Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Non-consideration of the assessee's replies before issuing a reassessment notice can vitiate the order where the statute requires those explanations to be examined before forming a view on escaped income. The text notes that the impugned order dealt only partially with the materials filed and did not analyse the commercial rationale or the specific explanations offered, so the formation of belief lacked a sustainable basis. The order and consequential notice were quashed, and the matter was remitted for fresh consideration after granting an opportunity of hearing and passing a reasoned order.
Non-consideration of the assessee's replies before issuing a reassessment notice can vitiate the order where the statute requires those explanations to be examined before forming a view on escaped income. The text notes that the impugned order dealt only partially with the materials filed and did not analyse the commercial rationale or the specific explanations offered, so the formation of belief lacked a sustainable basis. The order and consequential notice were quashed, and the matter was remitted for fresh consideration after granting an opportunity of hearing and passing a reasoned order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
