Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


CIT v. Navjot Singh Sidhu (2023)458 ITR 446 (P&H)(HC)

S. 158BC : Block assessment-Bonus money and prize money-Cricket Board-Circular withdrawing guidelines for treatment of tour money received by Cricket player cannot be applied retrospectively.[S. 132, 260A]

Saloni Prakash Kumar v. ITO (2023)458 ITR 452 /155 taxmann.com 432/335 CTR 782 (Mad)(HC)

S. 153C : Assessment-Income of any other person-Search-Long term capital gains-Penny stock shares-Matter remanded.[S. 10(38), 132, 147, 148A(b) 148A(d), Art. 226]

Virendra Kumar Chourasia v. ITO (2023)458 ITR 431 (MP)(HC)

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Reply to initial notice-Assessing Officer directed to proceed after considering reply of assessee. [S. 148, 148A(b) 148A(d), Art. 226]

Satluj Credit And Holdings Pvt. Ltd. v. ITO (2023) 458 ITR 378 / 152 taxmann.com 401 (Mad)(HC)

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Initial notice need only state issue on basis of which reopening of assessment is proposed-Writ petition is dismissed. [S.2(22)(e), 147 148, 148A(b), 148A(d), Art. 226]

Nitin Nema v. PCIT (2023)458 ITR 690 /155 taxmann.com 276/ 334 CTR 545 (MP)(HC)/Editorial : SLP of Revenue is dismissed , PCCIT . v Nitin Nema (2024)468 ITR 105/ 168 taxmann.com 531 (SC)

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice after three years-Failure to file the return of income-Gross receipt of sale consideration not income chargeable to tax-Notice and consequential orders are quashed.[S. 2(24), 147, 148A(b), 148A(d), Art. 226]

Midland Microfin Ltd. v. UOI(2023)458 ITR 36 (P&H)(HC)

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Followed statutory procedure-Alternative remedy-Writ petition dismissed. [S. 148A(b), 148A(d), Art. 226]

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]