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. 147 : Reassessment-Long-term capital gains-Sale of shares-Information from Investigation Wing-accommodation entries-Demat-Sales through registered broker-Shares were sold before splitting up of shares-No link between reasons recorded and formation of belief-Reassessment is invalid.[S. 10(38) 45, 148]
Subhash Chand Gupta v. ACIT (2024) 116 ITR 14 (SN)/ [2025] 210 ITD 118 (Delhi)(Trib)
S. 147 : Reassessment-After the expiry of four years-Excess Indexed cost of acquisition-No failure to disclose material facts-Reassessment is quashed.[S. 45, 143(3), 148]
Ashok Kumar Kolla v. Dy. CIT (2024) 116 ITR 73 (SN)(Hyd)(Trib)
S. 147 : Reassessment-After the expiry of four years-Bogus purchases-Information from investigation wing-Incorrect reasons recorded and incorrect figures-Re assessment is quashed. [S. 143(3), 148]
Aggarwal Construction Co. v. Dy. CIT (2024)116 ITR 70 (SN)(Amritsar) (Trib)
S. 147 : Reassessment-After the expiry of four years-Bogus purchases-Change of opinion-No failure to disclose material facts-Reassessment is quashed.[S.69A, 69C, 148]
Dy. CIT v. Aggarwal Construction Co. (2024)116 ITR 432 (Trib) (Amritsar)(Trib)
S. 144 : Best judgment assessment-Ex-parte order-Agricultural Income-Remand report-Matter remanded to the Assessing Officer to pass a fresh assessment order after granting an reasonable opportunity of hearing.
Dnyaneshwar Baburao Kathe v. ITO (2024)116 ITR 19 (SN)/ [2025] 210 ITD 85 (Pune)(Trib)
S. 143(3):Assessment-Limited scrutiny-Additional legal ground is admitted-Cash deposits-Assessing Officer converted the limited scrutiny to regular assessment-Order is quashed and set aside-Instruction No. 5 Of 2016, Dated 14-7-2016 (2016) 385 ITR 56 (St) [S. 56(2)(vii)(b)(ii), 68,69A, 133(6), 142(1), 143(2), 254(1)]
Srimanta Kumar Shit v. ACIT(2024)116 ITR 51 (SN)/ 169 taxmann.com 185 (Kol)(Trib)
S.143(3): Assessment-Agricultural income-Estimation-Matter remanded to the Assessing Officer for fresh adjudication-The Tribunal also directed the assessee to pay cost of Rs. 6,000 with the direction to deposit costs in the Prime Minister’s National Relief Fund and receipt thereof to be produced before the Assessing Officer before the commencement of the proceedings.
Ramji Lal v. ITO (2024)116 ITR 79 (SN) (Jaipur)(Trib)
S. 143(3) : Assessment-Search-Statement in the course off search-Purchase of property-No incriminating material was fund-Dumb document-Addition is deleted. [S. 132, 158BC]
Jagbir Singh Nehra v. Dy. CIT (2024)116 ITR 60 (SN)(Chd)(Trib)
S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Non-Resident of Japan-Incurred loss-Only profits earned by Permanent Establishment in India is liable to tax-Addition is deleted-DTAA-India-Japan.[Art.7]
Hitachi Ltd. v. ACIT (IT) (2024) 116 ITR 393 / [2025] 171 taxmann.com 226 (Delhi)(Trib)
S. 271B : Penalty-Failure to get accounts audited-Death of assessee-Legal representative-Legal representative of deceased offender or criminal could not be penalised for offences or crimes committed by deceased.[S.44AB, 139(1), 159(4)]
Beantkaur Avtarsingh Juneja v. ITO (2024) 115 ITR 18 (Nag)(Trib)