S.147 :Reassessment – After the expiry of four years – Loan -Accommodation entries -Documents produced during assessment proceedings- No failure to disclose material facts- Notice and order disposing the objection was quashed . [S. 68, 148 , Art , 226 ]
Vijay Ramanlal Sanghvi v. ACIT (2023) 330 CTR 424/ 146 taxmann.com 55 (Guj.)( 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.148 :Reassessment – Order disposing the objection – Judgments relied upon by petitioner not applicable- Order disposing the objection was up held [S.147, Art , 226 ]
Viswabharathi Medicals v. ITO (2023) 330 CTR 445 / 221 DTR 309 (Ker)( HC )S. 148A: Reassessment – Conducting inquiry, providing opportunity before issue of notice – Assessing Officer cannot travel beyond show cause notice- CBDT Circular dated 11.5. 2022 applicable if amount of income which has escaped tax is less than Rs. 50 lakhs- Order was quashed .[ S. 148A(b), 148(A)(d), Art , 226 ]
U.S Associates v. PCIT (2023) 330 CTR 317(Chattisgarh)( HC)S. 153A: Assessment – Search or requisition- Order was not barred by limitation – Seized material was handed on 27 -8 -2019 – Writ petition was dismissed- Directed to pursue alternative remedy . [S.153C(2) Art , 226 ]
Savithri Naidu v. ACIT (2023) 330 CTR 200 / 212 DTR 462 (Mad)( HC)Direct Tax Vivad Se Vishwas Scheme, 2020
S.3: Amount payable by the declarant – Time and manner of payment -Failure to pay the amount of disputed tax before the last date- Declarations ought to be accepted and payment to be made with simple interest @9% within four weeks.[ S. 5 , Art , 226 ]
Srishtii Infra Housing Pvt. Ltd. v. PCIT (2023) 330 CTR 167(Delhi)( HC) IA Housing Solution Pvt Ltd v. PCIT (2023) 330 CTR 167(Delhi)( HC)Income Declaration Scheme, 2016
S. 183: Payment of tax – Failure to make third installment – Non-compliance- Order of single judge is set aside- Directed the assessee to make a fresh representation before the Competent Authority. [ Art , 226 ]
S. 4 : Charge of income-tax – Alternative accommodation –Redevelopment agreement – Corpus monetary consideration -Rent for alternative accommodation – Hardship allowance – Capital receipt not taxable . [ S. 56 ]
Narayan Devarajn Iyengar v. ITO (2023) 201 ITD 503/ 223 TTJ 905( Mum)( Trib) www.itatonline .orgS. 69C : Unexplained expenditure -Capitalisation fee – Admission in medical college – Scribbling made on the back side of two pages which does not reveal that assessee had made any payment – Failure to give an opportunity of cross examination of Dean – Addition was deleted . [ S. 132 ]
Krishna D. Pawar v. ITO ( Mum)( Trib) www.itatonline .orgS. 147: Reassessment – After the expiry of four years- Non -Resident – Swiss account funds of non -resident – Credits in HSBC (Geneva) accounts originated outside Indian Territories. – Income deemed to accrue or arise in India – No business connection – Limitation – Extended period of 16 years is not applicable to non -Residents- Reassessment notice and order is held to be bad in law and quashed – DTAA -India -UK -French . [ S.6(1), 6(6), 9(1)(i) , 69,139(1) , 148 , 149(1), (149(1)( c), Art, 28 ]
Amrita Jhaveri (Ms.) v . Dy CIT ( Mum)( Trib) www.itatonline .org.37(1): Business expenditure – Sales and business promotion expenses -Gifting freebies to dealers and stockists – Performance in meeting sales targets – Allowable as a deduction – Circular No 5 of 2012 dt. 18 -2012 prohibits the benefit of freebies directly or indirectly to medical practioners and their professional associations and not to dealers and stockists .
Dy .CIT v. Curosis Healthcare Private Limited ( Jaipur )( Trib) www.itatonline .org.