S. 201 : Deduction at source-Failure to deduct or pay-Interest-Tax deduction at source-Failure to deduct tax at source-Capital gains tax-Limitation-Alternative remedy-Writ petition is dismissed-DTAA-India-UK-Strictures-Observations made by the Assessing Officer is directed to be expunged within two days and directed the ASG to take appropriate measures. [S. 45, 158(2),195, 201(1), 201(IA), Art. 14, Art. 226]
S. 197 : Deduction at source-Certificate for lower rate-Stock options-Salaries-Specified security-Property-Since the assessee did not make any payment towards the ESOPs and continues to retain all the ESOPs even after the receipt of compensation, the entire receipt qualifies as the perquisite and becomes liable to be taxed under the head “Salaries”-Assessee is not entitled to a ‘nil’ certificate of deduction [S.2(14), 15, 17(2), 192,, Sale of Goods Act, 1930, Companies Act, 2013, Art. 226 ]
S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice is issued by Jurisdictional Assessing Officer and not under faceless mechanism-Notice and order is quashed. [S. 148, 148A(b) 148A(d), 151A, Art. 226]
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Non application of mind-Reply filed-Face less assessment-Notice issued by Jurisdictional Assessing Officer-Notice and order disposing the objection is quashed. [S.133(6), 148, 148(ab) 148A(d). 151A Art. 226]
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice issued by jurisdictional AO and not as per S. 151A-Section 144B cannot be viewed as exclusive basis for all assessment and reassessment procedures and Jurisdictional Assessing Officer (JAO) cannot be completely deprived of power to assess or reassess merely because section 144B and Faceless Reassessment Scheme 2022 have been introduced-Interpretation Of Statutes-Legislative intent-Principles of beneficial construction. [S. 144B 148, 148A(b), 148A(d), 151A, Art. 226]
S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Non application of mind-Net income from the buy and sell transactions amounts to only Rs. 77,280-Reassessment notice and order disposing the objection is quashed.[S. 148A(b), 148A(d), Art. 226]
S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Limitation-Notice issued on 27-5-2022 under section 148A(b) was not in continuation of reopening notice under section 148 dated 30-6-2021-Reopening assessment for assessment year 2015-16, is in contravention of first proviso to section 149(1) and is barred by limitation.[S. 148, 148A(b), 148A(d), 149(1)(b), Art. 226]
S. 148 : Reassessment-Notice-Limitation-Department is directed to examine each and every case relating to the deemed notices issued under S. 148, in light of the observations made by the Supreme Court in UOI v. Rajeev Bansal (2024) 340 CTR 865 / 242 DTR 297 (SC) and reach to a conclusion, as to whether the proceedings would fall within the limitation or have become time barred.[S. 144B, 147, 148, 148A, 149, Art. 226]
S. 147 : Reassessment-After the expiry of four years-Audit information-Same material-New tangible material-Reassessment notice and order disposing the objection is quashed.[S.80IC, 143(3), 148, Art. 226]
S. 143(3): Assessment-Service of notice-Writ-Territorial jurisdiction of High Court-Place of business and registered office vis-a-vis service of notice-Notice is served on the assessee, whose registered office is within the territorial jurisdiction of this Court, and who has received the notice at Mumbai-Part of the cause of action, in terms of cl. (2) of Art. 226 of the Constitution of India, has arisen within the territorial jurisdiction of this Court, which, entitles the assessee to approach this Court invoking its jurisdiction under Art. 226 of the Constitution, with a grievance of breach of its legal and constitutional rights. [Art. 226]