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. 153C : Assessment-Income of any other person-Cash credits-Additions on account of unexplained credits-Absence of any contradictory material-Additions affirmed by CIT (A) justified. [S. 68, 153A]

Amit Sanap v. Dy. CIT (2022)97 ITR 19 (SN) (Mum) (Trib)

S. 153C : Assessment-Income of any other person-Search-Undisclosed income-Retraction-Retraction statement is held to be valid-No incriminating material-Capitalisation fee-Extrapolation of addition in the previous year or subsequent year-Addition was deleted-Validity of assessment-Not raised before the Assessing Officer or CIT(A)-Application under Rule 27 was dismissed. [S. 132(4) 143(2), 292C, ITATR. 27.]

Dy. CIT v. Shikshana Prasaraka Mandali Sharda Sabhagruha (2022) 219 TTJ 518 (Pune)(Trib)

S. 153C : Assessment-Income of any other person-Search-Search on 27-10-2014-Seized Ledger account of transactions of person in respect of whom search conducted forwarded with satisfaction note to Assessing Officer of Assessee-Cannot be said to be belonging to assessee-Order is void ab initio-Pre amended law to be applied. [S. 132]

Nalin Vyas v. ITO (2022) 98 ITR 680 (Mum.) (Trib.)

S. 153B : Assessment-Search-Time limit-DNCR not handwritten in assessment order-Order was not passed within limitation period-Order liable to be quashed as beyond limitation. [S. 132, 153D]

Sujata Panda v. ACIT (2022) 220 TTJ 899 (Cuttack) (Trib)

S. 153A : Assessment-Search or requisition-Assessment-Limitation-The JCIT granted the approval u/s. 153D on 30/12/2016 does not prove that the order has been passed on 30/12/2016 and hence the assessment order purported to have been passed on 30/12/2016 is barred by limitation and therefore quashed. [S. 153, 153D 153B]

Sujata Panda v. ACIT (2022) 220 TTJ 899 / 220 DTR 185 (Ctk) (Trib.)

S. 153A : Assessment-Search or requisition-Cash credits-Share capital-Share premium-Burden discharged-Proviso to S. 68 inserted w.e.f. 1st April, 2013 is prospective in nature, application from AY. 2013-14 onwards-Addition was deleted [S. 56(2)(vib), 68, 133(6)]

ACIT v. Suryadev Alloys & Power (P) Ltd. (2022) 217 TTJ 537 (Chennai) (Trib) ACIT v. BMP Steels (P) Ltd (2022) 217 TTJ 537 (Chennai) (Trib)

S. 153A : Assessment-Search or requisition-Loose papers-Sale of scrap-Entries were for the financial year 2014-15-Assessee offered the income for the AY. 2015-16- Assessing Officer estimated the income in all units from the assessment years 2009-10 to 2015-16-Addition was deleted-Share capital-Group companies-Sufficient source-Addition was deleted. [S. 68]

Uma Polymera Ltd. v. Dy. CIT (2022) 219 TTJ 47 / 217 DTR 353 (Mum)(Trib)

S. 153A : Assessment-Search or requisition-Search and seizure-Wrongly adopting the figure of unaccounted assets in place of the unaccounted capital offered by the assessee in the return of income-Deletion of addition was affirmed.

ACIT v. River Valley Flour Mills (P) Ltd. (2022) 220 TTJ 127/220 DTR 55 (Pat) (Trib) ACIT v. Chandana Kothari (Smt) & Ors. (2022) 215 TTJ 729 /211 DTR 149 (Nag) (Trib)

S. 153A : Assessment-Search or Requisition-Seized material had not been corroborated-Addition was deleted. [S. 4, Indian Evidence Act, 1872, S. 65B(4)]

ACIT v. Anand Jaikumar Jain (2022) 215 DTR 309 / 218 TTJ 813 / (2023) 147 taxmann.com 125 (Mum) (Trib)

S. 153A : Assessment-Search or requisition-Settlement Commission-Assessment of third person-Double taxation-Long-term capital gains-Capital gains relating to assessee already disclosed and taxed in hands of firm, in which the assessee was partner, and accepted by Settlement Commission-Cannot be taxed again in hands of assessee. [S. 10(38), 45, 132, 153C, 245A(4), 245D]

Radhika Goel (Smt) v. Dy. CIT (2022) 95 ITR 39 (Chd)(Trib)