Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Adani Power Rajasthan Ltd v. ACIT (2023) 150 taxmann.com 136/ 334 CTR 187/(2024) 461 ITR 210 (Guj)(HC)

S. 147 : Reassessment-Audit objection-Corporate Social Responsibility-Change of opinion-Notice and order disposing the objection is quashed and set aside. [S. 37(1), 148, Companies Act, 2013, S.135, Art. 226]

Harsha Bhavesh Patel (Smt.) v NFAC (2023)456 ITR 476 (Karn)(HC)

S. 147 : Reassessment-Faceless Assessment-Principle of natural justice-Oder passed without giving an opportunity of hearing–Reassessment proceedings and consequential notices quashed-Assessing Officer is directed to afford due opportunity and pass order accordingly. [S. 148, 156, Art. 226]

CIT v. Verdhman Textiles Ltd. (2023)456 ITR 427 /153 taxmann.com 141 (P&H)(HC)

S. 147 : Reassessment-Capital or revenue-Amount paid to electricity Board for bay lines allowed as revenue expenditure-No new material-Reassessment is not valid. [S. 37, 148, 260A]

PCIT v. Nesco Ltd. (2023)456 ITR 600/ 291 Taxman 286 (Bom)(HC)

S. 147 : Reassessment-With in four years-Provision for compensation-Allowed as deduction-Notice of reassessment based on same issues-Held to be not valid.[S. 37(1), 148]

PCIT v. Prabhu Dayal Aggarwal (2023)456 ITR 84 /154 taxmann.com 506 (Delhi)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-No opportunity of cross-examination is given-Reassessment is not valid.[S. 148, 260A]

CIT v. Canara Bank (2023)456 ITR 316 (Karn)(HC)

S. 147 : Reassessment-After the expiry of four years-No allegation in notice that material facts necessary for assessment had not been disclosed-Reassessment notice and order is not valid. [S.148 260A]

Anilaben Rohitbhai Modi v. ITO (2023)456 ITR 607 / 152 taxmann.com 76 (Guj)(HC)

S. 147 : Reassessment-After the expiry of four years-Compensation-Compulsory acquisition by Government-Denial of exemption to other Co-owners-Notice and order disposing the objection is set aside. [S. 10(37) 148,263, Art. 226]

Wyeth Ltd. v. ACIT (2023)456 ITR 536 /153 taxmann.com 699 (Bom)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Reassessment notice and order disposing the objection is quashed. [S. 148,151, Art. 226]

Survival Technologies Pvt. Ltd. v. Dy. CIT (2023)456 ITR 261 /149 taxmann.com 453 (Bom)(HC)

S. 147 : Reassessment-After the expiry of four years-Reasons recorded not specifying what material was not disclosed-No new information-Change of opinion-Notice and order disposing the objection is quashed. [S. 35(2AB) 148, Art.226]

Rehana Anwar Shaikh v. ITO (2023)456 ITR 720 (Bom)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Information from Investigation wing-Share transactions-No new tangible material-Change of opinion-Notice and order disposing the objection is quashed. [S. 148, Art. 226]