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. 151 : Reassessment – Sanction for issue of notice -Reassessment proceedings couldn’t be quashed just because AO had obtained prior approval from higher authority [ S. 147, 148 ]

Mayurbhai Mangaldas Patel. v. ITO (2018) 168 ITD 317 (Ahd) (Trib.)

S. 151 : Reassessment – Sanction for issue of notice –Mechanical approval was held to be bad in law [ S. 147, 148 ]

ITO v. Virat Credit & Holdings Pvt. Ltd. (Delhi)(Trib) , www.itatonline.org

S. 151: Reassessment – After the expiry of four years – Sanction of the Chief Commissioner was a pre-condition. [ S.147,148, 149 ]

CIT v. Gee Kay Finance And Leasing Co. Ltd. (2018) 401 ITR 472 / 163 DTR 425 / 301 CTR 645 (Delhi) (HC)

S. 151 : Reassessment – Sanction for issue of notice – After expiry of four years – Notice and proceedings was vitiated for want of specific sanction .[ S. 147, 148 ]

Maruti Clean Coal And Power Ltd. v. ACIT (2018) 400 ITR 397 / 161 DTR 457 / 300 CTR 358 (Chhattisgarh) (HC)

S. 147 : Reassessment –Clerical mistake- The object and purpose behind S. 292B is to ensure that technical pleas on the ground of mistake, defect or omission should not invalidate the assessment proceedings, when no confusion or prejudice is caused due to non-observance of technical formalities [ S. 148, 292B ]

Skylight Hospitality LLP v. ACIT( 2018) 254 Taxman 390/ 166 DTR 421 / 303 CTR 130 (SC) , www.itatonline.org Editorial. Order in Skylight Hospitality LLP v. ACIT ( 2018) 254 Taxman 109/ 166 DTR 409/ 303 CTR 131 ( Delhi) (HC) is affirmed

S. 147: Reassessment- Reassessment on the basis of information received from investigation wing for alleged accommodation entries and denial by parties the reopening was held to be bad in law [ S. 148 ]

DCIT v. VSB Investment Pvt. Ltd. (2018) 61 ITR 16 (Delhi) (Trib)

S.147: Reassessment- Failure to disclose beneficial owner of deposits in foreign Bank accounts -Reassessment was held to be justified [ S.69 , 148 ]

Ambrish Manoj Dhupelia. v. DCIT (2018 ) 168 ITD 407 (SMC) (Mum) (Trib.)

S.147: Reassessment — Issue was not considered in the original assessment proceedings hence reassessment was held to be valid. As regard the allowability of depreciation on stock exchange membership the matter was remanded .[ S. 32, 148 ]

Way 2 Wealth Brokers P. Ltd. v. (2018)61 ITR 259 (Bang) (Trib)

S. 147: Reassessment — Reopening on same issues as considered in rectification proceedings earlier was held to be not valid [ S. 148 ]

CIT v. Jandu Construction Co. (2018) 61 ITR 235 (Chand) (Trib)

S. 147: Reassessment — Non-speaking order disposing of Assessee’s objection against reassessment — Reassessment was held to be invalid [ S.68, 148 ]

Veer Vardhman Finance Investment Pvt. LTD. v. DCIT (2018) 61 ITR 669 (Delhi) (Trib)