{"id":31445,"date":"2022-12-26T11:10:49","date_gmt":"2022-12-26T05:40:49","guid":{"rendered":"https:\/\/itatonline.org\/digest\/hanwant-manbir-singh-v-dy-cit-bom-hcur\/"},"modified":"2022-12-26T11:10:49","modified_gmt":"2022-12-26T05:40:49","slug":"hanwant-manbir-singh-v-dy-cit-bom-hcur","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/hanwant-manbir-singh-v-dy-cit-bom-hcur\/","title":{"rendered":"Hanwant Manbir Singh v. Dy. CIT (Bom.)(HC)(UR)"},"content":{"rendered":"<p>Investments have been made by petitioner in shares of M\/s. Poona Galvanizers Pvt. Ltd., (PGPL) and shares of M\/s. Karamtara Fasteners Pvt. Ltd. (KFPL). DCIT Mumbai after raising a query on the share holding pattern of PGPL and KFPL from whom PGPL had taken loan; passed the assessment order taxing a sum of Rs.1,07,33,270\/-as deemed dividend under Section 2(22)(e) of the Act. PGPL challenged this order before CIT (A)). The CIT (A) held\u00a0 that\u00a0 amount of Rs.1,07,33,270\/-should have been brought to tax as deemed dividend under Section 2(22)(e) of the Act in the hands of petitioner who is having substantial interest and not PGPL and KFPL.\u00a0 Order was up held by the Appellate Tribunal even before the reasons for re-opening were recorded and even after the reasons was recorded and notice was issued to petitioner. On writ High Court quashed and and set aside the notice u\/s. 148 of the Act dated 25th January, 2014 and the order dated 16th March,2015\u00a0 (WP No. 954\/2014 dt. 11-3-2022. (AY.\u00a0 2008-09)<\/p>\n<p><a href=\"https:\/\/drive.google.com\/file\/d\/1aaF3r2FnKXaFjJ0TxqeZ6b52jna5z9YC\/view?usp=share_link\"><strong>Hanwant Manbir Singh v. Dy. CIT (Bom.)(HC)(UR)<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 : Reassessment-After the expiry of four years-Deemed dividend-No failure   to disclose truly and fully material facts-Referred 68 cases laws however not  stated how case laws are applicable to the facts-The  Order was  quashed by observing that the Faceless  Assessing Officer has wasted his time in writing unsustainable order on objects.  [S. 2(22)(e), 148, 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-31445","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8bb","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/31445","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=31445"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/31445\/revisions"}],"predecessor-version":[{"id":31446,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/31445\/revisions\/31446"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=31445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=31445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=31445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}