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-After the expiry of four years-Business of purchase and sale of shares-Set-off-Speculation loss-Business loss-Query raised-Audit objection-Change opinion-Notice and order disposing the objection was quashed. [S.28(i), 73, 148, Art. 226]

BSIFS Pvt. Ltd. v. ACIT [2024] 161 taxmann.com 443 / (2025) 474 ITR 200 (Bom)(HC) Editorial : SLP of revenue dismissed, ACIT v BSIFS Pvt. Ltd.(2025) 474 ITR 208 (SC)

S.147: Reassessment-After the expiry of four years-Business of purchase and sale of shares-Set-off-Speculation loss-Business loss-Query raised-Audit objection-Change opinion-Notice and order disposing the objection was quashed-SLP of revenue dismissed. [S.28(i), 73, 148, Art. 136]

ACIT v BSIFS Pvt. Ltd.(2025) 474 ITR 208 (SC) Editorial : BSIFS Pvt. Ltd. v. ACIT (2025) 474 ITR 200 (Bom)(HC)

S. 144B : Faceless Assessment-Limitation-Commencement of limitation period-Directions of DRP uploaded on 31-1-2022 in Income-tax Business Application portal-Order visible and accessible to AO on same date-AO cannot rely on later internal intimation dated 3-2-2022-Assessment completed on 22-3-2022 held barred by limitation.[S.143(3), 144B(3), 144C(13), 260A]

CIT v. Ramco Cements Ltd. (2025) 474 ITR 9 / 171 taxmann.com 306 (Mad)(HC)

S.143(3):Assessment-Reassessment-Alternative remedy-Writ petition dismissed.[S. 147, 148, 246A, Art. 226]

Mahesh Chander Sharma v.NFAC (2025) 474 ITR 528 (P & H) (HC)

S. 143(3): Assessment-Jurisdiction-Notices-Assessing Officer or prescribed authority-Powers of Central Board of Direct Taxes to prescribe authority not confined to authorising Income-tax Officers of National Faceless Assessment Centre alone as prescribed authority-Notification issued by Central Board of Direct Taxes authorising Assistant Commissioner or Deputy Commissioner (IT), Circle-1(1)(1)-Notice were within jurisdiction. [S.119, 142(1) 143(2), ITAT R, 1962, R. 12E.Art. 226]

Ambience Farms Pvt. Ltd v. ACIT (2025) 474 ITR 209 (Delhi)(HC) Editorial : SLP of assessee dismissed, Ambience Farms Pvt. Ltd v. Asst. CIT (2025I 474 ITR 214 (SC)

S. 143(3): Assessment-Jurisdiction-Notices-Assessing Officer or prescribed authority-Powers of Central Board of Direct Taxes to prescribe authority not confined to authorising Income-tax Officers of National Faceless Assessment Centre alone as prescribed authority-Notification issued by Central Board of Direct Taxes authorising Assistant Commissioner or Deputy Commissioner (IT), Circle-1(1)(1)-Notice were within jurisdiction-SLP dismissed. [S.119, 142(1) 143(2), ITAT R, 1962, R. 12E. Art. 136]

Ambience Farms Pvt. Ltd v. Asst. CIT (2025I 474 ITR 214 (SC) Editorial : Ambience Farms Pvt. Ltd. v. ACIT, (2025) 474 ITR 209 (Delhi)(HC)

S. 139 : Return of income-Delay in filing return-Refunds-Computation of limitation period-CBDT Circular No. 9/2015, para 6 [2015] 374 ITR (St.) 25)-Order rejecting the application was set aside. [S. 139(9), 237, 240, 245, Art. 226]

PCIT v. Vivek Krishnamoorthy, (2025) 474 ITR 506 / 175 Taxmann.com 681 (Karn) (HC) Editorial: Order of Single Judge in Vivek Krishnamoorthy v. PCIT (2024) 469 ITR 605 (Karn) affirmed.

S. 127 : Power to transfer cases-Transfer of case for effective co-ordinated investigation to avoid loss of revenue-Transfer order stating adequate reasons and centralisation for limited period until conclusion of assessment according to norms and decentralisation thereafter-Communications between transferor and transferee jurisdictional Commissioners indicating their agreement-Assessee given opportunity of hearing-No infirmity in transfer order-Interference in writ jurisdiction not warranted-SLP of assessee dismissed, [S. 127(2), Art. 136]

Laxminath Investment and Management Consultants Pvt. Ltd. v. Pr. CIT (2025) 474 ITR 7/ 174 taxmann.com 55 (SC) Editorial : Laxminath Investment and Management Consultants Pvt. Ltd. v. PCIT (2025) 474 ITR 1/ 174 taxmann.com 54 (Bom)(HC)

S. 119 : Central Board of Direct Taxes-Specified authority-Order passed by subordinate with member’s approval-Requirement of authorised authority [S. 119(2)(b), Art. 226]

Nd’s Art World Pvt. Ltd. v. Addl. CIT, (2025) 474 ITR 491 (Bom) (HC)

S. 119 : Central Board of Direct Taxes-Condonation of delay-Delay of 1585 days in filing revised return-Personal hearing mandatory-Violation of natural justice-Order was set aside-Matter remanded to CBDT to pass well reasoned after hearing assessee. [S. 119(2)(b),139, Art. 226]

Bharat Education Society v. AO (2025) 474 ITR 485 (Bom) (HC)