Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
ITAT allowed the assessee's appeal, holding that notices issued under section 143(2) on an address not reflected in the ITR were invalid where the assessee had provided and the AO had acknowledged the correct address; reliance by the lower authority on addresses from MCA or PAN records could not supplant a specifically intimated last known address. The Tribunal held that the presumption of service by substituted methods requires that the notice be sent to the last known correct address communicated to the AO, and distinguished the precedent relied upon by the CIT(A) as inapplicable on the facts. Consequently the assessment communication founded on service at the incorrect address was set aside.
ITAT allowed the assessee's appeal, holding that notices issued under section 143(2) on an address not reflected in the ITR were invalid where the assessee had provided and the AO had acknowledged the correct address; reliance by the lower authority on addresses from MCA or PAN records could not supplant a specifically intimated last known address. The Tribunal held that the presumption of service by substituted methods requires that the notice be sent to the last known correct address communicated to the AO, and distinguished the precedent relied upon by the CIT(A) as inapplicable on the facts. Consequently the assessment communication founded on service at the incorrect address was set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
