Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Validity of assessment order passed u/s 144C - The ITAT held that the order issued by the AO was a final assessment order disguised as a draft, violating section 144C of the Act. This section mandates that a draft order must be issued first, allowing the assessee to file objections with the Dispute Resolution Panel (DRP) before finalizing the assessment. The inclusion of penalty notices and demand under section 156 alongside the draft/final order further supported the Tribunal's conclusion that the order was final. The Tribunal concluded that the appeal by the assessee was to be allowed and the orders by the lower authorities were declared non est (non-existent for legal purposes).
Validity of assessment order passed u/s 144C - The ITAT held that the order issued by the AO was a final assessment order disguised as a draft, violating section 144C of the Act. This section mandates that a draft order must be issued first, allowing the assessee to file objections with the Dispute Resolution Panel (DRP) before finalizing the assessment. The inclusion of penalty notices and demand under section 156 alongside the draft/final order further supported the Tribunal's conclusion that the order was final. The Tribunal concluded that the appeal by the assessee was to be allowed and the orders by the lower authorities were declared non est (non-existent for legal purposes).
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