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. 153D : Assessment-Search-Approval-Recording of satisfaction-Satisfaction note does not specify the seized material-Non application of mind-Assessment order is bad in law.[S. 132, 153C]

K.K. Leissure Tourism International (P) Ltd. v DCIT (2024) 228 TTJ 502 / 235 DTR 241 / 38 NYPTTJ 207 (Cochin)(Trib)

S. 153A: Assessment-Search-Undisclosed income-Excess stock of jewellery found during search-Average cost price for valuation of stock-Difference in valuation of stock is deleted-Additional income disclosed cannot be assessed assessed at 60% as per provision of S. 115BBE of the Act. [S. 115BBE, 132,]

Sham Fashion Mall v. DCIT (2022) 36 NYPTTJ 1068 / (2024) 228 TTJ 576 (Chd) (Trib) Sham Jewellers v. DCIT (2022) 36 NYPTTJ 1068 / (2024) 228 TTJ 576 (Chd) (Trib)

S. 153A: Assessment-Search-Wrongly initiated-Illegal search-Nexus is not established-Assessment is held to be bad in law.[S.132]

DCIT v. Sanjay Singhal (2023) 37 NYPTTJ 1688 (2024) 228 TTJ 241 / 235 DTR 73 (Jodhpur)(Trib) Rajkumari Singal v. Dy.CIT (2023) 37 NYPTTJ 1688 (2024) 228 TTJ 241 / 235 DTR 73 (Jodhpur)(Trib)

S. 147: Reassessment-Objection not disposed by the Assessing Officer-Reassessment is bad in law-Power of enhancement with the CIT(A) cannot cure the defects of non disposal of objection by the Assessing Officer. [S. 148, 251]

Champalal Omprakash v. ITO (2024) 159 taxmann.com 1397 / 228 TTJ 513 / 235 DTR 113 /38 NYPTTJ 84 (Kol)(Trib)

S. 145 : Method of accounting-No defects in the books of account-Estimation of income at 10% of the gross contract receipt is affirmed.[S.145(3)]

ACIT v. Radheshyam Agarwal 2022) 36 NYPTTJ 654 / (2024) 228 TTJ 964 (Raipur)(Trib)

S. 143(3): Assessment-Rejection of books of account-Bogus purchases-Estimate of profit-Business of purchase, sale, manufacturing and trading of gold jewellery and diamonds-Declared profit of 11.98 percent-Rejection of books of account and estimate of 25% of alleged bogus purchases is deleted.[S. 145(3)]

Khandelwal Diamonds P. Ltd. v. DCIT (2023) 37 NYPTTJ 1028 ((2024) 228 TTJ 370 / 235 DTR 202 (Jaipur)(Trib)

S. 115JB : Company-Book profit-Book profit under S. 115JB is to be computed without resorting to computation under S. 14A-Disallowance under S.14A cannot exceed the exempt income. [S. 14A, R.8D]

Royal Twinkle Star Club (P) Ltd. v. DCIT (2023) 152 taxmann.com 374 / 37 NYPTTJ 334 / (2024) 228 TTJ 991 (Mum) (Trib)

S. 90 :Double taxation relief-Capital gains-Sale of shares-Exempt from tax-DTAA-India-Mauritius.[S.90(2), 90(2A) Art. 13, 27A]

Accion Africa-Asia Investment Co. v ACIT (IT) (2023) 37 NYPTTJ 1499 (2024) 161 taxmann.com 582 / 228 TTJ 118 / 233 DTR 385 (Delhi)(Trib)

S. 90 : Double taxation relief-Valid registration certificate-Denial of exemption is not justified-DTAA-India-UAE [Art. 24(2)(b)((ii)]

Abu Dhabi Investment Authority v. DCIT (IT) (2024) 160 taxmann.com 104 /228 TTJ 721 /236 DTR 1 / 38 NYPTTJ 227 (Mum)(Trib)

S. 80G : Donation-Preservation of environment-Engaged in the recycling of plastic waste-Charitable activity-Entitle to registration under section 80G (5). [S. 11, 12, 80G(5)(ii), Bombay Public Trust Act 1950]

Huhtamaki Foundation v. CIT (E) (2023) 37 NYPTTJ 1626 /(2024) 163 taxmann.com 174 / 228 TTJ 98 / 235 DTR 118 (Mum) (Trib)