Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
The ITAT held that the limitation period for issuing a notice u/s 143(2) is relevant to the financial year and assessment year. When the Assessing Officer considered the return of income after rectification for initiating assessment proceedings, the relevant date for initiation dates back to the original date of filing the return of income. Therefore, the time limit for issuing the notice u/s 143(2) must be considered from the date of filing the original return of income. Following the decision in SMC COMTRADE LTD. VERSUS ASST. COMMISSIONER OF INCOME-TAX, CIRCLE 24 (1), the Tribunal treated the notice issued u/s 143(2) as invalid. Consequently, further proceedings initiated based on the invalid notice were held to be bad in law, and the assessment order passed on the basis of the invalid notice was quashed. The assessee's appeal was allowed.
The ITAT held that the limitation period for issuing a notice u/s 143(2) is relevant to the financial year and assessment year. When the Assessing Officer considered the return of income after rectification for initiating assessment proceedings, the relevant date for initiation dates back to the original date of filing the return of income. Therefore, the time limit for issuing the notice u/s 143(2) must be considered from the date of filing the original return of income. Following the decision in SMC COMTRADE LTD. VERSUS ASST. COMMISSIONER OF INCOME-TAX, CIRCLE 24 (1), the Tribunal treated the notice issued u/s 143(2) as invalid. Consequently, further proceedings initiated based on the invalid notice were held to be bad in law, and the assessment order passed on the basis of the invalid notice was quashed. The assessee's appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4786
Join Channel
TaxTMI 
