Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
The taxpayer filed an original return which was processed by the CPC. Subsequently, a revised return was filed u/s 139(5) with a self-assessment tax of Rs. 10,820/-. However, the taxpayer again paid self-assessment tax not aligned with either the original or revised return. The CPC did not process the revised return, and rectification was disallowed. The ITAT directed the Assessing Officer to consider the rectification petition without limitation issues. The AO must verify the returns, compute income correctly, and not dismiss the petition solely on limitation grounds. The assessee must furnish relevant evidence. Tax cannot be collected without legal authority, and the assessee's bona fides were evident due to erroneous tax payment.
The taxpayer filed an original return which was processed by the CPC. Subsequently, a revised return was filed u/s 139(5) with a self-assessment tax of Rs. 10,820/-. However, the taxpayer again paid self-assessment tax not aligned with either the original or revised return. The CPC did not process the revised return, and rectification was disallowed. The ITAT directed the Assessing Officer to consider the rectification petition without limitation issues. The AO must verify the returns, compute income correctly, and not dismiss the petition solely on limitation grounds. The assessee must furnish relevant evidence. Tax cannot be collected without legal authority, and the assessee's bona fides were evident due to erroneous tax payment.
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