SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Validity of Reopening of assessment - proceedings drawn u/s 148A commenced by the local jurisdictional officer - non adherence to procedure of faceless regime for the purposes of governing the assessment under the Income Tax Act - The High court examined the provisions of Section 144B of the Income Tax Act, which mandates faceless procedures for assessment, reassessment, or re-computation. It found that these procedures do not extend to the preliminary stages before assessment or reassessment. - Considering the absence of faceless procedures during the preliminary stages and the timing of the introduction of faceless assessment procedures, the court dismissed the petition, finding no illegality in the order passed under Section 148A(b) of the Income Tax Act.
Validity of Reopening of assessment - proceedings drawn u/s 148A commenced by the local jurisdictional officer - non adherence to procedure of faceless regime for the purposes of governing the assessment under the Income Tax Act - The High court examined the provisions of Section 144B of the Income Tax Act, which mandates faceless procedures for assessment, reassessment, or re-computation. It found that these procedures do not extend to the preliminary stages before assessment or reassessment. - Considering the absence of faceless procedures during the preliminary stages and the timing of the introduction of faceless assessment procedures, the court dismissed the petition, finding no illegality in the order passed under Section 148A(b) of the Income Tax Act.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
