Adverse judgments should be contested on merits irrespective of tax effect, including constitutional challenges and undisclosed foreign assets. Para 10 is amended to mandate that adverse judgments in specified categories be contested on merits notwithstanding that the tax effect is below prescribed monetary limits or there is no tax effect. The specified categories are constitutional validity challenges; findings that Board orders/notifications/instructions/circulars are illegal or ultra vires; accepted Revenue Audit objections; additions for undisclosed foreign income/assets/bank accounts; additions based on information from external law enforcement/intelligence agencies; and cases where prosecution is pending.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Adverse judgments should be contested on merits irrespective of tax effect, including constitutional challenges and undisclosed foreign assets.
Para 10 is amended to mandate that adverse judgments in specified categories be contested on merits notwithstanding that the tax effect is below prescribed monetary limits or there is no tax effect. The specified categories are constitutional validity challenges; findings that Board orders/notifications/instructions/circulars are illegal or ultra vires; accepted Revenue Audit objections; additions for undisclosed foreign income/assets/bank accounts; additions based on information from external law enforcement/intelligence agencies; and cases where prosecution is pending.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
