Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Panchsheel Mercantile Co-Op Bank Ltd. v. ACIT (2025) 307 Taxman 649 (Guj.)(HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Cash credits-Surrender of old PAN-Allotted new PAN-Notice and order quashed. [S. 148, 148A(b), 148A(d), Art. 226]

Ferra Engineering Pty Ltd. v. Asst. CIT, (IT) (2025) 307 Taxman 519 (Delhi)(HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Transfer of shares-Agreed to provide the share purchase agreement, TRC, full bank statements and full reconciliation of foreign exchange and cost to the Assessing Officer-The order and notice were set aside and the matter was to be remanded back to the Assessing Officer for a fresh consideration.[S. 148, 148A(b), 148A(d), Art. 226]

ITO v. Onir Infraspace (P.) Ltd. (2025) 307 Taxman 615 / (2026) 487 ITR 420 (SC) Editorial : Onir Infraspace (P) Ltd v.ITO (2024) 168 taxmann.com 21 (Guj) (HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice issued for verification-High Court quashed the notice-SLP of revenue dismissed.[S. 148, 148A(b), 148A(d), Art. 226]

Dy. DIT (E) v. Fine Arts Society (2025) 307 Taxman 224 (SC) Editorial : Fine Arts Society v.Dy. DIT(E)(2024) 159 taxmann.com 776 (Bom)(HC)

S.147: Reassessment-Commercial activity-High Court quashed reassessment notice-SLP delay of 445 days-SLP dismissed on account of delay. [S. 11, 148, Art. 136]

ACIT v. P.C. Patel and Company (2025) 307 Taxman 223 (SC) Editorial : P.C.Patel & Co v.ACIT (2024) 166 taxmann.com 100 (Guj)(HC)

S. 147: Reassessment-Depreciation-Earth-moving equipment-Commercial vehicles-No failure to disclose material fact-High court quashed reassessment notice and order disposing of the objections-SLP dismissed on account of not explaining the delay of 244 days. [S. 148, Art. 136]

J N Tekrawala Construction Ltd. v. ITO (2025) 307 Taxman 236 (Guj.)(HC)

S. 145: Method of accounting-Project competition method-Civil construction-Order of the Tribunal estimating the income at 8% on the basis of receipt was deleted-Directed the Assessing Officer to accept the project competition method. [S. 260A]

Mukeshbhai Barbarbhai Desai v. IDAU, NFAC (2025) 307 Taxman 265 (Guj.)(HC)

S. 144B: Faceless Assessment-Failure to provide personal hearing-Assessment Order as well as notice were to be quashed and set aside-Matter remanded back to NFAC to comply with SOP and pass a fresh order after following due procedure of law.[S. 144B(6),147, 148, 148A(b) 148A(d), Art. 226 ]

Hasmukh Nanalal Parekh v. UOI (2025) 307 Taxman 427 (Guj)(HC)

S. 144B: Faceless Assessment-Non-resident-Failure to grant personal hearing-Reassessment notice and consequential order were quashed. [S.10(15), 148, 148A(b), 148A(d), Art. 226]

Yashaswini Gruha Nirmana Sahakara Sangha Niyamitha v. ITO (2025) 307 Taxman 244 (Karn.)(HC)

S. 144: Best judgment assessment-Cash deposits during demonetisation-Unexplained money-Non-receipt of the notice-Ex parte order was set aside, and the Assessing Officer was directed to make fresh adjudication.[Art. 226]

Navinbhai Bhagubhai Patel v. UOI (2025) 307 Taxman 438 (Guj.)(HC)

S. 139: Return of income-Delay in filing of return-Tax deducted at source-Land Acquisition Act-The Commissioner was directed to condone the delay and allow the assessee to file the return. [S. 119 (2)(b), 194LA, Form 26AS, Art. 226]