Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
Validity of Reopening of assessment - disallowance of expenditure being the inflated cost of fuels - information from the Directorate of Revenue Intelligence (DRI) relied upon - The Tribunal noted that, the basis for the reopening, a DRI show cause notice, was quashed by the competent authority/ CESTAT, making the reassessment unsustainable. The ITAT upheld the order of CIT(A) deleting the additions as the determination made by the AO in any case is un-sustainable being sans foundation/substantive material.
Validity of Reopening of assessment - disallowance of expenditure being the inflated cost of fuels - information from the Directorate of Revenue Intelligence (DRI) relied upon - The Tribunal noted that, the basis for the reopening, a DRI show cause notice, was quashed by the competent authority/ CESTAT, making the reassessment unsustainable. The ITAT upheld the order of CIT(A) deleting the additions as the determination made by the AO in any case is un-sustainable being sans foundation/substantive material.
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