Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Reassessment proceedings' validity questioned due to lack of appropriate authority's sanction u/s 151. Legality of jurisdiction, assessment orders, and notices issued under Income Tax Act examined. Held that if assessment order and notices u/ss 148A and 148 contravene Sections 151A and 151 as interpreted in Hexaware and Siemens cases, Appellate and Revisionary Authorities, bound by jurisdictional High Court decisions, must consider this legal position. Petitioner can raise such contentions before these authorities. Writ petitions adjudicating issues pending before Appellate Authority should not be entertained when it can decide per High Court rulings. Petitioner should pursue pending appellate and revisionary proceedings. If assessment order and Section 148 notice prima facie illegal per Hexaware and Siemens, they should not be given effect until appellate and revisionary proceedings decided.
Reassessment proceedings' validity questioned due to lack of appropriate authority's sanction u/s 151. Legality of jurisdiction, assessment orders, and notices issued under Income Tax Act examined. Held that if assessment order and notices u/ss 148A and 148 contravene Sections 151A and 151 as interpreted in Hexaware and Siemens cases, Appellate and Revisionary Authorities, bound by jurisdictional High Court decisions, must consider this legal position. Petitioner can raise such contentions before these authorities. Writ petitions adjudicating issues pending before Appellate Authority should not be entertained when it can decide per High Court rulings. Petitioner should pursue pending appellate and revisionary proceedings. If assessment order and Section 148 notice prima facie illegal per Hexaware and Siemens, they should not be given effect until appellate and revisionary proceedings decided.
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