Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
ITAT adjudicated a tax assessment dispute regarding time-barred order limitations. The tribunal determined that the Assessment Officer's (AO) final assessment order passed on 24.08.2022 was beyond statutory limitation under section 144C(13), referencing Madras HC precedent which emphasized that limitation periods cannot be manipulated through internal procedural variations. The tribunal held that since DRP directions were received on 30.06.2022 at 9:53 p.m., the subsequent assessment order exceeded permissible timelines. Consequently, the tribunal allowed the assessee's appeal, declaring the additions in the assessment order void ab initio and directing their deletion.
ITAT adjudicated a tax assessment dispute regarding time-barred order limitations. The tribunal determined that the Assessment Officer's (AO) final assessment order passed on 24.08.2022 was beyond statutory limitation under section 144C(13), referencing Madras HC precedent which emphasized that limitation periods cannot be manipulated through internal procedural variations. The tribunal held that since DRP directions were received on 30.06.2022 at 9:53 p.m., the subsequent assessment order exceeded permissible timelines. Consequently, the tribunal allowed the assessee's appeal, declaring the additions in the assessment order void ab initio and directing their deletion.
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