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-Assessment reopened on certain specific grounds-No addition was made on which the reassessment notice was issued-Additions made on other grounds-Reassessment is bad in law. [S. 143(3)]
Satyawan v. ITO (2022)97 ITR 16 (SN) (Delhi) (Trib)
S. 147: Reassessment-No new tangible material to reopen assessment-Reassessment quashed. [S. 148]
Sanjit Jitendranath Biswas v. ITO (2022)97 ITR 14 (SN) (Surat) (Trib)
S. 147: Reassessment Notice-Failure to issue notice-Reassessment void-Issue of notice prior to filing return of no avail. [S. 143(2) 148, 292BB]
Bhupendra K. Pathak v. ITO (2022)97 ITR 28 (SN)/ 218 TTJ 11 / 216 DTR 283 (SMC) (Pune) (Trib)
S. 147 : Reassessment-No new material-Cash credits-Income from undisclosed source-Assessee borrowed money from friends and relatives-No evidence to show the receipts as bogus-Reassessment was quashed. [S.68, 148]
Sanjit Jitendranath Biswas v. ITO (2022)97 ITR 14 (SN) (Surat) (Trib)
S. 147 : Reassessment-Unsecured loans-Accommodation entries-In reasons recorded, name of assessee and person from whom bogus accommodation entry different-Name of party and Permanent Account Number in information received also different-Reassessment not valid-Addition as cash credit was deleted. [S. 68, 133(6), 148]
Golden Central Foods Products P. Ltd. v. ITO(2022)100 ITR 49 (SN)(Delhi) (Trib)
S. 147 : Reassessment-Not made any addition pertaining to three-folded reasons for reopening the assessment-Cash credits-Reassessment order is bad in law.[S. 68, 148, 254(1)]
ITO v. Hassab Realty Pvt. Ltd. (2022) 99 ITR 315 (Pune) (Trib)
S. 147 : Reassessment-Best Judgment Assessment-Natural justice-Notice issued u/s 143(2)-Assessee was out of station-Not attended-Order was passed under section 144-Matter remanded for re-adjudication. [S.50C, 143(2),144, 148]
Gopi Kishan Pandey v.ITO (2022) 99 ITR 203 (Trib) (Lucknow)(Trib)
S. 147 : Reassessment-With in four years-Subsequent decision of High Court-Reassessment is valid [S. 148]
Dy. CIT v. Clarion Technologies (P) Ltd. (2022) 216 TTJ 23 (UO) (Pune)(Trib)
S. 147 : Reassessment-With in four years-Assessment year 2005-06 was the initial assessment year-Substantial expansion-No suppression of material-Reassessment is held to be bad in law [S. 80IC, 143(3), 148]
Valco Industries Ltd. v. ACIT (2022) 215 DTR 181 /218 TTJ 628 (Chd)(Trib)
S. 147 : Reassessment-Setting aside Tribunal’s order by high court revives appeal from date of inception-Jurisdiction open to question as matter not final. [S. 144C]
YCH Logistics (India) Pvt. Ltd. v. Dy. CIT (2022) 98 ITR 467 (Chennai) (Trib)