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Reassessment Notices for AY 2015–16 Issued After 01.04.2021 Are Time-Barred; TOLA Inapplicable – Following Rajeev Bansal – Banyan Capital Advisors LLP vs. ITO (Delhi High Court)
Facts of the
CaseThe petitioner,
Banyan Capital Advisors LLP, filed a writ petition challenging the original
notice dated 30.06.2021 issued under Section 148, the subsequent order dated
30.06.2022 passed under Sectio...
Reassessment Proceedings Quashed for Review of Section 148A(d) Order and Limitation Breach: AO Has No Power of Review – Baba Global Ltd. vs. ACIT (Delhi High Court)
Facts of the
CaseThe petitioner,
Baba Global Ltd., filed a writ petition challenging the notice dated 31.03.2023
issued under Section 148A(b) of the Income-tax Act, 1961, a corrigendum dated
28.04.2023, the order dat...
Section 148 and 148A Proceedings Set Aside and Matter Remanded for Fresh Consideration in Light of Rajeev Bansal: B.C. Enterprises vs. ITO, Ward-58(3) (Delhi HC)
Facts of the
CaseThe petitioner,
B.C. Enterprises, filed a writ petition challenging reassessment proceedings
initiated for Assessment Year 2014-15. The petitioner assailed the initial
notice dated 07.06.2021 issued ...
Section 148 Notice Quashed as Time-Barred Where Ten-Year Block under Section 153A Excluded AY 2014-15: Aryan Residency Ltd. vs. ACIT, Central Circle-16 (Delhi HC)
Facts of the
CaseThe petitioner,
Aryan Residency Limited, challenged a notice dated 12.03.2025 issued under
Section 148 of the Income-tax Act for Assessment Year 2014-15. The impugned
proceedings were initiated pursu...
Criminal Prosecution under Sections 276C, 276D and 277 Quashed Where Assessment Based on Unauthenticated DTAA Information Was Set Aside: Anurag Dalmia vs. Income Tax Office (Delhi HC)
Facts of the
CaseThe petitioner,
Anurag Dalmia, filed his income tax returns for Assessment Years 2006-07 and
2007-08 declaring his income, which were accepted under Section 143(1) and
refunds were issued. In 2011, t...
Remand Proceedings Held Time-Barred for Failure to Pass Fresh Assessment within Limitation; Refund with Interest Directed: Acuity KP Solutions (India) Pvt. Ltd. vs. DCIT (Delhi HC)
Facts of the
CaseThe petitioner,
Acuity KP Solutions (India) Private Limited, filed its return of income for
Assessment Year 2007-08 declaring Nil income and claimed a refund of
₹67,86,402. The return was selected ...
Whether difference between turnover reflected in CBEC / Service Tax data and turnover recorded in the books of account can, by itself, justify an addition for under-reported revenue without independent enquiry by the Assessing Officer, Deepsons (India) Pvt. Ltd. vs Assistant Commissioner of Income Tax, Circle 7(1), Delhi
Brief Facts:The assessee filed return declaring total income of ₹1,02,48,020.The case was selected for scrutiny and assessment was completed by making an addition of ₹4,21,34,712 alleging under-reporting of revenue, ...
Denial of Deduction u/s 54B – Investment in Agricultural Land in Wife’s Name, Adel Saini vs. Income Tax Officer, Ward-1(1), Faridabad
Issue Involved:-Whether deduction under section 54B of the Income-tax Act, 1961 can be allowed when the sale consideration of agricultural land is invested in new agricultural land purchased in the name of the assesseeâ€...
Revision u/s 263 – Taxability of Interest on Enhanced Compensation u/s 28 of the Land Acquisition Act, 1894, ITAT Delhi-Shri Jagpal v. Principal Commissioner of Income Tax, Faridabad
Core Issue:-Whether interest received on enhanced compensation for compulsory acquisition of agricultural land under section 28 of the Land Acquisition Act, 1894 is:exempt under section 10(37) of the Income-tax Act, 1961...
Capital Gains versus Business Income: Substance of Holding, Intention and Conduct Prevail over Revenue Assumptions- Correct head of income - profit earned by the assessee on sale of land - ‘capital gains’ or ‘business profits’ - Circular No.4/2007 dated 15.06.2007 -a distinction between a "capital asset" and a "trading asset"
An Analytical Analysis on the Judgment of the- Madras High Court- Commissioner of Income Tax, Chennai v. GWL Properties Ltd. (formerly Gordon Woodroffe Ltd.)-TCA No. 288 of 2011 | Decision dated 9 January 2026The long-st...