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DATE: January 2, 2015 (Date of pronouncement)
DATE: February 13, 2015 (Date of publication)
AY: 2003-04
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S. 147/151: Non-mentioning in the reasons that approval has been obtained from the CIT vitiates the reopening

Another major discrepancy noticed during the course of arguments is that there is no mention of authorization of a higher authority to initiate the current reassessment proceedings. Since there is no mention of the approval sought from the CIT on the reasons, as recorded by the AO to initiate reassessment proceedings, the entire initiation has been vitiated and become bad in law

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DATE: January 19, 2015 (Date of pronouncement)
DATE: January 21, 2015 (Date of publication)
AY: 2003-04
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S. 147: Assessment cannot be reopened in the absence of "fresh material"

The order passed by the assessing authority extracted above unmistakably shows that even at that stage it had no fresh material available to it so as to exercise the jurisdiction available under Sections 147/148 of Income Tax Act. It was, thus, taking a fresh call on the subject of assessment of income (i.e. re-assessment), drawing conclusions and inferences from the same very material that had been scrutinized in the original assessment proceedings

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DATE: June 17, 2014 (Date of pronouncement)
DATE: December 4, 2014 (Date of publication)
AY: 1998-99
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S. 147: The words “failure to disclose material facts" is not a magician's mantra & the failure to use those words will not by itself oust jurisdiction to reassess if the reasons as a whole implies a failure to disclose material facts

(i) We are of the view that the words “failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment” is not a magician’s mantra which alone would give jurisdiction to reopen an …

Allanasons Limited vs. DCIT (Bombay High Court) Read More »

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DATE: June 18, 2014 (Date of pronouncement)
DATE: December 4, 2014 (Date of publication)
AY: 2005-06
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S. 147: A writ petition is not like an appeal where the assessee has a statutory right to require the Court to entertain the challenge. A writ will be maintained only if the notice is clearly without jurisdiction & not otherwise

We would exercise our writ jurisdiction to interdict a proceeding under Section 148 of the Act seeking to reopen an assessment only when the same is clearly without jurisdiction and not otherwise as a matter of self restraint. We are …

Nickunj Eximp Enterprises Pvt. Ltd vs. ACIT (Bombay High Court) Read More »

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DATE: August 11, 2014 (Date of pronouncement)
DATE: December 4, 2014 (Date of publication)
AY: 1993-94
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S. 147/ 150(1): A "finding" is one that is necessary for the disposal of an appeal in respect of an assessment of a particular year

The issue for our examination is whether there is any finding in the order of the Tribunal which is being given effect to and/or as consequence thereof, the impugned notice has been issued. It is only when the answer to …

Eskay K’n’ IT (India) Ltd vs. DCIT (Bombay High Court) Read More »

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DATE: November 25, 2014 (Date of pronouncement)
DATE: December 3, 2014 (Date of publication)
AY: 2007-08
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S. 147: After the expiry of the time limit for issue of s. 143(2) notice, the AO has no jurisdiction to make a reference to the TPO. The TPO's report cannot form the basis for reopening the assessment

The assessee filed the return of income of 29th October 2007, and that the time limit for issuance of notice, under section 143(2), selecting the case for scrutiny assessment expired on 30th September 2008. It is also an admitted position …

EXL India Business Services Pvt Ltd vs. ACIT (ITAT Delhi) Read More »

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DATE: November 14, 2014 (Date of pronouncement)
DATE: December 2, 2014 (Date of publication)
AY: 2000-01
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S. 147/ 151: Reopening mechanically on the basis of material received from another AO is bad. Merely noting "approved" without recording satisfaction is bad

(i) A perusal of the above demonstrates that the AO has not applied his mind so as to come to an independent conclusion that he has reason to believe that the income has escaped assessment during the year. A mere …

ITO vs. M. B. Jewellers P. Ltd (ITAT Delhi) Read More »

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DATE: October 22, 2014 (Date of pronouncement)
DATE: November 7, 2014 (Date of publication)
AY: 2001-02
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S. 147/ 151: Sanction by the CIT with word "approved" without recording satisfaction note renders reopening invalid

(i) A simple reading of the provisions of Sec. 151(1) with the proviso clearly show that no such notice shall be issued unless the Commissioner is satisfied on the reasons recorded by the AO that it is a fit case …

ITO vs. N. C. Cables Ltd (ITAT Delhi) Read More »

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DATE: October 31, 2014 (Date of pronouncement)
DATE: November 7, 2014 (Date of publication)
AY: 2004-05
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S. 147 Reopening solely on the basis of information received from the investigation wing & without independent application of mind is void

The AO proceeded to initiate proceedings u/s 147 of the Act and to issue notice u/s 148 of the Act on the basis of information received from Investigation Wing of the department in the form of a CD prepared by …

ACIT vs. Devesh Kumar (ITAT Delhi) Read More »

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DATE: October 31, 2014 (Date of pronouncement)
DATE: November 3, 2014 (Date of publication)
AY: 2006-07
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S. 147: Reopening on the possibility that the assessee AOP may or may not be a taxable unit is based on surmise and presumption & is invalid

(i) The assessee is a FUND and a resident of Denmark. Along with its return of income, in India, the assessee had submitted ‘Tax Residency Certificate’ issued by the Danish Authorities in order to claim the benefit of Article 14 …

Investeringsforeningen BankInvest vs. DDIT (ITAT Mumbai) Read More »