Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
HC quashed reassessment notice under s.148 concerning lease payments, foreign currency transactions, and goodwill depreciation. Court found no valid grounds for reopening as lease transactions were consistently accepted since 2012-13, foreign currency claims were properly explained with unrealized gains/losses appropriately reflected in income computation, and goodwill depreciation claim was valid as s.43(6)(c) amendment denying such depreciation became effective only from 01.04.2021. AO's attempt to reopen assessment demonstrated mere change of opinion without fresh tangible material, failing to establish income escapement. Court held AO lacked jurisdiction to reopen assessment, ruling in assessee's favor.
HC quashed reassessment notice under s.148 concerning lease payments, foreign currency transactions, and goodwill depreciation. Court found no valid grounds for reopening as lease transactions were consistently accepted since 2012-13, foreign currency claims were properly explained with unrealized gains/losses appropriately reflected in income computation, and goodwill depreciation claim was valid as s.43(6)(c) amendment denying such depreciation became effective only from 01.04.2021. AO's attempt to reopen assessment demonstrated mere change of opinion without fresh tangible material, failing to establish income escapement. Court held AO lacked jurisdiction to reopen assessment, ruling in assessee's favor.
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