Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
A return filed in response to a section 148 notice does not lose its character merely because it was submitted after the time stated in that notice, if it was filed during the pendency of reassessment proceedings. Once such a return is on record, the Assessing Officer must treat it as a return for assessment purposes and issue notice under section 143(2) before proceeding further; failure to do so vitiates jurisdiction. The Tribunal also held that the third proviso to section 148, introduced by the Finance Act 2023 with effect from 1 April 2023, did not apply. The reassessment was therefore quashed.
A return filed in response to a section 148 notice does not lose its character merely because it was submitted after the time stated in that notice, if it was filed during the pendency of reassessment proceedings. Once such a return is on record, the Assessing Officer must treat it as a return for assessment purposes and issue notice under section 143(2) before proceeding further; failure to do so vitiates jurisdiction. The Tribunal also held that the third proviso to section 148, introduced by the Finance Act 2023 with effect from 1 April 2023, did not apply. The reassessment was therefore quashed.
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