Direct Tax Vivad Se Vishwas Act , 2020

S. 2(1)(a)(i): Appellant – Pendency of appeal – Condonation of delay – Appeal could be pending even if delay was not condoned, irregular or incompetent – Non availability of order cannot be the reason for not availing the benefit of any provision or scheme to the Citizens – Designated Authority was directed to accept the declaration filed by the petitioner . [ Art , 226 ]

Direct Tax Vivad Se Vishwas Act , 2020

S. 2(1)(a)(i): Appellant – Pendency of appeal – Condonation of delay – Appeal could be pending even if delay was not condoned, irregular or incompetent – Non availability of order cannot be the reason for not availing the benefit of any provision or scheme to the Citizens – Designated Authority was directed to accept the declaration filed by the petitioner . [ Art , 226 ]

S. 148: Reassessment – Notice-Constitutional validity – The delegation authorized being only for the purpose of enlarging limitation under a valid law, such delegation could not be exercised to resurrect the provision of law that stood omitted from the statute book by virtue of its substitution made by the Finance Act, 2021, w.e.f. 01.04.2021 – Reassessment notices issued under section 148 of the Act are quashed-It is left open to the assessing authority to initiate – re-assessment proceedings in accordance with the provisions of the Act, as amended by the Finance Act, 2021 after making due compliance as required under the law. [S. 147, 148A, 149, 151, 151A, 153, 292 Relaxation of Certain Provisions) Act, 2020 (TOLA), S. 3(1) of the Act 38 of 2020, Art. 226]

S. 80IB: Industrial undertakings – Fraudulent transactions – Denial of tax holiday – Principles of natural justice is not applicable in cases of fraud – Special provisions for payment of tax by certain persons other than a company.- Hospital -Tax holidays -Alternative remedy – Finding given by single judge was modified – Directed to entertain the appeal and dispose the appeal in accordance with law as expeditiously . [ S. ,80IB(11C) , 115JC , 153A , 246A, Art ,226 ]

S. 147: Reassessment – Capital gains -Penny stock alternative remedy – Reassessment notice was held to be valid [ S. 45,142(1), 148 , Art , 226 ]

S. 147: Reassessment –Reasons recorded – Cash credit- Accommodation entries-Sanction – Non-application of mind – Strictures – CBDT to formulate a Scheme to train officers for recording reasons – Commissioners to not to grant sanction in a mechanical manner – Reassessment proceedings was quashed [S. 148 , 151, Art , 226]

S. 147 : Reassessment-After the expiry of four years- When re-assessment proceedings to disallow brought forward loss were held to be without jurisdiction, High Court could not issue fresh directions to Assessing Officer to look into other grounds.[S.72 , Art , 226 ]

S. 254(1) : Appellate Tribunal – Duties- Depreciation – Total franchisee- Accrual basis – Cryptic order -Non application of mind – Order set aside and remanded to the Tribunal for fresh consideration .[ S. 32 , 43 , 43(5) 43B , 260A]

S. 147 : Reassessment –With in four years- Capital gains – Joint development – Failure to disclose the factum of handing over of possession of the property – Reassessment notice was held to be valid- Matter remanded to the Tribunal . [ S. 45, 148, 154(1) ]

S. 143(2) : Assessment – Notice – Failure to issue notice – Assessment is held to be bad in law [ S. 132, 153A] S. 143(2) :