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-Assessing officer vested with jurisdiction over assessee can issue notice-Pecuniary limits had been laid down for distribution of work among assessing officers would not divest assessing officer of his jurisdiction-Notice valid. [S. 120, 124, 147, Art. 226]

Shivaaditiya Jems and Jewellery Pvt. Ltd. v. ITO (2023) 450 ITR 483/ 331 CTR 245 (All.)(HC)

S. 147 : Reassessment-No new tangible material-Order passed without disposing the objection-Change of opinion-Reassessment order mere reproduction of reasons recorded-Reassessment order was quashed. [S. 69A, 148, 156, Art. 226]

TUFF Tubes (Orissa) Pvt. Ltd. v. DCIT (2023) 450 ITR 654 (Orissa)(HC)

S. 147 : Reassessment-Change of status-Denial of exemption-Failure to respond notices-Order of assessment justified-Writ petition dismissed-Given liberty to file statutory appeals. [S. 80P(2)(a)(vii), 139, 148, Art. 226]

Tamil Nadu State Apex Fisheries Co-Operative Federation Ltd. v. ITO (No. 2) (2023) 450 ITR 365/331 CTR 204 / 223 DTR 38/ 147 taxmann.com 303 (Mad.)(HC) Editorial: Decision of single Judge in Tamil Nadu State Apex Fisheries Co-Operative Federation Ltd v. ITO (No. 1) (2023) 450 ITR 362 / 331 CTR 207(Mad)(HC), affirmed.

S. 147 : Reassessment-Reasons recorded mere repetition of report of deputy director (Inv)-Failure to supply documents which were basis for formation of belief-Reassessment order and consequential notice of demand set aside. [S. 133A, 143(3), 148, 156, Art. 226]

Sri Laxmi Narayan Agency v. ITO (2023) 450 ITR 650 / 292 Taxman 192 (Orissa)(HC)

S. 147 : Reassessment-With in four years and beyond four years-Audit objection-Depreciation-Assessing Officer rejecting audit objection-Existence of alternate remedy is not an absolute bar for issue of writ-Notice based on audit objection is held to be not valid. [S. 32, 148, Art. 226]

Mobis India Ltd. v. Dy. CIT (2023) 450 ITR 60 / 332 CTR 775/ 224 DTR 37 (Mad.)(HC) Editorial: Decision in Mobis India Ltd. v. Dy. CIT (2016) 380 ITR 170 (Mad)(HC), set aside.

S. 147 : Reassessment-With in four years-Change of opinion-capital gains-Expenditure incurred in terms of settlement to assessee’s sisters from sale consideration of property and indexation benefits and other legal expenses-No failure to disclose material facts-Order disposing objection and notice for reopening was quashed and set aside. [S. 45, 48, 148, Art. 226]

Deepak Kapoor v. PCIT (2023) 450 ITR 301 / 221 DTR 330 / 331 CTR 220(Delhi)(HC)

S. 147 : Reassessment-After the expiry of four years-Based on audit report-Change of opinion-No new material-Reassessment notice and order disposing the objection was quashed. [S. 148, Art. 226]

Kalinga Institute Of Industrial Technology v. ACIT (2023) 450 ITR 657 (Orissa)(HC)

S. 147 : Reassessment-After the expiry of four years-Land taxes-Leave encashment-Gratuity-Demerger-No failure to disclose material facts-Order disposing objection and notice of reassessment was quashed. [S. 43B, 148, Art. 226]

GET and D India Ltd. v. ACIT (2023) 450 ITR 87 (Mad.)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Change of opinion-Provision for customs duty, advance doubtful of recovery and provisions of non-moving inventory-Notice and order rejecting objections was quashed. [S. 115JB, 148, Art. 226]

Mangalore Refinery and Petrochemicals Ltd. v. Dy. CIT (2023) 450 ITR 82 (Bom.)(HC)

S. 147 : Reassessment-Rectification of mistake-Notice for reopening assessment not permissible during pendency of proceedings for rectification-Reassessment proceedings not sustainable-Order of High Court set aside. [S. 80HHC, 148, 154(7)]

S. M. Overseas Pvt. Ltd. v. CIT (2023) 450 ITR 1/ 291 Taxman 441 (SC) Editorial: Decision in CIT v. S. M. Overseas Pvt. Ltd. (2011) 355 ITR 281 (P& H)(HC) reversed.