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-Replies uploaded was not considered-Order passed and notice issued is set aside-Directed the Assessing Officer to pass a reasoned order on merits and in accordance with law. [S. 148A(b), 148A(d), Art. 226]

Accord Capital Markets (P) Ltd v.ITO ( 2023) 333 CTR 549 ( Cal)( HC) Editorial : Order of single judge is set aside, Accord Capital Markets (P) Ltd v.ITO ( 2023) 333 CTR 550 ( Cal)( HC)

S. 148 : Reassessment –Notice-Jurisdiction-Foreign company-No order of transfer was produced-Notices issued by ACIT, IT, Bhubaneswar were without jurisdiction and, impugned notices and all proceedings consequent thereto were to be quashed Notices issued by ACIT, IT, Bhubaneswar were without jurisdiction and, notices and all proceedings consequent thereto were quashed.[S. 120,127 147,197, Art. 226]

Vedanta Resources Ltd. v. ACIT (IT) (2023) 333 CTR 432 / 150 taxmann.com 57 (Orissa)(HC)

S. 147 : Reassessment –Change of opinion-Spent more than 85 per cent of receipts-Order of Tribunal quashing the reassessment order is affirmed.[S. 11, 12, 12A, 13, 148, 260A]

CIT (E) v. Tibetan Children’s Village Dal Lake (2023) 335 CTR 380 /155 taxmann.com 118 (Himachal Pradesh)(HC)

S. 147 : Reassessment-Reopening of assessment on the ground of subsequent AAR-Binding nature of Advance ruling will prevail-Reassessment notice and notice is quashed and set aside-DTAA-India-UAE [S. 9(1)(i) 148, 245S, Art. 4, 10, 11,13(3), Art. 226]

Usha Eswar (Mrs). v.Rajeshwari Menon, ITO, (IT) (2023) 334 CTR 480 / 152 taxmann.com 454 (Bom)( HC)

S. 147 : Reassessment –With in four years-Capital gains-Change of opinion-No suppression of material facts-Reassessment notice and order disposing the objection is quashed. [S. 45, 143(3), 148, Art. 226]

Shrikant Vasudev Naik v. ACIT ( 2023) 333 CTR 684 ( Bom)( HC) Indirabai Shrikant Naik v. ACIT ( 2023) 333 CTR 684 ( Bom)( HC)

S.147: Reassessment-After the expiry of four years-Share application money-Produced address, PAN etc-Reassessment notice and order disposing the objection is quashed.[S. 68,

Gujarat Natural Resources Ltd. v. ACIT (2023) 335 CTR 260 / 148 taxmann.com 476 (Guj)(HC)

S.147: Reassessment-After the expiry of four years-Long term capital gains-Sale of shares-Information from Investigation Wing-No failure to disclose material facts-Reassessment notice and order disposing the objection is quashed. [S.45, 148, Art. 226]

Ramesh Kymal v. Dy.CIT( IT)(2023) 334 CTR 533/227 DTR 85 (Mad) ( HC) Mangal Chand Ostwal v. ITO)(2023) 334 CTR 533/ 227 DTR 85 (Mad) ( HC)

S.147: Reassessment-After the expiry of four years-Cash credits-Search-Deposit of cash in bank-No scrutiny assessment was done-Reassessment notice is held to be justified-Review petition is dismissed [S. 68, 143(1), 147, Art. 226]

Ramakant v. ITO (2023) 333 CTR 786 (Dehi) ( HC) Editorial : Ramakant v. ITO (2023) 333 CTR 791/294 Taxman 48 / 228 DTR 206 (Dehi) ( HC)

S. 144C : Reference to dispute resolution panel-Principle of natural justice-Only one day time was given to file reply-Matter remanded.[S. 92CA, Art. 226]

Cadila Pharmaceuticals Ltd. v. Add. CIT(2023) 334 CTR 57 (Guj)( HC)

S. 144B : Faceless Assessment-Sale of property-Not allowing the relief under section 48-Assessing Officer abdicated his role as adjudicator-Assessment order is quashed and set aside-Assessee is directed to file the return within two weeks. [S. 48, 144, 147

Swagatika Rout v.Chairman, CBDT (2023) 335 CTR 214 / 152 taxmann.com 529 (Orissa)( HC)