{"id":24032,"date":"2022-01-14T14:51:54","date_gmt":"2022-01-14T09:21:54","guid":{"rendered":"https:\/\/itatonline.org\/digest\/sharvah-multitrade-company-pvt-ltd-v-ito-bom-hc-www-itatonline-org\/"},"modified":"2022-04-24T13:41:16","modified_gmt":"2022-04-24T08:11:16","slug":"sharvah-multitrade-company-pvt-ltd-v-ito-bom-hc-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/sharvah-multitrade-company-pvt-ltd-v-ito-bom-hc-www-itatonline-org\/","title":{"rendered":"Sharvah Multitrade Company Pvt Ltd v. ITO  ( 2022) 285 Taxman 397\/ 209 DTR 369\/324 CTR 366        (Bom (HC) www.itatonline .org."},"content":{"rendered":"<p>Allowing the writ petition the Court held that where the recorded reasons suggested that the assessee received bogus accommodation entries from itself, it was a clear case of non-application of mind in forming the recorded reasons for reopening. The High Court has suggested that the CBDT could formulate a scheme to train officers for applying their mind in recording the reasons. Further, the CBDT to advise the concerned Commissioners to not grant approval under section 151 of the Income-tax Act, 1961 in a mechanical manner. Reassessment proceedings was\u00a0 quashed. \u00a0(AY. 2014 -15 ) \u00a0(ITO WP No. 3581 of 2021 dt. 20-12 &#8211; 2021)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147: Reassessment \u2013Reasons recorded \u2013 Cash credit- Accommodation entries-Sanction &#8211; Non-application of mind \u2013 Strictures &#8211; CBDT to formulate a Scheme to train officers for recording reasons \u2013 Commissioners to not to grant sanction in a mechanical manner \u2013 Reassessment proceedings  was quashed [S.  148 , 151, Art , 226]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-24032","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-6fC","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/24032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=24032"}],"version-history":[{"count":4,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/24032\/revisions"}],"predecessor-version":[{"id":26632,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/24032\/revisions\/26632"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=24032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=24032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=24032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}