Government water works contract GST concession applied before its withdrawal, while contractual tax reimbursement claims lay outside advance-ruling sc...
Stamp valuation increases after registration-fee payment led to deletion of property-purchase addition within tolerance and without valuation referral...
HC set aside the reassessment proceedings and quashed the sanction under section 151 insofar as they pertain to the Petitioner, holding that no income chargeable to tax has escaped assessment. The court found the asserted "reasons to believe" unsupported by cogent material: the investigation report did not list the Petitioner as a beneficiary of accommodation entries and the contested transactions were sales proceeds already offered to tax. The reasons recorded misidentified another assessee and, together with uncorrected supervisory review, demonstrated a mechanical, non-application of mind in granting sanction. Consequently, reopening was held invalid and the Petitioner succeeded.
HC set aside the reassessment proceedings and quashed the sanction under section 151 insofar as they pertain to the Petitioner, holding that no income chargeable to tax has escaped assessment. The court found the asserted "reasons to believe" unsupported by cogent material: the investigation report did not list the Petitioner as a beneficiary of accommodation entries and the contested transactions were sales proceeds already offered to tax. The reasons recorded misidentified another assessee and, together with uncorrected supervisory review, demonstrated a mechanical, non-application of mind in granting sanction. Consequently, reopening was held invalid and the Petitioner succeeded.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
