Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Ajit Chandrashekar Dighe v. CIT (2024) 230 TTJ 766 / 238 DTR 30 / 38 NYPTTJ 412 / 167 taxmann.com 529 (Mum)(Trib)

S. 199 : Deduction at source-Credit for tax deducted-Salary-Matter remanded to the file of CIT(A) for verification. [S. 192, Form no 26AS]

Shri Digambar Jain Mandir Trust v. ACIT (2024) 230 TTJ 1 (UO (Jodhpur) (Trib)

S. 164 : Representative assessees-Charge of tax-Beneficiaries unknown-Trust-Maximum marginal rate-Temple-Income from charity received from devotees coming to the temple and interest on bank deposits-Beneficiaries are general public-Revenue Department website also advises that the tax rate of the trust is as applicable to the individual-The tax rate as specified in S. 164(2) will apply to the AOP/Individual and the initial exemption is also available [S.2(37), 12A,164(1) 164 (2)]

Syed Gulam Mohiuddin v. ITO (IT) (2024) 230 TTJ 956 / 38 NYPTTJ 716/ 163 taxmann.com 234 (Hyd)(Trib)

S. 153 : Assessment-Reassessment-Limitation-Non-resident-The assessment was made as per the procedure laid down in S. 144C-No reference was made under S. 92CA(1)-Time-limit for completing the assessment under S. 147 was available upto 31st March, 2022-The final assessment order passed by the AO under s. 144 r/w s. 144C, dt. 12th Jan., 2023-Barred by limitation. [S.92CA, 144, 144C,147, 148 153(2)]

ACIT v. Suntok Tea Co. (2024) 230 TTJ 681 / 241 DTR 204 / 38 NYPTTJ 836 (Guwahati) (Trib)

S. 153C : Assessment-Income of any other person-Search-Satisfaction note-Neither reference to the date of search nor description of the nature of documents seized-Assessment order is invalid-No incriminating material was found-Addition is deleted. [S. 132]

Goldiam International Ltd. v. DCIT (2024) 230 TTJ 1 / 238 DTR 33 / 38 NYPTTJ 411 (Mum)(Trib) Goldiam Jewelry v. Dy.CIT v. DCIT (2024) 230 TTJ 1 / 238 DTR 33 / 38 NYPTTJ 411 (Mum)(Trib) Editorial: Refer, UOI v. Rajeev Bansal (2024) 301 Taxman 238 / (2024) 469 ITR 46 (SC)

S. 151 : Reassessment-Sanction for issue of notice-More than three years from the relevant assessment year-Sanction for the order under s. 148A(d) was obtained from Principal CIT and not Principal Chief CIT-Reassessment proceedings are quashed [S. 147 148, 148A(b), 148A(d)]

Prashant Vithoba Navale v.Dy.CIT (2024) 230 TTJ 341 / 240 DTR 145 / 38 NYPTTJ 664 (Pune) (Trib) Sadashiv Nivruti Navale v. Dy.CIT (2024) 230 TTJ 341 / 240 DTR 145 / 38 NYPTTJ 664 (Pune) (Trib)

S. 147 : Reassessment-Cash deposits-Search-Salary-Investigation-Reassessment is valid-Unexplained cash-Source is not explained-Addition is affirmed. [S.68,69A, 132, 148]

Manish Rajnarain Goswami v. ITO (2024) 230 TTJ 911 / 240 DTR 169 / 38 NYPTTJ 484 (Mum)(Trib)

S. 147: Reassessment-Cash deposit-No mentioning of name of asseessee in Investigation report-Objection not fully disposed of-Reassessment is quashed. [S.68,133(6), 148]

Jainco Transmission Ltd. v. DCIT (2024) 230 TTJ 769 / 239 DTR 225 / 38 NYPTTJ 738 (Kol)(Trib)

S. 147 : Reassessment-Non application of mind-Shell companies-Web site of the Income-tax portal-Re produced information without cross verification-The reopening of assessment is quashed.[S. 148]

Nanda Agrawal v. ITO (2024) 230 TTJ 46 (UO)/ 167 taxmann.com 707 (Raipur) (Trib)

S. 145 : Method of accounting-Failure to produce details-Rejection of books of account is justified-Matter is restored back to the AO to estimate the profit of the assessee at a percentage worked out on the basis of preceding three years. [S. 145(3)]

Sunita Singhvi v.ACIT (2024) 230 TTJ 236 / 38 NYPTTJ 352 (Jodhapur) (Trib)

S. 143(3): Assessment-Limited scrutiny-Interest income mismatch-Without following the prescribed procedure and necessary approval of the competent authority conducting an enquiry on the issue which is outside the limited scrutiny would be beyond the jurisdiction of the AO-The Assessment order is quashed. [S. 143(2)]