Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Page of 4782
Press 'Enter' after typing page number.
401 to 420 of 95636 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The High Court dismissed the petition filed by the Petitioner challenging the show cause notice issued by the Respondents. The Court held that the Comptroller and Auditor General (CAG) or its officials do not have jurisdiction to audit private companies like the Petitioner. Since the impugned show cause notice was not based on any audit undertaken by CAG/CERA, the Court did not delve into the issue of quashing the notice or prohibiting the Respondents from proceeding further. The Court found no infirmity in invoking the extended period of limitation as allegations of suppression or non-declaration were made in the show cause notice. The Court rejected the contention that the documents submitted or explanation offered by the Petitioner were not considered, stating that a show cause notice merely records a prima facie opinion and is not a judgment after adjudication.
The High Court dismissed the petition filed by the Petitioner challenging the show cause notice issued by the Respondents. The Court held that the Comptroller and Auditor General (CAG) or its officials do not have jurisdiction to audit private companies like the Petitioner. Since the impugned show cause notice was not based on any audit undertaken by CAG/CERA, the Court did not delve into the issue of quashing the notice or prohibiting the Respondents from proceeding further. The Court found no infirmity in invoking the extended period of limitation as allegations of suppression or non-declaration were made in the show cause notice. The Court rejected the contention that the documents submitted or explanation offered by the Petitioner were not considered, stating that a show cause notice merely records a prima facie opinion and is not a judgment after adjudication.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
