Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Jitender Kumar Gupta (HUF) v. ACIT (2021) 189 ITD 714 (Hyd.) (Trib.)

S. 148 : Reassessment-Notice-Information from Investigation wing-Bogus long term and Short term capital gains-Reasons for reopening was not supplied-Directed to supply reasons for reopening-Directed to pass in accordance with law-Matter remanded. [S. 69B, 147]

Satish Kumar Khandelwal v. ITO (2021) 189 ITD 118 / 213 TTJ 584/ 206 DTR 289 (Jaipur)(Trib.)

S. 147 : Reassessment-With in four years-Recorded reasons-Return filed regularly-Recorded reasons without application of mind-Reassessment was quashed. [S. 139, 148]

Samanthapudi Lavanya (Smt.) v. ACIT (2021) 189 ITD 401 (Vishakha)(Trib.)

S. 147 : Reassessment-Search and seizure-Search assessment was required to be made under section 153A or 153C-Reassessment was quashed-Reassessment without communication of reasons recorded when request was made-Reassessment is bad in law-Delay of 492 days in filing of appeal due to mistake of accountant was condoned. [S. 132(4), 148, 153A, 153C, 254(1)]

Silver Bella Holdings Ltd. v. ACIT(IT) (2021) 189 ITD 678 (Delhi) (Trib.)

S. 144C : Reference to dispute resolution panel-No variation in income-Draft assessment order was not warranted. [S. 92C, 143 (3)]

Shri Lakshmanan v. ITO (2021) 189 ITD 499 (Chennai)(Trib.)

S. 144 : Best judgment assessment-Civil construction-Rejection of books of account-Estimation of 5% of net profit on gross receipts-Tribunal estimated at 3%. [S. 145(3)]

Cosmat Traders (P.) Ltd. v. ITO (2021) 189 ITD 504 (Kol.)(Trib.)

S. 144 : Best judgment assessment-Change of jurisdiction-Fresh notice was not issued-Assessment is held to be bad in law. [S. 120, 143(2)]

ITO v. Star Consortium (2021) 189 ITD 105 (Kol.)(Trib.)

S. 143(3) : Assessment-Cash credits-Mismatch of tax deducted at source-Turnover-Difference in 26AS and actual turnover-Addition cannot be made only on the basis of information as per form No. 26AS. [S. 68]

Sunita Gadde (Smt.) v. ITO (2021) 211 TTJ 898 / 88 ITR 21 (SN)/ 202 DTR 51 (Delhi)(Trib.)

S. 143(3) : Assessment-Information received from seller-Material Collected at the back of the assessee-Opportunity of cross examination was not provided-Addition cannot be made. [S. 131 147, 148]

Eversafe Securities (P.) Ltd. v. ITO (2021) 189 ITD 642 (Kol.) (Trib.)

S. 143(2) : Assessment-Notice-Jurisdiction-Order passed without issuing notice under section 143 (2)-Assessment is without jurisdiction and null and void. [S. 68, 143 (3)]

DCIT v. Indian Oil Petronas (P.) Ltd. (2021) 189 ITD 490/ 214 TTJ 123 / 207 DTR 131 (Kol.) (Trib.)

S. 115-O : Domestic companies-Tax on distributed profits-Rate in force-Non-Resident share holders-Double Taxation avoidance agreement-DTAA being more beneficial to assessee would be applicable over rate specified in section 115-O-Matter remanded. [S. 2(37A), 4, 90]