S. 147 : Reassessment-With in four years-Bad debt-Provision for bad and doubtful debts-Schedule bank-Order of High Court quashing the reassessment notice and consequential order was quashed-SLP of Revenue is dismissed on account of delay of 162 days as well as on merits. [S. 36(1)(viia), 143(3), Art. 136]
S. 147 : Reassessment-After the expiry of four years-Loss in speculation business-No failure to disclose material facts-SLP dismissed [S. 73, 143(3), 148, Art. 226]
S. 145 : Method of accounting-Project completion method-Real estate development-Assessing Officer followed percentage completion method-Alternative remedy-Writ petition dismissed. [S. 43CB, 144B, ICDS III & IV, Art. 226]
S. 144B : Faceless Assessment-Personal hearing-Natural justice-Video conference-Order of the Assessing Officer was quashed and set a side-Statutory authority was directed to afford a personal hearing to assessee through video conferencing. [S. 143(2), 144B(7), Art. 226]
S. 143(2) : Assessment-Notice-Limitation-Date of filing original return to be considered for limitation, not date defects were removed-SLP dismissed. [S. 139(1), 139(9), Art. 136]
S. 132B : Application of seized or requisitioned assets-Search and seizure-Seizure of jewellery from locker in company’s name-Presumed to belong to company-Revenue cannot treat it as belonging to directors-Directed to release seized assets. [S. 132(1)(B)(iii), Art. 226]
S. 132B : Application of seized or requisitioned assets-Requisition of books of account-Stock in trade-Trader of gold jewellery/ornaments-Factual dispute regarding itemized stock register and quantity of gold seized-Non-release of gold ornaments held to be justified. [S. 132A, Art. 226]
S. 127 : Power to transfer cases-Order passed without opportunity of hearing-Best judgment order quashed [S. 144, 260A, Art. 226]
S. 127 : Power to transfer cases-Search and seizure-No compliance with requirement of agreement between jurisdictional Principal Commissioners-Transfer order set aside [S. 127(2), Art. 226]
S. 119 : Central Board of Direct Taxes-Delay of 1585 days in filing revised return-Order signed by Addl. Commissioner with approval of Member (IT)-Matter remanded to CBDT [S. 119(2)(b), 139(5), Art. 226]