Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


ARB Hotels Resorts Pvt. Ltd. v. PCIT (2023)458 ITR 61/(2024) 296 Taxman 419 (All)(HC)

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Reason to believe is sufficient-Not necessary to prove actual escapement of income-Writ petition is dismissed.[S. 148, 148A(b), 148A(d), Art. 226]

RRJ Infra Industries Pvt. Ltd. v. PCIT (2023)458 ITR 573 / 331 CTR 671/ 224 DTR 418/150 taxmann.com 85 (All)(HC)

S. 148 : Reassessment-Notice-Amalgamation-Company ceased to exist-Authorities are aware of amalgamation-Notice is held to be not valid. [S. 147, Art. 226]

Sanjay Kumar v. ACIT (2023)458 ITR 548 /151 taxmann.com 158 / 334 CTR 500(Delhi)(HC)

S. 147 : Reassessment-With in four years-Transaction has not taken place in previous year-Objection is not considered-Sanction is without application of mind-Notice and order disposing the application is quashed.[S. 133(6), 148, 151, Art. 226]

Limbabhai Ishwarbhai Jodhani v. ACIT (2023)458 ITR 331/150 taxmann.com 291 (Guj.)(HC)

S. 147 : Reassessment-With in four years-Audit objection and factual errors-Capital gains-Agricultural land-Notice is bad in law-Notice and order is quashed. [S. 45, 50C, 148, Art. 226]

Gandhibag Sahakari Bank Ltd. v. Dy. CIT (2023) 458 ITR 157 /156 taxmann.com 221/(2024)337 CTR 308 (Bom.)(HC)

S. 147 : Reassessment-With in four years-Borrowed satisfaction-change of opinion-Notice without jurisdiction-Notice and order disposing the objection is quashed-Writ can be entertained on judicial aspect. [S. 2(40) 142(1), 143(2), 148, Art. 226]

Jetair Pvt. Ltd. v. Dy. CIT (2023)458 ITR 462 / 148 taxmann.com 185 (Bom.)(HC)

S. 147 : Reassessment-After the expiry of four years-No evidence of failure to disclose material facts-Notice not specifying which facts not disclosed-Reassessment notice and order disposing the objection is quashed. [S. 143(3), 148, Art. 226]

Abbott India Ltd. v. ACIT (2023) 458 ITR 529 / 157 taxmann.com 423 / 335 CTR 796 (Bom.)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Sales promotion expenses-Gift expenses-Health care professionals-Change in law subsequently-Reassessment notice and order disposing the objection is quashed. [S. 148, Art. 226, Medical Council of India Act, 1956, The Indian Medical Council (Professional Conduct, Etiquette and Ethics) Regulations, 2002.]

PCIT v. Spicer India Ltd. (No. 1) (2023)458 ITR 40 / (2024) 296 Taxman 431 (Bom.)(HC)

S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Specified domestic transaction-Benchmarking to be done for only associated enterprises’ transactions and not for entire turnover-Order of Tribunal is affirmed. [S. 260A]

Assessing Officer (IT) v. Nestle SA (2023)458 ITR 756 / (2024) 296 Taxman 580 (SC) Editorial: Decisions of Delhi High Court in Nestle SA v. Assessing Officer (IT) (2022) 445 ITR 463 (Delhi)(HC), Steria (India) Ltd v. CIT (2016) 386 ITR 390(Delhi)(HC), EPCOS Electronic Components S.A v. UOI (2019) 14 ITR-OL 535 (Delhi)(HC), Concentrix Services Netherlands B.V. v. ITO (TDS / OPTUM Global Solutions International B.V. v. Dy. CIT (2021) 434 ITR (Delhi)(HC), reversed.

S. 90 : Double taxation relief-Agreement or Protocol entered into by Government-Enforceable in courts and Tribunals only after appropriate notification-Most favoured nation-No right to invoke most favoured nation clause when third country with which India has entered into Double Taxation Avoidance Agreement was not yet member of organisation for economic co-operation and development at time of entering into such agreement-Most favoured nation clause comes into effect after notification is issued-DTAA-India-France-Netherlands-Switzerland-Words and Phrases-“Is”-Interpretation-Double taxation Avoidance agreements. [S. 90(1), Art. 73]

PCIT v. Sri Sai Lakshmi Industries Pvt. Ltd. (2023)458 ITR 373 /157 taxmann.com 172 (Karn.)(HC) Editorial : Order of Tribunal in, Dy.CIT v. Sri Sai Lakshmi Industries Pvt. Ltd. (2023) 33 ITR (Trib)-OL 225 (Bang)(Trib)

S. 45 : Capital gains-Agreement for joint development of land-Giving power of attorney to land owner-No conveyance in year of agreement-No liability to capital gains tax in the year of development agreement.[S. 2(47)]