Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Shram Enterprises v. ACIT (2024)471 ITR 456 (Karn) (HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice issued without giving an opportunity of hearing heard-Notice and order is set aside. [S. 147, 148, 148A(b), 148A(d), Art. 226]

Annam Rajasekher Bindu v. ITO (2024)471 ITR 328/158 taxmann.com 406 (Mad) (HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Purchase of property-Income from other sources-Order for issue of notice was not mentioned in the initial notice-Notice and order is quashed-Matter remanded.[S. 56(2)(viib), 147, 148, 148A(b), 148A(d), Art. 226]

Khar Hospitality India Ltd. v. CIT (2024)471 ITR 200 (Cal) (HC)

S. 148: Reassessment-Notice-Claim for deduction of interest-Intimation is not an order of assessment-Assessment for the first time under section 147-Entitle for permissible deductions under the law.[S.43B, 143(1) 147]

Alok Industries Ltd. v. ACIT (2024) 471 ITR 536 /161 taxmann.com 285 (Bom) (HC)

S. 148 : Reassessment-Notice-Protective assessment-Issuance of notice after initiation of corporate Insolvency resolution process and after initiation of corporate insolvency resolution process and giving effect to resolution plan-Notices and subsequent proceedings of reassessment and penalty and consequential orders are reversed and set aside-Assessing Officer should modify demand giving effect to order of adjudicating Authority in Corporate Insolvency process under Code-Revenue may take whatever steps available to take action, if any, against ex-promoter and other third parties in accordance with law-Notices, subsequent proceedings of reassessment and penalty and consequent orders are reversed and set aside. [S. 133(6), 144, 147, 156A, 271(1)(c), 274, Insolvency and Bankruptcy Code, 2016, S. 31, 238, Art. 226]

Mahendra Gala v. ITO (2024) 471 ITR 757 (Bom)(HC) Editorial : Order of High Court is set aside, Mahendra Gala v. ITO (2024) 471 ITR 758/(2025) 302 Taxman 1 (SC)

S. 148 : Reassessment-Notice-Writ petition is dismissed on the ground with liberty to assessee to raise all contentions in reply before Assessing Officer and also direction for grant of personal hearing-Income. [S. 147, Art. 226]

Mahendra Gala v. ITO (2024) 471 ITR 758 /(2025) 302 Taxman 1 (SC) Editorial : Mahendra Gala v. ITO (2024) 471 ITR 757 (Bom)(HC)

S. 148 : Reassessment-Notice-Writ petition is dismissed on the ground with liberty to assessee to raise all contentions in reply before Assessing Officer and also direction for grant of personal hearing-Income-On SLP the Department stated that it had no objection to quash the notice as the transactions between a mother and son-Appeal is allowed [S. 147, Art. 136]

Jagdishkumar Vitthalbhai Patel v. ITO (2023) 471 ITR 216 /151 taxmann.com 121 (Guj) (HC)

S.147: Reassessment-After the expiry of four years-Capital gains-Co-owner-No failure to disclose material facts-Reassessment notice and order disposing the objection is quashed. [S. 45(3) 50C, 148, Art. 226]

Dhirajlal Gandalal Mehta v. ITO (2024) 471 ITR 58 /160 taxmann.com 313 (Guj)(HC) Editorial: SLP of Revenue is dismissed, ITO v. Dhirajlal Gandalal Mehta (2024) 298 Taxman 351 (SC)

S.147: Reassessment-After the expiry of four years-Cash credits-Partners capital account-No satisfaction was recorded-Reassessment notice and order disposing the objection quashed is quashed. [S. 68, 131(IA), 148, Art. 226]

Shashikiran Janardhan Shetty v. ACIT (2023)153 taxmann.com 472 / (2024) 471 ITR 528 (Bom) (HC)

S.147: Reassessment-After the expiry of four years-No failure to disclose material facts-Purchase of land-Reassessment notice and order disposing the objection is quashed and set aside.[S.69C, 147, 153A, Art. 226]

Shree Digvijaya Woollen Mills Ltd. v.CIT (2024)471 ITR 655 (P&H) (HC)

145 : Method of accounting-Wastage-Suppression of weight or production-Addition is made on presumptions and assumptions-Addition affirmed by the Tribunal is deleted-Scarp value of discarded cables-Addition is deleted.[S. 41(2), 256(2)]