RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Reopening under s.147 was upheld as the AO recorded that the assessee had failed to fully and truly disclose material facts necessary for assessment, and the matters forming the basis of reassessment had not been examined in the earlier s.143(3) proceedings; hence, the reassessment was not a mere change of opinion and the jurisdictional condition of "reasons to believe" was satisfied, resulting in rejection of the challenge to reopening. The CIT(A)'s remand for de novo assessment was sustained because the assessment had been framed without reasons due to alleged non-compliance with notices, and the assessee demonstrated illness as cause; the CIT(A) validly exercised powers under s.251(1)(a), leading to dismissal of the appeal ground. - ITAT
Reopening under s.147 was upheld as the AO recorded that the assessee had failed to fully and truly disclose material facts necessary for assessment, and the matters forming the basis of reassessment had not been examined in the earlier s.143(3) proceedings; hence, the reassessment was not a mere change of opinion and the jurisdictional condition of "reasons to believe" was satisfied, resulting in rejection of the challenge to reopening. The CIT(A)'s remand for de novo assessment was sustained because the assessment had been framed without reasons due to alleged non-compliance with notices, and the assessee demonstrated illness as cause; the CIT(A) validly exercised powers under s.251(1)(a), leading to dismissal of the appeal ground. - ITAT
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