Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Balaji Graphics Art. P. Ltd v. ACIT(2024) 115 ITR 80 (SN)(Mum)(Trib)

S. 246A : Appeal-Commissioner (Appeals)-Appealable orders-Delay of 9 days-Delay is condoned-CIT(A) is directed to condone the delay and decide on merits. [S.200A(1)(c), 234E]

Apollo Education Trust v. Asst. CIT (2024) 115 ITR 76 (SN)(Bang)(Trib)

S. 246A : Appeal-Commissioner (Appeals)-Appealable orders-Delay of 133 days-Reasonable cause-Delay is condoned-Matter remanded to the CIT(A) to decide on merits. [S. 12A, 68, 253 (5)]

Singhal Builders v. ACIT (2024)115 ITR 378 / 169 taxmann.com 415 (Jaipur)(Trib)

S. 244A : Refunds-Interest on refunds-Shown any other income under the head business income-Assessable under the head income from other sources-Rate of tax unchanged-Addition of interest income is deleted. [S. 28(i), 56]

Quality Structures P. Ltd. v. Dy. CIT (2024) 115 ITR 49 (SN) (Lucknow)(Trib)

S. 153D : Assessment-Search-Approval-Approval of Joint commissioner-Mechanical approval-Final assessment on same day-Assessment order is annulled. [S. 132]

Dy. CIT v. Yash Organics Ltd. (2024) 115 ITR 61 (SN)(Ahd)(Trib)

S. 158BC : Block assessment-Cash credits-Suppression of sales-Industry practice-Undisclosed income-Addition on total sale proceeds is unjustified-Un explained cash credit is affirmed. [S. 68, 132A]

Sarangabani Kirubakaran v. Dy. CIT (2024) 115 ITR 28 (SN) (Chennai)(Trib)

S. 153C : Assessment-Income of any other person-Search-Limitation-Period to be reckoned from date of receipt of books of account, documents or seizure of assets by Jurisdictional Assessing Officer of non-searched person-Commissioner (Appeals) considering limitation period from date of search-Notice is barred by limitation.[S. 132, 132A]

Polisetty Somasundaram v. Dy. CIT (2024) 115 ITR 548 (Visakhapatnam) (Trib)

S. 153B : Assessment-Search-Time limit-Limitation-Last panchanama-Subsequent panchnama revoking prohibitory order without seizure of material-Time limit is not extended-Restraint order not lifted within one month of assessment order-Central Board Of Direct Taxes instruction-Release of prohibitory order,panchnama and assessment order is invalid-Central Board Of Direct Taxes Circular, Dated 3-7-2002-Last panchnama cancellation of restraint order-Second Panchnama is not last panchnama of conclusion of search-Electronic documents used as evidence-Mandatory conditions of Section 65B of Indian Evidence Act is not complied with-Not admissible evidence-Bogus purchases-Cash purchase of tobacco from grey market-Estimation of profit at 12.5 Per Cent. is proper. [S. 132(3), 132(8A), 143(3) 153A, Indian Evidence Act, 1872, S.65B (2)(d), 65B(4)]

Dy. CIT v. Sushil Tyagi (2024) 115 ITR 90 (SN)(Delhi)(Trib)

S. 153A : Assessment-Search-Additional ground admitted-Seized document related to third party-Proceedings to be transferred to Assessing Officer of third party-No satisfaction note prepared and no proceeding under Sectionb153C is initiated-Employee of searched company-Proceedings under section 153A is invalid. [S. 132, 153C]

Venkateswar Medicare P. Ltd. v. ITO (2024)115 ITR 325 /231 TTJ 791 / 169 taxmann.com 460 (Kol)(Trib)

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Limitation–Notice issued on 30-6-2021 will not relate back to original date where limitation expired on 31-3-2021-Notice is barred by limitation-Order and consequential notice is set aside-Information from Investigation wing-Accommodation entries-Charges are incorrect-Assessment made without application of mind-Notice and order is quashed. [S. 147, 148, 148A(b), 148A(d)]

G D Mother Educational Society v. ACIT (2024)115 ITR 594 / [2025] 170 taxmann.com 667 (Kol)(Trib)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Delay condoned-Additional ground-Earlier orders passed on basis of notice under Section 148 is not existing on date of notice-Assessment is invalid and quashed.[S. 147, 253(5), ITATR. 11]