Search Results Page
Search Results
1 - 10 of 38 (0.91 seconds)
Coffee Day Global Limited, Bengaluru vs Dcit, Central Circle-1(3), Bengaluru, ... on 23 July, 2024
cites
Section 14A in The Income Tax Act, 1961 [Entire Act]
Section 148 in The Income Tax Act, 1961 [Entire Act]
Section 153A in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income Tax - 5 vs M/S Jet Airways (India) Ltd. on 16 November, 2021
In the case of CIT vs Jet Airways (1) Ltd. (2011) 331 ITR 236 the Bombay High
Court has held that "Explanation 3 does not and cannot override the necessity of
fulfilling the conditions set out in. the substantive part of section 147. An
Explanation to a statutory provision is intended to explain its contents and cannot
be construed to override it or render the substance or core nugatory. Section 147
has this effect that the Assessing Officer has to assess or reassess the income
("such income") which escaped assessment and which was the basis of the
formation of belief and if he does so, he can also assess or reassess any other
income which has escaped assessment and which comes to his notice during the
course of the proceedings. However, if after issuing a notice under section 148, he
accepted the contention of the assessee and holds that the income which he has
initially formed a reason to believe had escaped assessment, has as a matter of fact
not escaped assessment. it is not open to him independently to assess some other
income. If he intends to do so, a fresh notice under section 14S would be
ITA Nos.780 to 785/Bang/2024 & CO Nos.15 to 18/Bang/2024
M/s. Coffee Day Enterprises Ltd., Bangalore
ITA Nos.786 to 791/Bang/2024 & CO Nos.19 to 23/Bang/2024
M/s. Coffee Day Global Limited, Bangalore
Page 16 of 26
necessary, the legality of which would be tested in the event of a challenge by the
assessee. "
Ranbaxy Laboratories Ltd., Delhi vs Dcit, New Delhi on 5 September, 2019
Thus, what has been held is that 'such income' in the first part of section 147 is
joined with 'any other income' of the second part of the section by the phrase "and
also" which is used in a "cumulative and conjunctive sense". Following the said
judgment of the Bombay High Court, same view has been taken by the Delhi High
Court in the cases of Ranbaxy Laboratories Ltd. Vs CIT (2011) CIT 336 1TR 136
and CIT Vs Adhanjk Niryat Ispat Ltd. (2011) 63 DTR 212 and also the Gujarat
High Court in the case of CIT Vs Mohmed Juned Dadani (2013) 214 Taxman 38.
With due respect to the view taken in the aforesaid cases, we are unable to
persuade ourselves to follow the same.
The Coinage Act, 2011
The Income Tax Act, 1961
Pr. Commissioner Of Income Tax Central 3 vs Abhisar Buildwell P. Ltd. on 24 April, 2023
(a) Assess income that would
validly be assessed in the
pending proceedings u/s
147, and
Further, assessment for these assessment years to be made on the
basis of seized material found during the course of search as held
by Hon'ble Supreme Court in the case of Pr. Commissioner of
income Tax, Central-3 Vs. Abhisar Buildwell (P) Ltd (2023) cited
(supra).