Alternate statutory remedy governs GST assessment challenge, with statutory appeal preserved and limitation objection barred for the permitted filing ...
FERA proceedings initiated based on show cause notice alleging misdeclaration of export goods value were dropped by Enforcement Directorate against assessee. Income tax additions made relying on documents seized during search, relating to subsequent years, were untenable as foundation of proceedings under 1961 Act stood nullified. Appellate Tribunal rightly held that no additions could be made in returned income for the year to which documents did not pertain, after FERA proceedings were quashed. No factual or legal infirmity in impugned orders.
FERA proceedings initiated based on show cause notice alleging misdeclaration of export goods value were dropped by Enforcement Directorate against assessee. Income tax additions made relying on documents seized during search, relating to subsequent years, were untenable as foundation of proceedings under 1961 Act stood nullified. Appellate Tribunal rightly held that no additions could be made in returned income for the year to which documents did not pertain, after FERA proceedings were quashed. No factual or legal infirmity in impugned orders.
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