Reassessment Initiated on Misconceived Audit Objections Without Tangible Material Quashed Issue Whether reopening an assessment under Section 148 based on an audit objection alleging an inadmissible TDS deduction under Section 43B is valid when all material was available during original scrutiny and no fresh tangible material exists. Facts The assessee filed its return for Assessment… Read More »
Cooperative Society Is Entitled to Section 80P(2)(d) Deduction on Interest Earned from Cooperative Banks Issue Whether a cooperative society is entitled to claim deduction under Section 80P(2)(d) on interest income earned from investments with cooperative banks, notwithstanding the provisions of Section 80P(4). Facts Deduction Claimed: For Assessment Year 2017-18, the assessee, a cooperative society, claimed… Read More »
Reopening Notice Issued by Non-Jurisdictional Assessing Officer After Section 127 Transfer Order Is Void and Quashed Issue Whether a reassessment notice issued under Section 148 of the Income-tax Act, 1961 by an Assessing Officer who lost territorial jurisdiction due to a prior transfer order under Section 127 is legally valid or liable to be quashed.… Read More »
Assessee Is Entitled to Interest on Refund Under Section 244A(1)(b) Despite Subsequent Section 244A(1B) Insertion Assessee Is Entitled to Interest on Refund Under Section 244A(1)(b) Despite Subsequent Section 244A(1B) Insertion Issue Whether an assessee who paid TDS demand under protest and successfully challenged the order is entitled to interest on refund under Section 244A(1)(b), and… Read More »
Reassessment Notice Issued to a Deceased Person and Solely Based on a Co-Owner’s DVO Report Is Void Issue Whether reassessment notices issued under Section 148 in the name of a deceased person, relying solely on a DVO report obtained in a co-owner’s case, are legally valid under Sections 159, 149, and 55A of the Income-tax… Read More »
Establishing Ownership Alone Does Not Warrant Seizure Release Pending Possession Assessment, But Third Parties Can Apply Under Section 132B Issue Whether cash seized during a search on an Angadiya firm can be released under Section 132B to a third-party owner before completion of the Angadiya firm’s assessment, and whether a third-party claimant qualifies as a… Read More »
Reassessment Notice Issued to Amalgamating Company Is Void Once Same Income Is Taxed in Amalgamated Company’s Hands Reassessment Notice Issued to Amalgamating Company Is Void Once Same Income Is Taxed in Amalgamated Company’s Hands Issue Whether reassessment proceedings initiated under Section 148 against a non-existent amalgamating company can survive when the exact same subject matter… Read More »
Reassessment Initiated on Surmises and Conjectures Regarding Cessation of Liability Is Legally Impermissible Issue Whether reassessment proceedings under Section 148 read with Section 148A can be validly initiated based on vague assumptions and conjectures that an assessee “might have claimed” deduction of interest liability which subsequently ceased to exist. Facts The petitioner-company underwent Corporate Insolvency… Read More »
Retrospective GST Cancellation and Revocation Rejection Quashed for Natural Justice Violation and Jurisdictional Overreach Retrospective GST Cancellation and Revocation Rejection Quashed for Natural Justice Violation and Jurisdictional Overreach Issue Whether a retrospective cancellation of GST registration without considering a written request for time to submit supporting documents violates principles of natural justice. Whether revocation proceedings… Read More »
Unclaimed Pre-Approval Income Tax Demands Extinguish Upon NCLT Approval of Resolution Plan Under IBC Issue Whether income tax demand notices issued under Section 156 in respect of claims not included in an NCLT-approved resolution plan under the Insolvency and Bankruptcy Code, 2016 are sustainable in law. Facts Resolution Plan Approval: The petitioner’s resolution plan was… Read More »