Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
HC allowed the petition, invalidating the reassessment notice. The court determined that the Assessing Officer lacked sufficient material to demonstrate income escaping assessment exceeding Rs. 50 lacs in AY 2013-14. The notice was found to be beyond the prescribed limitation period under Section 149(1)(a) and did not satisfy conditions under Section 149(1)(b). The court specifically noted no evidence of undisclosed transactions or income, rendering the reassessment notice procedurally and substantively unsustainable. Consequently, the impugned order and notice were set aside, providing relief to the assessee.
HC allowed the petition, invalidating the reassessment notice. The court determined that the Assessing Officer lacked sufficient material to demonstrate income escaping assessment exceeding Rs. 50 lacs in AY 2013-14. The notice was found to be beyond the prescribed limitation period under Section 149(1)(a) and did not satisfy conditions under Section 149(1)(b). The court specifically noted no evidence of undisclosed transactions or income, rendering the reassessment notice procedurally and substantively unsustainable. Consequently, the impugned order and notice were set aside, providing relief to the assessee.
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