Tag Archives: HIGH COURT OF GUJARAT

Four-Year Delay In Recording Satisfaction Note Invaluates Search Proceedings Under Section 153C

By | August 19, 2026
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Four-Year Delay In Recording Satisfaction Note Invaluates Search Proceedings Under Section 153C Four-Year Delay In Recording Satisfaction Note Invaluates Search Proceedings Under Section 153C Issue Whether initiation of search assessment proceedings under Section 153C against a third party is legally sustainable when there is an unexplained delay of over four years between the search execution… Read More »

Reassessment Cannot Be Initiated On Mere Suspicion Without Information Indicating Escapement Of Recorded Business Income

By | August 19, 2026
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Reassessment Cannot Be Initiated On Mere Suspicion Without Information Indicating Escapement Of Recorded Business Income Reassessment Cannot Be Initiated On Mere Suspicion Without Information Indicating Escapement Of Recorded Business Income Issue Whether reassessment under Section 148 can be initiated on the basis of a Suspicious Transaction Report (STR) flagging high-value transactions, when all transactions are… Read More »

Cooperative Society Entitled To Section 80P Deduction And Full Additional Depreciation On Milk Processing Equipment

By | August 19, 2026
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Cooperative Society Entitled To Section 80P Deduction And Full Additional Depreciation On Milk Processing Equipment Issue Whether a cooperative society engaged in milk procurement is entitled to deduction under Section 80P(2)(d) on interest/dividend income earned from investments in other cooperative entities. Whether milk cans and related equipment qualify as plant and machinery eligible for additional… Read More »

Urban Development Authority Pursuing General Public Utility Objects Entitled To Exemption And Depreciation Benefits

By | August 19, 2026
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Urban Development Authority Pursuing General Public Utility Objects Entitled To Exemption And Depreciation Benefits Issue Whether an urban development authority carrying on activities for the advancement of an object of general public utility without a commercial motive is entitled to tax exemption under Section 11 of the Income-tax Act, 1961. Whether generic or non-project-specific grants… Read More »

Reassessment Notice Quashed as Reopening Based on Original Scrutiny Records Amounts to Mere Change of Opinion

By | August 18, 2026
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Reassessment Notice Quashed as Reopening Based on Original Scrutiny Records Amounts to Mere Change of Opinion Reassessment Notice Quashed as Reopening Based on Original Scrutiny Records Amounts to Mere Change of Opinion Issue Whether a reassessment notice under Section 148 based on Investigation Wing information can be sustained when the underlying transactions were fully disclosed… Read More »

Reassessment Notice Under Section 148 Based Solely on Third-Party Seized Broker Register Quashed

By | August 18, 2026
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Reassessment Notice Under Section 148 Based Solely on Third-Party Seized Broker Register Quashed Reassessment Notice Under Section 148 Based Solely on Third-Party Seized Broker Register Quashed Issue Whether a reassessment notice under Section 148 alleging unexplained money under Section 69A for payment of “on-money” on land purchase can be sustained when based solely on a… Read More »

Addition for House Property Fixed at Disclosed Value, FDR Addition Restricted to Investment Amount, and Telescoping Denied

By | August 18, 2026
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Addition for House Property Fixed at Disclosed Value, FDR Addition Restricted to Investment Amount, and Telescoping Denied Issue Whether the Tribunal was justified in estimating house property value at ₹85 lakhs over the disclosed ₹70 lakhs, denying telescoping benefit for unaccounted cash, and taxing FDR maturity values instead of actual investment amounts during block assessment.… Read More »

Reassessment Order Based on Mere Suspicion Without Materials Countering Assessee’s Documented Explanations Quashed

By | August 18, 2026
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Reassessment Order Based on Mere Suspicion Without Materials Countering Assessee’s Documented Explanations Quashed Issue Whether a reassessment notice under Section 148 and order under Section 148A(3) based on Suspicious Transaction Reports (STRs) can be sustained when the Assessing Officer fails to substantively deal with the assessee’s supporting documents and possesses no material indicating bogus transactions… Read More »

Depreciation Claim Allowed for Vehicle Paid For and Used by Company Despite Registration in Director’s Name

By | August 18, 2026
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Depreciation Claim Allowed for Vehicle Paid For and Used by Company Despite Registration in Director’s Name Issue Whether a company is entitled to claim depreciation under Section 32 of the Income-tax Act, 1961 on a vehicle purchased and used for its business, when the funds were paid by the company but the registration stands in… Read More »

Rule 12(4) Governing Monthly Machine Production Capacity Calculation for Cess Is Constitutionally Valid

By | August 15, 2026
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Rule 12(4) Governing Monthly Machine Production Capacity Calculation for Cess Is Constitutionally Valid Rule 12(4) Governing Monthly Machine Production Capacity Calculation for Cess Is Constitutionally Valid Issue Whether Rule 12(4) of the Health Security Se National Security Cess Rules, 2026, which computes cess based on the total monthly production capacity of all machines installed during… Read More »