Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
In reassessment proceedings under s.147, issuance of notice under s.143(2) was held not mandatory where no return was filed in response to notice under s.148; the challenge to reassessment on this ground was rejected. Professional fees were held not taxable on accrual where the assessee consistently followed cash basis and the amounts, though reflected in Form 26AS with TDS, were not actually received during the relevant year; the addition was directed to be deleted. Deduction under Chapter VIA was directed to be allowed since it had been accepted in original and reassessment proceedings and supporting evidence was on record. - ITAT
In reassessment proceedings under s.147, issuance of notice under s.143(2) was held not mandatory where no return was filed in response to notice under s.148; the challenge to reassessment on this ground was rejected. Professional fees were held not taxable on accrual where the assessee consistently followed cash basis and the amounts, though reflected in Form 26AS with TDS, were not actually received during the relevant year; the addition was directed to be deleted. Deduction under Chapter VIA was directed to be allowed since it had been accepted in original and reassessment proceedings and supporting evidence was on record. - ITAT
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