Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
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...
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ITAT held that the assessment framed by ITO Ward 9(4), Kolkata is nullity for want of jurisdiction where notice under s.143(2) was issued by ITO Ward 10(2), Kolkata but the jurisdictional AO (Ward 9(4)) proceeded to frame assessment without issuance of a fresh statutory s.143(2) notice. The Tribunal concluded that issuance of the statutory s.143(2) notice is a precondition to confer jurisdiction on the AO; absent such notice the assessment cannot be sustained. The appeal by the taxpayer was allowed and the assessment framed by ITO Ward 9(4) was set aside.
ITAT held that the assessment framed by ITO Ward 9(4), Kolkata is nullity for want of jurisdiction where notice under s.143(2) was issued by ITO Ward 10(2), Kolkata but the jurisdictional AO (Ward 9(4)) proceeded to frame assessment without issuance of a fresh statutory s.143(2) notice. The Tribunal concluded that issuance of the statutory s.143(2) notice is a precondition to confer jurisdiction on the AO; absent such notice the assessment cannot be sustained. The appeal by the taxpayer was allowed and the assessment framed by ITO Ward 9(4) was set aside.
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