Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The HC held that the final assessment order pursuant to the ITAT's direction dated 20.07.2012 for AY 2007-08 was not passed within the prescribed limitation period. Consequently, any further proceedings before the AO are time-barred. The Revenue's failure to file a counter affidavit and the untraceability of relevant files reinforced the conclusion that the assessment process was invalid. The Court directed acceptance of the petitioner's return and ordered the refund of the claimed amount along with any further payments made, including interest as per law. This decision aligns with established precedent on limitation in assessment proceedings.
The HC held that the final assessment order pursuant to the ITAT's direction dated 20.07.2012 for AY 2007-08 was not passed within the prescribed limitation period. Consequently, any further proceedings before the AO are time-barred. The Revenue's failure to file a counter affidavit and the untraceability of relevant files reinforced the conclusion that the assessment process was invalid. The Court directed acceptance of the petitioner's return and ordered the refund of the claimed amount along with any further payments made, including interest as per law. This decision aligns with established precedent on limitation in assessment proceedings.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
