Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Reopening of assessment u/s 147 was invalid due to procedural irregularities. The Assessing Officer initiated proceedings without verifying information and the Commissioner of Income Tax granted approval without applying mind. Approval by Commissioner was without recording independent satisfaction, rendering reopening unsustainable. Consequently, notice u/s 148 and subsequent proceedings were quashed. The Commissioner of Income Tax (Appeals) erroneously passed order regarding Vivad Se Vishwas Scheme despite assessee not applying for immunity, hence order quashed. The Assessing Officer made addition without invoking any provision of law or specifying head of income, violating principles of natural justice by denying assessee opportunity to defend. Supreme Court rulings mandate providing reasonable notice of charges and provisions violated. Absence of such notice vitiated proceedings. Therefore, addition made by authorities was deleted and appeal allowed.
Reopening of assessment u/s 147 was invalid due to procedural irregularities. The Assessing Officer initiated proceedings without verifying information and the Commissioner of Income Tax granted approval without applying mind. Approval by Commissioner was without recording independent satisfaction, rendering reopening unsustainable. Consequently, notice u/s 148 and subsequent proceedings were quashed. The Commissioner of Income Tax (Appeals) erroneously passed order regarding Vivad Se Vishwas Scheme despite assessee not applying for immunity, hence order quashed. The Assessing Officer made addition without invoking any provision of law or specifying head of income, violating principles of natural justice by denying assessee opportunity to defend. Supreme Court rulings mandate providing reasonable notice of charges and provisions violated. Absence of such notice vitiated proceedings. Therefore, addition made by authorities was deleted and appeal allowed.
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