Anti-profiteering obligations survive business demerger, complaint withdrawal, and customized supply arrangements where rate-reduction benefits are no...
Road restoration charges constitute taxable services when requested for commercial pipeline activity, requiring reverse-charge GST from the business r...
Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
The ITAT held that the CIT(A) lacked jurisdiction to enhance the assessment under section 251 due to failure to issue the mandatory enhancement notice under section 251(2). The addition based on net profit at 8% of turnover was deleted as the assessee was not afforded an opportunity to respond to the enhancement proposal, rendering the addition invalid. Consequently, the addition relating to net profit was set aside, and the assessee's grounds were allowed.
The ITAT held that the CIT(A) lacked jurisdiction to enhance the assessment under section 251 due to failure to issue the mandatory enhancement notice under section 251(2). The addition based on net profit at 8% of turnover was deleted as the assessee was not afforded an opportunity to respond to the enhancement proposal, rendering the addition invalid. Consequently, the addition relating to net profit was set aside, and the assessee's grounds were allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
