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–After the expiry of four years-Information by Investigation wing–Accommodation entries-Pravin Kumar Jain-One of the beneficiary–Reassessment is held to be valid [ S.69, 132(4), 148, 151, Art. 226]
Meghavi Minerals (P.) Ltd. v. CIT (2019) 267 Taxman 1 (Guj.)(HC)
S. 147 : Reassessment-After the expiry of four years-Facts was disclosed to the Assessing Officer in the original assessment proceedings–No new material–Reassessment based on change of opinion-Held to be not valid. [S. 12A, 148, Companies Act 1956, S. 25]
CIT v. Pentafour Software Employees’ Welfare Foundation. (2019) 418 ITR 427 / 267 Taxman 46 / 183 DTR 385/ ( 2020) 312 CTR 35 (Mad.)(HC)
S. 144C : Reference to dispute resolution panel–Failure to consider objection-Failure of statutory authority to exercise its jurisdiction and non-application of mind-Amenable to writ jurisdiction-Matter remanded to DRP. [S. 9(1)(vi), Art. 226]
P. D. R. Solutions Fzc. v. DRP (2019) 418 ITR 277 /( 2020) 186 DTR 93/ 313 CTR 160(Delhi)(HC)
S. 142(2A) : Inquiry before assessment–Special audit–Search proceedings-Individual not required to be maintain account statutorily Providing accommodation entries–Order for special audit is held to be justified-Petition also dismissed on the ground of belatedly approaching the Court. [Art. 226]
Tehmul Burjor Sethna. v. ACIT (2019) 418 ITR 596/ (2020) 187 ITR 289/ 313 CTR 614 (Guj.)(HC)
S. 133A : Power of survey–Undisclosed income-Admission of excess stock and excess cash–Addition is held to be valid–Mentioning of wrong section in the assessment order does not make addition as unsustainable. [S. 69B, 69C, 131]
SVS Oil Mills. v. ACIT (2019) 418 ITR 442/ 311 CTR 1002 / ( 2020) 186 DTR 122(Mad.)(HC)
S. 132A : Powers-Requisition of books of account–Search and seizure–Cash found from the employees of Courier services-Explanation that the cash was withdrawn from several bank accounts–Failure to produce relevant documents–Issue of warrant of authorisation is held to be valid. [S. 131, 132, Art. 226]
Kamleshbhai Rajnikant Shah. v. DIT (2019) 267 taxman 159/( 2020) 420 ITR 274 / 186 DTR 221/ 313 CTR 418(Guj.)(HC)
S. 132(4) : Search and seizure-Statement on oath–Evidentiary value–Retraction-Statement cannot be discarded merely on ground that it was retracted. [S. 131, 132, 133A]
Bannalal Jat Constructions Pvt. Ltd. v. ACIT (2019) 418 ITR 291 (Raj.)(HC)
S. 127 : Power to transfer cases–Transfer for purposes of co-ordinated investigation-Mode of investigation need not be disclosed-Notice to transfer implies that both the Commissioners are in agreement–Manner of agreement need not be recorded-Transfer is held to be valid–Writ is held to be not maintainable. [S. 127(2)(A), Art. 226]
MRL Posnet P. Ltd. v. PCIT (2019) 418 ITR 349/(2020) 268 Taxman 343/ 189 DTR 361/ 314 CTR 756 (Mad.)(HC)