Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
A CBDT-prescribed format defect in notice under section 143(2) was held to be only a technical irregularity and not, by itself, a ground to invalidate the assessment. The rejection of books under section 145(3) was found unjustified because specific reasons for such rejection were not properly established, although the cash-book discrepancies could still be examined for a separate addition under section 69A. On the cash-deposit issue, the matter was remanded for de novo assessment so the assessee could produce supporting evidence and the Assessing Officer could decide the source of deposits afresh after affording effective hearing.
A CBDT-prescribed format defect in notice under section 143(2) was held to be only a technical irregularity and not, by itself, a ground to invalidate the assessment. The rejection of books under section 145(3) was found unjustified because specific reasons for such rejection were not properly established, although the cash-book discrepancies could still be examined for a separate addition under section 69A. On the cash-deposit issue, the matter was remanded for de novo assessment so the assessee could produce supporting evidence and the Assessing Officer could decide the source of deposits afresh after affording effective hearing.
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