Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Indian National Congress v. DCIT [2024] 463 ITR 431 /337 CTR 761 (Delhi) (HC)

S. 153C : Assessment-Income of any other person-Limitation-A composite Satisfaction Note would suffice the requirements of Section 153C of the Act provided it embodied details of the material gathered in the course of the search and pertaining to the AYs forming part of the block as a whole-As long as proceedings are initiated within a reasonable period from the closure of assessment of the searched person, a failure to take immediate action would not be fatal to the assessment-Writ petition is dismissed. [S. 132, 153A, 153B, Art.226]

PCIT, Central-1 v. Oxygen Business Park (P.) Ltd [2024] 463 ITR 125 (Delhi) (HC)

S. 153A : Assessment-Search-No assessment was pending on the date of search-No incriminating material was found during the search-Fresh material/information received after the date of search would not be sufficient to reopen the assessment under section 153A.[S. 80IAB, 132,143(1), 143(2), 260A]

Twylight Infrastructure Pvt. Ltd. v. ITO (2024)463 ITR 702/336 CTR 800 (Delhi)(HC)

S. 151 : Reassessment-Sanction for issue of notice-Sanction of specified authority mandatory-Three years from the relevant assessment years-No approval of specified a[S. 147, 148, Art. 226]

Suridhi Commercial Infra Pvt. Ltd. v. ITO (2024)463 ITR 169 (Delhi)(HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Amalgamation-Show-cause notice against non-existent entity non-est-Show-cause notice and subsequent order for issue of notice is set aside.[S. 147, 148, 148A(b) 148A(d), Art. 226]

Leric Reeches v. ITO (2024)463 ITR 750 (Ker)(HC)

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Violation of principle of natural justice-Order set aside-Matter remitted to National Faceless Assessment Centre. [S. 144, 144B, 147, 148A(b) 148A(d), Art. 226]

Angelantoni Test Technologies SRL v. ACIT (2024] 158 taxmann.com 10 / 463 ITR 139 /337 CTR 973 (Delhi)(HC)f

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Investments by Foreign Companies in Shares of their own Indian subsidiaries-Transactions are capital account transactions-No proof of transactions being consequence of round-tripping-Investment in shares capital account transaction not income-Notices and orders set aside. [S. 9(1)(i), 115A, 147, 148, 148A(b), 148A(d), Art. 226]

Satguru Sai Extrusions Pvt. Ltd. v. UOI (2024)463 ITR 714 /339 CTR 55 (Bom)(HC) Sai Balaji Extraction and Alloys Pvt. Ltd. v. UOI (2024)463 ITR 714 /339 CTR 55 (Bom)(HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Initial notice-Personal hearing-Personal hearing not statutory mandate but discretion of Assessing Officer-Writ petition is dismissed-Assessee can raise contentions in reassessment proceedings-Interpretation of taxing statutes-Legislative intent-Plain language of provision must be given its ordinary meaning.[S. 132, 147, 148, 148A(b),148A(d), Art. 226]

Popatlal Umedmalji Jain v. ITO (2024)463 ITR 734 (Bom)(HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Unrecorded marriage expenses-Inquiry not mandatory before issue of order-Writ petition to quash notice is dismissed. [S. 147, 148, 148A(b), Art. 226]

Bharatkumar Nihalchand Shah v. ITO [2024] 463 ITR 94 (Guj)(HC)

S. 147 : Reassessment-With in four years-Reasons recorded are cryptic and vague-Notice and order disposing the objection is quashed and set aside.[S. 148, Art. 226]

Abhijeet Anilkumar Gaikwad v. ACIT (2024)463 ITR 810 (Bom)(HC)

S. 147: Reassessment-Principle of natural justice-Order passed without affording opportunity to be heard-Order is not valid-Directed to pass reasoned order after providing a reasonable opportunity of hearing.[S. 148, Art. 226]