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. 147 : Reassessment-After the expiry of four years-Detailed enquiry-No failure to disclose material facts-Change of opinion-Reassessment notice and order disposing the objection. is quashed. [S.80IA(4) 80IC, 148, Art. 226]

Kaveri Infrastructure Pvt. Ltd. v. CIT (2023) 455 ITR 384 /335 CTR 281 /153 taxmann.com 425 (P&H)(HC)/Editorial : JCIT v. Kaveri Infrastructure (P.) Ltd. (2024) 298 Taxman 274 / 463 ITR 1 (SC)

S. 147 : Reassessment-After the expiry of four years-Based on facts which require investigation-Notice-Alternative remedy-Writ is held to be not maintainable. [S. 148, Art. 226]

Karur Kongu Charitable Trust v. ITO(E) (2023) 455 ITR 479/332 CTR 513 / 224 DTR 12 / 147 taxmann.com 73 (Mad.)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Reassessment is barred by limitation- -Issue not discussed in original assessment-No opinion formed-Matter relegated to Assessing Officer. [S. 148, Art. 226]

Durr India Pvt. Ltd. v. ACIT (2023)455 ITR 460 /335 CTR 444/152 taxmann.com 303 (Mad)(HC) Editorial: Decision of the single judge Durr India Pvt. Ltd. v. ACIT (2021) 433 ITR 48 (Mad)(HC),/./ SLP of Revenue is dismissed , ACIT (OSD) v. Durr India (P.) Ltd. (2024) 297 Taxman 58 (SC) affirmed

S. 147 : Reassessment-After the expiry of four years-Notice not mentioning facts which had not been disclosed-No evidence of failure-Notice and order disposing the objection is held to be not valid. [S. 115JB 148, Art. 226]

ACIT v. Seshasayee Paper and Board Ltd. (2023)455 ITR 291/334 ITR 517 /148 taxmann.com 432 (Mad)(HC) Editorial : Decision of single judge in Seshasayee Paper and Board Ltd v.ACIT (2021) 435 ITR 625 (Mad)(HC), affirmed.

S. 147 : Reassessment–After the expiry of four years-Report from investigation wing after scrutiny assessment-Shell companies-Deposited unaccounted cash in bank accounts-Prima facie material giving rise to belief sufficient-Notice valid.[S.143(3), 148]

PCIT v. Arshia Global Tradecom Pvt. Ltd. (2023)455 ITR 686/154 taxmann.com 47 / 333 CTR 806(Cal)(HC) Editorial: Order in Arshia Global Tradecom Pvt. Ltd v.ACIT (2020) 84 ITR 64 (SN) (Kol)(Trib), reversed.

S. 147 : Reassessment-Findings recorded by Assessing Authority not challenged before Appellate Authority or Revisional form-High Court order is affirmed-SLP of assessee is dismissed. [S. 148, 264, Art. 226]

Achal Kumar Agrawal v. PCIT (2023)455 ITR 383 / 293 Taxman 686 (SC) Editorial: Achal Kumar Agrawal v. PCIT (2023)455 ITR 380 (All) (HC), affirmed.

S. 145 : Method of accounting-Development of property-Project completion method-Percentage completion method-Accepted in earlier year-Rejection of method in latter year is not justified. [Accounting Standard, 7, & 9]

PCIT v. Salarpuria Simplex Dwelling LLP (2023)455 ITR 712 /(2022) 143 taxmann.com 35 (Cal)(HC)

S. 143(3) : Assessment-Search and seizure-Undisclosed income-Incriminating documents relating to period 2014 to 2019-No addition can be made on basis of such documents for the assessment year 2021-22. [S. 132, Art, 226]

Mahaboob Sab Moula Shariff v.CCIT (2023)455 ITR 231 (Karn)(HC)

S. 143(3) : Assessment-Amalgamation-Revenue intimated of amalgamation-Non existence company-Assessment not valid. [S.260A]

PCIT v. Mount View Dealmark Pvt. Ltd. (2023)455 ITR 622 /335 CTR 310 (Jharkhand)(HC)

S. 132A : Powers-Requisition of books of account-Title over assets-Seizure of cash-Trust-Trustee-Election Commission-Writ is not maintainable.[S. 246A, Art. 226]

Leo Charitable Trust v. P DIT (Inv) (2023)455 ITR 596 / 152 taxmann.com 441 / 333 CTR 858 (Mad)(HC) A Antony Xavier v. P DIT (Inv) (2023)455 ITR 596 / 152 taxmann.com 441 (Mad)(HC)