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. 148 : Reassessment-Notice-Dispatched by speed post within time but retuned by postal authorities-Notice never served-Reassessment proceedings in valid. [S. 147, 149]

Rohtash v. ITO (2022) 94 ITR 56 (SN) (Delhi)(Trib.)

S. 147 : Reassessment-Accommodation entries-Information from Investigation Wing-Borrowed satisfaction-Reassessment is not valid-Judicial discipline-CIT(A) is bound to follow the order of Jurisdictional Tribunal-Share capital-Letter of confirmation was filed-Addition as cash credits is not justified. [S. 68, 148, 254(1)]

Kalyan Jewells P. Ltd. v. ITO (2022) 94 ITR 42 (SN) (Ahd.)(Trib.)

S. 147 : Reassessment-Rectification proceedings initiated but not rectified-Reassessment proceedings initiated for same reasons-Held to be not valid. [S. 148, 154]

Morgan Ventures v. Dy. CIT (2022) 94 ITR 15 (Delhi)(Trib.)

S. 147 : Reassessment-Business connection-No new tangible material-Reassessment is bad in law. [S. 9(1)(i), 148]

Bentley Nevada Inc. v. DCIT (2022) 194 ITD 10 / 94 ITR 503 (Delhi)(Trib.)

S. 147 : Reassessment-After the expiry of four years-Search and Seizure-General information from Investigation wing-No failure to disclose material facts-Re assessment not valid. [S. 148]

Prakash Chand Kothari v. Dy. CIT (2022) 94 ITR 49 (Jaipur)(Trib.)

S. 145 : Method of accounting-Estimation of income in an arbitrary, capricious, and wild manner is not permitted in the eyes of the law and must be on a reasonable basis in congruent to the result of the prior previous years. [S. 145(3)]

ITO v. Bhagchand Jain (2022) 94 ITR 472 / 217 TTJ 202 (Jaipur)(Trib.)

S. 145 : Method of accounting-Disputed amount-The tax paid in subsequent year-Double taxation-Same income cannot be taxed twice. [S. 4,5]

ACIT v. Uttaranchal Jal Vidyut Nigam Ltd. (2022) 94 ITR 435 (Delhi)(Trib.)

S. 144 : Best judgment assessment-Estimation of income must be on reasonable basis in congruent to the result of the prior previous years-Principle of consistency must be followed. [S. 143(3)]

DCIT v. Bridge & Building Construction Co. (P.) Ltd. (2022) 94 ITR 515 (Kol.)(Trib.)

S. 143(3) : Assessment-Computation-Income from other sources-Mistake in computation sheet-Directed to take correct figure thereafter to compute tax payable which should be nil. [S. 144C(13)]

Timblo Shipyards P. Ltd. v. NEAC (2022) 94 ITR 53 (SN) (Mum.)(Trib.)

S. 143(3) : Assessment-Deduction of tax at source-Mismatch-Income declared no deduction of tax at source claimed-Deletion of addition is proper. [Form No. 26AS]

ACIT v. Silver Jubilee Motors Ltd. (2022) 94 ITR 19 (Trib.) (SN) (Pune)(Trib.)