Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The HC held that the assessment order passed under section 143(3) read with section 144B was invalid due to denial of natural justice, as the petitioner was granted only four effective days to respond to the show-cause notice issued on 28.02.2025. The court found that the Department had ample time to issue the notice earlier and complete the assessment within the statutory period. The short notice period, compounded by non-working days, was held to be unreasonable. Consequently, the show-cause notice and the subsequent assessment order dated 11.03.2025 were quashed. The matter was remitted to the assessing authority to allow the petitioner a fresh opportunity to file a detailed response within seven days, with the authority directed to facilitate submission by reopening the relevant portal.
The HC held that the assessment order passed under section 143(3) read with section 144B was invalid due to denial of natural justice, as the petitioner was granted only four effective days to respond to the show-cause notice issued on 28.02.2025. The court found that the Department had ample time to issue the notice earlier and complete the assessment within the statutory period. The short notice period, compounded by non-working days, was held to be unreasonable. Consequently, the show-cause notice and the subsequent assessment order dated 11.03.2025 were quashed. The matter was remitted to the assessing authority to allow the petitioner a fresh opportunity to file a detailed response within seven days, with the authority directed to facilitate submission by reopening the relevant portal.
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