Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
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Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
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Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
The High Court held that the Assessing Officer's failure to frame a draft assessment order and directly passing a final order was violative of the mandatory provisions of Section 144C, rendering the final order a nullity. The court emphasized that it was imperative for the Assessing Officer to frame an order in draft before issuing the final assessment order. Regarding the limitation period u/s 153, the court clarified that it cannot enlarge or expand the statutorily prescribed period for completing the assessment. The court found it unnecessary to examine additional challenges raised against the final assessment orders since the assessment period had expired. Consequently, the writ petitions were allowed.
The High Court held that the Assessing Officer's failure to frame a draft assessment order and directly passing a final order was violative of the mandatory provisions of Section 144C, rendering the final order a nullity. The court emphasized that it was imperative for the Assessing Officer to frame an order in draft before issuing the final assessment order. Regarding the limitation period u/s 153, the court clarified that it cannot enlarge or expand the statutorily prescribed period for completing the assessment. The court found it unnecessary to examine additional challenges raised against the final assessment orders since the assessment period had expired. Consequently, the writ petitions were allowed.
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