S. 147 : Reassessment-After the expiry of four years-No duty to disclose investments-Notice for failure to disclose investments is held to be not valid.[S. 148, Art. 226]
Bhavik Bharatbhai Padia v. ITO (2019)419 ITR 149 (Guj.)(HC)S. 147 : Reassessment-After the expiry of four years-No duty to disclose investments-Notice for failure to disclose investments is held to be not valid.[S. 148, Art. 226]
Bhavik Bharatbhai Padia v. ITO (2019)419 ITR 149 (Guj.)(HC)S. 147 : Reassessment-After the expiry of four years-Without there being any element of lack of true and full disclosure on the part of the assessee-Reassessment notice is held to be bad in law. [S. 115-O, 148]
Firstsource Solutions Ltd. v. Dy.CIT (2019) 176 DTR 151 (Bom.)(HC)S. 145A : Method of accounting – Valuation – Excise duty though not paid is liable to be included in valuation of closing stock. [S. 145A(b)]
Kisan Sahkari Chini Mills Ltd. v. CIT (2019) 267 Taxman 384 / 111 taxmann.com 384 (All.)(HC) Editorial: SLP is granted to the assessee, Kisan Sahkari Chini Mills Ltd. v. CIT (2019) 267 Taxman 383 (SC)S. 145 : Method of accounting–Suppression of sales-Revenue was not able to show any defect in assessee’s records or in books of account maintained by assessee-Rejection of books of account is held to be not justified-Deletion of addition on account of suppression of addition is held to be justified. [S. 43CA, 50C, 145(3)]
PCIT v. Swananda Properties (P.) Ltd. (2019) 267 Taxman 429 (Bom.)(HC)S. 145 : Method of accounting–Real estate developer-Project completion method-Addition on the basis of percentage completion method is held to be not justified. [AS-7]
PCIT v. Panchsheel Colonizers (P.) Ltd. (2019) 267 Taxman 571/ 111 taxmann.com 459 (Raj) (HC) Editorial : SLP is granted to the revenue, PCIT v. Panchsheel Colonizers (P.) Ltd. (2019) 267 Taxman 570 (SC)S. 143(3) : Assessment-Acquittal in Criminal proceedings would not justify deletion of additions to income based on facts-Matter remanded to the AO for fresh enquiry. [S. 254(1) ]
CIT v. R. N. Jayaprakash (2019)419 ITR 252 / (2020) 269 Taxman 527 (Mad.)(HC)S. 143 (3) : Assessment–Non-existing company–Amalgamation-Assessment on the non-existing is held to be void ab initio.
PCIT v. Transcend MT Services (P.) Ltd. (2019) 267 Taxman 314 (Delhi) (HC)S. 143(2) : Assessment–Notice–Mandatory-Block assessment–Non issue of notice – Assessment is held to be bad in law. [S. 132, 158BC]
CIT v. Sodder Builder And Developers (P.) Ltd. (2019)419 ITR 436 (Bom.) (HC)S. 142(2A) : Inquiry before assessment–Special audit–An attempt to understand the books of account-Huge amount of professional fees was paid-Reference to special Audit is held to be valid.
Multi Commodity Exchange of India v. Dy.CIT ( 2019) 310 CTR 274/ 176 DTR 385 / (2020) 426 ITR 132 (Bom.) (HC)S. 142(2A) : Inquiry before assessment–Special audit–Finding that direction had been issued after condition laid down were fulfilled—Writ is held to be not maintainable. [Art. 226]
Religare Finvest Ltd. v. Dy. CIT (2019)419 ITR 5/( 2020) 312 CTR 432 / 185 DTR 119/ 269 Taxman 541 (Delhi)(HC) Religare Enterprises Ltd v. Dy CIT (2019) 419 ITR 5 /( 2020) 312 CTR 432 / 185 DTR 119(Delhi) (HC)