Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Objective characteristics govern magnesium bis-glycinate chelate classification as an amino-acid coordination compound, not a food preparation or anti...
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Recovery proceedings u/s 263 were challenged. The Tribunal directed inquiries regarding the correctness of the valuation report, but these directions were allegedly not followed in the assessment order passed on remand. The High Court held that recovery should await the disposal of the appeal, as the demand was based on an assessment order passed prior to the Tribunal's order. 20% of the amounts had already been recovered, and no further recovery would be carried out based on the impugned assessment until the appeal is disposed of. If the assessment is set aside, the assessee would be entitled to a refund along with interest, either as per statute or the interest paid in the cash credit account, whichever is higher. If the assessment is upheld, the assessee would be saved from interest on the amount recovered during the intervening period. There was no need to direct a refund of the 20% already recovered.
Recovery proceedings u/s 263 were challenged. The Tribunal directed inquiries regarding the correctness of the valuation report, but these directions were allegedly not followed in the assessment order passed on remand. The High Court held that recovery should await the disposal of the appeal, as the demand was based on an assessment order passed prior to the Tribunal's order. 20% of the amounts had already been recovered, and no further recovery would be carried out based on the impugned assessment until the appeal is disposed of. If the assessment is set aside, the assessee would be entitled to a refund along with interest, either as per statute or the interest paid in the cash credit account, whichever is higher. If the assessment is upheld, the assessee would be saved from interest on the amount recovered during the intervening period. There was no need to direct a refund of the 20% already recovered.
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