Residual food-preparation classification places fermented Nata De Coco outside fruit-jelly categories, changing its GST treatment across notified peri...
Settlement application eligibility requires a pending assessment when filed, preventing an extra prior-eligibility condition from blocking considerati...
Valid information for reassessment must point to income that escaped tax, not receipts disclosed, accounted for and taxed by the resulting company following a corporate demerger. Transactions appearing under the demerged entity's PAN because tax was deducted in its name before demerger sanction do not, without more, establish escapement. The extended reassessment period applies only where books, documents or evidence reveal previously undisclosed income meeting the prescribed threshold; material requiring only correlation of already disclosed transactions is insufficient. On these grounds, reassessment for the relevant assessment year was set aside as unsupported by valid information and time-barred.
Valid information for reassessment must point to income that escaped tax, not receipts disclosed, accounted for and taxed by the resulting company following a corporate demerger. Transactions appearing under the demerged entity's PAN because tax was deducted in its name before demerger sanction do not, without more, establish escapement. The extended reassessment period applies only where books, documents or evidence reveal previously undisclosed income meeting the prescribed threshold; material requiring only correlation of already disclosed transactions is insufficient. On these grounds, reassessment for the relevant assessment year was set aside as unsupported by valid information and time-barred.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
