Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Kalupur Commercial Co-Operative Bank Ltd. v. ACIT (2022) 447 ITR 630 (Guj.)(HC)

S. 147 : Reassessment-Order passed without considering objections to notice of reassessment-Order not valid. [S. 148, Art. 226]

Distributors India’s Logistics v. UOI (2022) 447 ITR 615 / 288 Taxman 594/(2023) 334 CTR 713 (All.)(HC)

S. 147 : Reassessment-Material leading to prima facie belief that income had escaped assessment-Reassessment notice is valid. [S. 148, Art. 226]

Financial Software and Systems Pvt. Ltd. v. Dy. CIT (2022) 447 ITR 357/218 DTR 490 /329 CTR 37(Mad.)(HC) Editorial : Decision of single judge set aside, Financial Software and Systems (P.) Ltd. v. Dy. CIT ( 2021) 283 Taxman 165/(2022)447 ITR 352/ 218 DTR 497 / 329 CTR 44(Mad.)(HC) Order of division bench is affirmed by Supreme Court in Dy. CIT v. Financial Software and Systems Pvt. Ltd. (2022)) 447 ITR 370 (SC)

S. 147 : Reassessment-With in four years-Change of opinion-Specific query is raised in the course of assessment proceedings-It was not for the assessee to tell the Assessing Officer how he had to complete the assessment-Reassessment notice is not valid-Writ is maintainable. [S. 35D, 37(1), 148, Art. 226]

Kalpataru Land Pvt. Ltd. v. ACIT (2022) 136 taxmann.com 434 (Bom.)(HC) Editorial : Affirmed in ACIT v. Kalpataru Land Pvt. Ltd. (2022) 447 ITR 364 // 218 DTR 527 / 329 CTR 224/ ( 2023) 290 Taxman 123/ 218 DTR 527 / 329 CTR 224/ ( 2023) 290 Taxman 123(SC)

S. 147 : Reassessment-With in four years-Share capital-Share premium-Income from other sources-Produced evidence in support of increase of authorised share capital, share allotment and names and address of parties from whom share premium received-Change of opinion-Reassessment was quashed. [S. 56 (2)(viib), 148, Art. 226]

Sahara Credit Co-Operative Society Ltd. v. Dy. CIT (2022) 447 ITR 597/ 141 taxmann.com 384 /(2023) 331 CTR 432/ 223 DTR 158 (All.)(HC)/Editorial:Notice issued in SLP filed by assessee, Sahara Credit Cooperative Society Ltd. v. DCIT (2022) 289 Taxman 404 (SC)

S. 147 : Reassessment-After the expiry of four years-Failure to disclose material facts-Audit party is entitle to point out a factual error-Subsequent discovery that facts regarding depositors was inadequate-Approval communicated to the Assessing Officer-b Notice valid. [S. 148, Art. 226]

Peerless Hospitex Hospital and Research Center Ltd. v. PCIT (2022) 447 ITR 60 / 326 CTR 249 / 213 DTR 81 / 287 Taxman 711 (Cal.)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Expenditure prohibited by law-Amounts paid by Hospitals as referrals to Doctors-Not deductible-Interpretation of taxing statutes-Interpretation taking into account intention of legislature-Reassessment notice was quashed-Notice not valid. [S. 148, Art. 226]

ACIT v. Kalpataru Land Pvt. Ltd. (2022) 447 ITR 364/ 218 DTR 527 / 329 CTR 224/( 2023) 290 Taxman 123 (SC) Editorial : Order of Bombay High Court, Kalpataru Land Pvt. Ltd v. ACIT (2022) 136 taxmann.com 434 (Bom.)(HC)

S. 147 : Reassessment-With in four years-Share capital-Share premium-Income from other sources-Produced evidence in support of increase of authorised share capital, share allotment and names and address of parties from whom share premium received-Change of opinion-Reassessment order quashed by the High Court is affirmed. [S. 56 (2)(viib), 148, Art. 226]

Dy. CIT v. Financial Software and Systems P. Ltd. (2022)447 ITR 370 / 218 DTR 489/ 329 CTR 36 (SC) Editorial : Financial Software and Systems P. Ltd. v. Dy. CIT (2022) 447 ITRR 352 (Mad)(HC)

S. 147 : Reassessment-With in four years-Specific queries raised by Assessing Officer and answered by assessee at time of original assessment-Change of opinion-Reassessment notice is not permissible. [S. 35D, 37(1), 148, Art. 226]

PCIT v. SBI (2022) 447 ITR 368 / 219 DTR 63/ 329 CTR 220/ 145 taxmann.com 33/( 2023) 290 Taxman 1 (SC) Editorial : Decision of Bombay High Court in State Bank of India v. ACIT (2019) 418 ITR 485 (Bom)(HC), affirmed.

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Change of opinion-Reassessment is bad in law. [S. 148, Art. 226]

Jindal Realty Ltd. v. NFAC (2022) 447 ITR 302 (Delhi)(HC)

S. 144B : Faceless Assessment-Assessment order passed without issuing notice-cum-draft assessment order-Violation of principles of natural justice-Alternate remedy not a bar to writ remedy-Assessment order and consequent demand notice and penalty proceedings set aside-Matter remanded to Assessing Officer. [144, 144B, 147, 156, 271(1)(c), Art. 226]