Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
Toy balloon tariff classification: functional heading prevails over residual rubber and festive article headings, supporting penalties for deliberate ...
Customs valuation using comparable contemporaneous imports can displace declared value, while missing speaking orders require pursuit before competent...
Site restoration expenditure was held deductible, as the Court noted that the connected appeals had already upheld the assessee's claim under Section 37(1); once that position was accepted, the Revenue's challenge to the Tribunal's view on book profit treatment also failed. The reassessment for AY 1999-2000 was also sustained as invalid: it had been initiated after four years, the assessee was not supplied the recorded reasons, no notice under Section 143(2) was served, and the Department failed to justify reopening beyond limitation before the appellate authorities.
Site restoration expenditure was held deductible, as the Court noted that the connected appeals had already upheld the assessee's claim under Section 37(1); once that position was accepted, the Revenue's challenge to the Tribunal's view on book profit treatment also failed. The reassessment for AY 1999-2000 was also sustained as invalid: it had been initiated after four years, the assessee was not supplied the recorded reasons, no notice under Section 143(2) was served, and the Department failed to justify reopening beyond limitation before the appellate authorities.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
Join Channel 
