Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
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...
Faceless Assessment - Non affording a reasonable opportunity to be heard through video conferencing - The court referred to Section 144B(6)(vii) and (viii) of the Income Tax Act, which mandates that where a request for a personal hearing is made, it must be provided, and the hearing shall be conducted through video conferencing. The court noted that since the petitioner had requested a video conferencing hearing, it was mandatory for the respondent to accede to the request. The court emphasized the importance of affording the assessee a reasonable opportunity of being heard before passing an adverse order, citing it as a fundamental principle of natural justice. - Consequently, the court set aside the assessment order and remanded the matter to the concerned Assessing Officer for reconsideration.
Faceless Assessment - Non affording a reasonable opportunity to be heard through video conferencing - The court referred to Section 144B(6)(vii) and (viii) of the Income Tax Act, which mandates that where a request for a personal hearing is made, it must be provided, and the hearing shall be conducted through video conferencing. The court noted that since the petitioner had requested a video conferencing hearing, it was mandatory for the respondent to accede to the request. The court emphasized the importance of affording the assessee a reasonable opportunity of being heard before passing an adverse order, citing it as a fundamental principle of natural justice. - Consequently, the court set aside the assessment order and remanded the matter to the concerned Assessing Officer for reconsideration.
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