Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Pannalal Madan Bai v. ACIT (2022) 448 ITR 298 /(2023) 333 CTR 329/ 226 DTR 217 (Mad.)(HC) Pannalal Kochar v. ACIT (2022) 448 ITR 298 /(2023) 333 CTR 329/ 226 DTR 217(Mad.)(HC) Editorial : Decision of single judge in Pannalal Kochar v. ACIT (2022) 19 ITR-OL 606 //(2023) 333 CTR 333(Mad)(HC)/), Pannalal Madan Bai v. ACIT Pannalal Madan Bai v. ACIT (2023 ) 333 CTR 333 (Mad)( HC) affirmed., affirmed.

S. 148 : Reassessment-Notice-Law laid down by Supreme Court not followed-Matter remanded to Assessing Officer. [S. 147, Art. 226]

Charu K. Bagadia v. ACIT (No. 2) (2022) 448 ITR 563 / 327 CTR 419 / 215 DTR 361 (Mad.)(HC) Editorial : Decision of the single judge in Charu K. Bagadia v. ACIT (No. 1. (2022) 448 ITR 560 / 327 CTR 431 / 215 DTR 372 (Mad.)(HC) reversed.

S. 148 : Reassessment-Notice-Notice should be issued by Assessing Officer who has jurisdiction over assessee. [S. 129, 147, 148(1), 148(2), Art. 226]

S.R. Cold Storage v. UOI (2022) 448 ITR 37 / 217 DTR 102 / 328 CTR 272/ 289 Taxman 580 (All.)(HC)

S. 147 : Reassessment-Notice-Reasons recorded unfounded-No failure to disclose material facts-Violation of principle of natural justice-Notice without jurisdiction-Strictures-Reassessment done without adhering to the rule of law-Illegal demand and order quashed-Cost of 50,00,000 was awarded on Department-Government to frame Circular-Alternative remedy is not a bar to maintain writ petition. [S. 144B, 148, Art. 226]

Prakhar Tandon v. Assessing Officer (2022) 448 ITR 177 / 288 Taxman 133 / 220 DTR 195(All.)(HC)

S. 147 : Reassessment-Notice-Best judgment assessment-Capital gains-Reasons recorded non-existent-Notice and subsequent reassessment order quashed. [S. 45, 144, 144B, 148, Art. 226]

CIT (E) v. B. P. Poddar Foundation for Education (2022) 448 ITR 695 (Cal.)(HC)

S. 147 : Reassessment-Addition made on the basis of for reopening assessment was deleted by CIT(A)-Other income cannot be assessed on the basis of invalid notice. [S. 148]

Azim Premji Trustee Co. Pvt. Ltd. v. PCIT (2022) 448 ITR 356 /( 2023) 331 CTR 113/ 222 DTR 75(Karn.)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Shares received as gift and their value disclosed in original assessment-Reassessment notice is not valid. [S. 52(vii)(b), 148, Art. 226]

PCIT v. Smart Value Products and Services Ltd. (2022) 448 ITR 145 (HP)(HC)

S. 145 : Method of accounting-Rejection of accounts-Estimate should be fair-Local knowledge and circumstances of assessee should be taken into consideration-Order of Tribunal affirmed. [S. 145(3), 260A]

CIT v. Bhageeratha Engineering Ltd. (No. 1) (2022) 448 ITR 81/288 Taxman 737 (Ker.)(HC) CIT v. Bhageeratha Engineering Ltd. (No. 2) (2022) 448 ITR 93/142 Taxmann.com 155 (Ker.)(HC)Editorial: SLP of revenue dismissed , CIT v .Bhageeratha Engineering Ltd. (No. 2)( 2022) 289 Taxman 10(SC)

S. 145 : Method of accounting-Change of method-Mercantile System of accounting to completed contract accounting-Change is bonafide-Income-Accrual-Bills certified as relating to work completed in relevant assessment year cannot be recognised as receipts and brought to tax. [S. 4, 5]

Pesco Beam Environmental Solutions Pvt. Ltd. v. NAFC (2022) 448 ITR 122 (Mad.)(HC)

S. 144B : Faceless Assessment-Orders passed without affording reasonable time to respond to final show-cause notice-Order set aside and matter remanded to Assessing Officer. [S. 147, 148, Art. 226]

Huawei Telecommunications (India) Co. Pvt. Ltd. v. Dy. DIT (Inv.) (No. 2) (2022) 448 ITR 115 (Delhi)(HC) Editorial: Refer Huawei Telecommunications (India) Co. Pvt. Ltd. v. Dy. CIT (Inv.) (No. 1) (2022) 448 ITR 111 (Delhi)(HC)

S. 132(9B) : Search and seizure-Provisional attachment-Repatriation of royalty or dividend-Interim order-Modification-Provisional attachment and barring repatriation of moneys abroad-Conditions modified subject to creating additional lien by way of fixed deposit in bank. [S. 132, Art. 226]