Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Validity of reassessment order - disallowance of ITC claim - The court examined the provisions of Section 29 of the Act, which pertains to the assessment of tax on turnover escaped from assessment. It was determined that the scope of reassessment under Section 29 did not include the recomputation of ITC or RITC. The court noted that ITC is an allowance and not part of the determination of turnover or tax liability. Therefore, the jurisdiction to reassess did not arise under Section 29 of the Act for RITC, making the reassessment proceedings against the petitioner without jurisdiction.
Validity of reassessment order - disallowance of ITC claim - The court examined the provisions of Section 29 of the Act, which pertains to the assessment of tax on turnover escaped from assessment. It was determined that the scope of reassessment under Section 29 did not include the recomputation of ITC or RITC. The court noted that ITC is an allowance and not part of the determination of turnover or tax liability. Therefore, the jurisdiction to reassess did not arise under Section 29 of the Act for RITC, making the reassessment proceedings against the petitioner without jurisdiction.
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