessments were made with reference to clause (b) of Section 147 of the Act, and apparently the Income Tax Officer proceeded on the basis that in consequence of information in his   possession   he   had   reason   to   believe   that   income chargeable   to   tax   had   escaped   assessment   for   the   two assessment years. From the material before

MANSAROVAR COMMERCIAL PVT. LTD. vs. COMMISSIONER OF INCOME TAX DELHI

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

43 of 67 management was only in Sikkim and the income had accrued only in Sikkim. 6.1 While reversing the finding of the AO on whether the commission was not earned in Gangtok, though the AO found that the notices were sent to those who had allegedly paid the commission to the assessees and the summons under Section