Direct Tax Weekly Flashback from 23 to 29 March 2025.

Supreme Court 

Income Tax Demands After Resolution Plan Approval Is Invalid: Supreme Court

The Supreme Court has declared the income tax demands raised after the approval of resolution plan (RP) by the National Company Law Tribunal (NCLT) is invalid.

Bombay High Court 

AI Can’t Override Natural Justice; CPC Portal Must Reflect Thoughtful Consideration: Bombay High Court

The Bombay High Court has held that Artificial Intelligence (AI) cannot override natural justice, and the Centralized Processing Centre (CPC) portal must reflect thoughtful consideration.

Rajasthan High Court

E-Assessment | JAO Lacks Jurisdiction To Issue Income Tax Reassessment Notices: Rajasthan High Court

The Rajasthan High Court has held that the Jurisdictional Assessing Officer (JAO) lacks jurisdiction to issue income tax reassessment notices under section 148 of the Income Tax Act.

Gujarat High Court 

Gujarat High Court Imposes Rs. 1 Crore Cost On AO For High Pitched Assessment Against Amalgamated Entity

The Gujarat High Court has imposed the cost of Rs. 1 Crores on the Assessing Officer (AO) for high pitched assessment.

ITAT

Step-Siblings Are Relatives, Gift Not Taxable Under Section 56(2) of Income Tax Act: ITAT

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the step-siblings are relatives and the gift is not taxable under Section 56(2) of Income Tax Act.

Redevelopment Flat Value Not To Be Taxed U/s 56(2)(X) Of Income Tax Act: ITAT

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has ruled that redevelopment flat value is not taxable as income from other sources under section 56(2)(X) Of Income Tax Act, 1961.