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-Double taxation avoidance agreements-Tax Residency Certificate granted by another country-Binding on Income-Tax Authorities in India-Notice of reassessment is not valid-DTAA-India-Singapore. [S. 90(2), 133(6), 148, Art. 13(4), Art. 226]

Blackstone Capital Partners (Singapore) Vi Fdi Three Pte. Ltd. v. ACIT (IT) (2023) 452 ITR 111 / 331 CTR 1/222 DTR 265 / 146 taxmann.com 569 (Delhi)(HC)/Editorial : Notice issued in SLP against High Court order, ACIT v . Blackstone Capital Partners (Singapore) Vi Fdi Three Pte. Ltd ( 2024) 297 Taxman 223 ( SC) / SLP granted , ACIT v . Blackstone Capital Partners (Singapore) Vi Fdi Three Pte. Ltd ( 2024) 297 Taxman 387 ( SC)

S. 147 : Reassessment-Change of opinion-Notice and order-disposing the objection was quashed. [S. 148, Art. 226]

Arshad Alibhai Nathani v. ACIT (2023) 452 ITR 301 (Bom.)(HC) Editorial : SLP of Revenue dismissed, CIT v. Arshad Alibhai Nathani(2023) 452 ITR 415 (St)(SC)

S. 147 : Reassessment-After the expiry of four years-Sale of shares-Oversight of the Assessing officer-No failure to discloses material facts-Reassessment notice and order disposing the objection was quashed. [S. 54EC, 148, 153A, Art. 226]

Ashraf Alibhai Nathani v. ACIT (2023) 452 ITR 292 / 211 DTR 336 (Bom.)(HC)

S. 147 : Reassessment-After the expiry of four years-Change of opinion-Reassessment notice and order disposing the objection was quashed. [S. 148, Art. 226]

Oracle Financial Services Software Ltd. v. ACIT (No. 2) (2023) 452 ITR 279 (Bom.)(HC)

S. 147 : Reassessment-Change of opinion-Facts available in the original assessment proceedings-Reassessment is not valid. [S. 143(3), 148, Art. 136]

JCIT v. Cognizant Technology Solutions India Pvt. Ltd. (2023) 452 ITR 224 / 291 Taxman 526/(2024) 336 CTR 247 (SC) Editorial : Cognizant Technology Solutions India Pvt. Ltd v. ACIT(2021) 439 ITR 571 (Mad)(HC) is affirmed.

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Assessee is not required to state law which department feels attracted. [S. 148, Art. 136]

ACIT v. Oracle Financial Services Software Ltd. (2023) 452 ITR 280 (SC) Editorial: Oracle Financial Services Software Ltd. v. ACIT (No. 2) (2023) 452 ITR 279 (Bom)(HC), affirmed.

S. 145 : Method of accounting-Rejection of books of account-Estimation of profit 0.5 per cent-Question of fact. [S. 145(3), 260A]

PCIT v. Kandla Steel Pvt. Ltd. (2023) 452 ITR 22 (Guj.)(HC)

S. 144C : Reference to dispute resolution panel-Draft assessment order-Limitation-Direction of Commissioner does not extend limitation. [S. 92CA(3), 144A, 153]

Pfizer Healthcare India Pvt. Ltd. v. Dy. CIT (2023) 452 ITR 187/334 CTR 944 / 151 taxmann.com 200 (Mad.)(HC)

S. 144B : Faceless Assessment-Prior to 1-4-2021-Order passed without notice-cum-Draft assessment order-No opportunity of hearing-Order of assessment was not valid-High Court-Territorial Jurisdiction-Part of cause of action arising in a particular area-High Court of that area has jurisdiction. [S. 143(3), Art. 226]

Arista Infrastructure v. ITO (2023) 452 ITR 172/292 Taxman 226 /335 CTR 848 (Guj.)(HC)

S. 132(4) : Search and seizure-Statement on oath-Income from undisclosed sources-Income surrendered during search-Retraction of statement after eight months-Statement cannot be discarded. [S. 131, 132, Art. 136]

Roshan Lal Sanchiti v. PCIT (2023) 452 ITR 229/ 292 Taxman 69 (SC) Editorial : PCIT v. Roshan Lal Sanchiti (2023) 150 taxmann.com 227 (Raj)(HC)(D.B. I.TA. No. 47 of 2018 dt. 30-10-2018 (Raj)(HC), affirmed.