Foundational assessment satisfaction is essential before initiating penalty for cash receipt of immovable-property sale consideration under section 27...
Tax collection at source on purchases removes duplicate withholding obligation, while trade-creditor evidence requires verification before unexplained...
Transfer-pricing comparability requires material turnover effects; adjustments must cover only associated-enterprise transactions and exclude abnormal...
Assessment issued in the name of an amalgamating company that had ceased to exist, after the Revenue had been informed of the amalgamation, constitutes a jurisdictional defect rather than a procedural irregularity. Section 292B does not cure this defect, and participation in assessment proceedings does not create an estoppel against law. The assessment was quashed as void ab initio on the additional jurisdictional ground, while the remaining merits grounds were left open as academic.
Assessment issued in the name of an amalgamating company that had ceased to exist, after the Revenue had been informed of the amalgamation, constitutes a jurisdictional defect rather than a procedural irregularity. Section 292B does not cure this defect, and participation in assessment proceedings does not create an estoppel against law. The assessment was quashed as void ab initio on the additional jurisdictional ground, while the remaining merits grounds were left open as academic.
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