Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
After a scheme of amalgamation/demerger, the assessee filed a modified return under s.170A to give effect to the scheme, and the AO thereafter completed assessment for the same assessment year, having been furnished particulars including losses and unabsorbed depreciation in the tax audit report. On these facts, the court found a strong prima facie case that a fresh notice under s.143(2) (and consequential s.142(1) notice) for the same year, seeking to reassess income on the basis of the modified return, was impermissible. Consequently, pending final disposal, the revenue was restrained from taking steps pursuant to the impugned notices, including passing any assessment order. - HC
After a scheme of amalgamation/demerger, the assessee filed a modified return under s.170A to give effect to the scheme, and the AO thereafter completed assessment for the same assessment year, having been furnished particulars including losses and unabsorbed depreciation in the tax audit report. On these facts, the court found a strong prima facie case that a fresh notice under s.143(2) (and consequential s.142(1) notice) for the same year, seeking to reassess income on the basis of the modified return, was impermissible. Consequently, pending final disposal, the revenue was restrained from taking steps pursuant to the impugned notices, including passing any assessment order. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
