Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
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...
Section 11 of the Black Money Act required completion of assessment within two years from the end of the financial year in which notice under section 10(1) was issued, so a notice dated 10-04-2018 meant the assessment had to be completed by 31-03-2021 unless a valid exclusion applied. The exchange-of-information exclusion did not apply because the relevant FT & TR references had already been made and the information received before proceedings began. TOLA and Notification No. 113/2021 did not save the delay, as that notification extended time only for the Income-tax Act and the Benami Transactions Act. The assessment order passed on 17-02-2022 was therefore quashed as time-barred.
Section 11 of the Black Money Act required completion of assessment within two years from the end of the financial year in which notice under section 10(1) was issued, so a notice dated 10-04-2018 meant the assessment had to be completed by 31-03-2021 unless a valid exclusion applied. The exchange-of-information exclusion did not apply because the relevant FT & TR references had already been made and the information received before proceedings began. TOLA and Notification No. 113/2021 did not save the delay, as that notification extended time only for the Income-tax Act and the Benami Transactions Act. The assessment order passed on 17-02-2022 was therefore quashed as time-barred.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
