Weekly DT Digest

HC: Quashes assessment u/s 153C absent proper satisfaction note by AO of searched-person

Karnataka HC quashes assessment u/s 153C absent proper satisfaction note prepared by AO of searched person; HC notes that for

Feb 15,2019

HC: Upholds reopening beyond 4 years; Additional material indicates lack of true disclosure

Bombay HC upholds reopening of assessment beyond 4 years to make unexplained cash credit addition, observes that merely

Feb 15,2019

HC: Quashes ITAT's reliance on Court judgment holding 'no substantial question of law arises'

Karanataka HC sets aside Tribunal order, holds Tribunal committed grave error by placing reliance on the judgment in

Feb 14,2019

HC: AO to apply his discretion for deciding stay application and water-down pre-deposit condition

Delhi HC holds that AO has to apply its mind and decide the Stay Application on merits without

Feb 08,2019

HC: Quashes reassessment notice u/s 147 issued on last day of time-limit expiry

Bombay HC quashes notice u/s 147 issued on assessee-company (engaged in manufacturing and processing of frozen meat) for

Feb 08,2019

ITAT: CIT(A) cannot enhance income on 'new source' not considered in assessment proceedings

Delhi ITAT deletes addition u/s 68 made on individual-assessee during AY 2014-15, rules that when the matter in

Feb 08,2019

ITAT: Allows Sec.54 exemption for amount invested towards construction before sale of house-property

Delhi ITAT allows assessee's claim of exemption  u/s 54 towards investment made in under-construction property before the sale

Feb 08,2019

ITAT: Sec.43B not applicable to contribution to Environment Relief Fund since assessee-insurer acted as collecting agent

Pune ITAT deletes disallowance made by the AO for contribution by the assessee (Insurance company) to Environment Relief

Feb 08,2019

HC: Quashes re-assessment notice; No 'live-link' between investigation wing data and income escapement

Bombay HC allows assessee's (an asset reconstruction and securitization company) writ for AY 2011-12 and sets aside notice

Feb 07,2019

SC: Mandates assessee to comply with 'PAN-Aadhaar linking' requirement for return filing

SC mandates assessee to file return of income for AY 2019-20 after complying with Sec. 139AA requirement (i.e.

Feb 07,2019