S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Unexplained investments-Purchase of property-Assessing Officer assumed it sale of an immoveable property-Capital gains-Order and consequential notice were set aside order and consequential notice were set aside. [S.69, 133(6), 148A(b), 148A(d), Art. 226]
Krishna Diagnostic (P.) Ltd. v. ITO (2023) 294 Taxman 109/ /(2024)468 ITR 283 (Delhi)(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-Share application money-Order passed without considering the reply-Order is set aside-Matter is remanded. [S. 148A(b), 148A(d), Art. 226]
Flipkart (P.) Ltd. v. ITO(IT) (2023) 294 Taxman 300 (Karn.)(HC)S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Cash credits-No opportunity of hearing was given-Order and reassessment notice was quashed and set aside.[S. 68, 148, 148A(b), 148A(d), Art. 226]
Movish Realtech (P.) Ltd. v. Dy. CIT (2023) 294 Taxman 353/(2024) 460 ITR 334 (Delhi)(HC)S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice after three years – Limitation-Capital gains-Notice issued without considering the reply-Income escaping did not exceed 50 lakhs-Income chargeable to tax-notice barred by limitation. [S. 45, 48, 148A(b) 148(d), 149(1)(b) Art. 226]
Sanath Kumar Murali v. ITO (2023) 455 ITR 370 / 294 Taxman 80 / 333 CTR 189 (Karn.)(HC)S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Cash credits-Accommodation entries-question of fact-Writ petition was dismissed. [S. 68, 147, 148A(b), 148A(d), 148, Art. 226]
Seema Gupta (Smt) v. ITO (2023) 455 ITR 498 /146 taxmann.com 289 (Delhi)(HC) Editorial : SLP of assessee is dismissed, Seema Gupta (Smt) v. ITO (2023) 455 ITR 504 / 294 Taxman 518 (SC)S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Cash credits-Accommodation entries-question of fact-SLP is dismissed. [S. 68, 147, 148A(b), 148A(d), 148, Art. 13]
Seema Gupta (Smt) v. ITO (2023) 455 ITR 504 / 294 Taxman 518 (SC) Editorial : Seema Gupta (Smt) v. ITO (2023) 455 ITR 498 /146 taxmann.com 289 (Delhi)(HC)S. 148 : Reassessment-Notice-Dead person-Issuing a notice to a correct person is not merely a procedural requirement but a condition precedent for a notice to be valid in law-Order null and void. [S. 148A(b), 148A(d), Art, 226]
Dhirendra Bhupendra Sanghvi v. ACIT (2023) 458 ITR 326 / 294 Taxman 13 (Bom.) (HC)S. 148 : Reassessment-Notice-Amalgamation-Intimated to the Assessing Officer – Notice in the name of amalgamated company which ceased to exist-Notice is not valid.[S. 133(6) 147, Art. 226]
Adani Estate Management (P.) Ltd. v. ITO (2023) 456 ITR 560 /294 Taxman 18 (Guj.)(HC)S. 148: Reassessment-Notice-Notice dated 29-3-2019 had been issued on 30-3-2019 and there was an entry in postal register in support-Order passed is valid in law. [S. 144, 147, Art. 226]
Praveen Kumar v. ITO (2023) 294 Taxman 488 (Mad.)(HC)S. 148 : Reassessment-Notice-Amalgamation-Intimated to the Department-Cash credits-Notice in the name of company which is ceased to exist – Notice is quashed and set aside. [S. 147 Art. 226]
Roquette India (P.) Ltd. v. ACIT (2023) 457 ITR 509/ 294 Taxman 251 (Guj.)(HC)