Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
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Reassessment notices issued more than three years after the relevant assessment year require approval under section 151(ii) from the specified senior authorities; approval by a Principal Commissioner is described as incompetent. The notes state that a later proviso to section 151 cannot retrospectively exclude the reply period under section 148A(b), resulting in invalidation of the reassessment notice and consequential reassessment for the stated year. They further address section 80P deduction: after condonation of delayed return filing, the deduction claim, including interest earned from a co-operative bank, is to be reconsidered by the Assessing Officer, with interest income directed to be allowed if earned from that bank.
Reassessment notices issued more than three years after the relevant assessment year require approval under section 151(ii) from the specified senior authorities; approval by a Principal Commissioner is described as incompetent. The notes state that a later proviso to section 151 cannot retrospectively exclude the reply period under section 148A(b), resulting in invalidation of the reassessment notice and consequential reassessment for the stated year. They further address section 80P deduction: after condonation of delayed return filing, the deduction claim, including interest earned from a co-operative bank, is to be reconsidered by the Assessing Officer, with interest income directed to be allowed if earned from that bank.
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