Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Priority/out of turn hearing of the appeals pending with CsIT (AU) and/or CIT(A) - The judgment by the Madras High Court addressed the petitioner's grievance regarding the rejection of their appeal against an assessment order. Despite acknowledging the genuine hardship faced by the petitioner, the Court declined to prioritize their case due to the backlog of appeals before the Appellate Commissioner. Instead, it advised the petitioner to file an application for a stay of recovery proceedings, granting them four weeks to do so. The respondents were directed to suspend all recovery proceedings until the application is resolved.
Priority/out of turn hearing of the appeals pending with CsIT (AU) and/or CIT(A) - The judgment by the Madras High Court addressed the petitioner's grievance regarding the rejection of their appeal against an assessment order. Despite acknowledging the genuine hardship faced by the petitioner, the Court declined to prioritize their case due to the backlog of appeals before the Appellate Commissioner. Instead, it advised the petitioner to file an application for a stay of recovery proceedings, granting them four weeks to do so. The respondents were directed to suspend all recovery proceedings until the application is resolved.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
