S. 153A : Assessment-Search-Deletion of addition is held to be justified-No question of law. [S. 260A]
PCIT v. Shiv Sahai and Sons (I.) Ltd. (2020) 428 ITR 363 / (2021) 277 Taxman 50(Mad.)(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-Alternative remedy-Reassessment proceedings completed and appeal filed from order of reassessment -Writ is held to be not maintainable. [S. 148, Art. 226]
Suresh Kumar Agarwal v. Dy. CIT (2020) 428 ITR 101/ 317 CTR 1000 / 196 DTR 276 (Chhattisgarh) (HC)S. 147 : Reassessment-Notice issued after proper sanction-No return submitted in response to notice-Existence of alternate remedy-Writ to quash the notice is held to be not maintainable. [S. 148, 151, Art. 226]
Naval Kishore Khaitan v. PCIT (2020) 428 ITR 62 (AP)(HC)S. 147 : Reassessment –With in four years- Change of opinion- Speculative transactions – Reassessment is held to be not valid. [S. 43(5), 148]
PCIT v. Shree Laxmi Jewellery Pvt. Ltd. (2020) 428 ITR 379 (Mad.)(HC)S. 147 : Reassessment-With in four years-Agricultural land-Change of opinion-Reassessment is held to be not valid. [S.2(14), 148]
CIT v. Ramesh Shroff (2020) 428 ITR 499 (Mad.)(HC)S. 147 : Reassessment-With in four years-Capital gains-Advance received-Addition cannot be made as income from other sources- Addition is held to be not justified-Reassessment was quashed. [S. 2(27(v), 45, 56, 148]
CIT v. City Lubricants Pvt. Ltd. (2020) 428 ITR 109 / 195 DTR 457 / (2021) 318 CTR 87 (Mad.)(HC)S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Denial of exemption-Reassessment notice is held to be not valid. [S. 10(15)(iv)(c), 148, 154, Art. 226]
State Bank of India v. Vineet Agrawal, ACIT (2020) 428 ITR 519 /317 CTR 388/ 195 DTR 81 /( 2021) 276 Taxman 229 (Bom.)(HC)S. 147 : Reassessment-After the expiry of four years-No failure to furnish material facts-Reply to Audit to drop the proceedings- Purchase and sale of shares disclosed in the course of original assessment proceedings-Reassessment is held to be not valid [ S. 56(2)(vii)(a), 147]
Madurai Power Corporation Private Limited v. Dy. CIT (2020) 428 ITR 117/ ( 2021 ) 323 CTR 533 (AP)(HC)S. 147 : Reassessment-After the expiry of four years-Transfer of shares-Gift-No failure to disclose facts-Change of opinion- Reassessment notice is held to be not valid. [S. 45, 148]
Asian Satellite Broadcast Pvt. Ltd. v. ITO (2020) 428 ITR 327/ 195 DTR 153 / (2021) 276 Taxman 316 /318 CTR 305 (Bom.)(HC)S.127 : Power to transfer cases-Agreement between two higher authorities-Opportunity to be heard must be provided. [S. 127(2), Art. 226]
Parappurathu Varghese Mathai v. PCIT (2020) 428 ITR 79 / 316 CTR 833 / 193 DTR 337 (Bom.)(HC) Sarakutty Mathai v. PCIT (2020) 428 ITR 79 / 316 CTR 833 / 193 DTR 337 (Bom.)(HC) Olive Builders v. PCIT (2020) 428 ITR 79 / 316 CTR 833 / 193 DTR 337 (Bom.)(HC)