Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
Show-cause notices for alleged wrongful input tax credit under section 74 must state the specific reasons for the proposed tax action; merely reproducing the statutory provision is insufficient. Relevant documents requested for defence must also be supplied so that the noticee can participate effectively in the proceedings. A foundationally defective notice cannot be cured at appellate or revisional stages. On these principles, the defective notice, consequential recovery order and bank-account attachment were quashed, with liberty to issue a fresh reasoned notice and decide the matter afresh in accordance with law.
Show-cause notices for alleged wrongful input tax credit under section 74 must state the specific reasons for the proposed tax action; merely reproducing the statutory provision is insufficient. Relevant documents requested for defence must also be supplied so that the noticee can participate effectively in the proceedings. A foundationally defective notice cannot be cured at appellate or revisional stages. On these principles, the defective notice, consequential recovery order and bank-account attachment were quashed, with liberty to issue a fresh reasoned notice and decide the matter afresh in accordance with law.
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