PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
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Revision under section 263 of issues unrelated to a reassessment is subject to limitation from the original assessment order, not the reassessment order. Where reassessment was confined to alleged bogus purchases, expenditure on gifts to doctors, disallowance under section 14A, and deduction for CSR expenditure under section 80G remained matters examined in the original scrutiny assessment. Audit objections did not permit expansion of reassessment or circumvention of the statutory time limit through revision. The article notes that Supreme Court decisions in Alagendran Finance Ltd. and Industrial Development Bank of India Ltd. prevail over a contrary Tribunal view. Accordingly, the revisionary order was time-barred, quashed, and the assessee's appeal allowed.
Revision under section 263 of issues unrelated to a reassessment is subject to limitation from the original assessment order, not the reassessment order. Where reassessment was confined to alleged bogus purchases, expenditure on gifts to doctors, disallowance under section 14A, and deduction for CSR expenditure under section 80G remained matters examined in the original scrutiny assessment. Audit objections did not permit expansion of reassessment or circumvention of the statutory time limit through revision. The article notes that Supreme Court decisions in Alagendran Finance Ltd. and Industrial Development Bank of India Ltd. prevail over a contrary Tribunal view. Accordingly, the revisionary order was time-barred, quashed, and the assessee's appeal allowed.
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