Delhi High Court: PCIT v. M/s Globe Capital Market Ltd. The controversy arose from the assessment proceedings for Assessment Year 2018–19, wherein the Assessing Officer invoked Section 56(2)(x) of the Income-tax Act, 1961, which taxes the receipt of property for inadequate consideration. The Assessing Officer treated the company’s buyback of its own shares at …

M/s Schwing Setter (India) Pvt. Ltd. v. Assistant Commissioner of Income Tax/Income Tax Officer The Madras High Court has set aside the reassessment proceedings initiated against an engineering equipment manufacturer after finding that the IT Deptt. reopened the assessment based on material that had already been disclosed and examined during the original assessment. Schwing …

Bombay High Court: Accost Media LLP v. DCIT The High  Court has set aside ITAT Order, holding that the tribunal failed to adjudicate a taxpayer’s jurisdictional objection alleging non-compliance with the mandatory assessment procedure. The  Court ruled that the issue went to the root of the matter and required adjudication by the Tribunal. The …

Bombay High Court: CIT v. Impact Foundation  The Court dismissed the Deptt. Appeal against Impact Foundation holding that revisionary proceedings under the IT Act could not be sustained merely because the Commissioner believed the AO should have conducted further enquiry. The Court held that where the AO has examined an issue and taken a …

Chattisgarh High Court: Maa Harsiddhi Infra Developers P. Ltd. v. ACIT The Hon’ble High Court held that the Income Tax Department cannot invoke the limited powers under Section 143(1)(a) of the Income Tax Act to disallow claims involving debatable legal issues, such as delayed deposit of employees’ contributions towards ESI and EPF under Section …

Telangana High Court: Piramal Swasthya Management and Research Institute v. Assistant Commissioner of Income Tax & Anr. The Hon’ble High Court quashed the reassessment proceedings initiated under Sections 148A(d) and 148 of the Income Tax Act, holding that the Revenue cannot reopen an issue that had already been examined and accepted during the original …

Gujarat High Court: Bhavnaben Darshanbhai Patel v. Income Tax Officer The Hon’ble High Court quashed the reassessment notices ruling that the IT Department cannot reopen completed assessments based on vague third-party documents that have no clear link to the person concerned. The case arose after search under section 132 in the cases on B …

GUJARAT HIGH COURT: Virat Alloys Private Limited v. The Assistant Commissioner of Income Tax Circle, Gandhinagar (SCA No. 5039/2024) Background: The petitioner company filed its revised return of income for the A.Y 2015-16 on 09.03.2017 declaring its income of Rs. Nil. A search was carried out in case of M/s World Window Group. It was …

DELHI HIGH COURT: Commissioner of Income Tax, International Taxation-1, New Delhi v. Clifford Chance Pte Ltd (ITA 353/2025) Background: The assessee, a Singapore-based non-resident law firm, filed NIL income returns for AYs 2020-21 and 2021-22. The AO alleged that the assessee had a service Permanent Establishment (“PE”) and a virtual service PE in India under …

KARNATAKA HIGH COURT: Sri. Kewal Chand Jain v. Assistant Commissioner of Income Tax (W.P. No. 30135/2021) Background: The petitioner challenged assessment order u/s 153C r/w Section 144 of the Income-tax Act, 1961. His residential premises were subjected to a search u/s 132, pursuant to which certain documents were seized. Despite search being conducted at his …