Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
Validity of reopening of assessment - Validity of grant the approval by the PCIT - relevancy of information reported by Insight portal - Despite the petitioner's explanations and evidence of proper accounting, the Assessing Officer issued an impugned order claiming significant income escapement. However, the Court found discrepancies between the notice and the order, highlighting the AO's limited authority to reassess income based solely on the issues raised in the notice. Ultimately, the Court allowed the petition, quashing both the impugned order and notice.
Validity of reopening of assessment - Validity of grant the approval by the PCIT - relevancy of information reported by Insight portal - Despite the petitioner's explanations and evidence of proper accounting, the Assessing Officer issued an impugned order claiming significant income escapement. However, the Court found discrepancies between the notice and the order, highlighting the AO's limited authority to reassess income based solely on the issues raised in the notice. Ultimately, the Court allowed the petition, quashing both the impugned order and notice.
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