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. 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.)