Reverse charge and assignment of royalty collection: exemption for excess royalty collectors subject to reconciliation; leaseholders remain liable und...
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Eligibility for notification exemption on imported fertilizers challenged; penalty, interest and confiscation set aside after voluntary payment and no...
Reopening under Sections 147/148 was challenged on the ground that the "reason to believe" was founded only on an allegation of "circuitous" related-party transactions reflected in an STR, without any tangible material showing income escaping assessment. The authority neither recorded any finding of cash exchange or money returning to the assessee nor doubted or examined the documentary evidence and explanations demonstrating full disclosure and justification of income. Since the formation of belief was unsupported by material and the assessee's submissions were not considered, the reopening proceedings were held unsustainable, and the notice and consequential order were quashed. - HC
Reopening under Sections 147/148 was challenged on the ground that the "reason to believe" was founded only on an allegation of "circuitous" related-party transactions reflected in an STR, without any tangible material showing income escaping assessment. The authority neither recorded any finding of cash exchange or money returning to the assessee nor doubted or examined the documentary evidence and explanations demonstrating full disclosure and justification of income. Since the formation of belief was unsupported by material and the assessee's submissions were not considered, the reopening proceedings were held unsustainable, and the notice and consequential order were quashed. - HC
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