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...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
HC held that the CIT(A)'s order directing deletion of additions relating to unexplained sundry creditors was valid. The AO's amendment under Section 154 was procedurally flawed as no notice was issued to the assessee, violating statutory requirements of Section 154(3). The court found a clear violation of natural justice principles by not providing an opportunity of hearing. Consequently, the order dated February 7, 2025 was set aside, and the authorities were directed to implement the previous order dated January 3, 2024 within four weeks, effectively reinstating the original appellate order deleting the contested additions.
HC held that the CIT(A)'s order directing deletion of additions relating to unexplained sundry creditors was valid. The AO's amendment under Section 154 was procedurally flawed as no notice was issued to the assessee, violating statutory requirements of Section 154(3). The court found a clear violation of natural justice principles by not providing an opportunity of hearing. Consequently, the order dated February 7, 2025 was set aside, and the authorities were directed to implement the previous order dated January 3, 2024 within four weeks, effectively reinstating the original appellate order deleting the contested additions.
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