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. 148 : Reassessment-Notice-Notice was not issued at last known address of assessee-Participated in reassessment proceedings despite not having been issued or served with notice under section 148 in accordance with law would not constitute a waiver of said jurisdictional requirement-Reassessment is bad in law. [S. 147, 292BB]

PCIT v. Atlanta Capital (P.) Ltd. (2020) 119 taxmann.com 292 (Delhi)(HC) Editorial : SLP of revenue is dismissed as withdrawn due to low tax effect. PCIT v. Atlanta Capital (P.) Ltd. (2020) 274 Taxman 224 (SC)

S. 148 : Reassessment-Notice-Issue of notice in the name of dead person-Notice was quashed. [S. 131(IA), 147, 159, 292BB, Art. 226]

Durlabhai Kanubhai Rajpara v. ITO (2020) 114 taxman.com 481 (Guj.)(HC) Editorial : SLP of revenue is dismissed, (2020) 270 Taxman 9 (SC)

S. 148 : Reassessment-Recorded reasons not furnished-Reassessment is bad in law. [S.147]

CIT v. National Organic Chemical (2020) 115 taxmann.com 244 (Bom.)(HC) Editorial : SLP of revenue is dismissed due to low tax effect, CIT v. National Organic Chemical CIT v. National Organic Chemical (2020) 272 Taxman 530 (SC)

S. 147 : Reassessment-Change of opinion-Manufacturing business-Loss on sale of shares-Business loss or capital loss-Reassessment was quashed on the ground of change of opinion. [S. 28(i), 45, 148]

PCIT v. Atul Ltd. (2020) 119 taxmann.com 286 (Guj.)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Atul Ltd. (2020) 274 Taxman 230 (SC)

S. 147 : Reassessment-Business expenditure-Royalty-Reassessment was quashed on the ground that the AO could not have revisited the same issue on the pretext that a binding decision was overlooked. [S. 37(1), 148]

PCIT v. Moser Baer India Ltd. (2020) 114 taxmann.com 548 (Delhi) (HC) Editorial : SLP of revenue is dismissed, PCIT v. Moser Baer India Ltd (2020) 270 Taxman 4 (SC)

S. 147 : Reassessment-Change of opinion-Operational expenses-No new facts-Reassessment is held to be not valid. [S. 147]

PCIT v. Zee Media Corporation Ltd. (2020) 114 taxmann.com 192 (Bom.)(HC) Editorial: SLP of revenue is dismissed, PCIT v. Zee Media Corporation Ltd. (2020) 270 Taxman 180 (SC)

S. 147 : Reassessment-Method of accounting-Estimation of profit-Reassessment is held to be not valid. [S. 145, 148]

PCIT v. Ganga Glazed Tiles (P.) Ltd. (2020) 117 taxmann.com 107 (Guj.)(HC) Editorial: SLP of revenue is dismissed, PCIT v. Ganga Glazed Tiles (P.) Ltd (2020) 272 Taxman 13 (SC)

S. 147 : Reassessment-After the expiry of four years-Research and development expenditure-Change of opinion-Reassessment notice in respect of first ground was up held and in respect of second ground is held to be not valid. [S.133A, 148, Art. 226]

Sun Pharmaceutical Industries Ltd. v. Dy.CIT (2020] 117 taxmann.com 115 (Guj.)(HC) Editorial : SLP of revenue is dismissed. Dy.CIT v. Sun Pharmaceutical Industries Ltd. (2020) 272 Taxman 407 (SC)

S. 145 : Method of accounting-Valuation of shares-No substantial question of law. [S. 260A]

PCIT v. Microfilm Capital (P.) Ltd. (2020) 113 taxmann.com 88 (Cal.)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Microfilm Capital (P.) Ltd. (2020) 269 Taxman 1 (SC)

S. 145 : Method of accounting-Set aside order by Appellate Tribunal-Fresh order passed by the Assessing Officer-Order of Tribunal is affirmed. [S.254 (1)]

Madhur Vegoils (P.) Ltd. v. ITO (2020) 113 taxmann.com 248 (Raj.)(HC) Editorial : SLP of assessee is dismissed, Madhur Vegoils (P.) Ltd. v. ITO (2020) 269 Taxman 102 (SC)