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...
Cash-credit additions for unexplained deposits require a comprehensive examination of the taxpayer's cash-collection business model, debtor-recovery cycle, and supporting records, including debtor ledgers, subscription records, cash books and bank statements. Where such evidence has not been fully considered, the addition requires fresh adjudication after reasonable hearing, without deciding the merits or the validity of book rejection. Interest for advance-tax default is consequential to the assessment. Penalty proceedings for unexplained or under-reported income remain separate from quantum proceedings, making a challenge to their initiation premature.
Cash-credit additions for unexplained deposits require a comprehensive examination of the taxpayer's cash-collection business model, debtor-recovery cycle, and supporting records, including debtor ledgers, subscription records, cash books and bank statements. Where such evidence has not been fully considered, the addition requires fresh adjudication after reasonable hearing, without deciding the merits or the validity of book rejection. Interest for advance-tax default is consequential to the assessment. Penalty proceedings for unexplained or under-reported income remain separate from quantum proceedings, making a challenge to their initiation premature.
Note: It is a system-generated summary and is for quick reference only.
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