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-Audit objection-Corporate Social Responsibility-Change of opinion-Notice and order disposing the objection is quashed and set aside. [S. 37(1), 148, Companies Act, 2013, S.135, Art. 226]

Adani Power Rajasthan Ltd v. ACIT (2023) 150 taxmann.com 136/ 334 CTR 187/(2024) 461 ITR 210 (Guj)(HC)

S. 147 : Reassessment-Faceless Assessment-Principle of natural justice-Oder passed without giving an opportunity of hearing–Reassessment proceedings and consequential notices quashed-Assessing Officer is directed to afford due opportunity and pass order accordingly. [S. 148, 156, Art. 226]

Harsha Bhavesh Patel (Smt.) v NFAC (2023)456 ITR 476 (Karn)(HC)

S. 147 : Reassessment-Capital or revenue-Amount paid to electricity Board for bay lines allowed as revenue expenditure-No new material-Reassessment is not valid. [S. 37, 148, 260A]

CIT v. Verdhman Textiles Ltd. (2023)456 ITR 427 /153 taxmann.com 141 (P&H)(HC)

S. 147 : Reassessment-With in four years-Provision for compensation-Allowed as deduction-Notice of reassessment based on same issues-Held to be not valid.[S. 37(1), 148]

PCIT v. Nesco Ltd. (2023)456 ITR 600/ 291 Taxman 286 (Bom)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-No opportunity of cross-examination is given-Reassessment is not valid.[S. 148, 260A]

PCIT v. Prabhu Dayal Aggarwal (2023)456 ITR 84 /154 taxmann.com 506 (Delhi)(HC)

S. 147 : Reassessment-After the expiry of four years-No allegation in notice that material facts necessary for assessment had not been disclosed-Reassessment notice and order is not valid. [S.148 260A]

CIT v. Canara Bank (2023)456 ITR 316 (Karn)(HC)

S. 147 : Reassessment-After the expiry of four years-Compensation-Compulsory acquisition by Government-Denial of exemption to other Co-owners-Notice and order disposing the objection is set aside. [S. 10(37) 148,263, Art. 226]

Anilaben Rohitbhai Modi v. ITO (2023)456 ITR 607 / 152 taxmann.com 76 (Guj)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Reassessment notice and order disposing the objection is quashed. [S. 148,151, Art. 226]

Wyeth Ltd. v. ACIT (2023)456 ITR 536 /153 taxmann.com 699 (Bom)(HC)

S. 147 : Reassessment-After the expiry of four years-Reasons recorded not specifying what material was not disclosed-No new information-Change of opinion-Notice and order disposing the objection is quashed. [S. 35(2AB) 148, Art.226]

Survival Technologies Pvt. Ltd. v. Dy. CIT (2023)456 ITR 261 /149 taxmann.com 453 (Bom)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Information from Investigation wing-Share transactions-No new tangible material-Change of opinion-Notice and order disposing the objection is quashed. [S. 148, Art. 226]

Rehana Anwar Shaikh v. ITO (2023)456 ITR 720 (Bom)(HC)