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1 - 10 of 52 (0.33 seconds)Section 147 in The Income Tax Act, 1961 [Entire Act]
Section 45 in The Income Tax Act, 1961 [Entire Act]
Section 24 in The Income Tax Act, 1961 [Entire Act]
Section 143 in The Income Tax Act, 1961 [Entire Act]
Commnr. Of Income Tax, Delhi vs M/S. Kelvinator Of India Ltd on 18 January, 2010
The copy exhibiting the retirement was duly
submitted to the Assessing Officer before scrutinizing return and thus there
is no new information came to the notice of the Assessing Officer. The
details with regard to the claim of deduction in respect of interest expenses
on borrowed capital used for the purpose of the construction under sec. 24 of
the Act was duly made in the return and it was verified by the Assessing
Officer under sec. 143(3) of the Act. All these facts would indicate that no
fresh material came to the possession of the Assessing Officer which can
empower him to reopen the assessment. According to the Full Bench
decision of the Hon'ble Delhi High Court in the case of CIT vs. Kelvinator,
if a scrutiny assessment was made under sec. 143(3) then it will be presumed
that such an order has been passed on application of mind, after going
through all these details. Thus, on the basis of those very information,
Assessing Officer cannot reopen the assessment. For buttressing his
contentions, he relied upon the following decisions:
Section 154 in The Income Tax Act, 1961 [Entire Act]
Section 153 in The Income Tax Act, 1961 [Entire Act]
Assistant Commissioner Of Income Tax vs Eicher Ltd. on 27 January, 2006
h. CIT vs. Eicher Ltd. (Delhi High Court) reported in 239 CTR
65; and
i. Jai Hotels Co. LTd. Vs. ADIT (Delhi High Court) reported in
24 DTR 37.