Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Notice issued by Jurisdictional Assessing Officer (JAO) instead of Faceless Assessment Officer (FAO) u/s 148A(b) for income escaping assessment is invalid. Faceless assessment scheme notified u/s 151A mandates automated allocation and faceless assessment u/s 144B. JAO lacked jurisdiction to issue notice outside faceless assessment procedure. Assessing Officer also failed to consider assessee's submission regarding project completion method while reopening assessment. Assessee's appeal allowed by High Court on grounds of invalidity of notice and non-consideration of submissions.
Notice issued by Jurisdictional Assessing Officer (JAO) instead of Faceless Assessment Officer (FAO) u/s 148A(b) for income escaping assessment is invalid. Faceless assessment scheme notified u/s 151A mandates automated allocation and faceless assessment u/s 144B. JAO lacked jurisdiction to issue notice outside faceless assessment procedure. Assessing Officer also failed to consider assessee's submission regarding project completion method while reopening assessment. Assessee's appeal allowed by High Court on grounds of invalidity of notice and non-consideration of submissions.
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