{"id":59758,"date":"2026-04-28T09:23:12","date_gmt":"2026-04-28T03:53:12","guid":{"rendered":"https:\/\/itatonline.org\/digest\/adeshwara-cement-co-pvt-ltd-through-director-kushal-mohit-shah-v-acit-2024-166-taxmann-com-583-2025-481-itr-282-gujhc-editorial-acit-v-adeshwar-cement-co-p-ltd2025-306-taxman-2\/"},"modified":"2026-04-28T09:23:12","modified_gmt":"2026-04-28T03:53:12","slug":"adeshwara-cement-co-pvt-ltd-through-director-kushal-mohit-shah-v-acit-2024-166-taxmann-com-583-2025-481-itr-282-gujhc-editorial-acit-v-adeshwar-cement-co-p-ltd2025-306-taxman-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/adeshwara-cement-co-pvt-ltd-through-director-kushal-mohit-shah-v-acit-2024-166-taxmann-com-583-2025-481-itr-282-gujhc-editorial-acit-v-adeshwar-cement-co-p-ltd2025-306-taxman-2\/","title":{"rendered":"Adeshwara Cement Co. Pvt. Ltd. (through director Kushal Mohit Shah) v. ACIT [2024] 166 taxmann.com 583 \/ (2025) 481 ITR 282 (Guj)(HC) Editorial : ACIT v. Adeshwar Cement Co (P.) Ltd(2025) 306 Taxman 271 (SC), SLP of revenue dismissed for failure to explain delay of 196 days."},"content":{"rendered":"<p><strong>\u00a0<\/strong><\/p>\n<p>\u00a0Assessee-company filed its return of income and an assessment order was passed under section 143(3) of the Act.\u00a0 Subsequently, Assessing Officer issued a reassessment notice on ground that assessee-company had generated non-genuine gain by trading in shares of kushal goup\u00a0 which had escaped assessment\u00a0 On writ it\u00a0 was contended that even if addition was made as proposed by Assessing Officer, being income escaped from assessment, there would not be any taxable income after proposed addition as income would be taxed under section 115JB. High Court quashed the reassessment notice and order disposing the objection. (AY. 2017-18)<\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 : Reassessment-With in four years-Cash credits-Capital gains0  Book profit-Notice issued based on information in Insight Portal-Price manipulation in shares-Assessing Officer had no other specific information relating to assessee&#8217;s share transactions-Notice quashed.[S. 45, 68  115JB, 143(3), 147, 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-59758","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fxQ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59758","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=59758"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59758\/revisions"}],"predecessor-version":[{"id":59759,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59758\/revisions\/59759"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=59758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=59758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=59758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}