S. 144C : Reference to dispute resolution panel-Draft assessment order-Limitation-No objection raised by assessee-Assessment order passed on 27-9-2021-Barred by limitation. [Art. 226]
Renaissance Services Bv v. Dy. CIT (IT) (2022) 445 ITR 27 / 213 DTR 313/326 CTR 637/ 288 Taxman 244(Bom.)(HC)
Digest of case laws
Online digest of latest case laws
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
Click here to download the pdf versions of the Digest of case laws S. 144B : Faceless Assessment-Advance received from clients-For failure to file proper reply the assessment was made by making huge addition-On writ the order was quashed subject to assessee depositing a sum of Rs 5 crores-Directed the assessee to file reply in reassessment proceedings.[S. 69A, 143, Art, 226]
Hermes I Tickes (P.) Ltd. v. Dy. CIT (2022) 286 Taxman 18 / 210 DTR 142/ 324 CTR 645 (Mad.)(HC)S. 144B : Faceless Assessment-Natural justice-Opportunity of hearing-High Court set aside assessment for de novo consideration, with a direction to concerned authority to pass assessment order and strictly comply with mandatory provisions prescribed under section 144B, considering all submissions made by assessee and also granting a personal hearing [S. 143(3),144B(7), Art, 226]
Praful M. Shah v. NAFC (2022) 136 Taxmann.com 295 (Bom.)(HC) Editorial : Notice issued in SLP filed by assessee, Praful M. Shah v. NAFC (2022) 286 Taxman 263 (SC)S. 144B : Faceless Assessment-Best judgment assessment-Natural justice-Directed to afford due opportunity of hearing before passing final assessment order-Reassessment-Notices were seta side-Directed to consider objections and pass the order giving an opportunity of hearing. [S. 144 147, 148, 156, 270A, Insolvency and Bankruptcy Code, 2016, Art, 226]
Vadraj Energy (Gujarat) Ltd. v. ACIT (2022) 445 ITR 15 (Bom.)(HC)S. 144B : Faceless Assessment-Cash credits-Video conferencing-Natural justice-Opportunity of hearing-Matter remanded to Assessing Officer to pass a speaking order on merits. [Art. 226]
Arun Excello Foundations v. NFAC (2022) 445 ITR 642 / 286 Taxman 574 (Mad.)(HC)S. 143(2) : Assessment-Notice-Transfer from ITO, Ward-3 to ITO, Ward-4-Order passed by ITO, Ward-4 without issuing notice under section 143(2) of the Act-Order is null and void [S.120, 143(3)]
PCIT v. Nopany & Sons (2022) 286 Taxman 388 /(2023) 333 CTR 766(Cal.)(HC)S. 139 : Return of income-Difficulties in uploading Audit report-Revenue was directed to attend the technical glitches in portal at the earliest [Art, 226]
Chartered Accountants Association v. UOI (2022) 286 Taxman 116 (Guj.)(HC)S. 115JB : Book profit-Retention money-Not to be included in computing book profits.
PCIT v. MC Nally Sayaji Engineering Ltd. (2022) 286 Taxman 673 (Cal.)(HC)S. 115JB : Book profit-Statutory corporation-Provision is not be applicable to a statutory corporation constituted by notification of State of Kerala. [Electricity Supply Act, 1948, S. 5]
PCIT v. Kerala State Electricity Board (2022) 137 taxmann.com 85 (Ker.)(HC) Editorial : Notice issued in SLP filed by Revenue, PCIT v. Kerala State Electricity Board. (2022) 286 Taxman 438 (SC)S. 115JB : Book profit-Electricity Company-Company engaged in generation and supply of electricity-Not required to prepare its profit and loss account and balance sheet as per Parts II and III of Schedule VI of Companies Act-Provision of book profit not applicable.
PCIT v. Atria Power Corporation Ltd. (2022) 138 taxmann.com 270 (Karn.)(HC) Editorial : SLP granted to Revenue; PCIT v. Atria Power Corporation Ltd. (2022) 286 Taxman 636 (SC)