Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Pradeep Kumar Joshi v. ITO (2022) 192 ITD 577 (Ahd.)(Trib.)

S. 6(1) : Residence in India-Individual-Status-182 days-While counting days of stay in India for considering status of ‘resident’, day of arrival has to be excluded. [S. 3(1)(b)]

Manoj Pati v. ACIT (2022) 192 ITD 120 (Kol.)(Trib.)

S. 2(22)(e) : Deemed dividend-Land purchased in the name of director-Commercial expediency-Addition cannot be made as deemed dividend.

CIT v. Chandan Magraj Parmar (2022) 445 ITR 674 /285 Taxman 565 (Bom)(HC)

S. 263 : Commissioner – Revision of orders prejudicial to revenue -Agricultural land – Capital asset – land sold by assessee was situated beyond 8 kms from local limits of any municipality or cantonment board- Not capital asset – Revision order is not valid [ S. 2(IA), 2(14) (iii) , 143(3) ]

Trent Ltd. v. Dy. CIT (2022)285 Taxman 460 (Bom)(HC)

S. 147 : Reassessment –With in four years- Store launch expenses- Capital or revenue – Change of opinion – Reassessment notice is quashed [ S. 37 , 148 , Art , 226 ]

Sterling and Wilson (P.) Ltd. v .ACIT (2022)285 Taxman 468 (Bom) ( HC)

S. 147 : Reassessment – Depreciation on goodwill – Change of opinion – Re assessment notice is not valid [ S. 32 , 148 , Art , 226 ]

Golden Tobacco Ltd. v. ACIT (2022)285 Taxman 688 (Bom) (HC)

S. 147 : Reassessment –With in four years- Capital gains –Shares – Rate of tax at 10 % – Application of mind during original assessment proceedings – Notice issued u/s 148 is quashed [ S. 48, 112 , 143(3), 148 , Art , 226 ]

Gemstar Construction (P.) Ltd. v UOI (2022) 285 Taxman 457 (Bom) (HC)

S. 147: Re assessment – Change of opinion – Housing project – Full details of residential unit was furnished in the course of assessment proceedings – Re assessment is held to be bad in law . [ S.80IB(10), 148 Art , 226 ]

Reynolds Shirting Ltd. v. ACIT (2022)285 Taxman 554 (Bom) (HC)

S.147: Reassessment – After the expiry of four years – Cash credits – Information received from Director (Investigation ) –Bogus suspicious transaction – Fishing enquiry – Reassessment notice is quashed . [ S. 68, 148 , Art , 226 ]

Reuters India (P.) Ltd. v. Dy.CIT (2022 ) 285 taxman 557 (Bom)( HC)

S. 147 : Reassessment – After the expiry of four years – Certificate was issued for nil TDS – Reassessment notice on the ground that misrepresentation of facts – Agreement was made available when the certificate was issued – Reassessment is held to be not justified .[ S. 148 , 197, Art , 226 ]

Patel Engineering Ltd. v . Dy. CIT (2022)446 ITR 728 / 285 Taxman 655 / 210 DTR 185 (Bom) (HC)

S.147: Reassessment – After the expiry of four years – Sub contract and sub -contract – During assessment proceedings all details are furnished – survey – Reasons cannot be improved or supplemented Re assessment notice is not valid – Re assessment notice is not valid .[ S. 133A, 148 , Art , 226 ]