Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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ITAT allowed the appeal and set aside the suo motu rectification order passed under s.154 by CPC/AO, holding it void for want of a reasonable opportunity of hearing to the assessee as mandated by s.154(3) and the principles of natural justice. The Tribunal noted the return had not been processed under s.143(1), and the revenue produced no record of any opportunity afforded. Consequently the rectification, which had the effect of enhancing assessment, was quashed for non-compliance with statutory procedure and audi alteram partem requirements, and remitted for fresh action conforming to s.154(3) and fair hearing standards.
ITAT allowed the appeal and set aside the suo motu rectification order passed under s.154 by CPC/AO, holding it void for want of a reasonable opportunity of hearing to the assessee as mandated by s.154(3) and the principles of natural justice. The Tribunal noted the return had not been processed under s.143(1), and the revenue produced no record of any opportunity afforded. Consequently the rectification, which had the effect of enhancing assessment, was quashed for non-compliance with statutory procedure and audi alteram partem requirements, and remitted for fresh action conforming to s.154(3) and fair hearing standards.
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