Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Vishwatej Developers Pvt. Ltd. v. ACIT. (2021) 438 ITR 163 /2022) 284 Taxman 220/ 328 CTR 945/ 218 DTR 169 (Mad.) (HC)

S. 143(3) : Assessment-Share capital-Cash credits-Investment by foreign company-Appeal-Existence of alternative remedy-Writ is not maintainable. [S. 68, 246A, Art. 226]

Vishwataj Developers Pvt. Ltd. v. ACIT (No. 1) (2021) 438 ITR 146/(2022) 218 DTR 183/ 328 CTR 959 (Mad.)(HC)

S. 143(3) : Assessment-Appeal is proper remedy-Writ is not maintainable. [S. 246A, Art. 226]

Vishwataj Developers Pvt. Ltd. v. ACIT (No. 1) (2021) 438 ITR 146 / (2022) 218 DTR 183/ 328 CTR 959(Mad.)(HC)/ Rakindo Koval Township Ltd v ACIT (2021) 438 ITR 146 / (2022) 218 DTR 183/ 328 CTR 959(Mad.)(HC)

S. 143(3) : Assessment-Appeal is proper remedy-Writ is not maintainable. [S. 246A, Art. 226]

Dishman Infrastructure Ltd. v. ACIT (2021) 437 ITR 487 / 206 DTR 65/ 323 CTR 39 / 129 taxmann.com 344 (Guj.)(HC)Editorial: SLP is dismissed Dishman Infrastructure Ltd. v . ACIT ( 2022) 285 Taxman 192// 443 ITR 227 (SC)

S. 142(2A) : Inquiry before assessment-Special audit-Natural justice-Search and Seizure-Directions were neither arbitrary, illegal nor beyond the scope of the provision- Period during which the petitions remained pending shall be excluded while counting the period prescribed in the proviso to section 142(2C) of the Act. [S.14A, 142(2C), Art. 226]

JP Jai Land and Building Promoters P. Ltd. v. CIT (2021) 438 ITR 80/ (2022) 285 Taxman 193 (Mad.)(HC)

S. 142(2A) : Inquiry before assessment-Special audit-Hearing provided-Order directing special audit sustainable. [Art. 226]

Ghanshyam Das Gupta v. ACIT (2021) 439 ITR 511/ 282 Taxman 161/ 204 DTR 97/ 321 CTR 522 (Delhi) (HC)

S. 142(1) : Enquiry before assessment-Natural justice-lockdown in State due to covid-19 pandemic-Large number of documents-Failure to reply-Order was set aside. [S. 143(3), Art .226]

CBDT v. Vasudev Adigas Fast Food (P) Ltd. (2021) 437 ITR 67 / 282 Taxman 48 / 323 CTR 235/ 207 DTR 342(Karn) (HC) Editorial : Decision of the single judge in Vasudev Adigas Fast Food (P) Ltd v. CBDT (2020) 314 CTR 852/ 186 DTR 89 /15 ITR-OL 187 (Karn) (HC)), affirmed. Editorial : Order of High Court , affirmed , CBDT v. Vasudeva Adigas Fast Food (P.) Ltd. (2022) 289 Taxman 148 / 220 DTR 463 /(2023) 450 ITR 4(SC)

S. 139 : Return of income-Condonation of delay-litigation between promotors and investors-Beyond control of assessee-PCIT and Additional CIT recommending condonation of delay-Rejection of application by CBDT was set aside. [S. 119(1), 119(2)(b), Art, 226]

Dr. R. P. Patel v. ADIT (Inv.) (2021)438 ITR 53 / ( 2022) 210 DTR 62/ 324 CTR 547 (Ker.)(HC)

S. 132B : Application of seized or requisitioned assets-Authorised Officer can retain seized assets only for fifteen days-Seized Assets must be handed over to Assessing Officer having jurisdiction over the assessee within fifteen days-Adjustment of liability out of seized assets-Liability must be determined on completion of assessment-No adjustment before completion of assessment-Kar Vivad Samadhan Scheme would stand revived [S. 132, 132 (9A), Kar Vivad Samadhan Scheme 1988].

Harshvardhan Chhajed v. DGIT (Inv.) (2021) 438 ITR 68/ 206 DTR 97/ 322 CTR 723 (Raj.)(HC)

S. 132 : Search and Seizure-Power to seize articles-Stock in trade Seizure cannot be made on mere suspicion-Explanation of assessee must be considered-Seizure was held to be illegal-Department was directed to pay interest of Rs. 1 lakh on market value of seizure of stock in trade. [S. 132(1)(iii), 132(4), Art. 226]

CIT, LTU v. Vijay Bank (2021) 130 taxmann.com 148 (Karn.)(HC) Editorial : SLP was granted to revenue, CIT, LTU v. Vijay Bank (2021) 282 Taxman 296 (SC)

S. 115JB : Book profit-Banking companies-Accounts drawn in conformity with Banking Regulation Act, 1939-Not liable for minimum alternative tax.