Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
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The HC allowed the writ petition and held that, pursuant to the Principal Bench ruling, the tax authorities are entitled to exclude the period 15.03.2020 to 28.02.2022 when computing limitation under the relevant provisions, thereby entitling the petitioner to relief. Consequently, the impugned assessment order dated 16.08.2024 issued by the first respondent for the assessment year 2019-2020 is quashed. The matter is remitted to the first respondent for fresh adjudication on merits and in accordance with law, taking into account the exclusion of the specified period; no order as to costs.
The HC allowed the writ petition and held that, pursuant to the Principal Bench ruling, the tax authorities are entitled to exclude the period 15.03.2020 to 28.02.2022 when computing limitation under the relevant provisions, thereby entitling the petitioner to relief. Consequently, the impugned assessment order dated 16.08.2024 issued by the first respondent for the assessment year 2019-2020 is quashed. The matter is remitted to the first respondent for fresh adjudication on merits and in accordance with law, taking into account the exclusion of the specified period; no order as to costs.
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