S. 148 : Reassessment-Notice-Notice for assessment year 2013-14 was issued to assessee on 1-4-2021-limitation of issuing notice expired on 31-3-2021-Notice was time barred-Direction-CBDT-Since large number of writ petitions are being filed in which date and time of issuance of notice under section 148 are in dispute, Income-tax department to be directed to ensure that date and time of triggering of e-mail for issuing notices and orders are reflected in online portal relating to concerned assesses-Unless there is a stay obtained by authorities under Income-tax Act, 1961 from higher forum, mere fact of filing appeal or SLP will not entitle authority not to comply with order of High Court-Court directed the Registrar General to forward the copy of the judgement for circulating amongst authorities under the Income tax- Act , 19961 and for the observance of the principles of the judicial discipline and propriety. [S. 147, 260A, Art. 226]
Mohan Lal Santwani v. UOI (2022) 449 ITR 476/ 287 Taxman 634 / 218 DTR 313 / 329 CTR 113(All.)(HC)
Click here to download the pdf versions of the Digest of case laws S. 148 : Reassessment-Notice-Failure to dispose objections by passing speaking order-Order set aside for adjudication afresh. [S. 143(3), 147, Art. 226]
Kausalya Maruthachalam v. ACIT (2022) 287 Taxman 7/113 CCH 298 (Mad.)(HC)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)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)