Transfer-pricing aggregation of distinct support-service and subcontract transactions was rejected, while debt-free receivables attracted no notional ...
Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
Page of 4881
Press 'Enter' after typing page number.
101 to 120 of 97618 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The ITAT upheld the validity of the reassessment order under section 147 read with section 143(3), finding sufficient new material and reasons to believe that income had escaped assessment for AY 2012-13 based on investigation reports and non-compliance by the assessee. The tribunal rejected the assessee's contention of change of opinion and improper assumption of jurisdiction. However, additions made under section 68 regarding the identity, creditworthiness, and genuineness of share application money were set aside for fresh inquiry, as the AO had not fully verified the parties involved. The AO was directed to conduct further enquiries and provide the assessee with reasonable opportunity of being heard. Additionally, the matter concerning alleged accommodation entries based on the Inspector's report was remanded for reconsideration, with instructions to furnish the report to the assessee and allow them to respond. Grounds relating to these issues were allowed for statistical purposes, while others were dismissed.
The ITAT upheld the validity of the reassessment order under section 147 read with section 143(3), finding sufficient new material and reasons to believe that income had escaped assessment for AY 2012-13 based on investigation reports and non-compliance by the assessee. The tribunal rejected the assessee's contention of change of opinion and improper assumption of jurisdiction. However, additions made under section 68 regarding the identity, creditworthiness, and genuineness of share application money were set aside for fresh inquiry, as the AO had not fully verified the parties involved. The AO was directed to conduct further enquiries and provide the assessee with reasonable opportunity of being heard. Additionally, the matter concerning alleged accommodation entries based on the Inspector's report was remanded for reconsideration, with instructions to furnish the report to the assessee and allow them to respond. Grounds relating to these issues were allowed for statistical purposes, while others were dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
