Working capital adjustment, comparable selection and trade receivables interest were revisited in transfer pricing, with key additions deleted and rem...
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A return filed in response to notice under section 148 was treated as a return under section 139, and if it was defective for want of e-verification, the Assessing Officer had to intimate the defect and allow cure under section 139(9). Once the Assessing Officer acted on that return, issuance of notice under section 143(2) became mandatory before framing reassessment. As no such notice was shown, the Tribunal held the reassessment bad in law and void ab initio, following earlier Delhi High Court decisions.
A return filed in response to notice under section 148 was treated as a return under section 139, and if it was defective for want of e-verification, the Assessing Officer had to intimate the defect and allow cure under section 139(9). Once the Assessing Officer acted on that return, issuance of notice under section 143(2) became mandatory before framing reassessment. As no such notice was shown, the Tribunal held the reassessment bad in law and void ab initio, following earlier Delhi High Court decisions.
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