Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Usha Eswar (Mrs). v.Rajeshwari Menon, ITO, (IT) (2023) 334 CTR 480 / 152 taxmann.com 454 (Bom)( HC)

S. 147 : Reassessment-Reopening of assessment on the ground of subsequent AAR-Binding nature of Advance ruling will prevail-Reassessment notice and notice is quashed and set aside-DTAA-India-UAE [S. 9(1)(i) 148, 245S, Art. 4, 10, 11,13(3), Art. 226]

Shrikant Vasudev Naik v. ACIT ( 2023) 333 CTR 684 ( Bom)( HC) Indirabai Shrikant Naik v. ACIT ( 2023) 333 CTR 684 ( Bom)( HC)

S. 147 : Reassessment –With in four years-Capital gains-Change of opinion-No suppression of material facts-Reassessment notice and order disposing the objection is quashed. [S. 45, 143(3), 148, Art. 226]

Gujarat Natural Resources Ltd. v. ACIT (2023) 335 CTR 260 / 148 taxmann.com 476 (Guj)(HC)

S.147: Reassessment-After the expiry of four years-Share application money-Produced address, PAN etc-Reassessment notice and order disposing the objection is quashed.[S. 68,

Ramesh Kymal v. Dy.CIT( IT)(2023) 334 CTR 533/227 DTR 85 (Mad) ( HC) Mangal Chand Ostwal v. ITO)(2023) 334 CTR 533/ 227 DTR 85 (Mad) ( HC)

S.147: Reassessment-After the expiry of four years-Long term capital gains-Sale of shares-Information from Investigation Wing-No failure to disclose material facts-Reassessment notice and order disposing the objection is quashed. [S.45, 148, Art. 226]

Ramakant v. ITO (2023) 333 CTR 786 (Dehi) ( HC) Editorial : Ramakant v. ITO (2023) 333 CTR 791/294 Taxman 48 / 228 DTR 206 (Dehi) ( HC)

S.147: Reassessment-After the expiry of four years-Cash credits-Search-Deposit of cash in bank-No scrutiny assessment was done-Reassessment notice is held to be justified-Review petition is dismissed [S. 68, 143(1), 147, Art. 226]

Cadila Pharmaceuticals Ltd. v. Add. CIT(2023) 334 CTR 57 (Guj)( HC)

S. 144C : Reference to dispute resolution panel-Principle of natural justice-Only one day time was given to file reply-Matter remanded.[S. 92CA, Art. 226]

Swagatika Rout v.Chairman, CBDT (2023) 335 CTR 214 / 152 taxmann.com 529 (Orissa)( HC)

S. 144B : Faceless Assessment-Sale of property-Not allowing the relief under section 48-Assessing Officer abdicated his role as adjudicator-Assessment order is quashed and set aside-Assessee is directed to file the return within two weeks. [S. 48, 144, 147

B. Ramamoorthy v. ACIT (2023) 334 CTR 330 (Mad)( HC) Editorial : Affirmed, in B. Ramamoorthy v. ACIT (2023)457 ITR 544 / 293 Taxman 67 / 334 CTR 326 (Mad)( HC)

S. 144 : Best judgment assessment-Question of fact-Alternate remedy-High court cannot investigate into facts-Writ petition is dismissed. [S. 153, Art. 226]

Ramya Vivek Iyer v. ITO (2023) 334 CTR 931 (Mad) ( HC)

S. 144 : Best judgment assessment –Non service of notice-Principle of natural justice-New PAN card-Change of address uploaded-Order and penalty notices are quashed and set aside. [S. 271(1)(b), 271 (1)(c), Art. 226]

Rishi Ganga Power Corporation Ltd. v. Asst. CIT (2024) 335 CTR 512/ 158 taxmann.com 72 / (2024) 297 Taxman 123 //464 ITR 133 (Delhi)( HC)

S. 143(3): Assessment-Cash credits-Share application money-Recovery-National Company Law Tribunal admitted insolvency petition against assessee-Revenue in terms of Insolvency and Bankruptcy Code, 2016 had not lodged its claim with RP-Revenue could not enforce assessment order and demand notice. [S. 68, 156, 220, 271AAC 272A(1)(d), Insolvency and Bankruptcy Code, 2016 and regulation 7 of the Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 S. 31]