Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
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The HC held that once the petitioner has availed an alternate remedy of filing a substantive appeal, if the assessment order and notices u/ss 148A and 148 are contrary to Sections 151A and 151 as interpreted in Hexaware, the Appellate and Revisionary Authorities, being bound by the jurisdictional HC's decisions, must consider such legal position. The petitioner can raise contentions regarding the illegality of the Section 148 notice before these authorities in light of the Hexaware case. The impugned assessment order shall remain stayed till the Appellate or Revisionary Authority decides the proceedings. The petitioner shall pursue proceedings before CIT(A) against the assessment order and Revisionary Authority, raising contentions on the illegality of the Section 148 notice based on the HC's Hexaware decision.
The HC held that once the petitioner has availed an alternate remedy of filing a substantive appeal, if the assessment order and notices u/ss 148A and 148 are contrary to Sections 151A and 151 as interpreted in Hexaware, the Appellate and Revisionary Authorities, being bound by the jurisdictional HC's decisions, must consider such legal position. The petitioner can raise contentions regarding the illegality of the Section 148 notice before these authorities in light of the Hexaware case. The impugned assessment order shall remain stayed till the Appellate or Revisionary Authority decides the proceedings. The petitioner shall pursue proceedings before CIT(A) against the assessment order and Revisionary Authority, raising contentions on the illegality of the Section 148 notice based on the HC's Hexaware decision.
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