{"id":55953,"date":"2025-08-16T10:28:39","date_gmt":"2025-08-16T04:58:39","guid":{"rendered":"https:\/\/itatonline.org\/digest\/acit-v-n-k-industries-ltd-2025-303-taxman-262-sc-editorial-n-k-industries-ltd-v-acit-2024-165-taxmann-com-194-gujhc\/"},"modified":"2025-08-16T10:28:39","modified_gmt":"2025-08-16T04:58:39","slug":"acit-v-n-k-industries-ltd-2025-303-taxman-262-sc-editorial-n-k-industries-ltd-v-acit-2024-165-taxmann-com-194-gujhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-n-k-industries-ltd-2025-303-taxman-262-sc-editorial-n-k-industries-ltd-v-acit-2024-165-taxmann-com-194-gujhc\/","title":{"rendered":"ACIT v. N.K. Industries Ltd. (2025) 303 Taxman 262 (SC) Editorial : N.K. Industries Ltd v. ACIT (2024) 165 taxmann.com 194 (Guj)(HC)"},"content":{"rendered":"<p><strong><br \/><\/strong>AO reopened assessment solely on NSEL\u2019s report that certain dues from assessee represented bogus sales, despite facts on record showing no transactions on NSEL during the year. HC quashed reopening as jurisdiction was assumed without basis. SLP by Revenue was dismissed both for delay of 122 days and \u00a0also on merits. (AY.2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 : Reassessment-Cash credits-Bogus sales-Special Audit report-Reopening based only on NSEL information-Delay of 122 days  not been satisfactorily explained-SLP dismissed both for delay and on merits. [S. 68, 143(3), 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-55953","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-eyt","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55953","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=55953"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55953\/revisions"}],"predecessor-version":[{"id":55954,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55953\/revisions\/55954"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=55953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=55953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=55953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}