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. 153A: Assessment-Search-Cash credits-Furnished all documents and had explained source of credit in its original return,-Deletion of additions by the Tribunal is affirmed. [S.68, 260A]

PCIT v. Gangol Vincom (P.) Ltd. (2023) 332 CTR 854 / 225 CTR 262/ 148 taxmann.com 126 /(2024)468 ITR 279 (Orissa)(HC)

S. 153 : Assessment-Limitation-Uploading of order on web portal-One day delay in uploading of order or generating DIN would not make assessment order unsustainable in law-Writ petition is dismissed. [S. 68, 153 (3), 282, R. 127 Art. 226]

Prakash Lal Khandelwal v. CIT (2023) 331 CTR 763 / 151 taxmann.com 72 (Jharkhand)(HC)

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Sale of land-Value was more than what has been disclosed-Writ petition is dismissed.[S. 148A(b), 148A(d), Art. 226]

Laxmi Meena v. UOI (2023) 332 CTR 569/225 DTR 276/(2024) 464 ITR 208 (Raj)(HC)

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Search and seizure-Circular transactions-Artificially inflation of turnover-Order is passed after considering the detailed reply-Writ is dismissed.[S. 148, 148A, Art. 226]

Chetak Enterprises Ltd. v. ACIT (2023) 332 CTR 316/ 223 DTR 49/(2024) 470 ITR 655(Raj)(HC)

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Accommodation entries-No change of opinion-Non-disclosure of primary facts-Audit objection-Can constitute information on basis of which re-assessment proceeding can be initiated.[S. 132A, 147, 148, 148A(b), 148A(d), 153A, 153D, Art. 226]

Subodh Agarwal v. State of U.P (2023) 332 CTR 534/233 DTR 441 / 149 taxmann.com 448 (All)(HC)

S. 148 : Reassessment-Writ-Kar Vivad Samdhan Scheme, 1998 Maintainability-Dismissal of writ petition without reasons order-Order is set aside and High Court is directed to hear and dispose of the writ petitions on their merits expeditiously.[S. 147, Kar Vivad Samdhan Scheme, 1998, Art. 136, 226]

R.P. Gupta v. CIT. (2023) 332 CTR 213/224 CTR 457(SC) Editorial: From the decision of Allahabad High Court, WP. Nos 887 to 889 of 2018 dt. 25th July, 2018.

S. 147 : Reassessment-With in four years-Employment of new workmen-Matter is remanded back to single judge to examine for want of jurisdiction. [S.80JJAA, 148, Art. 226]

Polaris Financial Technology Ltd. v.Asst. CIT (2023) 332 CTR 351 / 150 taxmann.com 151 (Mad)(HC) Editorial : Polaris Financial Technology Ltd. v.Asst. CIT (WPNo. 31722 of 2017 dt. 13 th March, 2020 is set aside.

S.147: Reassessment-After the expiry of four years-Capital gains-Sale of shares-Gift-Income from other sources-No failure to disclose material facts-Reassessment notice and order disposing the objection is quashed. [S. 56(2)(vii)(c), 148, Art. 226]

Azim Premji Trustee Co. (P.) Ltd. v Dy. CIT (2023) 331 CTR 173 / 122 DTR 145/ 146 taxmann.com 58 (Karn)(HC)

S. 147 : Reassessment-After the expiry of four years-Material already on the record-Referred in the Audit report-Reassessment notice and order disposing the objection is quashed.[S. 148, Art. 226

Kalinga Institute of Industrial Technology v. CIT (2023) 330 CTR 579 / 221 DTR 387 (Orissa)(HC)

S. 144C : Reference to dispute resolution panel-Opportunity of being heard was provided-Failure to produce documents-Alternative remedy-Writ petition is dismissed. [S. 143(3), 144C(11), Art. 226]

Kostal India (P) Ltd. v. DRP (2023) 331 CTR 95/ 222 DTR 328 (Mad)(HC)