BCD exemption for specified display assembly inputs extended for automotive, medical and industrial applications, with defined exclusions and sunset d...
Prospective valuation amendment limits reassessment: unamended fair market value reference could not justify reopening based on a registered valuer's ...
Tax assessment order set aside due to defects in show cause notice, failure to consider Covid-19 impact on business operations. Taxpayer engaged in milk manufacturing faced stagnation of goods, requiring excess electricity consumption for storage despite low sales. Respondent failed to consider vital aspects explained by taxpayer regarding disparity between turnover and electricity units consumed. High Court remanded matter for reconsideration by respondent after finding violation of principles of natural justice by not considering taxpayer's reply and supporting documents adequately before alleging suppression of sales.
Tax assessment order set aside due to defects in show cause notice, failure to consider Covid-19 impact on business operations. Taxpayer engaged in milk manufacturing faced stagnation of goods, requiring excess electricity consumption for storage despite low sales. Respondent failed to consider vital aspects explained by taxpayer regarding disparity between turnover and electricity units consumed. High Court remanded matter for reconsideration by respondent after finding violation of principles of natural justice by not considering taxpayer's reply and supporting documents adequately before alleging suppression of sales.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
