Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
Reassessment beyond four years was invalid where the original scrutiny had specifically examined disallowance of expenditure relating to exempt income and the assessee had provided relevant particulars. The revenue neither alleged failure to disclose fully and truly all material facts nor identified tangible material obtained after the original assessment showing income had escaped assessment. Reopening on re-examination of the same assessment record constituted a change of opinion. The High Court quashed the reassessment notice and consequential orders.
Reassessment beyond four years was invalid where the original scrutiny had specifically examined disallowance of expenditure relating to exempt income and the assessee had provided relevant particulars. The revenue neither alleged failure to disclose fully and truly all material facts nor identified tangible material obtained after the original assessment showing income had escaped assessment. Reopening on re-examination of the same assessment record constituted a change of opinion. The High Court quashed the reassessment notice and consequential orders.
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