Section 148A – Notice issued in SLP against HC order that reassessment proceedings initiated with notice u/s 148 (deemed notice u/s 148A) issued between 1-4-2021 and 30-6-2021, could not be conducted by giving benefit of relaxation under ‘Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 upto 30-3-2021, and time limit prescribed u/s 149(1)(b) [as substituted w.e.f. 1-4-2021] could not be counted by giving such relaxation from 30-3-2020 onwards to revenue.
UOI v. Rajeev Bansal – [2023] 150 taxmann.com 206 (SC).
Affidavits of Typist and CA admitting typographical error are not enough to delete addition for unaccounted purchases.
ACIT v. Kantilal Exports Surat – [2023] 150 taxmann.com 172 (SC).
CSR expenses incurred not under obligation to spend amount in accordance with Companies Act allowable u/s 37(1).
Adani Power Rajasthan Ltd. v. ACIT – [2023] 150 taxmann.com 136 (Gujarat).
Section 153C – Where no incriminating material was found either from assessee or from third party and assessment was u/s 153C, HC rightly set aside assessment order.
DCIT v. U.K. Paints (Overseas) Ltd. – [2023] 150 taxmann.com 108 (SC).
Section 28(i) – Where assessee, a builder and developer, under an agreement had sold its development rights in a property and HC by order held that Tribunal rightly concluded that impugned transaction related to assessee’s business was assessable as business income, however, Tribunal had not considered relevant factors like frequency of trade, volume of trade and nature of transactions over the years etc. while holding such income as business income, matter was to be remanded back to Tribunal for fresh consideration.
CIT v. Glowshine Builders & Developers (P.) Ltd. – [2023] 150 taxmann.com 111 (SC).
Section 56 – In case of transfer of shares on amalgamation to which section 56(2)(viia) applies, that being more specific, the general provisions exempting such income under section 47(vi) shall not be applicable. Even otherwise, clause (vi) of section 47 is not excluded from the purview of section 56.
ACIT v. Vertex Projects LLP – [2023] 150 taxmann.com 109 (Hyderabad – Trib.].