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Jvr Retails Private Limited , Hyderabad vs Deputy Commissioner Of Income Tax ... on 31 January, 2023 cites

The Commissioner Of Income Tax vs The Atlas Cycle Industries Limited on 20 August, 2010

13.2. Since the facts are totally different as A.O. had reason to believe that Rs.10 lakhs has escaped assessment on account of Rs.5 lakhs received from two companies referred to above, which was ultimately found to be incorrect and nonexistent, therefore, there may not be any application of mind on the part of the A.O. to proceed to initiate the re- assessment proceedings. There is no other material available on record except the information received from the Investigation Wing. The A.O on the basis of the information and material received from Investigation Wing has recorded reasons for reopening of the assessment which was ultimately found to be incorrect and non-existent. It is well settled law that when no new material other than examined by the A.O originally found on record for the purpose of initiating the re-assessment proceedings, the proceedings under section 148 of the I.T. Act would be invalid and bad in law. We rely upon decision of Delhi High Court in the case of Atul Kumar Swamy 362 ITR 693, Consulting Engineers Services India Pvt. Ltd., 378 ITR 318, Nestle India Ltd., 384 ITR 334 and Priyadesh Gupta 385 ITR 452. The Hon'ble Delhi High Court in the case of SNG Developers Ltd., 404 ITR 312 held that when A.O. initiated the re- assessment proceedings without application of mind, such proceedings would be invalid. A.O. in the present case has failed to verify the information received from Investigation Wing. Therefore, it is non-application of mind on the part of the A. O. to record correct facts in the reasons for reopening of the assessment. In such circumstances, the re- assessment order could not be treated as valid and in accordance with law. Since re-assessment proceedings are invalid and bad in law, therefore, such proceedings could not be revised under section 263 of the IT. Act. Following the reasons for decision in the case of M/s. Supersonic Technologies Pvt.Ltd.(supra), we set aside the order passed by the ld.Pr.CIT under section 263 of the I.T.Act and quash the same.
Punjab-Haryana High Court Cites 12 - Cited by 99 - A K Goel - Full Document

M/S. The Malabar Industrial Co. Ltd vs Commissioner Of Income-Tax, Kerala ... on 10 February, 2000

the twin conditions namely the order is erroneous and the order is prejudicial to the interest of the revenue are not satisfied. Therefore, in view of the decision of Hon'ble Supreme Court in the case of Malabar Industrial Co. Ltd vs. CIT reported in 243 ITR 83, the order cannot be revised u/s. 263 of the I.T.Act in absence of fulfillment of the twin conditions.
Supreme Court of India Cites 12 - Cited by 2080 - S S Quadri - Full Document
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