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 ITAT held that the reassessment order issued in the name of a deceased assessee is invalid where the AO, despite being informed of the assessee's death, failed to issue a fresh notice under section 148 to the legal heir. The Tribunal relied on the jurisdictional High Court ruling which clarified that informing the AO of the death and requesting to drop proceedings does not amount to participation under section 292B, thereby rendering the original notice defective and void. Consequently, reopening assessment proceedings against a deceased person without proper notice to the legal representative is legally impermissible. The appeal was allowed, quashing the reassessment order passed in the name of the deceased.
The ITAT held that the reassessment order issued in the name of a deceased assessee is invalid where the AO, despite being informed of the assessee's death, failed to issue a fresh notice under section 148 to the legal heir. The Tribunal relied on the jurisdictional High Court ruling which clarified that informing the AO of the death and requesting to drop proceedings does not amount to participation under section 292B, thereby rendering the original notice defective and void. Consequently, reopening assessment proceedings against a deceased person without proper notice to the legal representative is legally impermissible. The appeal was allowed, quashing the reassessment order passed in the name of the deceased.
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