Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
HC allowed the petition challenging tax authorities' rejection of revised income tax return. The court found that the petitioner received land acquisition compensation after the original return filing, which prevented timely disclosure. The authorities failed to consider the compensation was tax-exempt and the petitioner was legitimately prevented from including it in the original return. The HC quashed the previous order and directed tax authorities to condone the delay in filing the revised return and process it in accordance with law, ensuring the petitioner can claim TDS refund.
HC allowed the petition challenging tax authorities' rejection of revised income tax return. The court found that the petitioner received land acquisition compensation after the original return filing, which prevented timely disclosure. The authorities failed to consider the compensation was tax-exempt and the petitioner was legitimately prevented from including it in the original return. The HC quashed the previous order and directed tax authorities to condone the delay in filing the revised return and process it in accordance with law, ensuring the petitioner can claim TDS refund.
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TaxTMI 
TaxTMI 
of 4918 
