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1 - 10 of 20 (0.22 seconds)Section 148 in The Income Tax Act, 1961 [Entire Act]
Honda Siel Power Products Ltd. vs Deputy Commissioner Of Income-Tax on 24 March, 2000
The
Court has considered the meaning of this phrase in Honda Siel Power Products
Ltd. v. Dy. CIT [2012] 340 ITR 53/[2011] 197 Taxman 415/10 taxmann.com 2
(Delhi) where the Court held that that the term 'failure' on the part of the
assessee is not restricted to the return and the columns of the return or the tax
audit report. There can be omission and failure on the part of the assessee to
disclose material facts fairly and truly during the course of the assessment
proceedings. [Para 42]
Section 35 in The Income Tax Act, 1961 [Entire Act]
M/S. New Delhi Television Ltd., New ... vs Dcit, New Delhi on 14 July, 2017
16. PranawaLeafin (P.) Ltd. Vs DCIT [2013] 33 taxmann.com 454
(Bombay)/[2013] 215 Taxman 109 (Bombay)(MAG.)(Copy enclosed)
where Hon'ble Bombay High Court held that where there was failure on part of
assessee to make true and complete disclosure in respect of share transactions
entered into by it, in view of proviso to section 147, Assessing Officer was
justified in initiating reassessment proceedings even after expiry of four years
from end of relevant assessment year
Commissioner Of Income Tax vs M/S Rashtradoot (Huf) on 27 February, 2019
17. CIT Vs KiranbhaiJamnadasSheth (HUF)[2013] 39 taxmann.com 116
(Gujarat)/[2014] 221 Taxman 19 (Gujarat)(MAG.) (Copy enclosed)
where Hon'ble Gujarat High Court held that Assessment without scrutiny would
mandate reassessment beyond 4 years even if assessee made true disclosure
M/S. Dishman Pharmaceuticals & ... vs The Acit, (Osd),Range-1,, Ahmedabad on 20 June, 2018
18. Dishman Pharmaceuticals & Chemicals Ltd. Vs CIT[2012] 346 ITR 228 (Guj)
(Copy enclosed)
The assessee had shown an amount as loan from company. The assessee had
not disclosed that it had substantial interest in the company. Reassessment
7 ITA No. /Del/2018
proceedings after four years to assess amount as deemed dividend was held to
be valid.
Dcit, New Delhi vs M/S. Unitech Ltd., New Delhi on 27 June, 2018
There is no finding by the Assessing Officer that there is any failure on
the part of the assessee to make a full and true disclosure of any
material fact and therefore on these fact, the Hon'ble Jurisdictional High
Court in the case of HCL Technologies Limited (supra) as well as Unitech
Limited (supra) would be squarely applicable.
Agilent Technologies (International) ... vs Dcit, Gurgaon on 12 February, 2018
11. After considering the above facts and also relying upon the decision
of Hon'ble Jurisdictional High Court in the case of Unitech Limited and
also in HCL Technologies Limited (supra), we quash the notice issued for
reopening of assessment under section 148.