Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
The Delhi High Court examined the validity of an order passed u/s 92CA and jurisdiction to pass an assessment order post-limitation period. The court held that once the Transfer Pricing Officer (TPO) passed an order in accordance with ITAT directions, the Assessing Officer (AO) was obligated to pass an assessment order within nine months. The court found that the AO's failure to do so rendered a subsequent reference to the TPO unwarranted. The court emphasized that the ITAT directions did not require a fresh reference, and the AO's actions were legally unjustified. The court concluded that the AO was barred from passing further assessment orders for the relevant assessment year, granting relief to the petitioner.
The Delhi High Court examined the validity of an order passed u/s 92CA and jurisdiction to pass an assessment order post-limitation period. The court held that once the Transfer Pricing Officer (TPO) passed an order in accordance with ITAT directions, the Assessing Officer (AO) was obligated to pass an assessment order within nine months. The court found that the AO's failure to do so rendered a subsequent reference to the TPO unwarranted. The court emphasized that the ITAT directions did not require a fresh reference, and the AO's actions were legally unjustified. The court concluded that the AO was barred from passing further assessment orders for the relevant assessment year, granting relief to the petitioner.
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