Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Zaveri and Company Pvt. Ltd. v. Dy. CIT (2021) 437 ITR 100/ 205 DTR 269/ 322 CTR 441 /(2022)285 Taxman 178 (Guj.)(HC)

S. 147 : Reassessment-After the expiry of four years-Subsequent investigation-Accommodation entries-Penny stock-Capital gains-Transactions were bogus-Reassessment notice was held to be valid. [S. 45, 132, 148, Art. 226]

West Asia Maritime Ltd. v. ACIT (2021) 437 ITR 338 (Mad.)(HC)

S. 147 : Reassessment-After the expiry of four years-Change of opinion-No failure to disclose any material facts-Non-resident-Tax deduction at source-Reassessment notice was held to be not valid. [S. 40(a)(ia), 195, 201(1), Art. 226]

SL Lumax Ltd. v. Dy.CIT (2021) 437 ITR 549 (Mad.)(HC)

S. 147 : Reassessment-After the expiry of four years-Material facts-Disclose fully and truly-Deemed cases-Details of accounting-Sufficiency of reasons need not be gone into in writ proceedings-Reassessment notice was held to be valid. [S. 147, Explanation, 2, 148, Art. 226].

DRS Industries Pvt. Ltd. v Dy.CIT (NO. 2) (2021) 437 ITR 687 / 205 DTR 57/ 322 CTR 289 (Mad.) (HC)

S. 147 : Reassessment-After the expiry of four years-Change of opinion-No allegation of non-disclosure of true and full facts-Proviso 1 and 3-Reassessment notice was held to be not valid. [S. 148, Art. 226]

Doshi Housing v. PCIT (2021) 437 ITR 317 (Mad.)(HC)

S. 147 : Reassessment-After the expiry of four years-Real estate business-Sale between related parties-No enquiry was made in the course of original assessment proceedings-New information based on Tribunal judgement-No true disclosure of material facts-Reassessment notice was held to be valid. [S. 40A(2)(b), 148, Art. 226]

PCIT v. Superior Films Pvt. Ltd. (2021) 437 ITR 230/ / 208 DTR 202/ 323 CTR 1016/ 282 Taxman 123 (Delhi)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-The four-year period not from the disposal of appeal by CIT (A)-Third proviso-Reassessment is held to be not valid-Reassessment was held to be not valid-Appeal-Consistence view taken in favour of assessee-Appeal is not maintainable. [S. 148, 260A]

Cairn India Ltd. v. Dy. DIT (IT) (2021) 437 ITR 371 /( 2022) 284 Taman 86 (Mad.)(HC)

S. 147 : Reassessment-After the expiry of four years-Incorrect and misleading particulars-Reassessment notice is justified-Writ is not maintainable. [S. 43B(c), 148, Art. 226]

Cairn India Ltd. v. Dy. DIT(IT) (2021) 437 ITR 371 (Mad.)(HC)

S. 147 : Reassessment-After the expiry of four years-Incorrect and misleading particulars-Reassessment notice is justified-Writ is not maintainable. [S. 43B(c), 148, Art. 226]

Backbone Projects Ltd. v. ACIT (2021) 437 ITR 144 / 206 DTR 169 / 323 CTR 552(Guj.)(HC)

S. 147 : Reassessment-After the expiry of four years-Survey-Search-Failure to disclose material facts-Information from Investigation wings-Bogus accommodation entries-Reassessment notice was held to be justified. [S. 132, 133(6), 147, Art. 226]

Roca Bathroom Products Pvt. Ltd. v. Dy.CIT (2021) 438 ITR 249 / (2022)213 DTR 238/ 329 CTR 464(Mad.)(HC)

S. 147 : Reassessment-After the expiry of four years-Amalgamation-No failure to disclose material facts-Reassessment notice was held to be not valid. [S. 2(IB), 148, Art. 226]