Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Azim Premji Trustee Co. (P.) Ltd. v Dy. CIT (2023) 331 CTR 173 / 122 DTR 145/ 146 taxmann.com 58 (Karn)(HC)

S.147: Reassessment-After the expiry of four years-Capital gains-Sale of shares-Gift-Income from other sources-No failure to disclose material facts-Reassessment notice and order disposing the objection is quashed. [S. 56(2)(vii)(c), 148, Art. 226]

Kalinga Institute of Industrial Technology v. CIT (2023) 330 CTR 579 / 221 DTR 387 (Orissa)(HC)

S. 147 : Reassessment-After the expiry of four years-Material already on the record-Referred in the Audit report-Reassessment notice and order disposing the objection is quashed.[S. 148, Art. 226

Kostal India (P) Ltd. v. DRP (2023) 331 CTR 95/ 222 DTR 328 (Mad)(HC)

S. 144C : Reference to dispute resolution panel-Opportunity of being heard was provided-Failure to produce documents-Alternative remedy-Writ petition is dismissed. [S. 143(3), 144C(11), Art. 226]

Aryan Education Society v. NFAC (2023) 332 CTR 124 / 221 DTR 244 (Bom)(HC)

S. 144B : Faceless Assessment-Principle of natural justice-Draft assessment order-Assessment order is set aside and the matter is remanded back for fresh consideration by the AO in accordance with the provisions of the Act. [S. 144B(1)(xiv), Art. 226]

Srinivas Meesala v. Add. CIT (2023) 331 CTR 464/146 taxmann.com 322 (AP)(HC)

S. 144B : Faceless Assessment-Best judgement assessment-Reassessment-Unexplained money-Alternative remedy-Writ petition is dismissed.[S. 69A, 144, 147, 148, 246A, Art. 226]

Green Valliey Industries Ltd. v. Assessment Unit, Income Tax Department. (2023) 330 CTR 4(Cal) (HC) Editorial : Division bench set aside the judgement of single judge, Green Valliey Industries Ltd. v.Asst. Unit, Income-tax Department (2023) 330 CTR 1/ 147 taxmann.com 295 (Cal)(HC)

S. 144B : Faceless Assessment-Opportunity of hearing-Principle of natural justice-No patent violation of natural justice-Writ petition dismissed. [S. 143(3), Art. 226]

Green Valliey Industries Ltd. v. Asst. Unit, Income-tax Department (2023) 330 CTR 1/ 147 taxmann.com 295 (Cal)(HC) Editorial : Order of single judge is set aside, Green Valliey Industries Ltd. v.Asst. Unit, Income-tax Department (2023) 330 CTR 4 (Cal)(HC)

S. 144B : Faceless Assessment-Opportunity of hearing-Principle of natural justice-Less than 48 hours to submit reply-Matter remanded back for fresh consideration. [S. 143(3), Art. 226]

Dy. CIT. v. Abacus Real Estate (P)(Ltd (2023) 332 CTR 38 (SC) Editorial: From the judgement of Bombay High Court in Abacus Real Estate (P) Ltd v. Dy.CIT (2021) 133 taxmann.com 277 (Bom)(HC) (WP No. 1221 of 2021 dt. 25-10 2021

S. 144B : Faceless Assessment-Show cause notice with draft assessment order-Order passed by the High Court is modified and the matter is remanded to the AO to pass a fresh assessment order, after following due procedure in accordance with law. [Art. 136, 226]

CIT v. Crystal Phosphates Ltd. (2024)461 ITR 289/ 332 CTR 215 /152 taxmann.com 232 (P&H)(HC)

S. 143(3) : Assessment-Limited scrutiny-Central Board of Direct Taxes-Instructions-Binding on Authorities-Notice issued under section 143(2) not in terms of instructions of Central Board of Direct Taxes-Notice and assessment order without jurisdiction. [S. 119, 143(2), 144]

Minosha India Ltd. v. CIT (2023) 331 CTR 470 /223 DTR 398 (Cal)(HC)

S. 143(3) : Assessment-Moratorium under Insolvency & Bankruptcy Code-Once the plan is approved under the Insolvency & Bankruptcy Code the resolution applicant starts on a clean slate and it cannot be faced with surprise claims, therefore, the assessment order which is the subject matter of the appeal cannot be enforced any longer, nor the consequential proceedings which arose from the assessment order. [S. 37(1), Insolvency & Bankruptcy Code, 2016, S.14, 30(6),31, 260A]