Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
Co-terminus appellate powers permit a first appellate authority to remit a matter for fresh factual verification where the assessment was made ex parte and substantial documentary evidence, including ledger accounts, invoices, gate passes, weighment slips, financial statements, audit report and bank statements, requires examination. The Tribunal upheld the remand for denovo adjudication because proper verification of the sales transactions was necessary and no prejudice to the Revenue was shown. It also held that notice under section 143(2) is a mandatory precondition for a valid reassessment after a return is filed in response to section 148, and that section 292BB cannot cure a complete absence of such notice. The reassessment was therefore void and the addition was deleted.
Co-terminus appellate powers permit a first appellate authority to remit a matter for fresh factual verification where the assessment was made ex parte and substantial documentary evidence, including ledger accounts, invoices, gate passes, weighment slips, financial statements, audit report and bank statements, requires examination. The Tribunal upheld the remand for denovo adjudication because proper verification of the sales transactions was necessary and no prejudice to the Revenue was shown. It also held that notice under section 143(2) is a mandatory precondition for a valid reassessment after a return is filed in response to section 148, and that section 292BB cannot cure a complete absence of such notice. The reassessment was therefore void and the addition was deleted.
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