Dependent Agent PE unresolved for lack of factual inquiry; arm's-length distribution accepted; royalty claim rejected; 15% refund interest (Section 24...
Exemption under s.10(23C)(iiiad) upheld; appeal allowed, interest and dividends excluded from annual receipts, disallowance deleted, capital gains exe...
ITAT set aside reopening notices issued under s.148 for AYs 2014-15 to 2018-19, holding the superior authority's mechanical sanction rendered the reassessment void ab initio. The Tribunal found the AO failed to satisfy mandatory conditions of s.149(1)(b) for reopening beyond three years and that the purported approval under s.151 was invalid; accordingly proceedings under s.147/148 were quashed. Further, a subsequent s.148 notice issued after the AO had earlier dropped proceedings was impermissible where no fresh material or change in facts existed and the earlier discontinuance was within the AO's control. Relief granted to the assessee, with reassessment proceedings held invalid.
ITAT set aside reopening notices issued under s.148 for AYs 2014-15 to 2018-19, holding the superior authority's mechanical sanction rendered the reassessment void ab initio. The Tribunal found the AO failed to satisfy mandatory conditions of s.149(1)(b) for reopening beyond three years and that the purported approval under s.151 was invalid; accordingly proceedings under s.147/148 were quashed. Further, a subsequent s.148 notice issued after the AO had earlier dropped proceedings was impermissible where no fresh material or change in facts existed and the earlier discontinuance was within the AO's control. Relief granted to the assessee, with reassessment proceedings held invalid.
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