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
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S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Typographical error-Sanction for issue of notice-Principal commissioner-Non application of mind-[S. 148 148A(b), 148A(d), 151, Art. 226]
Teleperformance Global Service (P.) Ltd. v. ACIT (2024) 298 Taxman 769 (Bom.)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-More than three years from end of relevant assessment year after obtaining approval from Chief Commissioner-Chief Commissioner was not a specified authority under clause (ii) of section 151-Reassessment notice and order disposing the objection is quashed. [S. 148, 148A(b), 148A(d), 151(ii), 195, Art. 226]
FIVES India Engineering & Projects (P.) Ltd. v. ITO (2024) 298 Taxman 762 / 464 ITR 760/338 CTR 953 (Mad.)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Unexplained investments-On money payment for purchase of a flat-Search on builder-No material-Notice and order disposing the objection is quashed and set a side. [S. 148, 148A(b), 148A(d), Art. 226]
Sumathi Janardhana Kurup v. ITO (2024) 298 Taxman 502 (Bom.)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Penny stock-Fictitious loss-Cash credits-Notice and order is quashed.[S. 148, 148A(b), 148A(d), Art. 226]
Banas Finance Ltd. v. ACIT (2024) 298 Taxman 395 (Bom.)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-House wife-Property purchased by husband-Joint holder-Reassessment notice and order disposing the objection is quashed. [S.69B, 148, 148(A)(b), 148A(d), Art. 226]
Kalpita Arun Lanjekar v. ITO (2024) 298 Taxman 626 (Bom.)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Cash credits-Accommodation entries-Order is quashed and set aside-Directed to pass a speaking order. [S. 68, 143(1), 148A(b), 148A(d), Art. 226
Vijay Steel Traders v. ACIT (2024) 298 Taxman 758 (Bom.)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Corpus donation-Revenue audit objection-Reopening is justified-Writ petition is dismissed. [S. 11, 143(3) 148, 148A(b), 148A(d), Art. 226]
Sree Narayana Guru Memorial Educational and Cultural Trust v. ACIT (2024) 298 Taxman 483 (Ker.)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Capital gains-Full value of consideration-Stamp valuation-Directed to file proper reply.[S. 148, 148A(b), 148A(d), Art. 226]
Venkataramachettiar Manoharan v. ITO (2024) 298 Taxman 19 / 465 ITR 755 (Mad.)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Capital gains-Change of opinion-Reassessment notice and order disposing the objection is quashed.[S. 148, 148A(b), 148A(d), Art. 226]
Mira Bhavin Mehta v. ITO (2024) 298 Taxman 460 / 464 ITR 778 (Bom.)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Profit attribution-Revision order is set aside by the Tribunal-Change of opinion-Notice and order disposing the objection is quashed-DTAA-India-Malaysia. [S.143(3), 148, 148A(b), 148A(d), 263,art. 5, Art. 226]
MFE Formwork Technology SDN. BHD v. Dy.CIT(2024) 298 Taxman 790 /464 ITR 645 (Bom)(HC)