Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Conopco Inc v. UOI (2022) ( 2022 ) 285 Taxman 472/ 215 DTR 283/ 329 CTR 773 /BCAJ-January-P. 47 (Bom.)(HC)

S. 147 : Reassessment-Within four years-Change of opinion-Long term Capital gains-Applicability of Rate of tax at 10% or 20%-Examined in the original assessment proceedings-Reassessment is bad in law. [S. 48, 112, 148, Art. 226]

Peninsula Land Ltd. v. ACIT (2021) 439 ITR 582 / (2022) 134 taxmann.com 33 / 284 Taxman 556 (Bom.)(HC)

S. 147 : Reassessment-After the expiry of four years-Recorded reasons must indicate the manner in which the Assessing Officer has come to the conclusion that income chargeable to tax has escaped assessment-Reason recorded cannot be substituted-Reassessment Notice was quashed. [S. 148, Art. 226]

Rich Feel Health and Beauty (P.) Ltd. v. ITO (2021) 132 taxmann.com 228 (2022) 284 Taxman 286 (Bom.)(HC)

S. 147 : Reassessment-After the expiry of four years-Business expenditure-Advertisement and marketing expenditure-Change of opinion-Reassessment notice was quashed. [S. 37(1), 148, Art. 226]

Trendsutra Client Services (P.) Ltd. v. NEAC (2021) 283 Taxman 558 / ( 2022) 19 ITR -OL 203 (Bom.)(HC)/Editorial: ACIT v. Trendsutra Client Services P. Ltd. (2023)453 ITR 219 (SC) , SLP of the Revenue dismissed , with the liberty to the Revenue to proceed in accordance with law .

S. 144B : Faceless Assessment-Order passed without show cause and draft assessment order-Order was quashed. [S. 143(3), 144B(xi)(b), Art. 226]

Mateen Pyarali Dholakia v. UOI (2021) The Chamber’s Journal-October-P. 105 (Bom.)(HC)

S. 144B : Faceless Assessment-Order passed without considering the reply-Incorrect affidavit by the Assessing Officer-Show cause notice was issued for perjury proceedings-Cost of Rs 10000 was imposed payable to PM Cares Fund-Order was set aside. [Art. 226]

Bhavi Homes Pvt. Ltd. v. NFAC (2021) The Chamber’s Journal-December-P. 165 (Bom.)(HC)

S. 144B : Faceless Assessment-Order passed without providing the draft assessment order-Order was quashed-Directed the revenue to prepare draft assessment order as prescribed by law. [Art. 226]

KRS Home Developers (P) Ltd. v. NFAC (2021) 283 Taxman 413 (Delhi)(HC)

S. 144B : Faceless Assessment-Personal hearing was not granted-Violation of principle of natural justice-Assessment order was quashed-Directed to grant an opportunity of hearing by way of Video Conferencing. [S. 144B(7), 144B(9), Art. 226]

Eshakti.com Pvt. Ltd. v. ACIT (2021) The Chamber’s Journal-July-P. 153 (Mad.)(HC)

S. 143(3) : Assessment-Show cause notice is mandatory-Assessing Officer is expected to crystalise the issues and issue a show cause notice setting out the issues and solicit the response of the assessee-Assessment order was set aside. [Art. 226]

Deep Industries Ltd. v. DCIT (2021) The Chamber’s Journal-December-P. 63 (Guj.)(HC)

S. 139 : Return of income-Revised return-Permitted to file revised return in an electronic mode once the direction of the NCLT was communicated. [Art. 226]

Small Industries Development Bank of India v. CBDT (2022) The Chamber’s Journal-January-P. 74. (Bom.)(HC)

S. 115-O : Domestic companies-Tax on distributed profits-Non-Obstante clause-Overriding effect-Amount distributed or paid by way of dividend falls under the category of profits under section 50 of the SIDBI Act-Not liable to pay additional tax. [SIDBI Act, S. 29(2), Unit Trust India Act, 1963, S. 32]