Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monito...
The HC held that the AO cannot, by invoking s.154, effect rectification beyond the scope of the s.263 direction and cannot revisit a deduction under s.80IA which was neither the subject-matter of the s.263 proceedings nor of the appeal. Two assessment orders exist: the original order dated 10.02.2005 and the s.263 order dated 20.10.2011. The impugned rectification purportedly altering the 10.02.2005 assessment is time-barred because limitation under s.154(7) runs from 10.02.2005. The rectification order dated 28.03.2012 is therefore barred by limitation, and the ITAT's conclusion computing limitation from the original assessment was upheld.
The HC held that the AO cannot, by invoking s.154, effect rectification beyond the scope of the s.263 direction and cannot revisit a deduction under s.80IA which was neither the subject-matter of the s.263 proceedings nor of the appeal. Two assessment orders exist: the original order dated 10.02.2005 and the s.263 order dated 20.10.2011. The impugned rectification purportedly altering the 10.02.2005 assessment is time-barred because limitation under s.154(7) runs from 10.02.2005. The rectification order dated 28.03.2012 is therefore barred by limitation, and the ITAT's conclusion computing limitation from the original assessment was upheld.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
