Functional comparability under TNMM supported exclusion of ITeS comparables with R&D, intangibles, diversified operations, or unavailable segmental da...
Validity of reopening assessment challenged due to non-disposal of objections raised by assessee against reassessment. Deduction u/s 24(a) proposed to be disallowed. Court held that as per GKN DRIVESHAFTS (INDIA) LTD. [2002 (11) TMI 7 - SUPREME COURT], it is mandatory for Assessing Officer to dispose of objections filed by assessee for reopening assessment. Without entering merits, impugned assessment orders quashed and matters remanded to Assessing Officer to dispose of objections raised by assessee for reopening assessment.
Validity of reopening assessment challenged due to non-disposal of objections raised by assessee against reassessment. Deduction u/s 24(a) proposed to be disallowed. Court held that as per GKN DRIVESHAFTS (INDIA) LTD. [2002 (11) TMI 7 - SUPREME COURT], it is mandatory for Assessing Officer to dispose of objections filed by assessee for reopening assessment. Without entering merits, impugned assessment orders quashed and matters remanded to Assessing Officer to dispose of objections raised by assessee for reopening assessment.
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