Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The dominant issue was whether a final assessment order passed under section 143(3) read with sections 144C(13) and 144B is subject to the outer limitation prescribed under sections 153(1) and 153(4). Relying on binding judicial precedents, it was held that the statutory upper time limit under section 153(1), as extended by section 153(4) where a transfer pricing reference is made, governs such final assessment orders, and any order passed beyond that period is time-barred and void. Since the impugned final assessment order was issued after expiry of the extended limitation period, it was quashed and the appeal was allowed. - ITAT
The dominant issue was whether a final assessment order passed under section 143(3) read with sections 144C(13) and 144B is subject to the outer limitation prescribed under sections 153(1) and 153(4). Relying on binding judicial precedents, it was held that the statutory upper time limit under section 153(1), as extended by section 153(4) where a transfer pricing reference is made, governs such final assessment orders, and any order passed beyond that period is time-barred and void. Since the impugned final assessment order was issued after expiry of the extended limitation period, it was quashed and the appeal was allowed. - ITAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
