Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
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The ITAT held that the assessment framed under section 143(3) read with section 153A of the Act is invalid because no valid search was conducted on the assessee's premises. Although the assessee's name appeared in the panchnama and a search occurred at a Kolkata address, the premises of the assessee at Asansol were not searched and did not belong to the assessee. Mere mention in the panchnama or search of premises rented to another entity does not constitute a search against the assessee. Consequently, invocation of section 153A - which relies on a search against the person to extend the assessment period - is baseless and the additions based on unexplained credits/expenditure are set aside.
The ITAT held that the assessment framed under section 143(3) read with section 153A of the Act is invalid because no valid search was conducted on the assessee's premises. Although the assessee's name appeared in the panchnama and a search occurred at a Kolkata address, the premises of the assessee at Asansol were not searched and did not belong to the assessee. Mere mention in the panchnama or search of premises rented to another entity does not constitute a search against the assessee. Consequently, invocation of section 153A - which relies on a search against the person to extend the assessment period - is baseless and the additions based on unexplained credits/expenditure are set aside.
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