Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
The ITAT Ahmedabad addressed the jurisdiction of the AO over a corporate assessee with income exceeding Rs. 30 Lakhs in metro cities. The tribunal confirmed that income, as per Section 2(24) of the Income Tax Act, includes losses. Referring to legal precedents, it was established that income encompasses losses. Therefore, the CBDT Instruction on jurisdiction applied to cases of both income and losses over Rs. 30 Lakhs. The DCIT's issuance of notice u/s 143(2) was deemed appropriate. The rejection of the assessee's books of account and estimation of profit at 10% of total receipts were upheld. The assessee's failure to provide proper accounts and evidence led to the rejection. The AO's estimation of income at 10% was considered reasonable, given the nature of the assessee's work and the prescribed rate under the Act. The tribunal declined to interfere with the AO's income estimation.
The ITAT Ahmedabad addressed the jurisdiction of the AO over a corporate assessee with income exceeding Rs. 30 Lakhs in metro cities. The tribunal confirmed that income, as per Section 2(24) of the Income Tax Act, includes losses. Referring to legal precedents, it was established that income encompasses losses. Therefore, the CBDT Instruction on jurisdiction applied to cases of both income and losses over Rs. 30 Lakhs. The DCIT's issuance of notice u/s 143(2) was deemed appropriate. The rejection of the assessee's books of account and estimation of profit at 10% of total receipts were upheld. The assessee's failure to provide proper accounts and evidence led to the rejection. The AO's estimation of income at 10% was considered reasonable, given the nature of the assessee's work and the prescribed rate under the Act. The tribunal declined to interfere with the AO's income estimation.
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