Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
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ITAT upheld the PCIT's revisionary order u/s 263, rejecting the assessee's contentions. The Tribunal found no illegality in the revision proceedings, noting that the AO failed to properly apply mandatory provisions of section 115BBE for additions u/s 68 and erroneously initiated penalty proceedings u/s 271(1)(c) instead of 271AAC. The Tribunal determined that the PCIT was justified in exercising revisionary powers since the issues raised were not pending before the First Appellate Authority and materially impacted revenue interests. The assessee's appeal challenging the revisionary order was consequently dismissed, affirming the PCIT's order as legally sound and procedurally correct.
ITAT upheld the PCIT's revisionary order u/s 263, rejecting the assessee's contentions. The Tribunal found no illegality in the revision proceedings, noting that the AO failed to properly apply mandatory provisions of section 115BBE for additions u/s 68 and erroneously initiated penalty proceedings u/s 271(1)(c) instead of 271AAC. The Tribunal determined that the PCIT was justified in exercising revisionary powers since the issues raised were not pending before the First Appellate Authority and materially impacted revenue interests. The assessee's appeal challenging the revisionary order was consequently dismissed, affirming the PCIT's order as legally sound and procedurally correct.
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