Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
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Reopening of assessment u/s 147 - Scope of new provision section 148A - The explanation tendered for issuance of 148 A (b) notice yet again for the third time is fallacious and unacceptable as the liberty granted under Ashish Agarwal would be available only in those situations where the matters stood at an initial / preliminary stage of re-assessment i.e., at notice stage. In matters where the proceedings have been carried forward to the stage of passing of Section 148A(d) order and issuance of section 148 notice, there is simply no justification in law or in fact, to subject the petitioner to a third round of proceedings. In our view, this is a case, where the liberty granted has not been ‘used’ but ‘abused’ by the Department. - HC
Reopening of assessment u/s 147 - Scope of new provision section 148A - The explanation tendered for issuance of 148 A (b) notice yet again for the third time is fallacious and unacceptable as the liberty granted under Ashish Agarwal would be available only in those situations where the matters stood at an initial / preliminary stage of re-assessment i.e., at notice stage. In matters where the proceedings have been carried forward to the stage of passing of Section 148A(d) order and issuance of section 148 notice, there is simply no justification in law or in fact, to subject the petitioner to a third round of proceedings. In our view, this is a case, where the liberty granted has not been ‘used’ but ‘abused’ by the Department. - HC
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