Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Parinee Realty (P.) Ltd. v. ACIT (2022] 286 Taxman 337/ 217 DTR 279 (Bom.)(HC)

S. 147 : Reassessment-With in four years-Interest free loans to sister concern-Charge of interest-Change of opinion-Reassessment notice was quashed. [S. 36(1)(iii), 148, Art. 226]

CIT v. Trichy Steel Rolling Mills Ltd. (2022) 286 Taxman 595 (Mad.)(HC)

S. 147 : Reassessment-After the expiry of four years-Bad debts-Change of opinion-No tangible material-Reassessment was quashed. [S. 36(1)(vii), 148]

Gagan Omprakash Navani v. ITO (2022) 445 ITR 147 (Bom.)(HC)

S. 147 : Reassessment-After the expiry of four years-Capital gains-No failure to disclose material facts-Reassessment notice was quashed [S. 45, 54, 148, Art. 226]

Gagan Omprakash Navani v. ITO (2022) 445 ITR 147 (Bom.)(HC)

S. 147 : Reassessment-After the expiry of four years-Capital gains-No failure to disclose material facts-Reassessment notice was quashed [S. 45, 54, 148, Art. 226]

Mangalore Refinery and Petrochemicals Ltd. v. DCIT (2022) 286 Taxman 607 (Bom.)(HC)

S. 147 : Reassessment-After the expiry of four years-Business expenditure-Leased assets-Repurchase expenses-No failure to disclose material facts-Reassessment notice is not valid. [S. 37(1), 148, Art, 226]

Maharashtra State Power Generation Company Ltd. v. DCIT (2022) 286 Taxman 333 (Bom.)(HC)/Editorial : SLP of Revenue is dismissed , Dy.CIT v. Maharashtra State Power Generation Company Ltd (2023) 294 Taxman 597 ( SC)

S. 147 : Reassessment-After the expiry of four years-Rate of depreciation-Software licence-Audit information-Reassessment notice was quashed. [S. 32, 148, Art, 226]

Halite Personal Care India (P.) Ltd. v. DCIT (2022)448 ITR 303/ 218 DTR 531/ 286 Taxman 464 (Bom.)(HC)

S. 147 : Reassessment-After the expiry of four years-Provision for sales and operating expenses-No failure to disclose material facts-Reassessment notice was not valid. [S. 148, Art, 226]

Glaxosmithkline Pharmaceuticals Ltd. v. ACIT (2022] 286 Taxman 324 (Bom.)(HC)

S. 147 : Reassessment-After the expiry of four years-Audit objection-Security deposit-Interest expenditure-Change of opinion-Reassessment was quashed. [S. 37(1), 148, Art, 226]

PCIT v. Inland Road Transport Ltd. (2022) 286 Taxman 613 (Cal.)(HC)

S. 145 : Method of accounting-Records were destroyed by fire-Rejection of books of account not justified. [S. 133A]

Renaissance Services Bv v. Dy. CIT (IT) (2022) 445 ITR 27 / 213 DTR 313/326 CTR 637/ 288 Taxman 244(Bom.)(HC)

S. 144C : Reference to dispute resolution panel-Draft assessment order-Limitation-No objection raised by assessee-Assessment order passed on 27-9-2021-Barred by limitation. [Art. 226]