Appeal allows marketing payments as deductible business expenses under Sec.37; director pay retained; R&D deductible from certificate date under Sec.3...
Registration under s.12AB upheld; CIT(Exemptions) exceeded jurisdiction by deciding taxability instead of preliminary verification and registration di...
Dependent Agent PE unresolved for lack of factual inquiry; arm's-length distribution accepted; royalty claim rejected; 15% refund interest (Section 24...
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The HC allowed the petition and quashed and set aside the impugned order passed under s.148A(d) and the notice issued under s.148 for AY 2017-18. The court accepted respondents' affidavits acknowledging that the PAN database was not linked to the Non-Filer case-selection procedure and that business/investment entries reported by third parties are flagged to jurisdictional officers without regard to PAN status. The order found the notice was grounded on a PAN deactivated since 2009, and held the Assessing Officer failed to apply independent mind or verify the petitioner's disclosures that transactions were reflected under an active PAN. The petition was allowed on these grounds.
The HC allowed the petition and quashed and set aside the impugned order passed under s.148A(d) and the notice issued under s.148 for AY 2017-18. The court accepted respondents' affidavits acknowledging that the PAN database was not linked to the Non-Filer case-selection procedure and that business/investment entries reported by third parties are flagged to jurisdictional officers without regard to PAN status. The order found the notice was grounded on a PAN deactivated since 2009, and held the Assessing Officer failed to apply independent mind or verify the petitioner's disclosures that transactions were reflected under an active PAN. The petition was allowed on these grounds.
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