Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
ITAT adjudicated a tax assessment case involving reopening of assessment and accounting method challenges. The tribunal rejected the assessee's contentions regarding section 148 notice invalidity, confirming the notice's proper signing. The assessment reopening was deemed justifiable, with prior sanction under section 151 being procedurally valid. Regarding books of accounts, ITAT found the Assessing Officer's rejection warranted due to lack of stock register and verification challenges. The tribunal partially allowed the ground, remanding the net commission calculation issue to the AO for further verification with VAT authorities, mandating an opportunity of hearing and adherence to natural justice principles.
ITAT adjudicated a tax assessment case involving reopening of assessment and accounting method challenges. The tribunal rejected the assessee's contentions regarding section 148 notice invalidity, confirming the notice's proper signing. The assessment reopening was deemed justifiable, with prior sanction under section 151 being procedurally valid. Regarding books of accounts, ITAT found the Assessing Officer's rejection warranted due to lack of stock register and verification challenges. The tribunal partially allowed the ground, remanding the net commission calculation issue to the AO for further verification with VAT authorities, mandating an opportunity of hearing and adherence to natural justice principles.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
