Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
Page of 4830
Press 'Enter' after typing page number.
181 to 200 of 96587 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The HC quashed an undated assessment order under s.143(3) of the Income Tax Act, finding multiple legal deficiencies. The AO improperly abdicated discretionary authority by consulting with superior officers who actively participated in drafting the assessment order rather than merely approving it as required by CBDT Circular. The court determined that principles of natural justice were violated as the petitioner was not afforded reasonable opportunity to present a defense. Additionally, the assessment order was deemed time-barred, as evidence showed it was not actually made by March 31, 2024, despite revenue authorities' claims. The HC rejected the revenue's "flimsy attempt" to retroactively establish timely issuance, declaring the order non est and legally unsustainable.
The HC quashed an undated assessment order under s.143(3) of the Income Tax Act, finding multiple legal deficiencies. The AO improperly abdicated discretionary authority by consulting with superior officers who actively participated in drafting the assessment order rather than merely approving it as required by CBDT Circular. The court determined that principles of natural justice were violated as the petitioner was not afforded reasonable opportunity to present a defense. Additionally, the assessment order was deemed time-barred, as evidence showed it was not actually made by March 31, 2024, despite revenue authorities' claims. The HC rejected the revenue's "flimsy attempt" to retroactively establish timely issuance, declaring the order non est and legally unsustainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4830 
Join Channel 
