Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
HC quashed reassessment notice issued under section 14A read with Rule 8D for disallowance of expenditure relating to exempt income. Petitioner-company had originally provided complete details regarding exempt income and investments during regular assessment proceedings, with no disallowance made. AO's reopening was based solely on verification of profit and loss account and balance sheet without any fresh tangible material. Court held that reassessment cannot be initiated on mere change of opinion regarding same set of facts previously considered. Respondent failed to address petitioner's objection regarding delayed reply beyond sixty-day period. Reassessment proceedings constitute impermissible review of original assessment order passed under section 143(3). Petition allowed in favor of assessee.
HC quashed reassessment notice issued under section 14A read with Rule 8D for disallowance of expenditure relating to exempt income. Petitioner-company had originally provided complete details regarding exempt income and investments during regular assessment proceedings, with no disallowance made. AO's reopening was based solely on verification of profit and loss account and balance sheet without any fresh tangible material. Court held that reassessment cannot be initiated on mere change of opinion regarding same set of facts previously considered. Respondent failed to address petitioner's objection regarding delayed reply beyond sixty-day period. Reassessment proceedings constitute impermissible review of original assessment order passed under section 143(3). Petition allowed in favor of assessee.
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