Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
ITAT held that the Pr. CIT's revision under s. 263 challenging an assessment passed under s. 153A read with s. 143(3) in respect of carbon-credit receipts failed because the incriminating materials relied on by the AO were held by the CIT(A) to be non-incriminating, thereby vitiating the foundation for reassessment; the assessee's appeal on this limb was allowed. Conversely, ITAT upheld the Pr. CIT's exercise of s. 263 jurisdiction to rectify erroneous computation of deduction under s. 80IA where the AO omitted allocation of head-office expenses and other costs, causing prejudice; such specific apportionment fell within "such matters" warranting revision, and the assessee's appeal on this issue was dismissed.
ITAT held that the Pr. CIT's revision under s. 263 challenging an assessment passed under s. 153A read with s. 143(3) in respect of carbon-credit receipts failed because the incriminating materials relied on by the AO were held by the CIT(A) to be non-incriminating, thereby vitiating the foundation for reassessment; the assessee's appeal on this limb was allowed. Conversely, ITAT upheld the Pr. CIT's exercise of s. 263 jurisdiction to rectify erroneous computation of deduction under s. 80IA where the AO omitted allocation of head-office expenses and other costs, causing prejudice; such specific apportionment fell within "such matters" warranting revision, and the assessee's appeal on this issue was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
