Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
The HC held that the AO did not independently verify the material on record or form an opinion that income escaped assessment due to the assessee's failure to disclose facts. The reopening was based on borrowed satisfaction from information received without independent application of mind. Merely relying on information from other sources without forming an independent opinion is impermissible for reassessment proceedings. The HC decided in favour of the assessee.
The HC held that the AO did not independently verify the material on record or form an opinion that income escaped assessment due to the assessee's failure to disclose facts. The reopening was based on borrowed satisfaction from information received without independent application of mind. Merely relying on information from other sources without forming an independent opinion is impermissible for reassessment proceedings. The HC decided in favour of the assessee.
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