Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
The ITAT Amritsar addressed the validity of initiating proceedings u/s 153C(1) instead of 143(3). It was held that initiation of Section 153C occurs upon receiving seized documents by the AO with jurisdiction over the person. The tribunal noted that the initiation u/s 153C(1) was for AY 2021-22, not AY 2020-21, as the documents were handed over on 16-03-2021. Citing precedents like Jasjit Singh and RRJ Securities Ltd, the tribunal deemed the assessment order invalid and quashed it, setting aside the appeal order.
The ITAT Amritsar addressed the validity of initiating proceedings u/s 153C(1) instead of 143(3). It was held that initiation of Section 153C occurs upon receiving seized documents by the AO with jurisdiction over the person. The tribunal noted that the initiation u/s 153C(1) was for AY 2021-22, not AY 2020-21, as the documents were handed over on 16-03-2021. Citing precedents like Jasjit Singh and RRJ Securities Ltd, the tribunal deemed the assessment order invalid and quashed it, setting aside the appeal order.
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