{"id":38231,"date":"2023-12-28T14:37:53","date_gmt":"2023-12-28T09:07:53","guid":{"rendered":"https:\/\/itatonline.org\/digest\/munjal-m-jaykrishna-family-trust-v-ito-2023-293-taxman-665-333-ctr-364-guj-hc\/"},"modified":"2023-12-28T14:37:53","modified_gmt":"2023-12-28T09:07:53","slug":"munjal-m-jaykrishna-family-trust-v-ito-2023-293-taxman-665-333-ctr-364-guj-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/munjal-m-jaykrishna-family-trust-v-ito-2023-293-taxman-665-333-ctr-364-guj-hc\/","title":{"rendered":"Munjal M Jaykrishna Family Trust v. ITO (2023) 293 Taxman 665 \/333 CTR 364 (Guj.)(HC)"},"content":{"rendered":"<p>The assessee challenged the notice of reassessment.\u00a0\u00a0 Court held that\u00a0 the Assessing Officer had found that there was likelihood of acts and instance of insider trading by assessee.\u00a0 Beneficiaries, it was noticed, were promoters group consisting of family member\u00a0 and the assessee was prima facie found to have earned income which was chargeable to tax but same was not shown in return of income. Accordingly there being a strong foundation for invoking reassessment, challenge to impugned notice under section 148 was\u00a0 dismissed. AY. 2017-18)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 : Reassessment-With in four years-Long term capital gains from equities-Instances of insider trading-Formation of opinion based on prima facie, but precise facts-Strong foundation for invoking reassessment-Challenge to  notice  was dismissed.[S. 10(38), 45, 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-38231","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9WD","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38231","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=38231"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38231\/revisions"}],"predecessor-version":[{"id":38232,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38231\/revisions\/38232"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=38231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=38231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=38231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}