Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Dinesh Singla v. ACIT (2025) 474 ITR 532 (P & H)(HC)

S. 147 : Reassessment-After the expiry of four years-Agricultural land-Capital gains-Adventure in the nature of trade-No new material-Re assessment notice and order disposing the objection were quashed. [S. 2(14)(iii)(b),28(i), 45, 143(3), 148, Art. 226]

Experion Hospitality Pvt. Ltd v. ITO (2025) 474 ITR 358 (Delhi)(HC)

S.147: Reassessment-After the expiry of four years-Share capital-Parent company-Source explained-Re assessment notice and order disposing objection quashed..[S. 68, 143(1), 143(3), 148, Art. 226]

BSIFS Pvt. Ltd. v. ACIT [2024] 161 taxmann.com 443 / (2025) 474 ITR 200 (Bom)(HC) Editorial : SLP of revenue dismissed, ACIT v BSIFS Pvt. Ltd.(2025) 474 ITR 208 (SC)

S.147: Reassessment-After the expiry of four years-Business of purchase and sale of shares-Set-off-Speculation loss-Business loss-Query raised-Audit objection-Change opinion-Notice and order disposing the objection was quashed. [S.28(i), 73, 148, Art. 226]

ACIT v BSIFS Pvt. Ltd.(2025) 474 ITR 208 (SC) Editorial : BSIFS Pvt. Ltd. v. ACIT (2025) 474 ITR 200 (Bom)(HC)

S.147: Reassessment-After the expiry of four years-Business of purchase and sale of shares-Set-off-Speculation loss-Business loss-Query raised-Audit objection-Change opinion-Notice and order disposing the objection was quashed-SLP of revenue dismissed. [S.28(i), 73, 148, Art. 136]

CIT v. Ramco Cements Ltd. (2025) 474 ITR 9 / 171 taxmann.com 306 (Mad)(HC)

S. 144B : Faceless Assessment-Limitation-Commencement of limitation period-Directions of DRP uploaded on 31-1-2022 in Income-tax Business Application portal-Order visible and accessible to AO on same date-AO cannot rely on later internal intimation dated 3-2-2022-Assessment completed on 22-3-2022 held barred by limitation.[S.143(3), 144B(3), 144C(13), 260A]

Mahesh Chander Sharma v.NFAC (2025) 474 ITR 528 (P & H) (HC)

S.143(3):Assessment-Reassessment-Alternative remedy-Writ petition dismissed.[S. 147, 148, 246A, Art. 226]

Ambience Farms Pvt. Ltd v. ACIT (2025) 474 ITR 209 (Delhi)(HC) Editorial : SLP of assessee dismissed, Ambience Farms Pvt. Ltd v. Asst. CIT (2025I 474 ITR 214 (SC)

S. 143(3): Assessment-Jurisdiction-Notices-Assessing Officer or prescribed authority-Powers of Central Board of Direct Taxes to prescribe authority not confined to authorising Income-tax Officers of National Faceless Assessment Centre alone as prescribed authority-Notification issued by Central Board of Direct Taxes authorising Assistant Commissioner or Deputy Commissioner (IT), Circle-1(1)(1)-Notice were within jurisdiction. [S.119, 142(1) 143(2), ITAT R, 1962, R. 12E.Art. 226]

Ambience Farms Pvt. Ltd v. Asst. CIT (2025I 474 ITR 214 (SC) Editorial : Ambience Farms Pvt. Ltd. v. ACIT, (2025) 474 ITR 209 (Delhi)(HC)

S. 143(3): Assessment-Jurisdiction-Notices-Assessing Officer or prescribed authority-Powers of Central Board of Direct Taxes to prescribe authority not confined to authorising Income-tax Officers of National Faceless Assessment Centre alone as prescribed authority-Notification issued by Central Board of Direct Taxes authorising Assistant Commissioner or Deputy Commissioner (IT), Circle-1(1)(1)-Notice were within jurisdiction-SLP dismissed. [S.119, 142(1) 143(2), ITAT R, 1962, R. 12E. Art. 136]

PCIT v. Vivek Krishnamoorthy, (2025) 474 ITR 506 / 175 Taxmann.com 681 (Karn) (HC) Editorial: Order of Single Judge in Vivek Krishnamoorthy v. PCIT (2024) 469 ITR 605 (Karn) affirmed.

S. 139 : Return of income-Delay in filing return-Refunds-Computation of limitation period-CBDT Circular No. 9/2015, para 6 [2015] 374 ITR (St.) 25)-Order rejecting the application was set aside. [S. 139(9), 237, 240, 245, Art. 226]

Laxminath Investment and Management Consultants Pvt. Ltd. v. Pr. CIT (2025) 474 ITR 7/ 174 taxmann.com 55 (SC) Editorial : Laxminath Investment and Management Consultants Pvt. Ltd. v. PCIT (2025) 474 ITR 1/ 174 taxmann.com 54 (Bom)(HC)

S. 127 : Power to transfer cases-Transfer of case for effective co-ordinated investigation to avoid loss of revenue-Transfer order stating adequate reasons and centralisation for limited period until conclusion of assessment according to norms and decentralisation thereafter-Communications between transferor and transferee jurisdictional Commissioners indicating their agreement-Assessee given opportunity of hearing-No infirmity in transfer order-Interference in writ jurisdiction not warranted-SLP of assessee dismissed, [S. 127(2), Art. 136]