Search Results For: 148


COURT:
CORAM: ,
SECTION(S): , ,
GENRE:
CATCH WORDS:
COUNSEL: ,
DATE: January 28, 2015 (Date of pronouncement)
DATE: February 24, 2015 (Date of publication)
AY: 2005-06
FILE: Click here to view full post with file download link
CITATION:
S. 147: S. 143(3) assessment order is not a scrap of paper & AO is expected to have applied his mind. Reopening on ground of "oversight, inadvertence or mistake" is not permissible

The argument that the AO has been careless in bringing to tax a particular amount which is chargeable to tax and that the Revenue should not be precluded from issuing notice u/s 148 overlooks the fact that power to reopen is not a power to review an assessment order. At the time of passing assessment order, it expected of the AO that he will apply mind and pass an order. An assessment order is not a mere scrap of paper. To accept the submission of the department would mean to negate the well settled position in law as stated by the Supreme Court in CIT Vs. Kelvinator of India Ltd 256 ITR 1 (Delhi)(FB) that the concept of ‘change of opinion’ brought in so as to have in built test to check abuse of power

COURT:
CORAM: , ,
SECTION(S): ,
GENRE:
CATCH WORDS:
COUNSEL:
DATE: July 20, 2012 (Date of pronouncement)
DATE: February 19, 2015 (Date of publication)
AY: 2004-05
FILE: Click here to view full post with file download link
CITATION:
S. 147: Verdict of Bombay High Court in The Indian Hume Pipe Co Ltd vs. ACIT 348 ITR 439 that “full & true disclosure of material facts” means “specific” disclosure of “each” fact nullified

We make it clear, that on the validity of Notice under Section 148 of the Income Tax Act, 1961, it would be open to the assessee as well as the Department to put forth their respective contentions before the Appellate Authority and the Appellate Authority will decide this issue also along with other issues without being influenced by the observations made by the High Court in the impugned order

COURT:
CORAM: ,
SECTION(S):
GENRE:
CATCH WORDS: ,
COUNSEL:
DATE: October 29, 2014 (Date of pronouncement)
DATE: December 5, 2014 (Date of publication)
AY: -
FILE: Click here to view full post with file download link
CITATION:
Issue of notice straightaway through affixture is not proper & renders proceedings void. On the expiry of the limitation period valuable rights accrue to the assessee

(i) The Tribunal took note of the fact that (a) the issuance of a notice straight away through affixture is not proper; (b) no efforts were made to send the notices to the partners through registered post with acknowledge due; …

CIT vs. Godavari Electrical Conductors (Andhra Pradesh High Court) Read More »

COURT:
CORAM: ,
SECTION(S): ,
GENRE:
CATCH WORDS: ,
COUNSEL: , ,
DATE: June 18, 2014 (Date of pronouncement)
DATE: December 4, 2014 (Date of publication)
AY: 2005-06
FILE: Click here to view full post with file download link
CITATION:
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 »

COURT:
CORAM: ,
SECTION(S): ,
GENRE:
CATCH WORDS: ,
COUNSEL:
DATE: October 31, 2014 (Date of pronouncement)
DATE: November 7, 2014 (Date of publication)
AY: 2004-05
FILE: Click here to view full post with file download link
CITATION:
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 »

COURT:
CORAM: ,
SECTION(S): ,
GENRE: ,
CATCH WORDS:
COUNSEL:
DATE: October 31, 2014 (Date of pronouncement)
DATE: November 3, 2014 (Date of publication)
AY: 2006-07
FILE: Click here to view full post with file download link
CITATION:
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 »

COURT:
CORAM: ,
SECTION(S): ,
GENRE:
CATCH WORDS: , ,
COUNSEL:
DATE: October 17, 2014 (Date of pronouncement)
DATE: October 24, 2014 (Date of publication)
AY: 2006-07
FILE: Click here to view full post with file download link
CITATION:
S. 147: The reasons must specifically indicate as to which material fact was not disclosed by the petitioner in the course of its original assessment

In the reasons supplied to the petitioner, there is no whisper, what to speak of any allegation, that the petitioner had failed to disclose fully and truly all material facts necessary for assessment and that because of this failure there …

Global Signal Cables (I) Pvt. Ltd vs. DCIT (Delhi High Court) Read More »

COURT:
CORAM: ,
SECTION(S): ,
GENRE:
CATCH WORDS: , ,
COUNSEL:
DATE: October 14, 2014 (Date of pronouncement)
DATE: October 21, 2014 (Date of publication)
AY: 2007-08
FILE: Click here to view full post with file download link
CITATION:
Failure to record detailed reasons in assessment order does justifying s. 147 action. There is a statutory presumption that AO has applied his mind while passing assessment order

Section 147 of the Act, as substituted w.e.f. 01.04.1989 does not postulates conferment of power upon the AO to initiate reassessment proceeding upon his mere change of opinion. Further, if ‘reason to believe’ of the AO is founded on an …

Munshi Mini Rice Mill vs. ITO (ITAT Kolkata) Read More »

COURT:
CORAM: ,
SECTION(S): ,
GENRE:
CATCH WORDS: ,
COUNSEL:
DATE: July 30, 2014 (Date of pronouncement)
DATE: October 15, 2014 (Date of publication)
AY: 2009-2010
FILE: Click here to view full post with file download link
CITATION:
S. 147: If AO contests the audit objection but still reopens to comply with the audit objection, it means he has not applied his mind independently and the reopening is void

To satisfy ourselves, whether the reassessment proceedings have been initiated at the instance of the audit party and solely on the ground of audit objections ….. On a perusal of the files, the noting made therein and the relevant documents, …

Raajratna Metal Industries Ltd vs. ACIT (Gujarat High Court) Read More »

COURT:
CORAM: ,
SECTION(S): , , ,
GENRE:
CATCH WORDS: , ,
COUNSEL:
DATE: September 18, 2014 (Date of pronouncement)
DATE: October 5, 2014 (Date of publication)
AY:
FILE: Click here to view full post with file download link
CITATION:
Reopening of s. 143(1) assessment on the basis of the retrospective amendment of section 80HHC of the Act by the Taxation Law (Amendment) Act, 2005 is bad as the said amendment is struck doen in Avani Exports vs. CIT (Guj HC)

We find force in the contentions of the Revenue as the assessment order which was sought to be reopened by the Assessing Officer was only an intimation under section 143(1) of the Act and not a regular assessment under section …

ACIT vs. M/s Northern Tannery (ITAT Lucknow) Read More »