SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
The ITAT Amritsar held that the reassessment order u/s 147 was invalid due to the absence of a statutory notice u/s 143(2). The non-issuance of the statutory notice u/s 143(2) was deemed an incurable defect, rendering the assessment proceedings legally flawed. Citing the judgments in Hotel Blue Moon and Laxman Das Khandelwal, the tribunal emphasized the mandatory nature of the notice. Referring to cases like Cebon India Ltd. and Punnu Synthetics Private Limited, the tribunal concluded that the assessment order was invalid without the requisite notice. The decision favored the assessee.
The ITAT Amritsar held that the reassessment order u/s 147 was invalid due to the absence of a statutory notice u/s 143(2). The non-issuance of the statutory notice u/s 143(2) was deemed an incurable defect, rendering the assessment proceedings legally flawed. Citing the judgments in Hotel Blue Moon and Laxman Das Khandelwal, the tribunal emphasized the mandatory nature of the notice. Referring to cases like Cebon India Ltd. and Punnu Synthetics Private Limited, the tribunal concluded that the assessment order was invalid without the requisite notice. The decision favored the assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
