Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
Reopening under s.148A(1) was challenged on the ground that the AO lacked "information which suggests that income chargeable to tax has escaped assessment" and instead undertook a roving inquiry based solely on consolidated debit and credit bank entries. The Court held that s.148A(1) permits only verification of such information available on the portal and does not authorize fishing inquiries, particularly when transactions were through banking channels and party-wise details were already available. As the notice and order were founded merely on consolidated bank entries without any further incriminating material, the AO exceeded jurisdiction; the writ petition was allowed. - HC
Reopening under s.148A(1) was challenged on the ground that the AO lacked "information which suggests that income chargeable to tax has escaped assessment" and instead undertook a roving inquiry based solely on consolidated debit and credit bank entries. The Court held that s.148A(1) permits only verification of such information available on the portal and does not authorize fishing inquiries, particularly when transactions were through banking channels and party-wise details were already available. As the notice and order were founded merely on consolidated bank entries without any further incriminating material, the AO exceeded jurisdiction; the writ petition was allowed. - HC
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