Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
Internal TNMM supports deletion of freight-forwarding adjustments where comparable non-AE transactions are separately identifiable and materially simi...
Statutory prior intimation before disposal of seized gold was not given, preventing the Department from limiting restitution to the disposal consideration. If the owners ultimately succeed in the confiscation proceedings, they are entitled to the gold's fair market value as on the date of release, subject to deduction of any fine or penalty. Pending the Department's appeal against the fresh non-confiscation order, immediate payment against a bank guarantee was refused and the merits, including abatement, were left for appellate determination. The Commissioner (Appeals) must decide the appeal expeditiously, with disbursement of fair market value governed by its outcome.
Statutory prior intimation before disposal of seized gold was not given, preventing the Department from limiting restitution to the disposal consideration. If the owners ultimately succeed in the confiscation proceedings, they are entitled to the gold's fair market value as on the date of release, subject to deduction of any fine or penalty. Pending the Department's appeal against the fresh non-confiscation order, immediate payment against a bank guarantee was refused and the merits, including abatement, were left for appellate determination. The Commissioner (Appeals) must decide the appeal expeditiously, with disbursement of fair market value governed by its outcome.
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TaxTMI 
TaxTMI 
