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1 - 10 of 31 (0.44 seconds)Section 147 in The Income Tax Act, 1961 [Entire Act]
Section 53A in The Transfer Of Property Act, 1882 [Entire Act]
Commnr. Of Income Tax, Delhi vs M/S. Kelvinator Of India Ltd on 18 January, 2010
The Third
Member then referred to the decision of Hon'ble
Supreme Court in the case of CIT vs. Kelvinator of India
(supra) wherein it was held that there should be
"tangible material" to come to the conclusion that
income had escaped assessment. Relying on the said
decision, it was held by the Third Member that while
resorting to section 147 even in a case where only an
intimation had been issued u/s 143(1)(a), it is essential
that the Assessing Officer should have before him
tangible material justifying his reason to believe that
income had escaped assessment. Since there was no
such tangible material before the AO from which he
could entertain the belief that income of the assessee
chargeable to tax had escaped assessment, the Third
Member held that reassessment proceedings initiated
by the Assessing Officer were liable to be quashed on
the ground that there was no tangible material before
the Assessing Officer even though the assessment was
completed originally u/s 143(1).
Section 143 in The Income Tax Act, 1961 [Entire Act]
Chaturbhuj Dwarkadas Kapadia vs Commissioner Of Income-Tax on 13 February, 2003
In order to invoke the principles laid down by the Hon'ble
Bombay High Court in the case of Chaturbhuj Dwarkadas Kapadia
(supra), it is, therefore, necessary to demonstrate that the
conditions under Section 53A of the Transfer of Property Act are
satisfied. This section is reproduced below for ready reference: