Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
The High Court set aside the impugned orders of tax assessments for the period 2017-18 to 2022-23 against the petitioner and directed the Assessing Authority to redo the assessments after examining the applicability of Notification No.9 of 2017 dated 28.06.2017. The Court found merit in the petitioner's contention that if the petitioner is a unit of the Nuclear Fuel Complex/Department of Atomic Energy under the Central Government, the services rendered would be covered under the said notification, exempting them from Goods and Services Tax under Article 265 of the Constitution.
The High Court set aside the impugned orders of tax assessments for the period 2017-18 to 2022-23 against the petitioner and directed the Assessing Authority to redo the assessments after examining the applicability of Notification No.9 of 2017 dated 28.06.2017. The Court found merit in the petitioner's contention that if the petitioner is a unit of the Nuclear Fuel Complex/Department of Atomic Energy under the Central Government, the services rendered would be covered under the said notification, exempting them from Goods and Services Tax under Article 265 of the Constitution.
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TaxTMI 
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