Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Tribunal set aside charge-sheet against Income Tax Commissioner for deleting addition while deciding appeal hastily. Order initially reversed by ITAT but later remanded by High Court to ITAT for fresh decision after hearing assessee. ITAT remanded matter to Assessing Officer for deciding issue afresh. Premise for charge-sheet vanished as gravity of charge diluted. Department aware of alleged negligence but delayed initiating disciplinary proceedings till ITAT's fresh order pursuant to High Court's direction. Delay fatal, rendering charge-sheet liable to be set aside. Supreme Court dismissed State's challenge in similar circumstances. Petition dismissed as lacking merit.
Tribunal set aside charge-sheet against Income Tax Commissioner for deleting addition while deciding appeal hastily. Order initially reversed by ITAT but later remanded by High Court to ITAT for fresh decision after hearing assessee. ITAT remanded matter to Assessing Officer for deciding issue afresh. Premise for charge-sheet vanished as gravity of charge diluted. Department aware of alleged negligence but delayed initiating disciplinary proceedings till ITAT's fresh order pursuant to High Court's direction. Delay fatal, rendering charge-sheet liable to be set aside. Supreme Court dismissed State's challenge in similar circumstances. Petition dismissed as lacking merit.
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