Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
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Time limit to pass assessment u/s. 92CA(3) - Transfer pricing adjustments - After thorough consideration of the statutory provisions and legal arguments presented by both parties, the Tribunal found merit in the assessee's contention. It observed that the TPO's order, along with the subsequent draft and final assessment orders, were passed beyond the prescribed time limit. Despite the Revenue's assertion that the time limit was discretionary, the Tribunal upheld the assessee's argument, emphasizing the mandatory nature of the prescribed time frame.
Time limit to pass assessment u/s. 92CA(3) - Transfer pricing adjustments - After thorough consideration of the statutory provisions and legal arguments presented by both parties, the Tribunal found merit in the assessee's contention. It observed that the TPO's order, along with the subsequent draft and final assessment orders, were passed beyond the prescribed time limit. Despite the Revenue's assertion that the time limit was discretionary, the Tribunal upheld the assessee's argument, emphasizing the mandatory nature of the prescribed time frame.
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