Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
CESTAT allowed the appeal by way of remand, directing that the matter be adjudicated only on the limited issue of limitation. The Tribunal held that if the demand is found time-barred, no adjudication on merits is required. The matter is remitted to the First Appellate Authority to decide exclusively whether the proceedings are time-barred. The Commissioner (Appeals) must afford the respondent a reasonable, time-bound opportunity to present its case orally and in writing, observe principles of natural justice, and pass a reasoned, speaking order specifically addressing limitation. Recovery of duty and interest, and classification issues remain unadjudicated pending the limitation determination.
CESTAT allowed the appeal by way of remand, directing that the matter be adjudicated only on the limited issue of limitation. The Tribunal held that if the demand is found time-barred, no adjudication on merits is required. The matter is remitted to the First Appellate Authority to decide exclusively whether the proceedings are time-barred. The Commissioner (Appeals) must afford the respondent a reasonable, time-bound opportunity to present its case orally and in writing, observe principles of natural justice, and pass a reasoned, speaking order specifically addressing limitation. Recovery of duty and interest, and classification issues remain unadjudicated pending the limitation determination.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4921 
