Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


North End Foods Marketing (P.) Ltd. v. Dy. CIT (2023) 291 Taxman 482 (Delhi)(HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Accommodation entries-No reply was filed-Disputed facts-Writ petition was dismissed.[S.133(6) 148A(b), Art. 226]

Stalco Consultancy & Systems (P.) Ltd. v. PCIT (2023) 455 ITR 308/ 291 Taxman 390 333 CTR 205 (Orissa) (HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice issued after more than six years-non-compliance with mandatory requirements-Period had not got extended by Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020-Notices dated 1-4-2021 and 5-4-2021 were held to be bad in law. [S. 148, 149, Art. 226]

Vesser Engineering Services (P.) Ltd. v. UOI (2022) 291 Taxman 179 (Chhattisgarh)(HC)

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Not granting the time prescribed from 7 to 30 days-Oder was set aside. [S. 148A(b), Art. 226]

Mahalaxmi Dye India (P.) Ltd. v. ACIT (2023) 291 Taxman 473 (Delhi)(HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Accommodating entries-Investigation revealed that the transaction was merely accommodating entries-Reopening of assessment is held to be valid. [S. 148A(d), Art. 226]

Sumant Investments (P.) Ltd. v. ACIT (2023) 291 Taxman 227 (Delhi)(HC)

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Amalgamation-Notice issued in the name of a company which was amalgamated with Assessee (amalgamated company) and was not in existence on date of issue of such notice-The notice and consequent order is held to be invalid. [S. 148, 148A(d), Art. 226]

Elite Pharmaceuticals v. ITO [2023] 291 Taxman 597 (Cal)(HC)

S. 148 : Reassessment-Notice-Second notice-After High Court remanded the matter.-Second notice is bad in law. [S. 153(6)(i), Art. 226]

PCIT v. NESCO Ltd. (2023) 291 Taxman 286 (Bom)(HC)

S. 147 : Reassessment-Within four years-Change of opinion-Compensation payable-Based on record that was already with the Assessing Officer at the time of the proceedings-Reassessment notice and order disposing the objection was quashed..[S. 37(1), 143(3), 260A]

Piyush Ambalal Gandhi.v. DCIT (2023) 457 Itr 411/ 291 Taxman 396 (Guj)(HC)

S. 147 : Reassessment-With in four years-Contribution to certain funds-Not claimed any relief-Reassessment notice and order disposing the objection was quashed.[80CCC(1), 148, Art. 226]

Omni Lens (P.) Ltd. v. ACIT (2023) 291 Taxman 619 (Guj)(HC)

S. 147 : Reassessment-With in four years-Unexplained investment-Laundering of huge funds-Rotation of funds-Reassessment notice and order disposing the objection is justified [S. 69B, 148, Art. 226]

Gem Edible Oils (P.) Ltd. v. ACIT (2023) 291 Taxman 242 (Mad)(HC) Editorial : Order of single Judge, Gem Edible Oils (P.) Ltd. v. ACIT (WP No. 10769 of 2022 dt. 27-4 2022)(Mad)(HC).

S. 147 : Reassessment-After the expiry of four years-Cash credits-Cash deposit in the bank-Information from Bank-Factual error cannot be considered in writ proceedings-Order of single judge was affirmed.[S. 68, 143(1), 148, Art. 226]