S. 154 : Rectification of mistake-Mistake apparent from the record-Agricultural income-Book profit-Refund of claim-Order of Assessing Officer disposing of rectification application recomputing book profits including agricultural Income-Directed to grant the refund. [S.10(1),115JB]
Abhimanu Adventure Resorts P. Ltd. v Dy. CIT (2023)107 ITR 1 / (2024) 227 TTJ 8 (UO) (Chd) (Trib)
Digest of case laws
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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. 153C : Assessment-Income of any other person-Search-Satisfaction note-Incriminating material referred in satisfaction note not connected to assessee-Order is held to be invalid and quashed.
Bhavya Residency P. Ltd. v. Asst. CIT (2023)107 ITR 10 (SN) (Delhi)(Trib.)S. 153A : Assessment-Search-No incriminating material found in search-Alleged bogus long-term capital gains-Amalgamation approved by High Court-No evidence to prove transactions were bogus-Addition is deleted-No search on assessee-No assessment order could have been passed. [S. 10(38) 132, 133A]
Dy. CIT v. Bajrang Lal Bamalwa (2023)107 ITR 130 (Kol) (Trib)S. 147 : Reassessment-Cash credits-Undisclosed income-Source of cash deposits explained-Addition not sustainable-Reassessment invalid.[S. 68, 148]
Kuldeep Kumar v. ITO (2023)107 ITR 241 / 226 TTJ 341 (Jodhpur) (Trib)S.147: Reassessment-After the expiry of four years-With in four years-Raised specific query in the original assessment proceedings-No new tangible material-Reassessment is bad in law.[S. 143(3 148]
Khed Economic Infrastructure P. Ltd. v. Dy. CIT (2023)107 ITR 83 (SN)(Pune) (Trib)S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Reassessment is quashed. [S. 148]
Asst. CIT (OSD) v. S. S. Gas Lab Asia P. Ltd. (2023)107 ITR 482 (Delhi) (Trib)S. 144C : Reference to dispute resolution panel-Limitation-Legal issue-Can be raised at any time-Matter remanded to Assessing Officer to consider additional ground of limitation on Dispute Resolution Panel’s Direction. [S. 92CA, 153, 254(1), ITATR.11]
Eaton Power Quality P. Ltd. v. Dy. Dy. CIT (2023)107 ITR 195 (Chennai) (Trib)S. 144 : Best judgment assessment-Rejection of books of account-Estimate of gross profit-No purchases from shell companies-Declared greater profit from earlier years-No addition is warranted.
Asst. CIT v. Montecarlo Construction Ltd. (2023)107 ITR 411 (Ahd) (Trib)S. 153A : Assessment-Search-Information in Annual Information return is not incriminating material-Addition is deleted.[S. 5, 50C, 132]
Pravinchandra R. Patel v. Dy. CIT (2023)107 ITR 34 (SN) (Ahd.)(Trib.) Ansuben P.Patel (Smt) v. Dy. CIT (2023)107 ITR 34 (SN) (Ahd.)(Trib.) Neothech Education Foundation v. Dy. CIT (2023)107 ITR 34 (SN) (Ahd.)(Trib.)S. 148 : Reassessment-Notice-Amalgamation-Factum of amalgamation intimated to Assessing Officer with request to cancel Permanent Account Number of amalgamating company-Notice in name of non-existent entity-Not sustainable.[S. 147]
Asst. CIT v. Vibhu International Ltd. (2023)107 ITR 6 (SN)(Delhi)(Trib)