Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
Taxation of a trust created under a Will turned on the principle of consistency: where the Department had accepted the same Will and Indenture of Declaration of Trust in a subsequent year, and there was no change in facts or law, the Revenue could not take a contrary stand for the year in issue. The Tribunal also held that its appellate powers were not confined by rectification limits and that correct tax liability could be determined on the material before it. The CIT(A)'s order was set aside and the AO was directed to apply the individual rate, subject to verification that the trust was the same trust earlier accepted, with consequential interest recomputation.
Taxation of a trust created under a Will turned on the principle of consistency: where the Department had accepted the same Will and Indenture of Declaration of Trust in a subsequent year, and there was no change in facts or law, the Revenue could not take a contrary stand for the year in issue. The Tribunal also held that its appellate powers were not confined by rectification limits and that correct tax liability could be determined on the material before it. The CIT(A)'s order was set aside and the AO was directed to apply the individual rate, subject to verification that the trust was the same trust earlier accepted, with consequential interest recomputation.
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