Commitment proceedings gain extended timelines, structured defect refiling, and automatic resumption of inquiry after the adjusted completion period e...
Centralised assessment transfer becomes unwarranted once the searched person's assessment is complete, requiring restoration to the appropriate charge...
Co-operative deduction eligibility excludes refund and commercial-bank interest, while qualifying co-operative investments require entity-wise verific...
Enhanced tax rate on surrendered unexplained income applies prospectively, while cash-deposit telescoping requires verification of available surrender...
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Rectification u/s 154 - Chargeability of interest u/s 234B and 234C - income returned u/s 115JB - The return was assessed under section 143(3) of the Act, and no interest was charged under sections 234B and 234C as per the prevailing law. - Subsequently, a search and seizure operation was conducted, leading to proceedings under section 153A. The CIT(A) deleted all additions made in the assessment order under section 153A. - However, while giving appeal effect to the CIT(A)'s order, the Assessing Officer introduced a new issue of charging interest under sections 234B and 234C, which was not part of the original assessment or appeal. - The ITAT held that the Assessing Officer exceeded his jurisdiction by introducing a new issue of charging interest under sections 234B and 234C during appeal effect.
Rectification u/s 154 - Chargeability of interest u/s 234B and 234C - income returned u/s 115JB - The return was assessed under section 143(3) of the Act, and no interest was charged under sections 234B and 234C as per the prevailing law. - Subsequently, a search and seizure operation was conducted, leading to proceedings under section 153A. The CIT(A) deleted all additions made in the assessment order under section 153A. - However, while giving appeal effect to the CIT(A)'s order, the Assessing Officer introduced a new issue of charging interest under sections 234B and 234C, which was not part of the original assessment or appeal. - The ITAT held that the Assessing Officer exceeded his jurisdiction by introducing a new issue of charging interest under sections 234B and 234C during appeal effect.
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