Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Asst. CIT v. Satish Kumar Keshri (2023) 156 taxmann.com 547 / (2024)460 ITR 480 (Pat)(HC)

S. 153A: Assessment-Search-Assessment of undisclosed income-Procedure to be followed-No pendency of proceedings-Order of Tribunal is affirmed. [S. 132]

Nitin Agarwal v. ITO (NO. 1) (2024)460 ITR 321 (Cal)(HC) Editorial : Division bench set aside the order of single judge, Nitin Agarwal v. ITO (NO. 2) (2024)460 ITR 323 (Cal)(HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Provided opportunity of hearing-Reply considered-Petition is dismissed. [S.148, 148A(b), 148A(d), Art. 226]

Shanmugasundaram Ravichandran v. ACIT (2024)460 ITR 247 /161 taxmann.com 212(Mad)(HC) Shanmugasundaram Rangasamy v.ACIT (2024)460 ITR 247 /161 taxmann.com 212(Mad)(HC) New Arcot Plywoods and Glasses v. ACIT (2024)460 ITR 247 /161 taxmann.com 212(Mad)(HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Principle of natural justice-No adequate opportunity to respond to notice-Notice of reassessment is quashed-Opportunity to respond the notice. [S. 148, 148A(b), Art. 226]

Asst. CIT (E) v. Prem Chand Markanda Sd College For Women (2024)460 ITR 495 /297 Taxman 64 (SC) Editorial : Refer, Prem Chand Markanda Sd College for Women v. ACIT (E) (2023) 455 ITR 329/334 CTR 582 (P& H)(HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Charitable purpose-Registration-Reassessment proceedings for earlier years cannot be initiated on ground of non-registration-SLP of Revenue dismissed. [S.11, 12 12A(2), 147, 148, 148A(b), Art. 136]

Citibank N. A. v. S. K. Ojha, Joint CIT [2023] 151 taxmann.com 234 / (2024)460 ITR 310 (Bom)(HC)

S. 148 : Reassessment-Notice-After the expiry of four years-Order passed by Designated Authority under Kar Vivad Samadhan Scheme, 1998 determining tax arrears-Assessing Officer has no jurisdiction to issue notice for reopening assessment thereafter-No material furnished in declaration shown to be false-Reassessment is without jurisdiction. [S. 147, Finance (No. 2) Act, 1998, S.90, 91, Kar Vivad Samadhan Scheme, 1998, [1998] 232 ITR (St.) 31), Art. 226]

PCIT v. Jaico Realtors Pvt. Ltd [2023] 151 taxmann.com 159 / (2024)460 ITR 516 (Karn)(HC)

S. 147: Reassessment-Investment-No evidence that investment is bogus-Order of Tribunal quashing the reassessment is affirmed. [S. 68, 148]

PCIT v. Dart Infrabuild Pvt. Ltd. (2024)460 ITR 532 (Delhi)(HC)

S. 147 : Reassessment-Notice is sent to old address-Intimation is sent to new address-Objection was raised before the Assessing officer-Notice is improperly served-Section 292BB is not applicable-Failure to issue notice under section 143(2)-Reassessment is bad in law.[S. 142(1), 143(2), 148, 292BB]

DCW Ltd. v. ACIT (2024)460 ITR 357 (Bom)(HC)

S. 147 : Reassessment-After the expiry of four years-Audit objection-Reply by the Assessing Officer-Change of opinion-Reassessment notice and order disposing the objection. is quashed.[S. 32AC, 143(3), 148, Art. 226]

Bennett Coleman and Co. Ltd. v. Dy. CIT [2022] 145 taxmann.com 228 / (2024)460 ITR 345 (Bom)(HC)

S.147: Reassessment-After the expiry of four years-Change of opinion-Amalgamation-Set-Off of loss and unabsorbed depreciation in amalgamation-Audit objection not accepted-Notice and order rejecting objections is set aside. [72A(4), 143(3), 148, Art. 226]

Asst. CIT v. Adani Power Maharashtra Ltd. (2024)460 ITR 729/297 Taxman 394 (SC) Editorial: Adani Power Maharashtra Ltd v. Asst.CIT(2024) 460 ITR 720 (Guj)(HC)

S. 147: Reassessment-Audit objection-Notice based on audit objection-Special Leave petition dismissed. [S. 148, Art. 136]