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...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
The High Court examined the validity of an assessment order issued without offering a personal hearing, deeming it a breach of natural justice. The case was transferred from the National Faceless Assessment Center to the jurisdictional AO u/s 144B(8). The respondent rejected the petitioner's request for a hearing via video conference due to purported lack of functionality, contrary to provisions in section 144B and a CBDT circular. The court found the respondent's claim baseless as the circular mandated a hearing either via video conference or in a designated area. The petitioner's right to a hearing was upheld, dismissing the respondent's argument of alternative appeal options. The assessment order was annulled, and the matter was remanded for a proper hearing in line with the CBDT circular.
The High Court examined the validity of an assessment order issued without offering a personal hearing, deeming it a breach of natural justice. The case was transferred from the National Faceless Assessment Center to the jurisdictional AO u/s 144B(8). The respondent rejected the petitioner's request for a hearing via video conference due to purported lack of functionality, contrary to provisions in section 144B and a CBDT circular. The court found the respondent's claim baseless as the circular mandated a hearing either via video conference or in a designated area. The petitioner's right to a hearing was upheld, dismissing the respondent's argument of alternative appeal options. The assessment order was annulled, and the matter was remanded for a proper hearing in line with the CBDT circular.
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TaxTMI 
TaxTMI 
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