Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Territorial jurisdiction of the Assessing Officer must be exercised strictly in accordance with the jurisdictional directions and notifications issued under section 120, and concurrent jurisdiction arises only where specifically conferred. On the facts, the assessee's business and return particulars were at Kolkata, no Patna branch was shown, and the PAN tagging to Patna was found to be an error; the notice issued by the Patna officer was therefore without jurisdiction. The Tribunal held that the notice under section 143(2) and the consequential assessments were void, and the appeals were allowed with the assessment orders quashed.
Territorial jurisdiction of the Assessing Officer must be exercised strictly in accordance with the jurisdictional directions and notifications issued under section 120, and concurrent jurisdiction arises only where specifically conferred. On the facts, the assessee's business and return particulars were at Kolkata, no Patna branch was shown, and the PAN tagging to Patna was found to be an error; the notice issued by the Patna officer was therefore without jurisdiction. The Tribunal held that the notice under section 143(2) and the consequential assessments were void, and the appeals were allowed with the assessment orders quashed.
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