Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Cemach Machineries Ltd. v. ITO (2021) 435 ITR 306 (Guj.)(HC)

S. 147 : Reassessment-With in four years-Bogus transaction-Accommodation entries-Assessing Officer verifying material and deciding information was true-Notice is valid. [S. 133(6), 148, Art. 226]

Cavinkare Pvt. Ltd. v. Dy.CIT (2021) 435 ITR 396/ 282 Taxman 69 (Mad.)(HC)

S. 147 : Reassessment-With in four years-Change of opinion-Commission paid Chairman-Cum-Managing Director-CIT (A) allowing the claim in subsequent assessment year which has became final-Reassessment is held to be impermissible. [S. 36(1)(ii), 148]

Alliance Fibres Ltd. v. ACIT (2021) 435 ITR 264 / 280 Taxman 242 (Guj.)(HC)

S. 147 : Reassessment-Information from Investigation wing-No independent opinion-Cannot travel beyond reasons recorded-Notice was quashed. [S. 68, 148, Art. 226]

Aircel Cellular Limited v. Dy. CIT (2021) 435 ITR 660 (Mad.)(HC)

S. 147 : Reassessment-With in four years-Under assessment of income-Misinterpretation of provision-Notice valid-High Court cannot consider sufficiency of reason. [S. 80IA, 148, Art. 226]

Viresh Hemani v. ITO (2021) 435 ITR 376 (Orissa)(HC)

S. 147 : Reassessment-After the expiry of four years-Objections not been disposed of-Invalid approval-Approval of Joint Commissioner instead of Principal Chief Commissioner-Reassessment is held to be bad in law. [S. 148, 151, Art. 226]

Seshasayee Paper and Boards Ltd. v. ACIT (2021) 435 ITR 625 (Mad.)(HC), affirmed , ACIT v. Seshasayee Paper and Board Ltd. (2023)455 ITR 291/334 ITR 517 /148 taxmann.com 432 (Mad)( HC)

S. 147 : Reassessment-After the expiry of four years-Book profit-Bad and doubtful debts-Subsequent retrospective amendments-No failure to disclose material facts-Reassessment notice is held to be not valid. [S. 115JB, 148, Art. 226]

Garvit Diamonds Pvt. Ltd. v. ITO (2021)435 ITR 737 / 203 DTR 34 (2022)) 325 CTR 530 (Guj.)(HC)

S. 147 : Reassessment-After the expiry of four years-Finding by Investigation Wing-Bogus transaction-Accommodation entries-No true disclosure of facts-Issue of notice is valid. [S. 148, 149, Art. 226]

ACIT v. Kotarki Constructions Pvt. Ltd. (2021) 435 ITR 78 / 202 DTR 241 / 322 CTR 843 / 281 Taxman 187 (Karn.)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Developer-Works contract-Reassessment is not valid. [S. 148]

Amrishbhai Hasmukhlal Parikh v. ITO (2021)435 ITR 97 (Guj.)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-No new information-Notice to withdraw the deduction is held to be not valid. [S. 35(1)(ii), 80GGA, 148, Art. 226]

KBB Nuts Pvt. Ltd. v. National Faceless Assessment Centre, Delhi (2021) 435 ITR 622 / 280 Taxman 380 (Delhi)(HC)

S. 143(3) : Assessment-Faceless assessment-Natural justice violated-Order was passed before time granted-Order and notices are set aside-Directed to grant a personal hearing to the authorised representative. [S. 144B, 156, 271AAC, 274]