Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
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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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