Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Page of 4794
Press 'Enter' after typing page number.
281 to 300 of 95875 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 held that adjustments under section 143(1)(a) must be preceded by proper intimation to the assessee, either in writing or electronically, as mandated by the first proviso to section 143(1)(a). In the present case, the assessee was not given any such notice before the CPC made adjustments disallowing the exemption under section 10(10AA)(ii) exceeding Rs. 3 lakhs, based on an invalid Gazette Notification. The Tribunal found this procedural lapse fatal to the validity of the adjustments. Consequently, the appeal was allowed, and the impugned adjustments were set aside for non-compliance with the statutory requirement of prior intimation.
The ITAT held that adjustments under section 143(1)(a) must be preceded by proper intimation to the assessee, either in writing or electronically, as mandated by the first proviso to section 143(1)(a). In the present case, the assessee was not given any such notice before the CPC made adjustments disallowing the exemption under section 10(10AA)(ii) exceeding Rs. 3 lakhs, based on an invalid Gazette Notification. The Tribunal found this procedural lapse fatal to the validity of the adjustments. Consequently, the appeal was allowed, and the impugned adjustments were set aside for non-compliance with the statutory requirement of prior intimation.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
