Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Inconsistent Rule with statutory provision - Section 18(6) of the JVAT Act, 2005 does not contemplate production of JVAT -404 Forms as a mandatory condition for availing benefit of ITC. However, Rule 35(2) stipulates further condition of production of JVAT 404 Form as requirement for claiming benefit of ITC. - To this extent, Rule 35(2) of the JVAT Rules, 2006 is inconsistent with the provision of Section 18(6) of the JVAT Act, 2005 and is required to be held directory in nature and not mandatory. - HC
Inconsistent Rule with statutory provision - Section 18(6) of the JVAT Act, 2005 does not contemplate production of JVAT -404 Forms as a mandatory condition for availing benefit of ITC. However, Rule 35(2) stipulates further condition of production of JVAT 404 Form as requirement for claiming benefit of ITC. - To this extent, Rule 35(2) of the JVAT Rules, 2006 is inconsistent with the provision of Section 18(6) of the JVAT Act, 2005 and is required to be held directory in nature and not mandatory. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
