Post-search scrutiny assessment remains available where original assessment limitation is unexpired, permitting timely completion under regular assess...
Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
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Reassessment of an approved educational trust is unwarranted where, even after proposed disallowances, income applied to its objects remains above the 85% exemption threshold and no taxable income escapes assessment. The proviso to section 10(23C)(vi) permits accumulation of up to 15% of income, while section 152(2) permits reassessment proceedings to be dropped if the alleged escaped income does not reduce the assessed tax liability. Reopening and consequential reassessment were quashed. Revisionary power under section 264 may also modify, revoke or set aside an assessment made contrary to an interim court order, provided the resulting order is not prejudicial to the assessee; administrative system limitations do not excuse failure to remedy the breach.
Reassessment of an approved educational trust is unwarranted where, even after proposed disallowances, income applied to its objects remains above the 85% exemption threshold and no taxable income escapes assessment. The proviso to section 10(23C)(vi) permits accumulation of up to 15% of income, while section 152(2) permits reassessment proceedings to be dropped if the alleged escaped income does not reduce the assessed tax liability. Reopening and consequential reassessment were quashed. Revisionary power under section 264 may also modify, revoke or set aside an assessment made contrary to an interim court order, provided the resulting order is not prejudicial to the assessee; administrative system limitations do not excuse failure to remedy the breach.
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