Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
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The dominant issue was whether notices issued under s.153C were valid in view of s.153C(3) for searches initiated on or after 01.04.2021. The Tribunal held that the date on which seized material is handed over to the assessee's jurisdictional AO constitutes the "date of initiation of search" for purposes of s.153C(3). Since the handover occurred on 08.09.2022, s.153C stood excluded by statute, rendering the AO's notices dated 08.09.2022 without authority and contrary to s.153C(3). Consequently, all impugned s.153C notices were quashed and the assessee succeeded. - ITAT
The dominant issue was whether notices issued under s.153C were valid in view of s.153C(3) for searches initiated on or after 01.04.2021. The Tribunal held that the date on which seized material is handed over to the assessee's jurisdictional AO constitutes the "date of initiation of search" for purposes of s.153C(3). Since the handover occurred on 08.09.2022, s.153C stood excluded by statute, rendering the AO's notices dated 08.09.2022 without authority and contrary to s.153C(3). Consequently, all impugned s.153C notices were quashed and the assessee succeeded. - ITAT
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