Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
Customs Assessment Portal centralises classification and valuation guidance to support consistent, transparent and informed compliance across stakehol...
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HC held that picking up a tax return for scrutiny without prior approval from PCIT/PDIT/CIT/DIT violates procedural guidelines. While tax authorities can select returns for scrutiny based on verifiable tax evasion information under Instruction No. 5/2017, the critical procedural requirement of obtaining jurisdictional authority's approval was not met in this case. The absence of mandatory approval rendered the assessment order invalid, and ITAT's decision to set aside the assessment for AY 2016-17 was upheld as legally sound and procedurally correct.
HC held that picking up a tax return for scrutiny without prior approval from PCIT/PDIT/CIT/DIT violates procedural guidelines. While tax authorities can select returns for scrutiny based on verifiable tax evasion information under Instruction No. 5/2017, the critical procedural requirement of obtaining jurisdictional authority's approval was not met in this case. The absence of mandatory approval rendered the assessment order invalid, and ITAT's decision to set aside the assessment for AY 2016-17 was upheld as legally sound and procedurally correct.
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