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. 147 : Reassessment-With in four years-Specific queries raised by Assessing Officer and answered by assessee at time of original assessment-Change of opinion-Reassessment notice is not permissible. [S. 35D, 37(1), 148, Art. 226]

Dy. CIT v. Financial Software and Systems P. Ltd. (2022)447 ITR 370 / 218 DTR 489/ 329 CTR 36 (SC) Editorial : Financial Software and Systems P. Ltd. v. Dy. CIT (2022) 447 ITRR 352 (Mad)(HC)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Change of opinion-Reassessment is bad in law. [S. 148, Art. 226]

PCIT v. SBI (2022) 447 ITR 368 / 219 DTR 63/ 329 CTR 220/ 145 taxmann.com 33/( 2023) 290 Taxman 1 (SC) Editorial : Decision of Bombay High Court in State Bank of India v. ACIT (2019) 418 ITR 485 (Bom)(HC), affirmed.

S. 144B : Faceless Assessment-Assessment order passed without issuing notice-cum-draft assessment order-Violation of principles of natural justice-Alternate remedy not a bar to writ remedy-Assessment order and consequent demand notice and penalty proceedings set aside-Matter remanded to Assessing Officer. [144, 144B, 147, 156, 271(1)(c), Art. 226]

Jindal Realty Ltd. v. NFAC (2022) 447 ITR 302 (Delhi)(HC)

S. 143(3) : Assessment-Income from undisclosed sources-Finding of fact-No substantial question of law. [S. 132, 260A]

Nilambur Traders v. CIT (2022) 447 ITR 714 (Ker.)(HC)

S. 143(3) : Assessment-High-Pitched Assessment-Strictures-Instructions of CBDT to be followed-Tax payers are one of the important pillars of the Country-Their harassment not only causes a jolt to the economy of the country and employment but also comes in the way of economic policy of the Government including the policy “ Ease of Doing business “-The instruction dated April 23, 2022 issued by the Central Board of Direct Taxes, needs to be implemented. Truly and effectively-Writ of mandamus issued to the CBDT with detailed directions. [S. 119, Art. 226]

Harish Chandra Bhati v. PCIT (2022) 447 ITR 585 / 327 CTR 263 / 215 DTR 81 (All.)(HC)

S. 132B : Application of seized or requisitioned assets-Cash seized-Assessment quashed-Direction issued to dispose pending application expeditiously. [S. 132, 132B(4)(b), 244A, Art. 226]

Yogendra Kumar Gupta v. PCIT (2022) 447 ITR 775 (Delhi)(HC)

S. 127 : Power to transfer cases-Order of transfer to facilitate investigation in to evasion of tax-Order of transfer is valid. [S. 124(1), Art. 226]

Kamlesh Rajnikant Shah v. PCIT (2022) 447 ITR 196/ 287 Taxman 504/ (2023) 333 CTR 709 (Guj.)(HC)

S. 127 : Power to transfer cases-Assessee aware of real reason for transfer of case-Natural justice-Public interest can justify Violation of principle of Audi Alteram Partem. [Art. 226]

Aditya Tripathi v. PCIT (2022) 447 ITR 469 / 326 CTR 833 / 287 Taxman 144 (MP)(HC)

S. 115JB : Book profit-Electricity-Provisions as it stood prior to amendment not applicable to electric company.

PCIT v. Ajmer Vidyut Vitran Nigam Ltd. (2022) 447 ITR 186 (Raj.)(HC)

S. 115JB : Book profit-Provisions not applicable to Electricity Boards or similar entities totally owned by State or Central Government.

Dy. CIT v. Kerala State Electricity Board (2022) 447 ITR 193/ 288 Taxman 728 / 217 DTR 161/ 328 CTR 265(SC) Editorial : Kerala State Electricity Board v. Dy. CIT (2010) 329 ITR 91 / 2011) 196 Taxman 1 (Ker)(HC)