Transitional tax credit for eligible dealers survives incorrect form entries, while previously available eligibility objections cannot be raised on ap...
Reassessment proceedings tied to an erstwhile company's PAN are invalid where conversion into an LLP has ended the company's existence and compliance requires it to file a return. Dividend and TDS reporting against that PAN does not revive the company, even if notices name the LLP. A non-filer flag under the Risk Management Strategy requires independent application of mind and cannot justify reassessment when the successor LLP has filed its return and disclosed the dividend income; the non-filing premise cannot be transferred to the LLP's PAN. Under the amended reassessment regime, information must suggest income has escaped assessment. Verification of dividend transactions alone, without an identified discrepancy or other supporting material, is insufficient.
Reassessment proceedings tied to an erstwhile company's PAN are invalid where conversion into an LLP has ended the company's existence and compliance requires it to file a return. Dividend and TDS reporting against that PAN does not revive the company, even if notices name the LLP. A non-filer flag under the Risk Management Strategy requires independent application of mind and cannot justify reassessment when the successor LLP has filed its return and disclosed the dividend income; the non-filing premise cannot be transferred to the LLP's PAN. Under the amended reassessment regime, information must suggest income has escaped assessment. Verification of dividend transactions alone, without an identified discrepancy or other supporting material, is insufficient.
Note: It is a system-generated summary and is for quick reference only.
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