Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
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 
of 4824 
Join Channel 
