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Goutam Ghosh, Howrah vs P.C.I.T., Kolkata - 13, Kolkata on 16 October, 2024 cites

Commr.Of Income Tax,Simla vs M/S Green World Corporation on 6 May, 2009

3.3. In this case, it also deserves to be mentioned that on the very same ground that the ld. Pr. CIT has invoked the provisions of Section u/s 263 of the Act, the ld. AO had also enquired and apparently been satisfied by the assessee's contention. Thus, the ld. Pr. CIT is seen to have taken an adverse note of the JDA in as much as income has been determined in the assessment year under consideration, whereas the ld. AO had been convinced by the bona fide of the assessee's arguments before him and not taken any adverse view in this very same matter. Right at the outset, this case would be decided in favour of the appellant following the case of CIT vs. Greenworld Corporation reported in [2009] 314 ITR 81 (SC). However, a more compelling reason to decide the issued in favour of the appellant would be the provisions of Section 45(5A) of the Act, which was brought into the statute books by the Finance Act, 2017 to hold as under:
Supreme Court of India Cites 81 - Cited by 131 - S B Sinha - Full Document

M/S Rani Sati Agro Tech Pvt. Ltd., ... vs Ito, Ward-12(3), Kolkata on 19 June, 2023

3.1. For this understanding strength is drawn from the order of a Coordinate Bench of ITAT Kolkata in the case of M/s. Rani Sati Agro Tech Pvt. Ltd. vs. ITO in ITA No. 85/Kol/2022 order dated 19.06.2023, in which while analysing the provisions of Section 263 of the Act various case laws have been considered. The relevant part of the order of the Coordinate Bench of the Tribunal is reproduced as under for drawing a valid reference:
Income Tax Appellate Tribunal - Kolkata Cites 38 - Cited by 0 - Full Document
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