Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
For reassessment notices issued more than three years after the end of the relevant assessment year, section 151(ii) requires approval from the statutorily specified authority rather than the Principal Commissioner. The notes state that the later proviso to section 151, effective from 1 April 2023 and allowing exclusion of time permitted for a reply under section 148A(b), operates prospectively and does not validate an earlier notice. Approval by an incompetent authority is a jurisdictional defect, not a defect in form, authentication or communication curable under section 292BC. On that basis, the reassessment for AY 2018-19 was quashed, with other contentions left open.
For reassessment notices issued more than three years after the end of the relevant assessment year, section 151(ii) requires approval from the statutorily specified authority rather than the Principal Commissioner. The notes state that the later proviso to section 151, effective from 1 April 2023 and allowing exclusion of time permitted for a reply under section 148A(b), operates prospectively and does not validate an earlier notice. Approval by an incompetent authority is a jurisdictional defect, not a defect in form, authentication or communication curable under section 292BC. On that basis, the reassessment for AY 2018-19 was quashed, with other contentions left open.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4784
Join Channel
TaxTMI 
