Separate speaking orders on reopening objections are mandatory; deciding them within reassessment invalidates jurisdiction and precludes revival of st...
Compulsorily convertible debentures remain debt before conversion, preventing transfer-pricing and interest-deduction disallowances on the stated fact...
Stock-in-trade transfer taxability follows possession and consideration, not later conveyance registration, limiting deemed-value provisions to the ac...
Rationalisation of Appeals to the Appellate Tribunal - as per the amendment to sec 253 revisional order passed u/s 263 by PCC or CC or an order u/s 154 are now appealable to Appellate Tribunal. Also, Memorandum of cross objection has been introduced for the revenue where in case respondent files appeal against the order of Commissioner (Appeals), like Principal Commissioner or Commissioner or Principal Director or Director etc. AO would be able to file a cross objection to such appeal which cannot be filed presently.
Rationalisation of Appeals to the Appellate Tribunal - as per the amendment to sec 253 revisional order passed u/s 263 by PCC or CC or an order u/s 154 are now appealable to Appellate Tribunal. Also, Memorandum of cross objection has been introduced for the revenue where in case respondent files appeal against the order of Commissioner (Appeals), like Principal Commissioner or Commissioner or Principal Director or Director etc. AO would be able to file a cross objection to such appeal which cannot be filed presently.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4897 
