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. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Jurisdiction-Notices issued by Jurisdictional Assessing Officer (JAO)-Re-assessment proceedings initiated without conducting faceless assessment as envisaged under section 144B-Contrary to provision of law-Interim stay is granted. [S.119,120, 144B(7), 144B(8),,148, 148A(b), 148A(d), 151, Art.226]

Govind Singh v. ITO (2024) 300 Taxman 216 (HP)(HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Jurisdiction-Notices issued by Jurisdictional Assessing Officer (JAO)-Re-assessment proceedings initiated without conducting faceless assessment as envisaged under section 144B-Contrary to provision of law-Notice and order is quashed.[S.119,120, 144B(7), 144B(8), 148, 148A(b) 148A(d), 151, Art.226]

Sandeep Kumar Gupta v. UOI (2024) 300 Taxman 386 (P&H)(HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Interest on bonds/Debentures-Interest income received on NCDs is in nature of dividend-liable to be taxed in terms of section 115-O-Reassessment notice and order disposing the objection is quashed-DTAA-India-Luxemborg [S.9(1)(v), 115-O, 148, 148A(b), 148A(d), 194LD, Art. 11, Art. 226.]

Genpact Luxembourg S.A.R.L v. ACIT (2024) 300 Taxman 462 /(2025) 473 ITR 68/343 CTR 485 (Delhi)(HC)

S. 147 : Reassessment-With in four years-Cash credits-Shell Companies-Information from Investigation Wing-Recorded reason mechanical manner without application of mind by the Assessing Officer-Mistake-A mistake, which can be corrected under section 292B, should be such that if excised it does not change tenor and scope of documents/proceedings referred to therein-Order of Tribunal quashing the reassessment order is affirmed-No substantial question of law.[S. 68, 143(1), 148, 260A, 292B]

CIT v. Spirit Global Construction (P.) Ltd (2023) 153 taxmann.com 641/(2024) 471 ITR 470 (Delhi)(HC) Editorial : Delay of 213 days, SLP of Revenue is dismissed as the delay is not satisfactorily explained, CIT v. Spirit Global Construction (P.) Ltd. (2024) 300 Taxman 102 (SC)

S.147: Reassessment-After the expiry of four years-Unexplained expenditure-Prior period items and advertisement expenses-No new tangible material-Quashing of reassessment by the Tribunal is affirmed. [S.69C, 148, 260A]

PCIT v. Samsung India Electronics (P.) Ltd. (2024) 300 Taxman 21/(2025) 475 ITR 70 (Delhi)(HC)

S.147: Reassessment-After the expiry of four years-Industrial undertakings-Infrastructure development-Manufacturing and cut of polished diamond on job work basis and trading of diamonds and power generation through windmill-Amalgamation-No failure to disclose material facts-reassessment notice and order disposing the objection is quashed and set aside. [S.80IA(4)(iv) 143(3), 148, Form No.10CCB, Art. 226]

Facets Gems Polishing Works (P.) Ltd. v. Dy. CIT (2024) 300 Taxman 168/ 471 ITR 674 (Guj.)(HC)

S.147: Reassessment-After the expiry of four years-Capital gains-No failure to disclose material facts-Reassessment notice and order disposing the objection is quashed. [S. 48, 148, Art. 226]

Jagdish Kumar Vitthalbhai Patel v. ITO (2023) 151 taxmann.com 121/ 417 ITR 216 (Guj)(HC) Editorial : SLP of Revenue is dismissed, ITO v. Jagdish Kumar Vitthalbhai Patel (2024) 300 Taxman 96 / 471 ITR 227 (SC)

S.147: Reassessment-After the expiry of four years-Income from other sources-Interest income-Credit for Tax deducted at source-Change of opinion-No failure to disclose material facts-Reassessment notice and order disposing the objection is quashed. [S. 56, 143(3), 148, Art. 226]

Rushil Decor Ltd. v. Asst. CIT (2024) 300 Taxman 432 (Guj.)(HC)

S. 147: Reassessment-After the expiry of four years-Depreciation-Foreign exchange fluctuations on imported machinery-Project development-Change of opinion-Reassessment notice and order disposing the objection is quashed. [S. 32, 115JB, 148, Art. 226]

Adani Power Ltd. v. ACIT (2024) 300 Taxman 484 (Guj.)(HC)

S. 147 : Reassessment-After the expiry of four years-Unexplained money-Information from the ADIT (Investigation)-Purchases and sale of commodities through National Multi-Commodities Exchange (NMCE platform)-Borrowed satisfaction-Not valid in the eyes of law-Non application of mind-Reassessment notice and order disposing the objection is quashed.[S. 69A, 148, Art. 226]

Toral Hemanshubhai Shah v. Asst. CIT (2024) 300 Taxman 196 (Guj.)(HC)