International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
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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