Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Australia and New Zealand Banking Group Ltd. v. Dy. CIT (IT) (2024) 115 ITR 113 (Mum)(Trib)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Limitation-Interest-Notice and proceedings initiated beyond prescribed time-limit-Barred by limitation. [S. 148, 148A(b), 148A(d), 149 (1)(b)]

Estate of Arjun Das Agarwal v. ITO (2024)115 ITR 467 (Kol)(Trib)

S. 148 : Reassessment-Notice issued in the name of dead person-Reassessment is bad in law and quashed.[S. 147, 159(2)(b), 159(3)]

Dy. CIT (E) v. Hindustan Institute of Technology and Science (2024) 115 ITR 24 (SN)(Chennai)(Trib)

S. 147 : Reassessment-Change of opinion-Issue dealt in original assessment proceedings-Reassessment is quashed. [S.11, 12AA 148]

Shankar Logistics P. Ltd. v. Dy. CIT (2024) 115 ITR 10 (SN)(Kol)(Trib)

S. 147: Reassessment-After the expiry of four years-Information from investigation wing-Accommodation entry-Reassessment is invalid. [S. 133(6), 148]

Anchita Properties P. Ltd. v. ITO (2024)115 ITR 401 (Kol)(Trib)

S.147: Reassessment-After the expiry of four years-Investments-No failure to disclose material facts-Onus on revenue-Reassessment notice and order is quashed. [S. 143(3). 148]

Mayfair Properties v. Dy. CIT (2024)115 ITR 619/ 167 taxmann.com 397 (Kol)(Trib)

S. 145 : Method of accounting-Construction business-Project-completion method of accounting-Addition of income on pending projects applying the percentage competition method is not justified.

Comparex India P. Ltd. v. ITO (2024) 115 ITR 19 (SN)/ 166 taxmann.com 720 (Delhi) (Trib)

S. 144C : Reference to dispute resolution panel-Arm’s Length Price-Draft order-Order of Transfer Pricing Officer’s order giving effect to directions of Dispute Resolution Panel direction is not rectified-Final assessment order is contrary to law-Order is set aside.[S. 92CA, 144C(13)]

Bridge India Fund v. Asst. CIT (IT) (2024)115 ITR 381 (Mum)(Trib)

S. 144C : Reference to dispute resolution panel-Verification of objections-Verification can only by an assessee-Verification by Advocate or Authorised representative is not valid-Failure to give an opportunity to take remedial action-Matter remanded for filing a fresh objections.[S. 2(7), 2(31), 144C(1), 144C(2), 144C(5), Income-Tax (Dispute Resolution Panel) Rules, 2009, Rr. 2, 4(1), Form 35A]

Nabiul Industrial Metal P. Ltd. v. ITO (2024) 115 ITR 81(SN)(Kol)(Trib)

S. 144B : Faceless Assessment-Additional ground-Cash credits-Information from Investigation wing-Direction to give explanation before 29-3-2022-Assessment order assed without jurisdiction-Assessment order is invalid.[S. 68, 147, 148, 151A]

Shriraja Zahoor Khan v. Dy. CIT (2024) 115 ITR 14 (SN) (Amritsar) (Trib)

S. 144 : Best judgment assessment-Principle of natural justice-Travelling expenses-Purchase of car-Matter restored to the Assessing Officer to examine evidence filed on record and adjudicate de novo. [S. 147, 148]