Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
The Principal Commissioner or Commissioner having jurisdiction over transfer pricing matters has been empowered, effective April 1, 2022, to invoke revisionary action u/s 263 regarding orders passed by the Transfer Pricing Officer (TPO) under their administrative control. The amendment aimed to resolve confusion over revisionary powers concerning TPO orders, particularly after the 2014 notification defining the command chain from Principal Chief Commissioner (International Taxation) to Deputy/Assistant Commissioner (Transfer Pricing). The lawmaker included the "Transfer Pricing Officer" alongside the Assessing Officer for revisionary orders by the respective Principal Commissioner or Commissioner. When statutory provisions are unambiguous, no interpretation is permissible. Only the Principal Commissioner or Commissioner can exercise revisionary authority over TPO orders under their command from April 1, 2022. The order passed by the Principal CIT, Madurai-1 was without valid jurisdiction and deserves quashing. The Assessing Officer's order u/s 143(3) read with Section 144B did not warrant revisionary powers as it lacked deficiencies prejudicial to revenue interests. Consequently, the Principal CIT's order u/s 263 is void ab initio and quashed in favor of the assessee.
The Principal Commissioner or Commissioner having jurisdiction over transfer pricing matters has been empowered, effective April 1, 2022, to invoke revisionary action u/s 263 regarding orders passed by the Transfer Pricing Officer (TPO) under their administrative control. The amendment aimed to resolve confusion over revisionary powers concerning TPO orders, particularly after the 2014 notification defining the command chain from Principal Chief Commissioner (International Taxation) to Deputy/Assistant Commissioner (Transfer Pricing). The lawmaker included the "Transfer Pricing Officer" alongside the Assessing Officer for revisionary orders by the respective Principal Commissioner or Commissioner. When statutory provisions are unambiguous, no interpretation is permissible. Only the Principal Commissioner or Commissioner can exercise revisionary authority over TPO orders under their command from April 1, 2022. The order passed by the Principal CIT, Madurai-1 was without valid jurisdiction and deserves quashing. The Assessing Officer's order u/s 143(3) read with Section 144B did not warrant revisionary powers as it lacked deficiencies prejudicial to revenue interests. Consequently, the Principal CIT's order u/s 263 is void ab initio and quashed in favor of the assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
