Promissory note presumption of consideration survives blank-signature and income-tax non-disclosure objections when admissions and attesting evidence ...
Charitable registration cancellation: limitation and jurisdiction upheld, but withdrawal quashed under discontinued provisions for skill-development e...
Page of 4803
Press 'Enter' after typing page number.
1421 to 1440 of 96047 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
ITAT set aside Pr.CIT's order under section 263, finding procedural irregularities in reassessment proceedings. The tribunal determined that Pr.CIT exceeded jurisdictional limits by: (1) considering documents not available during original examination, (2) introducing issues beyond the original reassessment scope under section 147, and (3) improperly evaluating additional tax-related matters not part of initial proceedings. The tribunal emphasized that revisional powers must be exercised strictly based on records existing at the time of original assessment. Consequently, the entire proceedings were deemed ultra vires, with the appellate order partially allowing the assessee's appeal and nullifying the CIT's interventions.
ITAT set aside Pr.CIT's order under section 263, finding procedural irregularities in reassessment proceedings. The tribunal determined that Pr.CIT exceeded jurisdictional limits by: (1) considering documents not available during original examination, (2) introducing issues beyond the original reassessment scope under section 147, and (3) improperly evaluating additional tax-related matters not part of initial proceedings. The tribunal emphasized that revisional powers must be exercised strictly based on records existing at the time of original assessment. Consequently, the entire proceedings were deemed ultra vires, with the appellate order partially allowing the assessee's appeal and nullifying the CIT's interventions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
