Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
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Validity of Faceless Assessment - demand notice was issued without furnishing a draft order to the Petitioners, violating Section 144C(1) of the IT Act. - After considering submissions from both parties, the High court found merit in the petitioner's argument regarding non-compliance with statutory procedures. Consequently, the court quashed the impugned assessment order and notice. However, contrary to the petitioner's plea to conclude the matter there, the court opted to follow the approach established by the Supreme Court. The court ruled that while the assessment order was set aside, the department should be given an opportunity to rectify the procedural error and pass a fresh order in compliance with the law.
Validity of Faceless Assessment - demand notice was issued without furnishing a draft order to the Petitioners, violating Section 144C(1) of the IT Act. - After considering submissions from both parties, the High court found merit in the petitioner's argument regarding non-compliance with statutory procedures. Consequently, the court quashed the impugned assessment order and notice. However, contrary to the petitioner's plea to conclude the matter there, the court opted to follow the approach established by the Supreme Court. The court ruled that while the assessment order was set aside, the department should be given an opportunity to rectify the procedural error and pass a fresh order in compliance with the law.
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