Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
The HC set aside an ex-parte assessment order under Section 74 for lack of reasoning and violation of natural justice principles. The petitioner challenged the assessment arising from a typographical error in their return where a decimal point was inadvertently omitted. The impugned order merely recorded issuance of show cause notice DRC-01A and absence of reply on the online portal, leading to ex-parte proceedings. However, the order failed to establish requisite findings of fraud, willful misstatement, or suppression of facts necessary for invoking Section 74. The HC found the order unsustainable due to absence of detailed reasoning and remitted the matter to the proper officer for re-adjudication in accordance with law.
The HC set aside an ex-parte assessment order under Section 74 for lack of reasoning and violation of natural justice principles. The petitioner challenged the assessment arising from a typographical error in their return where a decimal point was inadvertently omitted. The impugned order merely recorded issuance of show cause notice DRC-01A and absence of reply on the online portal, leading to ex-parte proceedings. However, the order failed to establish requisite findings of fraud, willful misstatement, or suppression of facts necessary for invoking Section 74. The HC found the order unsustainable due to absence of detailed reasoning and remitted the matter to the proper officer for re-adjudication in accordance with law.
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