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. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Cash credits-Bogus accommodation entries-No details mentioned-Order was set aside for fresh determination. [S. 148, 148A(b) 148A(d), Art, 226]
Boutique International (P.) Ltd. v. Dy. CIT (2023) 290 Taxman 403 (Delhi)(HC)
S. 147 : Reassessment-Within four years-Capital gains-No failure to disclose material facts-Reassessment notice and order disposing of the objection was quashed. [S. 45, 68, 148, Art. 226]
Wilfred D’Souza v. ITO (2023) 290 Taxman 267 (Karn.)(HC)
S. 145 : Method of accounting-Rejection of accounts-Wholesale trader-Estimation of GP at 2% is held to be proper. [S. 260A]
Narender Kumar Anand v. PCIT (2023) 290 Taxman 386 (Delhi)(HC)
S. 144C : Reference to dispute resolution panel-Transfer pricing-Limitation-Order of Appellate Tribunal received by the AO in 2016 remanding the matter to DRP-DRP passed the order on 28-2-2020-Limitation for passing the order expired on 31-3 207-Direction and order passed by DRP on 28-2-2020 was barred by limitation. [S. 92CA, 153, 254(1), Art. 226]
Sanmina-SCI India (P) Ltd. v. Dy. CIT (2023) 459 ITR 487/ 290 Taxman 560 (Mad.)(HC)
S. 144B : Faceless Assessment-Principle of natural justice-Only four days’ time was given-Order was quashed and set aside [S. 11, Art. 226]
Urdu Education Society v. NFAC (2023) 290 Taxman 449 (Bom.)(HC)
S. 119 : Central Board of Direct Taxes-Intimation-Defective return-Failure to file audit report-Commissioner has the power to condone the delay-Order rejecting the application was quashed. [S. 119(2)(b), Form 3CB, Art, 226]
Narayanan Kollakkil Kutty v. PCIT (203) 290 Taxman 577 (Kar.)(HC)
S. 115JB : Book profit-Interest subsidy and excise refund-Capital receipt for purpose of book profit. [S. 4]
PCIT v. Krishi Rasayan Exports (P.) Ltd. (2023) 290 Taxman 567 (Cal.)(HC)
S. 92C : Transfer pricing-Arms’ length price-No addition can be made when any arrangement or transaction is an international transaction.
PCIT v. Amadeus India (P.) Ltd. (2023) 290 Taxman 201 (Delhi)(HC)
S. 80G : Donation-Capitalisation fee-Show cause notice for cancellation of registration-Remanded to Commissioner to pass a fresh order on an application filed by assessee after further order was passed in show cause notice seeking to cancel the registration granted. [S. 12A, 80G(5), R. 11A]
CIT v. Madras Medical Mission (2023) 290 Taxman 556 (Mad.)(HC)
S. 69A : Unexplained money-The direction of CIT(A) to give credit of Rs 50 lakhs was not complied with by the Assessing Officer-Court directed the petitioner to file an appeal before CIT(A). [Art. 226]
SNJ Distillers (P.) Ltd. v. DIT (Inc.) (2023) 290 Taxman 264 (Mad.)(HC)