Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
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HC determined the invalidity of a Section 148 notice challenging the Assessing Officer's (AO) assumption regarding material advances and closing stock discrepancies. The court found that the AO erroneously interpreted material advances as an indication of understated closing stock, despite the advance being already accounted for in the revenue bill. The AO lacked jurisdiction to reopen the assessment based on information already examined during the original assessment. Consequently, the HC quashed the reassessment notice, ruling in favor of the assessee and determining that the purported stock variation could not substantiate claims of escaped income.
HC determined the invalidity of a Section 148 notice challenging the Assessing Officer's (AO) assumption regarding material advances and closing stock discrepancies. The court found that the AO erroneously interpreted material advances as an indication of understated closing stock, despite the advance being already accounted for in the revenue bill. The AO lacked jurisdiction to reopen the assessment based on information already examined during the original assessment. Consequently, the HC quashed the reassessment notice, ruling in favor of the assessee and determining that the purported stock variation could not substantiate claims of escaped income.
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