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 defect rendered the assessment invalid where the assessee's case remained with the Mumbai Assessing Officer and no transfer order for the relevant year was shown. The Tribunal noted that the assessee had been assessed by Mumbai in the preceding and succeeding years, and that the Delhi Assessing Officer therefore lacked authority to frame the order. It further held that the bar on belated objections to jurisdiction did not cure an inherent lack of jurisdiction, so the impugned orders were set aside and the other grounds were left academic.
Territorial jurisdiction defect rendered the assessment invalid where the assessee's case remained with the Mumbai Assessing Officer and no transfer order for the relevant year was shown. The Tribunal noted that the assessee had been assessed by Mumbai in the preceding and succeeding years, and that the Delhi Assessing Officer therefore lacked authority to frame the order. It further held that the bar on belated objections to jurisdiction did not cure an inherent lack of jurisdiction, so the impugned orders were set aside and the other grounds were left academic.
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