International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
Validity of reassessment initiation was challenged on the ground that the order under s.148A(3) and the consequent notice under s.148 were vague and non-speaking, merely referring to a search in the insurance sector without disclosing why income was believed to have escaped assessment. The court held that the s.148A(3) order did not record any reasons for rejecting the assessee's replies or explain the basis for proceeding, rendering it unsustainable; consequently, the s.148A(3) order and the s.148 notice were set aside and the matter was remanded to the AO to pass a fresh, reasoned order after considering the replies, with clarification that the assessee had also asserted incomplete information in the notices. - HC
Validity of reassessment initiation was challenged on the ground that the order under s.148A(3) and the consequent notice under s.148 were vague and non-speaking, merely referring to a search in the insurance sector without disclosing why income was believed to have escaped assessment. The court held that the s.148A(3) order did not record any reasons for rejecting the assessee's replies or explain the basis for proceeding, rendering it unsustainable; consequently, the s.148A(3) order and the s.148 notice were set aside and the matter was remanded to the AO to pass a fresh, reasoned order after considering the replies, with clarification that the assessee had also asserted incomplete information in the notices. - HC
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