Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Reassessment jurisdiction cannot rest on unverified, factually...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Reassessment jurisdiction cannot rest on unverified, factually incorrect information or disregard the taxpayer's specific explanation. Aggregating distinct information-portal entries as escaped income, when only one entry was relevant, showed non-application of mind; the eventual addition also did not match the aggregated amount or one entry. Reopening on that premise was invalid because the Assessing Officer failed to verify the information before assuming jurisdiction and did not address the objection. The reassessment order was quashed and the appeal allowed.
Reassessment jurisdiction cannot rest on unverified, factually incorrect information or disregard the taxpayer's specific explanation. Aggregating distinct information-portal entries as escaped income, when only one entry was relevant, showed non-application of mind; the eventual addition also did not match the aggregated amount or one entry. Reopening on that premise was invalid because the Assessing Officer failed to verify the information before assuming jurisdiction and did not address the objection. The reassessment order was quashed and the appeal allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
