Spectris Technologies (P.) Ltd. v. Asstt. CIT

SUBSCRIBE FOR FULL CONTENT


The Tax Publishers2012 TaxPub(DT) 0517 (Del-Trib) : (2011) 142 TTJ 0073 INCOME TAX ACT, 1961 --Reassessment--Validity Principle of consistency--Assessee had claimed depreciation on goodwill treating it as intangible asset. assessing officer reopened the assessment on the ground that goodwill is not covered under intangible assets mentioned in section 32. Assessee argued that without any difference in facts and circumstances of the case Department had deviated from the stand taken by it in the immediate preceding year and in the immediate proceeding succeeding year which was not permissible in law as principle of consistency had to be maintained. *Held:* Was justified. Thus, on the date when notice under section 148 was issued for the impugned assessment year, proceedings under section 148 were pending in respect of assessment years 2003-04 and 2005-06 and they were also dropped. before the conclusion of proceedings for impugned assessment year which was an intermediate year. Therefore in view of principle of consistenty the reassessment proceedings were not valid. Income Tax Act, 1961 Section 147 INCOME TAX ACT, 1961 --Reassessment--ValidityPrinciple of consistency--Assessee had claimed depreciation on goodwill treating it as intangible asset. assessing officer reopened the assessment on the ground that goodwill is not covered under intangible assets mentioned in section 32. Assessee argued that without any difference in facts and circumstances of the case Department had deviated from the stand taken by it in the immediate preceding year and in the immediate proceeding succeeding year which was not permissible in law as principle of consistency had to be maintained. *Held:* Was justified. Thus, on the date when notice under section 148 was issued for the impugned assessment year, proceedings under section 148 were pending in respect of assessment years 2003-04 and 2005-06 and they were also dropped. before the conclusion of proceedings for impugned assessment year which was an intermediate year. Therefore in view of principle of consistenty the reassessment proceedings were not valid. Income Tax Act, 1961 Section 147 IN THE ITAT, DELHI 'G' BENCH G.E. VEERABHADRAPPA, VICE PRESIDENT & I.P. BANSAL, J.M. Spectris Technologies (P) Ltd. v. Asstt. CIT ITA No. 3399/Del/2010 A.Y 2004-05 22 July, 2011 Appellantby : Ashwani Taneja & Tarun Kumar, Respondentby : Gajanand Meena, ORDER *I.P. Bansal, J.M.* This is an appeal filed by the assessee. It is directed against the order passed by learned Commissioner (Appeals), dt. 23-3-2010 for assessment year 2004-05. Grounds of appeal read as under : '1. That having regard to the facts and circumstances of the case, learned Commissioner (Appeals) has erred in law and on facts in confirming the action of learned assessing officer in framing the impugned assessment order that too without complying with the mandatory conditions under section 147 to 151 of the Income Tax Act, 1961 and in any case and in any view of the matter reopening of the assessment of the assessee-company and the impugned assessment order framed is contrary to law and facts. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers2012 TaxPub(DT) 0517 (Del-Trib) : (2011) 142 TTJ 0073

INCOME TAX ACT, 1961

--Reassessment--Validity Principle of consistency--Assessee had claimed depreciation on goodwill treating it as intangible asset. assessing officer reopened the assessment on the ground that goodwill is not covered under intangible assets mentioned in section 32. Assessee argued that without any difference in facts and circumstances of the case Department had deviated from the stand taken by it in the immediate preceding year and in the immediate proceeding succeeding year which was not permissible in law as principle of consistency had to be maintained. Held: Was justified. Thus, on the date when notice under section 148 was issued for the impugned assessment year, proceedings under section 148 were pending in respect of assessment years 2003-04 and 2005-06 and they were also dropped. before the conclusion of proceedings for impugned assessment year which was an intermediate year. Therefore in view of principle of consistenty the reassessment proceedings were not valid.

Income Tax Act, 1961 Section 147

INCOME TAX ACT, 1961

--Reassessment--ValidityPrinciple of consistency--Assessee had claimed depreciation on goodwill treating it as intangible asset. assessing officer reopened the assessment on the ground that goodwill is not covered under intangible assets mentioned in section 32. Assessee argued that without any difference in facts and circumstances of the case Department had deviated from the stand taken by it in the immediate preceding year and in the immediate proceeding succeeding year which was not permissible in law as principle of consistency had to be maintained. Held: Was justified. Thus, on the date when notice under section 148 was issued for the impugned assessment year, proceedings under section 148 were pending in respect of assessment years 2003-04 and 2005-06 and they were also dropped. before the conclusion of proceedings for impugned assessment year which was an intermediate year. Therefore in view of principle of consistenty the reassessment proceedings were not valid.

Income Tax Act, 1961 Section 147

IN THE ITAT, DELHI 'G' BENCH

G.E. VEERABHADRAPPA, VICE PRESIDENT & I.P. BANSAL, J.M.

Spectris Technologies (P) Ltd. v. Asstt. CIT

ITA No. 3399/Del/2010

A.Y 2004-05

22 July, 2011

Appellantby : Ashwani Taneja & Tarun Kumar,

Respondentby : Gajanand Meena,

ORDER

I.P. Bansal, J.M.

This is an appeal filed by the assessee. It is directed against the order passed by learned Commissioner (Appeals), dt. 23-3-2010 for assessment year 2004-05. Grounds of appeal read as under :

'1. That having regard to the facts and circumstances of the case, learned Commissioner (Appeals) has erred in law and on facts in confirming the action of learned assessing officer in framing the impugned assessment order that too without complying with the mandatory conditions under section 147 to 151 of the Income Tax Act, 1961 and in any case and in any view of the matter reopening of the assessment of the assessee-company and the impugned assessment order framed is contrary to law and facts.