GST payment representations require record-based, reasoned decisions while substantive entitlement remains open for determination by competent authori...
Reassessment sanction under extended limitation required approval from the competent specified authority, invalidating proceedings approved by an inco...
Internal CUP benchmarking for fixed-rate Masala Bonds prevails over floating external comparables, eliminating the related transfer-pricing adjustment...
Jurisdictional validity of revision notices: incorrect official capacity and mere change of opinion invalidate revision of property income assessments...
Assessment-order limitation depends on when the order is made or passed within the statutory period, not on later dispatch, communication or receipt; a dated order remains timely absent material showing it was actually made later. Rental income reflected in Form 26AS cannot be added without verifying whether timing differences from straight-line lease-rental recognition have already been taxed in another year. Interest on refinancing may qualify for deduction under section 24(b) only where a direct nexus connects the original borrowing, property acquisition or construction, and subsequent loan. Tenant-wise reconciliation and refinancing fund-flow evidence require fresh verification; the limitation challenge was rejected, while the rental and interest issues were remanded.
Assessment-order limitation depends on when the order is made or passed within the statutory period, not on later dispatch, communication or receipt; a dated order remains timely absent material showing it was actually made later. Rental income reflected in Form 26AS cannot be added without verifying whether timing differences from straight-line lease-rental recognition have already been taxed in another year. Interest on refinancing may qualify for deduction under section 24(b) only where a direct nexus connects the original borrowing, property acquisition or construction, and subsequent loan. Tenant-wise reconciliation and refinancing fund-flow evidence require fresh verification; the limitation challenge was rejected, while the rental and interest issues were remanded.
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