Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
ITAT held that the re-assessment order under section 147 r.w.s. 144B was invalid. The AO improperly reopened the minor son's income in the father's hands despite clear evidence that the income was already clubbed in the mother's income tax return. The tribunal found the reassessment proceedings procedurally flawed, as the AO failed to verify the submitted documentation and disregarded the assessee's explanation regarding income clubbing. Consequently, the tribunal quashed the re-assessment proceedings, deleted the addition made by the AO, and allowed the assessee's appeal, emphasizing that the reassessment was contrary to legal provisions.
ITAT held that the re-assessment order under section 147 r.w.s. 144B was invalid. The AO improperly reopened the minor son's income in the father's hands despite clear evidence that the income was already clubbed in the mother's income tax return. The tribunal found the reassessment proceedings procedurally flawed, as the AO failed to verify the submitted documentation and disregarded the assessee's explanation regarding income clubbing. Consequently, the tribunal quashed the re-assessment proceedings, deleted the addition made by the AO, and allowed the assessee's appeal, emphasizing that the reassessment was contrary to legal provisions.
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