Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Revision under section 263 requires the assessment order to be both erroneous and prejudicial to the interests of the Revenue. The distinction between lack of inquiry and inadequate inquiry is material: where the Assessing Officer has examined relevant expenses, related-party payments, GST-exempt services, financial records, returns, GST details, TDS particulars and supplier-level material, revision cannot be based merely on a view that further verification was desirable. The revisional authority must identify an actual error from the assessment record and demonstrate resulting prejudice; it cannot order a fresh investigation without establishing both statutory conditions. The stated result was quashing of the revisionary order and allowance of the assessee's appeal.
Revision under section 263 requires the assessment order to be both erroneous and prejudicial to the interests of the Revenue. The distinction between lack of inquiry and inadequate inquiry is material: where the Assessing Officer has examined relevant expenses, related-party payments, GST-exempt services, financial records, returns, GST details, TDS particulars and supplier-level material, revision cannot be based merely on a view that further verification was desirable. The revisional authority must identify an actual error from the assessment record and demonstrate resulting prejudice; it cannot order a fresh investigation without establishing both statutory conditions. The stated result was quashing of the revisionary order and allowance of the assessee's appeal.
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