Unverified judicial precedents cannot sustain customs reassessment treating the speaking-order deadline as directory when cited decisions are disclaim...
Struck-off companies cannot pursue declarations or injunctions over contractual rights without restoration, despite the statutory saving for recoverie...
Departmental appeal limits permit discretionary exceptions, while penalties for technical e-way bill lapses in genuine transactions require evasion in...
GST exemptions for government-facing incubation services depend on recipient status, while enterprise-support funds and incubator recognition affect t...
Transfer pricing comparability excludes functionally different providers and companies whose abnormal profits from extraordinary circumstances distort...
Tax-inclusive valuation of purchases and inventory remains mandatory despite separate accounting, while revision requires an erroneous and prejudicial...
Pecuniary jurisdiction determines the validity of reassessment notices. Under the applicable instruction, jurisdiction over the corporate taxpayer's returned loss in a metro charge lay with an ITO. A notice issued by an ACIT without that jurisdiction rendered the reassessment proceedings and consequential order void. An appellate authority may conduct its own inquiry under section 250(4), and Rule 46A does not curtail that power. For unsecured loans treated as unexplained cash credits, the taxpayer established the identity and creditworthiness of the lenders and the genuineness of the transactions. Advertising-service advances had already been offered as revenue.
Pecuniary jurisdiction determines the validity of reassessment notices. Under the applicable instruction, jurisdiction over the corporate taxpayer's returned loss in a metro charge lay with an ITO. A notice issued by an ACIT without that jurisdiction rendered the reassessment proceedings and consequential order void. An appellate authority may conduct its own inquiry under section 250(4), and Rule 46A does not curtail that power. For unsecured loans treated as unexplained cash credits, the taxpayer established the identity and creditworthiness of the lenders and the genuineness of the transactions. Advertising-service advances had already been offered as revenue.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
