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-Accommodation entries-No reply was filed-Disputed facts-Writ petition was dismissed.[S.133(6) 148A(b), Art. 226]
North End Foods Marketing (P.) Ltd. v. Dy. CIT (2023) 291 Taxman 482 (Delhi)(HC)
S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice issued after more than six years-non-compliance with mandatory requirements-Period had not got extended by Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020-Notices dated 1-4-2021 and 5-4-2021 were held to be bad in law. [S. 148, 149, Art. 226]
Stalco Consultancy & Systems (P.) Ltd. v. PCIT (2023) 455 ITR 308/ 291 Taxman 390 333 CTR 205 (Orissa) (HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Not granting the time prescribed from 7 to 30 days-Oder was set aside. [S. 148A(b), Art. 226]
Vesser Engineering Services (P.) Ltd. v. UOI (2022) 291 Taxman 179 (Chhattisgarh)(HC)
S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Accommodating entries-Investigation revealed that the transaction was merely accommodating entries-Reopening of assessment is held to be valid. [S. 148A(d), Art. 226]
Mahalaxmi Dye India (P.) Ltd. v. ACIT (2023) 291 Taxman 473 (Delhi)(HC)
S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Amalgamation-Notice issued in the name of a company which was amalgamated with Assessee (amalgamated company) and was not in existence on date of issue of such notice-The notice and consequent order is held to be invalid. [S. 148, 148A(d), Art. 226]
Sumant Investments (P.) Ltd. v. ACIT (2023) 291 Taxman 227 (Delhi)(HC)
S. 148 : Reassessment-Notice-Second notice-After High Court remanded the matter.-Second notice is bad in law. [S. 153(6)(i), Art. 226]
Elite Pharmaceuticals v. ITO [2023] 291 Taxman 597 (Cal)(HC)
S. 147 : Reassessment-Within four years-Change of opinion-Compensation payable-Based on record that was already with the Assessing Officer at the time of the proceedings-Reassessment notice and order disposing the objection was quashed..[S. 37(1), 143(3), 260A]
PCIT v. NESCO Ltd. (2023) 291 Taxman 286 (Bom)(HC)
S. 147 : Reassessment-With in four years-Contribution to certain funds-Not claimed any relief-Reassessment notice and order disposing the objection was quashed.[80CCC(1), 148, Art. 226]
Piyush Ambalal Gandhi.v. DCIT (2023) 457 Itr 411/ 291 Taxman 396 (Guj)(HC)
S. 147 : Reassessment-With in four years-Unexplained investment-Laundering of huge funds-Rotation of funds-Reassessment notice and order disposing the objection is justified [S. 69B, 148, Art. 226]
Omni Lens (P.) Ltd. v. ACIT (2023) 291 Taxman 619 (Guj)(HC)
S. 147 : Reassessment-After the expiry of four years-Cash credits-Cash deposit in the bank-Information from Bank-Factual error cannot be considered in writ proceedings-Order of single judge was affirmed.[S. 68, 143(1), 148, Art. 226]
Gem Edible Oils (P.) Ltd. v. ACIT (2023) 291 Taxman 242 (Mad)(HC) Editorial : Order of single Judge, Gem Edible Oils (P.) Ltd. v. ACIT (WP No. 10769 of 2022 dt. 27-4 2022)(Mad)(HC).