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-Cash credits-Accommodation entries-Rishabh Trading Company-Filing of affidavit-Notice and order disposing the objection is quashed and set aside.[S.68, 148, 148A(b), 148A(d), Art. 226]
Gudwala and Sons v. ACIT (2023) 295 Taxman 772 (Delhi)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Capital gains-Profit on sale of property used for residence-Furnished copy sale deed and NHAI bonds-Non application of mind-Reassessment notice and order under section 148A(d) is quashed and set aside. [S. 45, 54, 54EC,148, 148A(b), 148A(d), Art. 226]
Shalini Mittal (Ms.) v. ITO (2023) 295 Taxman 722 (Delhi)(HC)
S. 148A : Reassessment-Conducting inquiry, providing an opportunity before issue of notice-Business expenditure-Failure to file reply-Writ petition is dismissed.[S.148, 148A(b), 148A(d), Art. 226]
Samriddhi Industries v. CBDT(2023) 295 Taxman 524 (MP)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Return was not filed-Purchase of immoveable property-Only five days time to file the reply-Notice and order disposing the objection is quashed and set aside. [S. 69, 148, 148A(b),148A(d), Art.226]
Mukesh J. Ruparel v. ITO (2023) 295 Taxman 475 (Bom.)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Payment to non-Resident-Mangement and consultancy fees-Change of opinion-Query raised in the course of assessment proceedings-No power to review the order-Reassessment notice and order disposing the objection is quashed. [S. 40(a)(i), 147, 148A(b).148A(d), 195, Art. 226]
Knight Riders Sports Pvt. Ltd. v. ACIT (2023)459 ITR 16/ 295 Taxman 537 (Bom)(HC)
S. 148 : Reassessment-Notice-Amalgamation-Succession to business-Notice in the name of non-existing entity-Assessing Officer was informed-Notice and order disposing the objection is quashed. [S. 147, 170, Art. 226]
Anokhi Realty (P.) Ltd. v. ITO (2023) 457 ITR 695/ 295 Taxman 60 (Guj.)(HC)
S. 148 : Reassessment-Notice on dead person-Order is quashed and set aside.[S. 147, 159, 292B, Art. 226]
Utpala Pradeep Jain v. ACIT (2023) 295 Taxman 322 (Guj.)(HC)
S. 147 : Reassessment-Capital work-in-progress-Change of opinion-Audit objection-No fresh tangible material-Order of Tribunal is affirmed.[S.143(3) 148 260A]
PCIT v. Network Programme India Ltd. (2023) 295 Taxman 335 / (2024) 461 ITR 37(Delhi)(HC)
S. 147 : Reassessment-Capital work-in-progress-Change of opinion-Audit objection-No fresh tangible material-Order of Tribunal is affirmed.[S.143(3) 148 260A]
PCIT v. Network Programme India Ltd. (2023) 295 Taxman 335/(2024)461 ITR 37 (Delhi)(HC)
S. 147 : Reassessment-With in four years-Special economic zones-Explanation was furnished in the course of assessment proceedings-Notice and order disposing the objection is quashed.[S.10AA, 148, Art. 226]
Amneal Pharmaceuticals (P.) Ltd. v. ACIT (2023) 295 Taxman 197 (Guj.)(HC)