Section 153(5) of the Income Tax Act

Income-tax Act, 2025: s.286

Section 153(5) falls under section 153 of the Income-tax Act, 1961, which corresponds to section 286 (Time limit for completion of assessment, reassessment and recomputation) of the Income-tax Act, 2025.

Read section 286 of the 2025 Act

Correspondence checked against the ICAI tabular mapping of the two Acts and the BharatTax.co section commentary.

The decision most relied on for Section 153(5) is Stock Holding Corporation of India Ltd. v. CIT (53 Taxmann.com 106), cited in 13 of the 52 judgments on BharatTax that turn on this section.

Leading authorities on Section 153(5)

Stock Holding Corporation of India Ltd. v. CIT
53 Taxmann.com 106 · 2015 · High Court
13
citing judgments

Tax paid on self-assessment falls under the residuary clause of Section 244A(1)(b) for refund interest, payable from the date of self-assessment tax payment until the refund date.

CIT, LTU v. Union Bank of India
263 Taxmann 685 · 2019 · High Court
10
citing judgments

Section 115JB of the Income Tax Act does not apply to banking companies governed by the Banking Regulation Act, 1949, prior to the amendment made by the Finance Act, 2012. This is because such companies were not subject to the provisions of Section 115JB before this amendment.

Caltex Oil Refining Ltd. v. CIT
202 ITR 275 · High Court
6
citing judgments
CIT v. Indian Farmer Fertilizer Co-operative
71 Taxmann.com 37 · 2016 · High Court
6
citing judgments

Judgments on Section 153(5)

West Coast Paper Mills Ltd., Mumbai vs. ITO - 1(3)(4), Mumbai

In the result of above discussion keeping in view the provisions of statute and Memorandum to the Finance Bill 2016, we accept the arguments of assessee, and ground no

ITA 305/MUM/2021[2008-09]Status: DisposedITAT Mumbai19 Dec 2022AY 2008-09

Bench: Shri Kuldip Singh & Shri Gagan Goyalwest Cost Paper Mills Ltd., Shree Niwas House, Hazarimal Somani Marg, Fort, Mumbai - 400001. Pan: Aaact4179N ...... Appellant Vs. Ito-1(3) (4), Aayakar Bhavan, M.K. Road, Mumbai - 400020. ..... Respondent Appellant/Assessee By : Sh. Alpesh Dharod & Sh. Tarun Ashok Chopda, Ars Respondent/Revenue By : Sh. Satyapal Kumar- Sr.Dr Date Of Hearing : 21/09/2022 Date Of Pronouncement : 19/12/2022 Order Per Gagan Goyal, A.M: This Appeal By Assessee Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-3, Mumbai [For Short ‘Ld. Cit(A)’] Passed Under Section 244A(1A) Of The Income Tax Act, 1961 [For Short ‘The Act’] Vide Order Dated 29.01.2018 For Assessment Year (Ay) 2008-09. The Assessee Has Raised The Following Grounds Of Appeal:

For Appellant: Sh. Alpesh Dharod &For Respondent: Sh. Satyapal Kumar- Sr.DR
Section 115JSection 143(3)Section 244Section 244ASection 244A(1)Section 24ASection 271(1)(c)

M/S. Mindtree Limited (Successor in Interest to M/S. Aztecsoft Limited), Bengaluru vs. The Joint Commissioner of Income Tax (OSD), Central Circle-1(3), Bangalore

In the result, the appeal filed by the assessee stands allowed on Ground nos

ITA 269/BANG/2021[2006-07]Status: DisposedITAT Bangalore28 Oct 2022AY 2006-07
For Respondent: Shri Tata Krishna
Section 144CSection 147Section 148Section 150(1)Section 153Section 153(5)Section 92CSection 92C(3)Section 92D

Shree Meenawala Casting, Rajkot vs. The PCIT, Rajkot-1, Rajkot, Rajkto

In the result, the appeal of the assessee is allowed

ITA 158/RJT/2022[2017-18]Status: DisposedITAT Rajkot28 Sept 2022AY 2017-18
For Appellant: Shri Mehul Ranpura, A.RFor Respondent: Shri Aarsi Prasad, CIT-D.R
Section 143(3)Section 263

State Bank of India Financial Reporting & Taxation, Mumbai vs. ACIT-2(2)(1), Mumbai

Accordingly, we do not find any merit in the appeal of the revenue, therefore the same is dismissed

ITA 2309/MUM/2019[1996-97]Status: DisposedITAT Mumbai17 Dec 2021AY 1996-97

Bench: Shri Laliet Kumar, Jm & Shri S. Rifaur Rahman, Am आयकरअपील सं./ I.T.A. No. 2309/Mum/2019 (निर्धारणवर्ा / Assessment Year: 1996-97) Acit-2(2)(1), State Bank Of India R. No. 545, Aayakar Financial Reporting & Taxation, 3Rd Floor, बिधम/ Bhavan, M. K. Road, Corporate Centre, Madam Mumbai-400 020 Vs. Cama Road, Nariman Point, Mumbai-400 021 स्थायीलेखासं./जीआइआरसं./ Pan No. Aaacs8577K (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : आयकरअपील सं./ I.T.A. No. 2188/Mum/2019 (निर्धारणवर्ा / Assessment Year: 1996-97) Dcit-2(2)(1), State Bank Of India Financial Reporting & R. No. 545, Aayakar Taxation, 3Rd Floor, बिधम/ Bhavan, M. K. Road, Corporate Centre, Madam Mumbai-400 020 Vs. Cama Road, Nariman Point, Mumbai-400 021 स्थायीलेखासं./जीआइआरसं./ Pan No. Aaacs8577K (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Shri C. Naresh , Ld. Ar प्रत्यथीकीओरसे/Respondent By : Shri Surendra Kumar, Ld. Dr सुनवाईकीतारीख/ : 16.12.2021 Date Of Hearing घोषणाकीतारीख / : 17.12.2021 Date Of Pronouncement

For Appellant: Shri C. Naresh , Ld. ARFor Respondent: Shri Surendra Kumar
Section 153(5)Section 200Section 201Section 244Section 244ASection 35(5)

Wipro Limited vs. The Joint Commissioner of Income Tax

WP/20040/2019HC Karnataka25 Aug 2021

Bench: The Hon’Ble Mr. Justice Krishna S.Dixit Writ Petition No.20040/2019 (T-It) Between:

Section 1Section 143(2)Section 143(3)Section 244ASection 254Section 92C

Tech Mahindra Ltd., Mumbai vs. ACIT, Cir.-2(3)(1), Mumbai

The appeal stands dismissed

ITA 6167/MUM/2018[2013-14]Status: DisposedITAT Mumbai07 Oct 2020AY 2013-14

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode)

For Appellant: Shri J.D. Mistri -Ld.Sr. CounselFor Respondent: Shri R. Manjunatha Swamy-Ld.CIT DR and Shri Vinod Chaudhary (Ld. AO for
Section 115JSection 143(3)Section 153(3)Section 153(5)Section 263Section 90

The ITO, Tirur vs. M/S.Perinthalmanna Service Co-Op Bank Ltd, Malappuram

In the result, the appeals filed by the Revenue and cross objections filed by the assessee are dismissed

ITA 262/COCH/2020[2012-13]Status: DisposedITAT Cochin06 Oct 2020AY 2012-13

Bench: Shri Chandra Poojari, Am & Shri George Mathan, Jm

For Appellant: Sri.Shaji Poulose, CAFor Respondent: Sri.B.Sajjiv, Sr.DR
Section 153(5)

The ITO, Tirur vs. M/S.Perinthalmanna Service Co-Op Bank Ltd, Malappuram

In the result, the appeals filed by the Revenue and cross objections filed by the assessee are dismissed

ITA 261/COCH/2020[2011-12]Status: DisposedITAT Cochin06 Oct 2020AY 2011-12

Bench: Shri Chandra Poojari, Am & Shri George Mathan, Jm

For Appellant: Sri.Shaji Poulose, CAFor Respondent: Sri.B.Sajjiv, Sr.DR
Section 153(5)

The ITO, Tirur vs. M/S.Perinthalmanna Service Co-Op Bank Ltd, Malappuram

In the result, the appeals filed by the Revenue and cross objections filed by the assessee are dismissed

ITA 260/COCH/2020[2010-11]Status: DisposedITAT Cochin06 Oct 2020AY 2010-11

Bench: Shri Chandra Poojari, Am & Shri George Mathan, Jm

For Appellant: Sri.Shaji Poulose, CAFor Respondent: Sri.B.Sajjiv, Sr.DR
Section 153(5)

The ITO, Tirur vs. M/S.Perinthalmanna Service Co-Op Bank Ltd, Malappuram

In the result, the appeals filed by the Revenue and cross objections filed by the assessee are dismissed

ITA 259/COCH/2020[2009-10]Status: DisposedITAT Cochin06 Oct 2020AY 2009-10

Bench: Shri Chandra Poojari, Am & Shri George Mathan, Jm

For Appellant: Sri.Shaji Poulose, CAFor Respondent: Sri.B.Sajjiv, Sr.DR
Section 153(5)

Manoranjan Prusty, Mayurbhanj vs. ITO, Ward-2, Baripada

In the result, appeal of the assessee is partly allowed

ITA 168/CTK/2018[2012-13]Status: DisposedITAT Cuttack23 Aug 2019AY 2012-13

Bench: Shri Chandra Mohan Gargआयकर अऩीऱ सं./Ita No.168/Ctk/2018 (नििाारण वषा / Assessment Year :2010-2011) Manoranjan Prusty, Vs. Ito,Ward-2, Baripada At: Pandalsil, Po:Sukurli Mayurbhanj-757039 स्थायी ऱेखा सं./ जीआइआर सं./ Pan/Gir No. : Aelpp 6109 E (अऩीऱाथी /Appellant) .. (प्रत्यथी / Respondent) यनधागररती की ओर से /Assessee By : Shri D.K.Sheth/M.Sheth, Advocate राजस्व की ओर से /Revenue By : Shri S.M.Kesakamat, Citdr सुनवाई की तारीख / Date Of Hearing : 12/06/2019 घोषणा की तारीख/Date Of Pronouncement 23/08/2019 आदेश / O R D E R This Is An Appeal Filed By The Assessee Against The Order Of Cit, Cuttack, Dated 30.03.2018 Passed U/S.263 Of The Act For The Assessment Year 2010-2011. 2. The Assessee Has Raised The Following Grounds Of Appeal :- 1. For That On The Facts & In The Circumstances Of The Case The Order U/S.263 Of The I. T. Act. As Made By The Principal Commissioner Is Arbitrary , Uncalled For & Unjustified. 2. For That The Learned Commissioner Is Not Justified To Hold That The Order Of The Ao Is Erroneous & Prejudicial To The Interest Of Revenue. 3. For That The Submissions Furnished By The Appellant Should Have Been Appreciated & Accepted By The Learned Commissioner 3. Brief Facts Of The Case Are That The Assessee-Individual Derives Income From Civil Contract Work & Filed Its Return Of Income For The Assessment Year 2012-13, On 17.04.2013 Showing Total Income

For Appellant: Shri D.K.Sheth/M.Sheth, AdvocateFor Respondent: Shri S.M.Kesakamat, CITDR
Section 143(3)Section 145(3)Section 263Section 44A

Sri Salil Punoose vs. The Income Tax Officer (International Taxation)

Appeal is allowed and answered the

WP/42251/2016HC Karnataka25 Aug 2016

Bench: The Hon'Ble Mr.Justice L. Narayana Swamy Writ Petition No.42251 Of 2016 (T-It)

Section 135Section 153(5)Section 244A