1.  Sagar Dutta Vs. Commissioner of Income Tax, I.T.A No. 150 of 2009, Date of Order: 17.02.2014, High Court of Calcutta

No penalty under section 271B by ITO exceeding Rs. 10,000 in absence of  prior approval of Joint Commissioner.

Where Income tax Officer imposed penalty under section 271B exceeding Rs. 10,000 but did not take prior approval of Joint Commissioner, matter needed fresh adjudication. In that case matter has to be remanded to the Assessing Officer for passing an order under Section 271B de novo after obtaining prior approval of the Joint Commissioner.

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2.  Spunpipe and Construction Co. Vs. Assistant Commissioner of Income Tax, Special Civil Application No. 124 of 2014, 11.03.2014, High Court of Gujarat

Assessing Officer could not initiate reassessment proceedings on basis of mere change of opinion that income in question was taxable as 'business income' where assessing officer accepted assessee's claim that income arising from sale of land was taxable as 'long-term capital gain'.

Observation:

It is precisely this ground which the Assessing Officer wishes to press in service for reopening of assessment. According to him such income should be treated as a business income and not capital gain. We fail to see how he can be permitted to do so. In the original assessment having examined the issue fully, any attempt on the part of the Assessing Officer to reopen the assessment would be nothing but a change of opinion.

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