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...
Jurisdiction of AO - Validity of notice issued u/s 143(2) - No objection were filed within one month u/s 124 - The Appellate Tribunal found that the notices were indeed issued by a non-jurisdictional AO, and there was no dispute regarding this fact from the Revenue's side. However, the Revenue relied on Section 292BB, arguing that the absence of objection within the stipulated time period validated their actions. In response, the Tribunal referred to the case of ITO vs. Almak Finance P. Ltd., where it was held that actions taken by authorities lacking jurisdiction are void ab initio. Thus, failure to dispute jurisdiction under Section 124(3) did not preclude the appellant from challenging it later. Consequently, the Tribunal concluded that the AO lacked jurisdiction, leading to the quashing of the assessment order.
Jurisdiction of AO - Validity of notice issued u/s 143(2) - No objection were filed within one month u/s 124 - The Appellate Tribunal found that the notices were indeed issued by a non-jurisdictional AO, and there was no dispute regarding this fact from the Revenue's side. However, the Revenue relied on Section 292BB, arguing that the absence of objection within the stipulated time period validated their actions. In response, the Tribunal referred to the case of ITO vs. Almak Finance P. Ltd., where it was held that actions taken by authorities lacking jurisdiction are void ab initio. Thus, failure to dispute jurisdiction under Section 124(3) did not preclude the appellant from challenging it later. Consequently, the Tribunal concluded that the AO lacked jurisdiction, leading to the quashing of the assessment order.
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