Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
Personal hearing requirements in GST adjudication were satisfied by prior opportunities and written submissions; appellate limitation received writ-pe...
Reassessment proceedings initiated by a notice under section 148 treat the return filed in response as a return under section 139. A notice under section 143(2) is required only where the Assessing Officer considers verification necessary or expedient; its absence does not by itself invalidate reassessment, particularly where the taxpayer participated in the proceedings and section 292BB applies. Additions made during reassessment must retain a direct nexus with the recorded reasons for reopening. Where a claimed business loss is set off against unreported non-compete income forming the basis for reopening, examination of that loss is connected to the recorded reasons; the substantive justification remains examinable in statutory appeal.
Reassessment proceedings initiated by a notice under section 148 treat the return filed in response as a return under section 139. A notice under section 143(2) is required only where the Assessing Officer considers verification necessary or expedient; its absence does not by itself invalidate reassessment, particularly where the taxpayer participated in the proceedings and section 292BB applies. Additions made during reassessment must retain a direct nexus with the recorded reasons for reopening. Where a claimed business loss is set off against unreported non-compete income forming the basis for reopening, examination of that loss is connected to the recorded reasons; the substantive justification remains examinable in statutory appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
