Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
Right to access seized electronic evidence: impugned adjudication treated as additional show cause notice, remand for fresh hearing and return of mate...
Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
ITAT upheld the PCIT's revision u/s 263 for AY 2020-21, holding the assessment order erroneous and prejudicial to the interests of Revenue due to non-examination of depreciation claimed on goodwill. The assessee's contention that the tax audit report sufficed and that no further enquiry by AO was needed was rejected. ITAT confined the validity of revision to the year under consideration and held that PCIT's observations regarding earlier years would not bind the set-aside proceedings, though they may guide Revenue separately. The direction to AO to verify the depreciation claim on goodwill was sustained. The objection regarding absence of DIN in the s.263 notice was also rejected.
ITAT upheld the PCIT's revision u/s 263 for AY 2020-21, holding the assessment order erroneous and prejudicial to the interests of Revenue due to non-examination of depreciation claimed on goodwill. The assessee's contention that the tax audit report sufficed and that no further enquiry by AO was needed was rejected. ITAT confined the validity of revision to the year under consideration and held that PCIT's observations regarding earlier years would not bind the set-aside proceedings, though they may guide Revenue separately. The direction to AO to verify the depreciation claim on goodwill was sustained. The objection regarding absence of DIN in the s.263 notice was also rejected.
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