Plaza Cable Industries Ltd Vs DCIT (ITAT Delhi) -
Plaza Cable Industries Ltd Vs DCIT (ITAT Delhi) The maintainability of jurisdiction under Section 147 of the Act is central to the controversy in the instant case. On perusal of the reasons recorded under Section 148(2) of the Act qua the alleged escapement as reproduced in paragraph 6 above, it is straightaway noticed that the […]...
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Bharat Singh Vs ITO (ITAT Delhi) -
Assessment framed by the AO is on other issues which is not part of the reasons recorded for reopening the assessment. In such a situation, the assessment order is not sustainable in the eye of law....
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ACIT Vs Lekhraj & Sons (ITAT Delhi) -
ITAT held that the absence of service of notice u/s 148/143(2) of the Act, reassessment framed u/s 147 r.w.s 143(3) of the Act will be null and void....
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Mamta Gupta Vs ACIT (Delhi High Court) -
HC held that despite lapse of four years and a scrutiny assessment, there is fresh tangible material in the present case in the form of information of beneficiaries of bogus LTCL/STCL report prepared by the office of Deputy Director of Income Tax (Investigation) which reveals that Mahanivesh (India) Ltd. is a penny stock whose share price...
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Assistant Commissioner of Income Tax Vs M. K. Wood India Pvt. Ltd. (ITAT Delhi) -
Merely reproducing the conclusions of investigation report in his own words is indeed borrowed satisfaction as contended by counsel for the assessee. Consequently, the Bench is inclined to decide these grounds of cross objection in favour of the assessee....
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Harsh Kaushal Corporation Vs Income Tax Officer (Bombay High Court) -
Harsh Kaushal Corporation Vs ITO (Bombay High Court) In the present case, it is evident from the reasons recorded for reopening that the petitioner had truly and fully disclosed all material facts necessary for the purpose of assessment. In fact, in the reasons for reopening, there is not even a whisper as to what was […]...
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Maya Rathi Vs ITO (Rajasthan High Court) -
Maya Rathi Vs ITO (Rajasthan High Court) We find that the validity of first proviso to Section 148 of Income Tax Act, 1961 has been assailed on the ground that the explanation ‘income chargeable to tax has escaped assessment’, has been restricted in its meaning under the explanation-1 to that provisions. Learned counsel for th...
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Jasmine Bonny Agitok Sangma Vs Union of India (Meghalaya High Court) -
Impugned order under clause (d) of Section 148A of the Act was issued on April 1, 2022 without taking the petitioner’s response to the initial notice into consideration....
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Uma Strips Ltd. Vs DCIT (ITAT Delhi) -
Uma Strips Ltd. Vs DCIT (ITAT Delhi) In this case ITAT find that there is no live link presented by the AO between the material available with him i.e. the report of the investigation and to reason to belief that the assessee has tried to evade the assessment for the particular year in question. Simply […]...
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Giant Construction Company Vs DCIT (Madras High Court) -
Giant Construction Company Vs DCIT (Madras High Court) The petitioner assails the communication dated 21.04.2022 by which the objections raised by the petitioner to the reopening of the assessment were rejected. The petitioner asserts that the impugned communication is in contravention of the amended Section 148-A of the Income Tax Act, 1...
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