Case Laws Analysis
Relied on Asstt. CIT v. Goldmohur Design & Apparel Park Ltd. 2018 TaxPub(DT) 5554 (Mum-Trib)
Followed on Tidewater Marine International Inc. v. Dy. DIT 2018 TaxPub(DT) 2241 (Uttarakhand-HC)
Case Review on Dolphin Drilling Ltd. v. Asstt. DIT 2017 TaxPub(DT) 5239 (Uttarakhand-HC)
Followed on Bharat Sanchar Nigam Ltd. v. Addl. CIT 2017 TaxPub(DT) 4621 (Del-Trib)
Followed on CIT v. Maithan International 2015 TaxPub(DT) 2020 (Cal-HC)
Relied on Konthiyaparambil Coir Rubber Products v. ITO 2015 TaxPub(DT) 1197 (Coch-Trib)
Followed on Dy. CIT v. I P Rings Ltd. 2013 TaxPub(DT) 1370 (Chen-Trib)
Applied on Dy. CIT v. I P Rings Ltd. 2013 TaxPub(DT) 1370 (Chen-Trib)
Distinguished on Suresh A. Shroff & Co. v. Joint Commissioner of Income-tax 2013 TaxPub(DT) 0764 (Mum-Trib)
Followed on Doshi Housing Ltd. v. Asstt. CIT 2013 TaxPub(DT) 0187 (Mad-HC)
Distinguished on Dy. CIT v. Hyundai Motor India Ltd. 2012 TaxPub(DT) 2986 (Chen-Trib)
Distinguished on Expeditors International (India) (P) Ltd. v. Dy. CIT 2011 TaxPub(DT) 0447 (Del-Trib)
Followed on Expeditors International (India) (P) Ltd. v. Dy. CIT 2011 TaxPub(DT) 0447 (Del-Trib)
Relied on Thermal Systems (Hyd) (P) Ltd. v. Asstt. CIT 2009 TaxPub(DT) 0327 (Hyd-Trib)
Relied on Asstt. CIT v. Deepak Kothari (HUF) 2009 TaxPub(DT) 0171 (Luck-Trib)
Followed Techspan India (P) Ltd. & Anr. v. Income Tax Officer 2006 TaxPub(DT) 1408 (Del-HC)
Concurred with on Gruh Finance Ltd. v. Joint CIT 2000 TaxPub(DT) 1212 (Guj-HC)
Concurred with on Praful Chunilal Patel v. M.J. Makwana, Assistant CIT 1999 TaxPub(DT) 0438 (Guj-HC)
Relied on Income Tax Officer & Ors. v. Lakhmani Mewal Das 1976 TaxPub(DT) 0742 (SC)
Relied on Malegaon Electricity Co. (P) Ltd. v. CIT 1970 TaxPub(DT) 0394 (SC)
Relied on Calcutta Discount Co. Ltd. v. Income Tax Officer & Anr. 1961 TaxPub(DT) 0130 (SC)
 
The Tax Publishers2006 TaxPub(DT) 1215 (Del-HC) : (2006) 011 (I) ITCL 0245 : (2006) 281 ITR 0394 : (2006) 200 CTR 0433 : (2006) 151 TAXMAN 0041

Consolidated Photo & Finvest Ltd. V. Assistant CIT

INCOME TAX ACT, 1961

Reassessment - Change of opinion -Absence of new material or information

Held: Since, AO had gathered his reasons to believe for initiation of reassessment proceedings under section 147 from very same record as had been subject-matter of completed assessment proceedings. Therefore, mere change of opinion cannot be a basis for reopening completed assessments.

Income-tax Act, 1961, Section 147

A.Y. :1998-99
Decision: In favour of assessee.

Case Law Analysis:CIT v. Kelvinator of India Ltd. [2002] 256 ITR 1/ 123 Taxman 433 (Delhi) (FB) [Para 5], GKN Driveshafts (India) Ltd. v. ITO [2003] 259 ITR 19/[2002] 125 Taxman 963 (SC) [Para 6], Calcutta Discount Co. Ltd. v. ITO [1961] 41 ITR 191 (SC) [Para 13], Kantamani Venkata Narayana & Sons v. First Addl. ITO [1967] 63 ITR 638 (SC) [Para 14], Malegaon Electricity Co. (P.) Ltd. v. CIT [1970] 78 ITR 466 (SC) [Para 15], ITO v. Lakhmani Mewal Das [1976] 103 ITR 437 (SC) [Para 16], Praful Chunilal Patel v. M.J. Makwana, Asstt. CIT [1999] 236 ITR 832 (Guj.) [Para 17] and Gruh Finance Ltd. v. Jt. CIT [2000] 243 ITR 482/[2002] 123 Taxman 196 (Guj.) [Para 18].

Consolidated Photo & Finvest Ltd. V. Assistant CIT

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