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...
HC upheld validity of assessment order under s.147 read with s.144B, finding proper approval under s.151. Court confirmed Range Head and CIT/PCIT had appropriately endorsed AO's recorded reasons for scrutiny notice under s.148. Review of computerized order details demonstrated requisite approvals obtained at each stage of faceless assessment. Finding no jurisdictional error, HC declined to exercise writ jurisdiction. Petitioner directed to pursue statutory appeal remedy for AY 2013-14, with time spent in writ proceedings eligible for consideration in any delay condonation application.
HC upheld validity of assessment order under s.147 read with s.144B, finding proper approval under s.151. Court confirmed Range Head and CIT/PCIT had appropriately endorsed AO's recorded reasons for scrutiny notice under s.148. Review of computerized order details demonstrated requisite approvals obtained at each stage of faceless assessment. Finding no jurisdictional error, HC declined to exercise writ jurisdiction. Petitioner directed to pursue statutory appeal remedy for AY 2013-14, with time spent in writ proceedings eligible for consideration in any delay condonation application.
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