Unverified Insight Portal Information Cannot Justify Reassessment Without a Verified Taxpayer-Specific Income-Escape Nexus or Demonstrated Application...
Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Benefit under Direct Tax Vivad Se Vishwas Act, 2020 was considered for a case where no appeal, writ petition, or special leave petition was pending before the appellate forum as on the cut-off date, but a review petition against dismissal of the special leave petition was pending. The court held that even though the scope of a review petition is limited, it partakes the character of pending proceedings. The CBDT circulars clarified that pendency of arbitration proceedings and miscellaneous applications would meet the requirement u/s 2(1)(j) of the Act, even if no appeal was pending. The court ruled that the review petition would also be covered under the "Vivad Se Vishwas Scheme" as the DTVSV Act provides for deviation from strict application of tax laws to achieve its purpose. The impugned order rejecting the declaration was set aside, and the department was directed to accept the revised declaration form and process it under the DTVSV Act, 2020.
Benefit under Direct Tax Vivad Se Vishwas Act, 2020 was considered for a case where no appeal, writ petition, or special leave petition was pending before the appellate forum as on the cut-off date, but a review petition against dismissal of the special leave petition was pending. The court held that even though the scope of a review petition is limited, it partakes the character of pending proceedings. The CBDT circulars clarified that pendency of arbitration proceedings and miscellaneous applications would meet the requirement u/s 2(1)(j) of the Act, even if no appeal was pending. The court ruled that the review petition would also be covered under the "Vivad Se Vishwas Scheme" as the DTVSV Act provides for deviation from strict application of tax laws to achieve its purpose. The impugned order rejecting the declaration was set aside, and the department was directed to accept the revised declaration form and process it under the DTVSV Act, 2020.
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TaxTMI 
TaxTMI 
of 4886 
