Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Reassessment based only on information from the Investigation Wing and a third-party statement was found unsustainable where the Assessing Officer had no independent tangible material to form his own belief of escapement. The Tribunal held that mere reliance on borrowed satisfaction and post facto notices to alleged suppliers did not justify reopening under sections 147 and 148. It also held that an addition for alleged bogus purchases could not be made under section 68 when the purchases and corresponding sales were already recorded in the books, as that would amount to double addition. Both appeals were allowed and the section 68 addition was deleted.
Reassessment based only on information from the Investigation Wing and a third-party statement was found unsustainable where the Assessing Officer had no independent tangible material to form his own belief of escapement. The Tribunal held that mere reliance on borrowed satisfaction and post facto notices to alleged suppliers did not justify reopening under sections 147 and 148. It also held that an addition for alleged bogus purchases could not be made under section 68 when the purchases and corresponding sales were already recorded in the books, as that would amount to double addition. Both appeals were allowed and the section 68 addition was deleted.
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