Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4780
Join Channel
TaxTMI 
