Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
Provisional release of seized imports requires enhanced duty payment, bank guarantee and disclosures while customs adjudication proceeds independently...
Reopening of assessment u/s 147 - second re-assessment notice u/s 148A - The High Court noted that the petitioner did not challenge the earlier re-assessment order dated 28.03.2022, which had become final. Therefore, there was no basis for initiating a subsequent re-assessment proceeding. The Court held that in the absence of any declaration annulling or setting aside the previous re-assessment order, the Assessing Authority lacked jurisdiction to issue the second re-assessment notice. Thus, the proceedings initiated through the notice dated 30.07.2022 were declared as without jurisdiction and nullity.
Reopening of assessment u/s 147 - second re-assessment notice u/s 148A - The High Court noted that the petitioner did not challenge the earlier re-assessment order dated 28.03.2022, which had become final. Therefore, there was no basis for initiating a subsequent re-assessment proceeding. The Court held that in the absence of any declaration annulling or setting aside the previous re-assessment order, the Assessing Authority lacked jurisdiction to issue the second re-assessment notice. Thus, the proceedings initiated through the notice dated 30.07.2022 were declared as without jurisdiction and nullity.
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