Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Revision under section 263 was upheld because the reassessment order suffered from a complete lack of inquiry on the purchase-side taxability of the difference between immovable property consideration and stamp duty value. The Tribunal noted that the Assessing Officer examined the sale-side valuation issue but failed to consider the applicable provision for the purchase transaction, instead referring to section 56(2)(x), which was not relevant to the assessment year. This non-application of mind on a material issue made the order erroneous and prejudicial to the interests of the Revenue. As the Principal Commissioner only set aside the matter for fresh verification after granting the assessee an opportunity, the revisionary jurisdiction was valid.
Revision under section 263 was upheld because the reassessment order suffered from a complete lack of inquiry on the purchase-side taxability of the difference between immovable property consideration and stamp duty value. The Tribunal noted that the Assessing Officer examined the sale-side valuation issue but failed to consider the applicable provision for the purchase transaction, instead referring to section 56(2)(x), which was not relevant to the assessment year. This non-application of mind on a material issue made the order erroneous and prejudicial to the interests of the Revenue. As the Principal Commissioner only set aside the matter for fresh verification after granting the assessee an opportunity, the revisionary jurisdiction was valid.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
