S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Remuneration from hospital-Salary-Professional income-Return filed using form ITR 3-Claimed benefit under section 44ADA-Reassessment notice for failure to deduct tax at source under section 192-Reassessment notice and order is quashed. [S.44ADA, 147, 148, 148A(b), 148A(d) 192, 194J, Art. 226]
Sankarnaryanasamy Selvanarayanan v.ITO (2024) 164 taxmann.com 169(Mad)(HC)
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. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Right to cross examination-No specific request for cross examination and issue off summons-Reassessment is valid-Writ petition is dismissed. [S.144B,147, 148, 148A(b), 148A(d), Art. 226]
Dinesh Khaitan v. UOI(2024) 163 taxmann.com 39 (Cal)(HC)S. 147: Reassessment-Return pending to be processed-Time limit for completing scrutiny u/s 143(3) is not expired-Reassessment cannot be initiated.[S. 139(1), 143(3), 148]
Rajesh Kumar (Shiva Construction Co) v. ACIT (2024) Chamber’s Journal-September-P. 111(Delhi)(Trib)S. 144C : Reference to dispute resolution panel-Additional ground admitted-Passing of draft assessment order is mandatory-Specific waiver application filed before the DRP-No estoppel against the law-Order is bad in law. [S.92CA(4) 254(1)]
Welspun Global Brands Ltd v. ITO(2024) Chamber’s Journal-March-P. 115(Mum) (Trib)S. 144 : Best judgment assessment-Books are rejected-Order has to be passed under section 144-Order passed under section 153A is not valid-Addition is deleted.[S.132, 145(3), 153A]
Govindam Export v. DCIT(2024) Chamber’s Journal-September-P. 110 (Jaipur)(Trib)S. 143(3): Assessment-Digital signature was affixed after limitation period-Order is bad in law-Barred by limitation. [S. 153]
ACIT v. Bennett Coleman & Co Ltd (2024) Chamber’s Journal-November-P. 111(Mum)(Trib)S. 68 : Cash credits-Survey-Loose sheets-On money-Merely on the basis if rough notings made on loose sheets addition cannot be made.[S.132(4A), 133A,292C]
Ace Developers v. DCIT (2024) Chamber’s Journal-October-P. 83 (Bang) (Trib)S. 80G : Donation-Existing Trust-Time limit for provisionally registered Trust for seeking regular registration-Harmonious interpretation-The time limit for applying for regular registration for existing trust is six months of the expiry of provisional registration. [S.12AA, 80G(5), Form 10AB]
Shri Kailash Math Trust v. CIT(E) (2024) Chamber’s Journal-March 114 (Pune)(Trib) Editorial : Followed in Saaksh Foundation v. CIT(E) (2024) 207 ITD 671 (Mum)(Trib)S. 68 : Cash credits-Sale of shares-Shreenath Commercial and Finance Ltd-Penny stock-Capital gain-Denial of exemption is not justified..[S. 10(38), 45]
Abhishek Doshi v. ITO (2024) Chamber’s Journal-April-P. 108(Mum)(Trib)S. 68 : Cash credits-Sale of shares-Comfort Fine cap Ltd-Penny stock-All documents produced-Capital gain is exempt from tax.[S. 10(38)), 45]
Udaykumar Shah v. ITO (2024) Chamber’s Journal-March-P. 113 (Mum)(Trib)