S. 153C : Assessment – Income of any other person – Search – Satisfaction – Additional ground – Date on which satisfaction is recorded by the Assessing Officer for invoking the provisions would be deemed to be the date of receiving documents by the Assessing Officer of other person- Allowed the additional ground and quashed the assessment order . [ S. 132, 132A 144 ]
S.147: Reassessment – Information received in a subsequent assessment year is a valid reason to reopen an assessment for earlier year – Compensation taxable as income from house property [ S.22, 143(1)]
S.147: Reassessment – Carry forward and set off losses – Change in the structure of entity from Trust to LLP – Status of an entity incorporated abroad has to be determined even in India according to the law of the Country where the entity was incorporated – Notice to reassessment was quashed [ S. 74, 148 , Art .226 ]
S.147: Reassessment – After the expiry of four years- Earlier proceedings quashed on technical ground- Fresh notice for reopening and rectifying the error is valid [ S.148, Art, 226 ]
S.147: Reassessment-After the expiry of four years- Failure to deduct tax at source- No failure to disclose material facts – Change of opinion- Reassessment is held to be not valid [ S. 44AB, 148, 194I ]
S. 145 : Method of accounting – Books of account cannot be rejected merely for non -maintenance of stock register [ S.145(3)
S. 144C : Reference to dispute resolution panel – Section 144C inserted by the Finance ( No.2) Act , 2009 with retrospective effect from Ist April , 2009 is prospective in nature and would not apply to AY. 2009 -10 or earlier assessment years – Order passed is beyond limitation hence null and void . [ S.143(3) 153(1) ]
S. 143(2) : Assessment – Notice – Appellate Tribunal- Ground on pure question of law can be raised before the ITAT- Notice issued by the ITO who did not have a jurisdiction to issue notice – Statutory notice u/s 143(2) lacks jurisdiction and order is bad in law [ S. 143(3) 254(1) ]
S. 131 : Power – Discovery – Production of evidence – Summons stating not to depart until permission granted – Violates fundamental rights guaranteed under Part III of the Constitution of India [ S.148, Constitution of India , 1950 Arts, 12 to 35 ]
S. 115JB : Book profit – Capital gains- Capital asset- Sale of agricultural land- Gains from sale of agricultural land which is not a capital asset cannot be included for computing book profit . [ S.2(14)(iii), 2(IA), 5, 10(1), 45 ]