Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Page of 4778
Press 'Enter' after typing page number.
81 to 100 of 95557 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Reassessment initiated after three years from the end of the relevant assessment year required approval from the authority specified in section 151(ii). The Finance Act 2023 proviso to section 151, effective from 1 April 2023, operated prospectively and could not be treated as retrospective merely as a clarification. Extensions or exclusions under section 149 could not be imported into section 151 to extend the three-year period. As sanction under section 151 is a jurisdictional condition precedent, approval by the Principal Commissioner instead of the specified competent authority rendered the notice, order under section 148A(d), and consequential reassessment proceedings void ab initio and liable to be quashed.
Reassessment initiated after three years from the end of the relevant assessment year required approval from the authority specified in section 151(ii). The Finance Act 2023 proviso to section 151, effective from 1 April 2023, operated prospectively and could not be treated as retrospective merely as a clarification. Extensions or exclusions under section 149 could not be imported into section 151 to extend the three-year period. As sanction under section 151 is a jurisdictional condition precedent, approval by the Principal Commissioner instead of the specified competent authority rendered the notice, order under section 148A(d), and consequential reassessment proceedings void ab initio and liable to be quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4778
Join Channel
TaxTMI 
