Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
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The ITAT examined the validity of an assessment order under sections 153A and 153D. The Tribunal found critical procedural irregularities in the approval process, specifically noting that the approval was granted on the same day as the draft and final assessment orders, without clear evidence of substantive examination. The approval was deemed invalid due to lack of proper application of mind, rendering the entire assessment order void ab initio. Regarding shares held as stock-in-trade, the Tribunal ruled that shares purchased in the regular course of business are not subject to taxation under section 56(2)(viia), emphasizing that the provision was intended to prevent tax evasion, not to tax legitimate business transactions. Consequently, the Assessee's appeal was allowed.
The ITAT examined the validity of an assessment order under sections 153A and 153D. The Tribunal found critical procedural irregularities in the approval process, specifically noting that the approval was granted on the same day as the draft and final assessment orders, without clear evidence of substantive examination. The approval was deemed invalid due to lack of proper application of mind, rendering the entire assessment order void ab initio. Regarding shares held as stock-in-trade, the Tribunal ruled that shares purchased in the regular course of business are not subject to taxation under section 56(2)(viia), emphasizing that the provision was intended to prevent tax evasion, not to tax legitimate business transactions. Consequently, the Assessee's appeal was allowed.
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