1.   Desh Raj Vs CIT-Section 147,148 and 143(1) of the Act.

In this case it has been held that if a return is accepted under section 143(1) of the Act then there is no bar on the powers of the AO to reopen the assessment under section 147 read with 148 and in this type of case there is no question of any change of opinion. AO can reopen the assessment on the existing material. Another proposition which is reiterated in this case is that principles of res-judicata are not applicable to the income Tax proceedings.

(Click here for judgment)  

   

2.   Ema India Ltd Vs CIT- Section 147, 148 and 143(3) of the Act.

In this case their lordship of Allahabad high Court has discussed the case law of Kelvinator and held that law enunciated in Kelvinator is not a good law and the law of Supreme Court in the Kalyanji Mavji reported in 102 ITR 286 is as good as it was. In that case it has been held that AO can reopen the assessment on the basis of existing material also if he has overlooked some thing in the regular assessment proceedings.

(Click here for judgment)  

   

3.   CIT Vs S.K.Gupta and Company-271-A and 271-B of I.T. Act.

In this case it has been held that no penalty is leviable if the books of accounts are not maintained per-se. In other words it is held that provisions of section 271B comes into play only when there are some books.

(Click here for judgment) 

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