Supreme Court upholds validity of section 148 notices issued after 31-03-2021 under old provisions. Exercise powers under Article 142 of the Constitution of India.
Union of India v. Ashish Agarwal – [2022] 138 taxmann.com 64 (SC)
Books of account not audited at the time of filing of income-tax return is not a criteria to deny carry forward of losses.
DCIT v. Brahmos Aerospace (Thiruvananthapuram) Ltd. – [2022] 137 taxmann.com 340 (Cochin-Trib.)
Whether where a discretion is conferred upon a quasi-judicial authority whose decision has civil consequences, the word ‘may’ which denotes discretion should be construed to mean a command – Yes: HC., Whether therefore, the statute makes it mandatory for an assessee to be provided an opportunity of personal hearing in course of Faceless assessment – Yes; HC
Virasat Foundation v. Addl./Joint/Deputy/ACIT/ITO/National Faceless Assessment Centre, ITD, 2022-TIOL-622-HC-DEL-IT