Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Reassessment under ss.147/148 was held void ab initio as the AO recorded "reasons" merely on Investigation Wing information indicating a possibility of similar transactions, without any seized material, independent enquiry, or application of mind, amounting to borrowed satisfaction and lack of jurisdiction. Given the year was unabated and no incriminating material was forwarded, the AO ought not to have assumed jurisdiction under s.147, and the failure to follow the due statutory route (including s.153C where applicable) vitiated initiation itself. Since confirmations had already been furnished during s.142(1) proceedings, rejection/forensic testing at appellate stage could not cure the foundational defect. Appeal allowed on jurisdiction, without examining merits. - ITAT
Reassessment under ss.147/148 was held void ab initio as the AO recorded "reasons" merely on Investigation Wing information indicating a possibility of similar transactions, without any seized material, independent enquiry, or application of mind, amounting to borrowed satisfaction and lack of jurisdiction. Given the year was unabated and no incriminating material was forwarded, the AO ought not to have assumed jurisdiction under s.147, and the failure to follow the due statutory route (including s.153C where applicable) vitiated initiation itself. Since confirmations had already been furnished during s.142(1) proceedings, rejection/forensic testing at appellate stage could not cure the foundational defect. Appeal allowed on jurisdiction, without examining merits. - ITAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
