Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Faceless reassessment jurisdiction under section 144B, read with CBDT directions extending faceless assessment to reassessments under section 147, permits both NaFAC and the jurisdictional Assessing Officer to conduct such proceedings. A reassessment completed by NaFAC before notification under section 151A remained valid because it was founded on the existing faceless-assessment mandate, the relevant limitation exclusion did not apply, and subsequent validation supported issuance of reassessment notices by officers other than NaFAC. However, where reassessment was completed ex parte and non-participation was attributed to longstanding mental illness, natural justice required a reasonable opportunity to submit evidence. The additions were remanded for fresh appellate adjudication after three effective opportunities.
Faceless reassessment jurisdiction under section 144B, read with CBDT directions extending faceless assessment to reassessments under section 147, permits both NaFAC and the jurisdictional Assessing Officer to conduct such proceedings. A reassessment completed by NaFAC before notification under section 151A remained valid because it was founded on the existing faceless-assessment mandate, the relevant limitation exclusion did not apply, and subsequent validation supported issuance of reassessment notices by officers other than NaFAC. However, where reassessment was completed ex parte and non-participation was attributed to longstanding mental illness, natural justice required a reasonable opportunity to submit evidence. The additions were remanded for fresh appellate adjudication after three effective opportunities.
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