S. 147 : Reassessment-With in four years-Deemed Dividend-Trade Advances-Credit Balances-Common Shareholding-Reassessment Invalid. [S.2(22)(e), 148, Art. 226]
Relitrade Stock Broking (P.) Ltd. v. ITO (2025) 306 Taxman 133 (Guj.)(HC)
Digest of case laws
Online digest of latest case laws
This Digest of case laws is prepared by KSA Legal and AIFTP from judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
Click here to download the pdf versions of the Digest of case laws S. 147 : Reassessment-With in four years-Interest on borrowed capital-Change of opinion-Full disclosure during original assessment-Reopening held invalid.[S.36(1)(iii), 147, Art. 226]
Sundararajan (P.) v. DCIT (2025) 306 Taxman 115 (Mad.)(HC)S. 147: Reassessment-After the expiry of four years-Alleged bogus purchases-Unexplained expenditure-Full disclosure-Reason to suspect-Order of Tribunal quashing the reassessment order was affirmed. [S.69C, 148, 260A]
PCIT v. Purple Suppliers (P.) Ltd. (2025) 306 Taxman 145 (Cal.)(HC)S. 147 : Reassessment-After the expiry of four years-Non-compete Fee-Revenue expenditure-Change of opinion-Full disclosure of facts-Reassessment notice and order disposing the objection was quashed.[S. 37(1), 148, Art. 226]
Revathi Equipment Ltd. v. ACIT (2025) 306 Taxman 72 (Mad.)(HC)S.147: Reassessment-After the expiry of four years-Educational Society-Accumulation of income-Reassessment notice and order disposing the objection was quashed and set aside. [S. 11 (2), 14 Art. 226]
Symbiosis Open Education Society v. ACIT(2025) 306 Taxman 62 (Bom.)(HC)S. 147: Reassessment-Unexplained money-Unaccounted sales-Information from Partner’s Complaint-Opportunity of Hearing-No Reliance Solely on Third-Party-Writ not maintainable-SLP of assessee dismissed. [S.69A, 148, Art. 136]
Shree Shakambhari Udyog Partnership Firm v. CIT (2025) 306 Taxman 339 (SC) Editorial: Shree Shakambhari Udyog Partnership Firm v. CIT (2025) 173 taxmann.com 955 (Pat) (HC)S.147 : Reassessment-Cash credits-Information from GST data-Non-furnishing of sales and purchase register-Assessee furnished GSTR-I and complete audited books-Reopening unjustified-Delay of 233 days-SLP of revenue was dismissed on account of delay as well as on merits. [S. 68,148, Art. 136]
ITO v. Parmukh Exports [2025] 306 Taxman 356 (SC) Editorial : Parmukh Exports v. ITO (2025) 177 taxmann.com 227 (Guj)(HC)S. 147 : Reassessment-Alternative remedy-Filing appeal-Writ petition was dismissed-SLP of assessee dismissed.[S. 144B,148, Art. 136]
Manju Arora v. ITO [2025] 306 Taxman 91 (SC) Editorial :Manju Arora v. ITO (2025) 176 taxmann.com 343 (Delhi)(HC)S. 147 : Reassessment-Income from other sources-Share premium-Change of opinion-No new tangible material-SLP of revenue dismissed.[S. 56, 68, 148, Art. 136]
Dy. CIT v. Infibeam Avenues Ltd. (2025) 306 Taxman 350//481 ITR 515 (SC) Editorial : Infibeam Avenues Ltd v. Dy. CIT (2024) 161 taxmann.com 476 /(2025) 481 ITR 508 (Guj)(HC)S. 147 : Reassessment-With in four years-Cash credits-Book profit-Even if the proposed addition is made, there would be no taxable income-Reassessment notice was quashed by High Court-SLP delay of 196 days-Delay was not condoned-SLP dismissed.[S. 68, 115JB, 148, Art. 136]
ACIT v. Adeshwara Cement Co. (P.) Ltd. (2025) 306 Taxman 271 (SC) Editorial : Adeshwara Cement Co. (P.) Ltd v.ACIT (2024) 166 taxmann.com 583 (Guj)(HC)