Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The ITAT dismissed the revenue's appeal and upheld the CIT(A)'s order quashing the second reassessment. The Tribunal held that once assessment under s.143(3) was completed, the AO could not reopen the assessment absent non-disclosure of material facts; the second reopening sought to re-examine the same issue of beneficial ownership and treaty entitlement relying on identical material already considered in the first reassessment. No new material was placed on record nor was there a permissible change in circumstances justifying reassessment. Consequently, the second reassessment was treated as a mere change of opinion and invalid, and the AO's action was set aside.
The ITAT dismissed the revenue's appeal and upheld the CIT(A)'s order quashing the second reassessment. The Tribunal held that once assessment under s.143(3) was completed, the AO could not reopen the assessment absent non-disclosure of material facts; the second reopening sought to re-examine the same issue of beneficial ownership and treaty entitlement relying on identical material already considered in the first reassessment. No new material was placed on record nor was there a permissible change in circumstances justifying reassessment. Consequently, the second reassessment was treated as a mere change of opinion and invalid, and the AO's action was set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
