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...
Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
Page of 4794
Press 'Enter' after typing page number.
41 to 60 of 95875 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Revision under section 263 cannot rest merely on a view that the...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is established.
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
Revision under section 263 cannot rest merely on a view that the Assessing Officer should have conducted a deeper inquiry into share capital received from an existing non-resident shareholder. Where the assessment record shows detailed queries and supporting material on the investor's identity, creditworthiness, remittance and transaction, an assessment order need not expressly record every inquiry to establish application of mind. Revisionary jurisdiction does not permit re-examination where the Assessing Officer adopted a permissible view after inquiry. The revisionary authority must undertake at least minimal independent inquiry and clearly establish that the assessment is both erroneous and prejudicial to Revenue; it cannot remand genuineness for fresh determination.
Revision under section 263 cannot rest merely on a view that the Assessing Officer should have conducted a deeper inquiry into share capital received from an existing non-resident shareholder. Where the assessment record shows detailed queries and supporting material on the investor's identity, creditworthiness, remittance and transaction, an assessment order need not expressly record every inquiry to establish application of mind. Revisionary jurisdiction does not permit re-examination where the Assessing Officer adopted a permissible view after inquiry. The revisionary authority must undertake at least minimal independent inquiry and clearly establish that the assessment is both erroneous and prejudicial to Revenue; it cannot remand genuineness for fresh determination.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
