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-Proceedings against company after approval of resolution plan for period prior to closure-Notice quashed with liberty to take action in accordance with law against ex-promoters. [S. 147, Art. 226]

PCIT v. Patanjali Foods Ltd. (formerly known as Ruchi Soya Industries Ltd.)(2024) 161 taxmann.com 675 /(2025) 474 ITR 333 (Bom)(HC) Editorial : SLP of revenue dismissed, PCIT v. Patanjali Foods Ltd (2025) 474 ITR 339 (SC)

S.148: Reassessment-Notices after approval of resolution plan for period prior to closure-Notice quashed; liberty to take action against ex promoters-SLP dismissed. [S. 147, Art. 136]

PCIT v. Patanjali Foods Ltd (2025) 474 ITR 339 (SC) Editorial : PCIT v. Patanjali Foods Ltd. (2024) 161 taxmann.com 675 / (2025) 474 ITR 333 (Bom)(HC) affirmed.

S. 147 : Reassessment-Capital gains-Sale of shares-Reasons recorded cryptic and vague-Notice not valid. [S. 45, 143(3), 148, Art. 226]

Girishbhai Dahyabhai Patel (through Power of Attorney Jitesh Ranchhodbhai Patel) v. Dy. CIT (2025) 474 ITR 299 (Guj)(HC)

S. 147 : Reassessment-Disposal of objections-Combined order disposing objections and completing reassessment-Breach of natural justice-Alternative remedy-Appeal was filed to protect from bar of limitation-Notice and order quashed-Statement to withdraw the appeal within 15 days accepted. [S. 80-IA,143(3), 148, 151, 246A, Art. 226]

Kesar Terminals & Infrastructure Ltd. v. Dy. CIT, (2025) 474 ITR 498/ 171 taxmann.com 800 (Bom) (HC)

S. 147 : Reassessment-Query raised during assessment proceedings-Change of opinion-Reopening not justified. [S. 36(1)(viia), 148, 149, Art. 226]

Yes Bank Ltd. v. ACIT [2024] 160 Taxmann.com 329 / (2025) 474 ITR 430 (Bom) (HC) Editorial: SLP of Revenue dismissed for delay (162 days) and on merits ACIT v. Yes Bank Ltd., (2025) 303 Taxman 260 (SC).

S. 147 : Reassessment Infrastructure undertaking-Change of opinion-Query was raised in original assessment proceedings-Reassessment notice and order disposing the objection was quashed. [S.80IA(4)(iii), 148, Art. 226]

Diamond and Gem Development Corporation Ltd. v. ACIT [2023] 155 taxmann.com 239 (Bom)(HC)

S. 147 : Reassessment-Change of opinion-Foreign exchange loss-Reopening on forex loss already examined earlier held invalid. [S. 37(1), 148, Art. 226]

Meer Gems v. ACIT [2023] 154 taxmann.com 646 (Bom)(HC) Editorial : SLP dismissed, ACIT v. Meer Gems [2023] 295 Taxman 120 (SC).

S. 147 : Reassessment-Survey-Information related to third parties-Borrowed satisfaction-Change of opinion-Notice and order disposing the objection were quashed. [S. 133A, 148, Form 15CA, Art. 226]

Gokul Agro Resources Ltd. (through director Jayesh Kanubhai Thakkar) v. Dy. CIT(No. 1) (2025) 474 ITR 555 (Guj) (HC)/Editorial : SLP of revenue dismissed ,the delay of 181 was not satisfactorily explained and also on merits . Dy. CIT v. Gokul Agro Resources Ltd. (2025) 476 ITR 160/304 Taxman 425 (SC)

S. 147 : Reassessment-After the expiry of four years-Agricultural land-Capital gains-Adventure in the nature of trade-No new material-Re assessment notice and order disposing the objection were quashed. [S. 2(14)(iii)(b),28(i), 45, 143(3), 148, Art. 226]

Dinesh Singla v. ACIT (2025) 474 ITR 532 (P & H)(HC)

S.147: Reassessment-After the expiry of four years-Share capital-Parent company-Source explained-Re assessment notice and order disposing objection quashed..[S. 68, 143(1), 143(3), 148, Art. 226]

Experion Hospitality Pvt. Ltd v. ITO (2025) 474 ITR 358 (Delhi)(HC)