S. 153A : Assessment-Search or requisition-Assessment for relevant year completed-No addition could be made. [S. 68, 132]
Dy. CIT v. Jammu Metalic Oxides Pvt. Ltd. (2019) 72 ITR 449 (Jaipur) (Trib.)S. 153A : Assessment-Search or requisition-Assessment for relevant year completed-No addition could be made. [S. 68, 132]
Dy. CIT v. Jammu Metalic Oxides Pvt. Ltd. (2019) 72 ITR 449 (Jaipur) (Trib.)S. 153A : Assessment–Search-Share application money–No incriminating material was found–Addition cannot be made–Opportunity to cross examination must be given of the entry operators. [S. 68, 132]
Dy. CIT v. Rashmi Metaliks Ltd. (2019) 72 ITR 226 / 201 TTJ 160 (Kol.)(Trib.) Dy. CIT v. Ramani Joseph (2019) 72 ITR 226 / 201 TTJ 160 (Kol.)(Trib.)S. 153A : Assessment–Search-No incriminating material was found-Addition cannot be made. [S. 68, 132]
Dy. CIT v. Pacific Industries Ltd. (2019) 72 ITR 634 (Jodh.)(Trib.) Dy. CIT v. Pacific Leasing And Research Ltd. (2019) 72 ITR 634 (Jodh.)(Trib.)S. 153 : Assessment–Limitation–Special audit under section 142(2A) is not in accordance with law, time limit for making assessment cannot be extended for time taken for special audit. [S. 142(2A)]
Consulting Engineering Services India (P) Ltd. v. ACIT (2019) 175 DTR 217 / 198 TTJ 21 (Delhi)(Trib.)S. 151 : Reassessment-Sanction for issue of notice-Share capital-Share premium-Approval-mechanical approval mentioning “Yes”–Non application of mind – Reassessment is held to be bad in law. [S. 147, 148]
Blue Chip Developers (P) Ltd. v. ITO (Trib.)(Delhi), www. itatonline.orgS. 151 : Reassessment-Sanction for issue of notice–Sanction by CIT instead JCIT–Reassessment is held to be bad in law. [S. 147, 151]
PCIT v. Khushbu Industries (Bom)(HC), www. itatonline. orgS. 148: Reassessment – Notice – Notice has been issued on wrong premise, reopening of assessment is not valid-Notice cannot be issued for certain examination [ S.147 ]
Computerland Integrators (India) Ltd. v. Dy. CIT (2019) 180 DTR 17 (Delhi)(Trib.)S. 147 : Reassessment –With in four years-Reopening for taxing Bogus share capital-Even in a S. 143(1) intimation, the AO is not entitled to reopen on the ground that the assessee has received “huge share premium” which was not “examined” by the AO. The AO cannot reopen in the absence of tangible material that shows income has escaped assessment. [S. 68, 143(1)]
Dy. CIT v. Kargwal Products P. Ltd. (2019) 69 ITR 77 (SN) (Mum.)(Trib.)S. 147 : Reassessment-Reasons for reopening was communicated to assessee –No objections made by assessee-AO assumed valid jurisdiction-Reassessment is held to be valid. [S. 148, 151]
C. L. Chandradhara. v. CIT (2019) 55 CCH 0468/ 71 ITR 246 (Bang.)(Trib.)S. 145 : Method of accounting-Estimation of income-Accounts of assessee were subject to statutory as well as tax audit–Accounts not rejected-Addition made on estimate basis was deleted.
ACIT v. Aroma Hightech Ltd. (2019) 178 ITD 489 (Ahd.)(Trib.)