Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
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The HC upheld that the assessee's challenge to the territorial jurisdiction of the AO was barred by Section 124(3)(a) of the IT Act because no objection was raised within the statutory period or prior to completion of assessment; notice under s.143(2) served on the PAN address did not revive the objection. The court further held that subsequent administrative reallocation of wards lawfully vested jurisdiction in ITO, Ward-2(1), Raipur, rendering the jurisdictional plea untimely and without merit. Consequently, the ITAT's refusal to entertain the jurisdictional challenge was affirmed and the substantial question of law was answered against the assessee.
The HC upheld that the assessee's challenge to the territorial jurisdiction of the AO was barred by Section 124(3)(a) of the IT Act because no objection was raised within the statutory period or prior to completion of assessment; notice under s.143(2) served on the PAN address did not revive the objection. The court further held that subsequent administrative reallocation of wards lawfully vested jurisdiction in ITO, Ward-2(1), Raipur, rendering the jurisdictional plea untimely and without merit. Consequently, the ITAT's refusal to entertain the jurisdictional challenge was affirmed and the substantial question of law was answered against the assessee.
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