Personal liberty safeguards restrict arrest after court-directed GST appearance, requiring interim release where authorities overreach pending proceed...
Alternative statutory remedy and delay bar GST writ challenges despite pending rectification, while distinct subject matter permits parallel proceedin...
Unverified Insight Portal Information Cannot Justify Reassessment Without a Verified Taxpayer-Specific Income-Escape Nexus or Demonstrated Application...
Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Revision u/s 263 - assessee had claimed losses on account of commodities - derivatives - speculation loss or not - Transaction in question involved settlement otherwise than the actual delivery or transfer of any commodity - PCIT proceeded on a different angle which were not the materials based on which show cause notice was issued. Thus, a fundamental error has been committed by the PCIT by proceeding based upon certain alleged facts which were never brought on record at the time of issuance of the show cause notice. When the matter was carried on appeal to the tribunal, the tribunal examined the documents and found that the transaction done by the assessee was an eligible transaction in respect of trading in derivatives - HC
Revision u/s 263 - assessee had claimed losses on account of commodities - derivatives - speculation loss or not - Transaction in question involved settlement otherwise than the actual delivery or transfer of any commodity - PCIT proceeded on a different angle which were not the materials based on which show cause notice was issued. Thus, a fundamental error has been committed by the PCIT by proceeding based upon certain alleged facts which were never brought on record at the time of issuance of the show cause notice. When the matter was carried on appeal to the tribunal, the tribunal examined the documents and found that the transaction done by the assessee was an eligible transaction in respect of trading in derivatives - HC
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