S. 148 : Reassessment-Notice-Validity of E-notices-Mere digitally signing of notice under section 148 would not be issuance of notice, reassessment notices would be said to be digitally issued on date when same were e-mailed to petitioner-Since deadline for passing assessment order in most cases was 31-3-2022, proceedings pursuant to impugned reassessment notices were to be stayed till further orders. [S. 147, 149, Art. 226]
Sharad Garg v. ITO (2022) 287 Taxman 207/113 CCH 213 (Delhi)(HC)
Digest of case laws
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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. 148 : Reassessment-Notice-Merger-Succession to business otherwise than on death-Notice issued in the name of non-existent company-Notice is bad in law. [S. 147, 170, 292B, Art. 226]
Vahanvati Consultants (P) Ltd. v. ACIT (2022) 448 ITR 258/138 taxmann.com 51 (Bom.)(HC) Editorial: SLP of Revenue disposed off granting liberty to pursue appropriate proceedings in accordance with law by way of a review before High Court, ACIT v. Vahanvati Consultants (P) Ltd. (2022) 287 Taxman 176/131 CCH 161 (SC)S. 147 : Reassessment-Deposit of cash in Bank-Unexplained money-Demonetization deposit-No supporting evidence was available-Reassessment notice was justified. [S. 69A, 148, Art. 226]
Sanjay Kapur v. ACIT (2022) 138 taxmann.com 206 (Delhi)(HC) Editorial : SLP of assessee dismissed as withdrawn, Sanjay Kapur v. ACIT (2022) 287 Taxman 225 /113 CCH 160 (SC)S. 147 : Reassessment-Unexplained expenditure-Information from investigation wing-Overdraft account-Interest free loan-Reassessment notice is justified. [S. 69C, 148, Art. 226]
Kedar Nath Babbar v. ACIT (2022) 287 Taxman 417/215 DTR 227/ 329 CTR 131 (Delhi)(HC)S. 147 : Reassessment-Unexplained moneys-Cash deposited in bank-Demonetization period-Explanation was furnished in the assessment proceedings-Reassessment proceedings on same set of facts would amount to mere change of opinion-Notice was quashed. [S. 69A, 148, Art. 226]
Awlesh Kumar Singh v. UOI (2022) 287 Taxman 596/(2023) 332 CTR 231/ 224 DTR 300 (All.)(HC)S. 147 : Reassessment-Cash credits-Information from Investigation Wing-Search and Seizure-Purchase of property-Cash payment-Reassessment notice is valid. [S. 132, 143(1), 148, Art. 226]
Pushpa Yadav v. ITO (2022) 287 Taxman 305/215 DTR 66/327 CTR 333 (All.)(HC)S. 147 : Reassessment-Penny Stock-Bogus capital gains-Accommodation entries-Information from Investigation Wing-Reassessment notice is valid. [S. 68, 69, 148, Art. 226]
Pushpa Uttamchand Mehta v. ITO (2022) 287 Taxman 483 / 114 CCH 314 (Guj.) (HC)S. 147 : Reassessment-Share application money-Shell companies-Operating from Kolkata-Reassessment notice is valid. [S. 69A, 148, Art. 226]
Ambuj Foods (P) Ltd. v. PCIT (2022) 287 Taxman 490/ 212 DTR 460/ 326 CTR 352 (All.)(HC)S. 147 : Reassessment-Cash credits-Source of loan explained-Change of opinion-Reassessment notice is not sustainable. [S. 68, 133(6), 148, Art. 226]
Vapi Infrastructure and Industrial Township LLP v. ITO (2022) 287 Taxman 468/114 CCH 97 (Bom.)(HC)S. 147 : Reassessment-Carryforward and set off of brought forward losses-Business expenditure-Tax Audit Report-Provided all details in repose to notice-Provided break-up of head-wise expenses and these figures were also mentioned in statement of profit and loss filed by assessee, reopening of assessment being mere change of opinion was not justified. [S. 37(1), 72, 148, Art. 226]
Tech Engg Project Services and Equipments (I) (P) Ltd. v. UOI (2022) 287 Taxman 24/ 220 CTR 209/ 329 CTR 665 113 CCH 282 (Bom.)(HC)