Additional evidence in departmental appeals may include show-cause-notice material without introducing a new case where it merely corroborates existin...
Reasoned rectification orders require consideration of expenditure disclosed in income-tax returns, preventing revision based on incomplete income com...
Modified returns after business reorganisations cannot trigger fresh scrutiny once the original assessment was complete, invalidating related transfer...
Third-party loose sheets require reliable nexus before supporting unexplained expenditure additions; presumptions do not establish payer identity or o...
TNMM comparability using audited accounts and working-capital adjustments can eliminate unwarranted transfer-pricing additions where verified margins ...
Gross-profit additions on disputed purchases require reasoned appellate determination; disclosed claims alone do not support inaccurate-particulars pe...
Limitation after transfer-pricing remand: fresh TPO reference did not extend the assessment deadline, rendering the consequential assessment time-barr...
Interim judicial restraint on tax deduction prevents default, while supporting reasonable cause and penalty deletion for foreign-leg LFC reimbursement...
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Assessment order passed against a non-existent entity due to merger of companies is invalid. The assessment order was passed in the name of Genpact India, which had already merged with Genpact India Private Limited. As per Section 394 of the Companies Act, 1956, upon merger, the amalgamating company ceases to exist and cannot be regarded as a 'person' u/s 2(31) of the Income Tax Act, 1961, against whom assessment proceedings can be initiated or an order passed. Issuing an assessment order in the name of a non-existent entity is not a procedural irregularity curable u/s 292B. The Appellate Tribunal upheld the assessee's contention and decided in its favor.
Assessment order passed against a non-existent entity due to merger of companies is invalid. The assessment order was passed in the name of Genpact India, which had already merged with Genpact India Private Limited. As per Section 394 of the Companies Act, 1956, upon merger, the amalgamating company ceases to exist and cannot be regarded as a 'person' u/s 2(31) of the Income Tax Act, 1961, against whom assessment proceedings can be initiated or an order passed. Issuing an assessment order in the name of a non-existent entity is not a procedural irregularity curable u/s 292B. The Appellate Tribunal upheld the assessee's contention and decided in its favor.
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