Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
Page of 4830
Press 'Enter' after typing page number.
181 to 200 of 96587 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
HC held that its earlier order setting aside assessments on the amalgamating, non-existent company did not contain any "finding" or "direction" within the meaning of s.153(6) of the Act. The prior order merely applied the ratio of Maruti Suzuki to quash assessments on a non-existent entity and clarified that fresh proceedings, if any, could be initiated against the amalgamated transferee in accordance with law, which did not amount to a binding direction. Consequently, the extended limitation under s.153(6) was inapplicable. The impugned assessment framed against the transferee company for A.Y. 2007-08 was therefore held to be time-barred under s.153(1), and stood quashed, with the Revenue's contentions rejected.
HC held that its earlier order setting aside assessments on the amalgamating, non-existent company did not contain any "finding" or "direction" within the meaning of s.153(6) of the Act. The prior order merely applied the ratio of Maruti Suzuki to quash assessments on a non-existent entity and clarified that fresh proceedings, if any, could be initiated against the amalgamated transferee in accordance with law, which did not amount to a binding direction. Consequently, the extended limitation under s.153(6) was inapplicable. The impugned assessment framed against the transferee company for A.Y. 2007-08 was therefore held to be time-barred under s.153(1), and stood quashed, with the Revenue's contentions rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4830 
Join Channel 
