Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
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The assessment order was challenged on the grounds of validity of reopening after four years, based on a change of opinion and borrowed satisfaction. The assessee contended that there were no purchase or sale transactions on the National Spot Exchange Limited (NSEL) during the relevant assessment year. The statutory auditor's report u/s 142A confirmed no stock pertaining to NSEL transactions. However, the Assessing Officer reopened the assessment solely based on outstanding dues payable by the assessee to NSEL from earlier years, without considering the available material and audit report. The High Court held that the reopening notice was issued without application of mind, amounting to a change of opinion and borrowed satisfaction, as the entire issue was scrutinized during the regular assessment. The assessee had made full and true disclosures, and the reasons recorded for reopening were without jurisdiction on the face of the material available on record. Consequently, the assessee's appeal was allowed.
The assessment order was challenged on the grounds of validity of reopening after four years, based on a change of opinion and borrowed satisfaction. The assessee contended that there were no purchase or sale transactions on the National Spot Exchange Limited (NSEL) during the relevant assessment year. The statutory auditor's report u/s 142A confirmed no stock pertaining to NSEL transactions. However, the Assessing Officer reopened the assessment solely based on outstanding dues payable by the assessee to NSEL from earlier years, without considering the available material and audit report. The High Court held that the reopening notice was issued without application of mind, amounting to a change of opinion and borrowed satisfaction, as the entire issue was scrutinized during the regular assessment. The assessee had made full and true disclosures, and the reasons recorded for reopening were without jurisdiction on the face of the material available on record. Consequently, the assessee's appeal was allowed.
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